ARNAUD STOCKMAN: 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.
ARNAUD STOCKMAN
Largest movements
- Cash -€108,103
down €108,103 (-67.6%), from €159,977 to €51,874
mainly Contributions, distributions and other (-€635,750) and Other debts (-€59,813)
- Current investments +€50,000
up €50,000 (+11.1%), from €450,000 to €500,000
- Tangible fixed assets -€20,212
down €20,212 (-14.9%), from €135,578 to €115,366
of which Furniture and vehicles: -€11,394
- Deferred charges and accrued income +€17,782
up €17,782 (+430%), from €4,131 to €21,912
- Other debts -€59,813
down €59,813 (-8.1%), from €739,729 to €679,916
- Gross operating margin -€66,515
down €66,515 (-7.1%), from €939,581 to €873,067
- Taxes -€15,757
down €15,757 (-7.1%), from €223,369 to €207,613
- Financial charges -€15,707
down €15,707 (-99.7%), from €15,752 to €45
- Depreciation +€10,810
up €10,810 (+48.3%), from €22,380 to €33,191
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 | €749,686 | €689,152 | -€60,533 | -8.1% |
| Fixed assets | 21/28 | €135,578 | €115,366 | -€20,212 | -14.9% |
| Tangible fixed assets | 22/27 | €135,578 | €115,366 | -€20,212 | -14.9% |
| Plant, machinery and equipment | 23 | €14,384 | €13,932 | -€452 | -3.1% |
| Furniture and vehicles | 24 | €68,504 | €57,110 | -€11,394 | -16.6% |
| Other tangible fixed assets | 26 | €52,690 | €44,324 | -€8,365 | -15.9% |
| Current assets | 29/58 | €614,107 | €573,786 | -€40,321 | -6.6% |
| Current investments | 50/53 | €450,000 | €500,000 | +€50,000 | +11.1% |
| Cash at bank and in hand | 54/58 | €159,977 | €51,874 | -€108,103 | -67.6% |
| Deferred charges and accrued income | 490/1 | €4,131 | €21,912 | +€17,782 | +430% |
| Total equity and liabilities | 10/49 | €749,686 | €689,152 | -€60,533 | -8.1% |
| Equity | 10/15 | €2,500 | €2,500 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €747,186 | €686,652 | -€60,533 | -8.1% |
| Amounts payable within one year | 42/48 | €746,362 | €686,242 | -€60,120 | -8.1% |
| Trade debts | 44 | €1,025 | €0 | -€1,025 | -100% |
| Suppliers | 440/4 | €1,025 | €0 | -€1,025 | -100% |
| Taxes, remuneration and social security | 45 | €5,607 | €6,326 | +€718 | +12.8% |
| Taxes | 450/3 | €5,607 | €6,326 | +€718 | +12.8% |
| Other amounts payable | 47/48 | €739,729 | €679,916 | -€59,813 | -8.1% |
| Accrued charges and deferred income | 492/3 | €824 | €410 | -€413 | -50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,380 | €33,191 | +€10,810 | +48.3% |
| Other operating charges | 640/8 | €1,295 | €758 | -€538 | -41.5% |
| Gross operating margin | 9900 | €939,581 | €873,067 | -€66,515 | -7.1% |
| Operating profit (loss) | 9901 | €915,906 | €839,118 | -€76,787 | -8.4% |
| Financial income | 75/76B | €10,648 | €4,289 | -€6,359 | -59.7% |
| Recurring financial income | 75 | €10,648 | €4,289 | -€6,359 | -59.7% |
| Financial charges | 65/66B | €15,752 | €45 | -€15,707 | -99.7% |
| Recurring financial charges | 65 | €15,752 | €45 | -€15,707 | -99.7% |
| Profit (loss) for the period before taxes | 9903 | €910,802 | €843,362 | -€67,440 | -7.4% |
| Income taxes | 67/77 | €223,369 | €207,613 | -€15,757 | -7.1% |
| Profit (loss) for the period | 9904 | €687,433 | €635,750 | -€51,683 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €687,433 | €635,750 | -€51,683 | -7.5% |
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 28 October 2026 via checked.be.