ARNAGE: what changed
Two financial 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.
ARNAGE
Largest movements
- Current investments -€729,323
down €729,323 (-22.4%), from €3.3m to €2.5m
- Other debts -€899,002
down €899,002 (-96.4%), from €932,610 to €33,607
- Reserves +€189,202
up €189,202 (+2.2%), from €8.8m to €9.0m
- Financial income +€176,594
up €176,594 (+161%), from €109,669 to €286,263
- Taxes +€32,026
up €32,026 (+484%), from €6,620 to €38,646
- Gross operating margin +€3,443
up €3,443 (+15.8%), from -€21,734 to -€18,291
- Other operating charges -€1,298
down €1,298 (-49.4%), from €2,628 to €1,330
- Financial charges -€1,111
down €1,111 (-20.2%), from €5,503 to €4,392
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.
Derived cash bridge
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 | €9,744,232 | €9,043,184 | -€701,048 | -7.2% |
| Fixed assets | 21/28 | €6,396,437 | €6,395,642 | -€795 | 0.0% |
| Tangible fixed assets | 22/27 | €16,276 | €15,481 | -€795 | -4.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €10,352 | €10,352 | = | 0.0% |
| Other tangible fixed assets | 26 | €5,924 | €5,129 | -€795 | -13.4% |
| Financial fixed assets | 28 | €6,380,161 | €6,380,161 | = | 0.0% |
| Current assets | 29/58 | €3,347,796 | €2,647,542 | -€700,254 | -20.9% |
| Amounts receivable within one year | 40/41 | €55,497 | €66,657 | +€11,160 | +20.1% |
| Other amounts receivable | 41 | €55,497 | €66,657 | +€11,160 | +20.1% |
| Current investments | 50/53 | €3,261,556 | €2,532,234 | -€729,323 | -22.4% |
| Cash at bank and in hand | 54/58 | €28,788 | €48,293 | +€19,506 | +67.8% |
| Deferred charges and accrued income | 490/1 | €1,955 | €358 | -€1,597 | -81.7% |
| Total equity and liabilities | 10/49 | €9,744,232 | €9,043,184 | -€701,048 | -7.2% |
| Equity | 10/15 | €8,805,961 | €8,995,163 | +€189,202 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,787,361 | €8,976,563 | +€189,202 | +2.2% |
| Distributable reserves | 133 | €8,787,361 | €8,976,563 | +€189,202 | +2.2% |
| Amounts payable | 17/49 | €938,271 | €48,021 | -€890,250 | -94.9% |
| Amounts payable within one year | 42/48 | €938,271 | €48,021 | -€890,250 | -94.9% |
| Trade debts | 44 | €5,661 | €2,047 | -€3,615 | -63.8% |
| Suppliers | 440/4 | €5,661 | €2,047 | -€3,615 | -63.8% |
| Taxes, remuneration and social security | 45 | - | €12,367 | +€12,367 | |
| Taxes | 450/3 | - | €12,367 | +€12,367 | |
| Other amounts payable | 47/48 | €932,610 | €33,607 | -€899,002 | -96.4% |
| Non-recurring operating income | 76A | - | €29,000 | +€29,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €795 | €795 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,628 | €1,330 | -€1,298 | -49.4% |
| Gross operating margin | 9900 | -€21,734 | -€18,291 | +€3,443 | +15.8% |
| Operating profit (loss) | 9901 | -€25,157 | -€20,416 | +€4,740 | +18.8% |
| Financial income | 75/76B | €109,669 | €286,263 | +€176,594 | +161% |
| Recurring financial income | 75 | €109,669 | €286,263 | +€176,594 | +161% |
| Financial charges | 65/66B | €5,503 | €4,392 | -€1,111 | -20.2% |
| Recurring financial charges | 65 | €5,503 | €4,392 | -€1,111 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €79,010 | €261,455 | +€182,445 | +231% |
| Income taxes | 67/77 | €6,620 | €38,646 | +€32,026 | +484% |
| Profit (loss) for the period | 9904 | €72,389 | €222,809 | +€150,419 | +208% |
| Profit (loss) for the period to be appropriated | 9905 | €72,389 | €222,809 | +€150,419 | +208% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.