ARJUL: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ARJUL
Largest movements
- Tangible fixed assets -€25,028
down €25,028 (-4.4%), from €562,914 to €537,886
of which Land and buildings: -€23,906
- Cash -€8,926
down €8,926 (-48.0%), from €18,594 to €9,668
mainly Current portion of long-term debt (-€25,692) and Debts after one year (-€19,219)
- Current portion of long-term debt -€25,692
down €25,692 (-57.2%), from €44,911 to €19,219
- Debts after one year -€19,219
down €19,219 (-3.7%), from €519,219 to €500,000
- Trade debts +€7,571
new in 2025: €7,571
- Gross operating margin +€69,663
up €69,663, from -€4,875 to €64,788
- Financial charges +€26,062
up €26,062 (+824.5%), from €3,161 to €29,223
- Depreciation +€20,640
up €20,640 (+470.4%), from €4,388 to €25,028
- Other operating charges -€1,020
down €1,020 (-17.3%), from €5,900 to €4,880
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €581,508 | €549,825 | -€31,683 | -5.4% |
| Fixed assets | 21/28 | €562,914 | €537,886 | -€25,028 | -4.4% |
| Tangible fixed assets | 22/27 | €562,914 | €537,886 | -€25,028 | -4.4% |
| Land and buildings | 22 | €559,234 | €535,328 | -€23,906 | -4.3% |
| Other tangible fixed assets | 26 | €3,680 | €2,558 | -€1,122 | -30.5% |
| Current assets | 29/58 | €18,594 | €11,939 | -€6,655 | -35.8% |
| Amounts receivable within one year | 40/41 | - | €2,051 | +€2,051 | |
| Other amounts receivable | 41 | - | €2,051 | +€2,051 | |
| Cash at bank and in hand | 54/58 | €18,594 | €9,668 | -€8,926 | -48.0% |
| Deferred charges and accrued income | 490/1 | - | €221 | +€221 | |
| Total equity and liabilities | 10/49 | €581,508 | €549,825 | -€31,683 | -5.4% |
| Equity | 10/15 | €17,378 | €23,035 | +€5,657 | +32.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,082 | €2,575 | +€5,657 | |
| Amounts payable | 17/49 | €564,131 | €526,790 | -€37,340 | -6.6% |
| Amounts payable after more than one year | 17 | €519,219 | €500,000 | -€19,219 | -3.7% |
| Financial debts | 170/4 | €519,219 | €500,000 | -€19,219 | -3.7% |
| Amounts payable within one year | 42/48 | €44,911 | €26,790 | -€18,121 | -40.3% |
| Current portion of amounts payable after more than one year | 42 | €44,911 | €19,219 | -€25,692 | -57.2% |
| Trade debts | 44 | - | €7,571 | +€7,571 | |
| Suppliers | 440/4 | - | €7,571 | +€7,571 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,388 | €25,028 | +€20,640 | +470.4% |
| Other operating charges | 640/8 | €5,900 | €4,880 | -€1,020 | -17.3% |
| Gross operating margin | 9900 | -€4,875 | €64,788 | +€69,663 | |
| Operating profit (loss) | 9901 | -€15,163 | €34,880 | +€50,042 | |
| Financial charges | 65/66B | €3,161 | €29,223 | +€26,062 | +824.5% |
| Recurring financial charges | 65 | €3,161 | €29,223 | +€26,062 | +824.5% |
| Profit (loss) for the period before taxes | 9903 | -€18,324 | €5,657 | +€23,981 | |
| Profit (loss) for the period | 9904 | -€18,324 | €5,657 | +€23,981 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,324 | €5,657 | +€23,981 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.