ARNE BEYENS: 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.
ARNE BEYENS
Largest movements
- Stocks and contracts -€949,336
no longer reported in 2025 (was €949,336)
- Tangible fixed assets +€893,189
up €893,189 (+938%), from €95,203 to €988,392
of which Leasing and similar rights: +€889,038
- Receivables within one year +€108,778
up €108,778 (+99.3%), from €109,587 to €218,365
of which Trade receivables: +€91,106
- Cash -€83,006
down €83,006 (-56.2%), from €147,777 to €64,771
mainly Investment in fixed assets (net) (-€943,434) and Debts after one year (-€165,532)
- Debts after one year -€165,532
down €165,532 (-17.1%), from €968,642 to €803,110
- Profit (loss) carried forward +€113,867
up €113,867 (+53.2%), from €214,039 to €327,906
- Trade debts -€76,546
down €76,546 (-61.4%), from €124,613 to €48,067
- Current portion of long-term debt +€70,553
up €70,553 (+222%), from €31,845 to €102,398
- Gross operating margin +€177,637
up €177,637 (+124%), from €143,569 to €321,206
- Other operating charges +€53,564
up €53,564 (+1,900%), from €2,819 to €56,383
- Depreciation +€39,154
up €39,154 (+166%), from €23,591 to €62,745
- Staff costs +€36,656
up €36,656 (+99.7%), from €36,781 to €73,437
- Taxes -€11,396
down €11,396 (-62.1%), from €18,354 to €6,958
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 | €1,383,987 | €1,344,902 | -€39,085 | -2.8% |
| Fixed assets | 21/28 | €174,535 | €1,055,224 | +€880,689 | +505% |
| Intangible fixed assets | 21 | €79,332 | €66,832 | -€12,500 | -15.8% |
| Tangible fixed assets | 22/27 | €95,203 | €988,392 | +€893,189 | +938% |
| Land and buildings | 22 | €1,915 | €14,891 | +€12,976 | +678% |
| Plant, machinery and equipment | 23 | €18,054 | €22,158 | +€4,104 | +22.7% |
| Furniture and vehicles | 24 | €75,234 | €62,305 | -€12,929 | -17.2% |
| Leasing and similar rights | 25 | - | €889,038 | +€889,038 | |
| Current assets | 29/58 | €1,209,452 | €289,678 | -€919,774 | -76.0% |
| Stocks and contracts in progress | 3 | €949,336 | - | -€949,336 | |
| Stocks | 30/36 | €949,336 | - | -€949,336 | |
| Amounts receivable within one year | 40/41 | €109,587 | €218,365 | +€108,778 | +99.3% |
| Trade receivables | 40 | €76,850 | €167,956 | +€91,106 | +119% |
| Other amounts receivable | 41 | €32,737 | €50,409 | +€17,672 | +54.0% |
| Cash at bank and in hand | 54/58 | €147,777 | €64,771 | -€83,006 | -56.2% |
| Deferred charges and accrued income | 490/1 | €2,752 | €6,542 | +€3,790 | +138% |
| Total equity and liabilities | 10/49 | €1,383,987 | €1,344,902 | -€39,085 | -2.8% |
| Equity | 10/15 | €218,039 | €331,906 | +€113,867 | +52.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €214,039 | €327,906 | +€113,867 | +53.2% |
| Amounts payable | 17/49 | €1,165,948 | €1,012,996 | -€152,952 | -13.1% |
| Amounts payable after more than one year | 17 | €968,642 | €803,110 | -€165,532 | -17.1% |
| Financial debts | 170/4 | €968,642 | €803,110 | -€165,532 | -17.1% |
| Amounts payable within one year | 42/48 | €197,306 | €209,886 | +€12,580 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €31,845 | €102,398 | +€70,553 | +222% |
| Trade debts | 44 | €124,613 | €48,067 | -€76,546 | -61.4% |
| Suppliers | 440/4 | €124,613 | €48,067 | -€76,546 | -61.4% |
| Advances received on contracts in progress | 46 | €14,903 | €18,628 | +€3,725 | +25.0% |
| Taxes, remuneration and social security | 45 | €21,194 | €28,481 | +€7,287 | +34.4% |
| Taxes | 450/3 | €14,457 | €21,162 | +€6,705 | +46.4% |
| Remuneration and social security | 454/9 | €6,737 | €7,319 | +€582 | +8.6% |
| Other amounts payable | 47/48 | €4,751 | €12,312 | +€7,561 | +159% |
| Remuneration, social security and pensions | 62 | €36,781 | €73,437 | +€36,656 | +99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,591 | €62,745 | +€39,154 | +166% |
| Other operating charges | 640/8 | €2,819 | €56,383 | +€53,564 | +1,900% |
| Gross operating margin | 9900 | €143,569 | €321,206 | +€177,637 | +124% |
| Operating profit (loss) | 9901 | €80,378 | €128,641 | +€48,263 | +60.0% |
| Financial income | 75/76B | €122 | €454 | +€332 | +272% |
| Recurring financial income | 75 | €122 | €454 | +€332 | +272% |
| Financial charges | 65/66B | €18,723 | €8,270 | -€10,453 | -55.8% |
| Recurring financial charges | 65 | €18,723 | €8,270 | -€10,453 | -55.8% |
| Profit (loss) for the period before taxes | 9903 | €61,777 | €120,825 | +€59,048 | +95.6% |
| Income taxes | 67/77 | €18,354 | €6,958 | -€11,396 | -62.1% |
| Profit (loss) for the period | 9904 | €43,423 | €113,867 | +€70,444 | +162% |
| Profit (loss) for the period to be appropriated | 9905 | €43,423 | €113,867 | +€70,444 | +162% |
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 25 October 2026 via checked.be.