ARNAUD STEVENS: 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.
ARNAUD STEVENS
Largest movements
- Cash +€237,352
up €237,352 (+80.0%), from €296,738 to €534,089
mainly Net result for the year (+€192,111) and Current investments (+€46,585)
- Current investments -€46,585
down €46,585 (-100.0%), from €46,585 to €0
- Tangible fixed assets -€20,350
down €20,350 (-23.5%), from €86,477 to €66,127
of which Furniture and vehicles: -€19,073
- Deferred charges and accrued income +€10,971
up €10,971 (+15.2%), from €72,231 to €83,202
- Receivables within one year +€7,720
up €7,720 (+292.3%), from €2,641 to €10,361
of which Other amounts receivable: +€10,361
- Reserves +€192,111
up €192,111 (+41.4%), from €464,159 to €656,269
- Depreciation +€6,034
up €6,034 (+42.1%), from €14,316 to €20,350
- Financial income +€5,306
up €5,306 (+2825.6%), from €188 to €5,494
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 | €505,072 | €694,178 | +€189,106 | +37.4% |
| Fixed assets | 21/28 | €86,877 | €66,527 | -€20,350 | -23.4% |
| Tangible fixed assets | 22/27 | €86,477 | €66,127 | -€20,350 | -23.5% |
| Plant, machinery and equipment | 23 | €3,900 | €2,623 | -€1,277 | -32.7% |
| Furniture and vehicles | 24 | €82,577 | €63,503 | -€19,073 | -23.1% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €418,195 | €627,652 | +€209,457 | +50.1% |
| Amounts receivable within one year | 40/41 | €2,641 | €10,361 | +€7,720 | +292.3% |
| Trade receivables | 40 | €2,641 | €0 | -€2,641 | -100.0% |
| Other amounts receivable | 41 | - | €10,361 | +€10,361 | |
| Current investments | 50/53 | €46,585 | €0 | -€46,585 | -100.0% |
| Cash at bank and in hand | 54/58 | €296,738 | €534,089 | +€237,352 | +80.0% |
| Deferred charges and accrued income | 490/1 | €72,231 | €83,202 | +€10,971 | +15.2% |
| Total equity and liabilities | 10/49 | €505,072 | €694,178 | +€189,106 | +37.4% |
| Equity | 10/15 | €482,709 | €674,819 | +€192,111 | +39.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €464,159 | €656,269 | +€192,111 | +41.4% |
| Distributable reserves | 133 | €464,159 | €656,269 | +€192,111 | +41.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €22,363 | €19,359 | -€3,004 | -13.4% |
| Amounts payable within one year | 42/48 | €22,363 | €19,359 | -€3,004 | -13.4% |
| Trade debts | 44 | €47 | €30 | -€17 | -36.8% |
| Suppliers | 440/4 | €47 | €30 | -€17 | -36.8% |
| Taxes, remuneration and social security | 45 | €21,757 | €19,329 | -€2,429 | -11.2% |
| Taxes | 450/3 | €21,757 | €19,329 | -€2,429 | -11.2% |
| Other amounts payable | 47/48 | €558 | €0 | -€558 | -100.0% |
| Non-recurring operating income | 76A | €13,915 | €0 | -€13,915 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,316 | €20,350 | +€6,034 | +42.1% |
| Other operating charges | 640/8 | €589 | €597 | +€8 | +1.4% |
| Gross operating margin | 9900 | €264,335 | €264,133 | -€202 | -0.1% |
| Operating profit (loss) | 9901 | €249,430 | €243,186 | -€6,244 | -2.5% |
| Financial income | 75/76B | €188 | €5,494 | +€5,306 | +2825.6% |
| Recurring financial income | 75 | €188 | €5,494 | +€5,306 | +2825.6% |
| Financial charges | 65/66B | -€2,445 | -€1,905 | +€540 | +22.1% |
| Recurring financial charges | 65 | -€2,445 | -€1,905 | +€540 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €252,063 | €250,585 | -€1,478 | -0.6% |
| Income taxes | 67/77 | €58,904 | €58,474 | -€430 | -0.7% |
| Profit (loss) for the period | 9904 | €193,159 | €192,111 | -€1,048 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €193,159 | €192,111 | -€1,048 | -0.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.