ARNELOR: 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.
ARNELOR
Largest movements
- Tangible fixed assets +€34,739
up €34,739 (+419%), from €8,295 to €43,034
of which Land and buildings: +€19,245
- Cash +€22,755
up €22,755 (+15.4%), from €147,784 to €170,538
mainly Net result for the year (+€90,508) and Receivables after one year (+€10,000)
- Receivables after one year -€10,000
down €10,000 (-12.7%), from €79,000 to €69,000
- Reserves +€90,508
up €90,508 (+39.7%), from €227,896 to €318,404
- Short-term financial debts -€30,993
down €30,993 (-61.8%), from €50,116 to €19,123
- Other debts -€16,623
down €16,623 (-100%), from €16,623 to €0
- Tax, wage and social debts +€5,830
up €5,830 (+1,367%), from €426 to €6,257
- Gross operating margin -€9,177
down €9,177 (-6.1%), from €149,589 to €140,411
- Taxes -€6,885
down €6,885 (-15.3%), from €45,145 to €38,261
- Depreciation +€3,008
up €3,008 (+48.6%), from €6,194 to €9,203
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 | €349,539 | €393,581 | +€44,043 | +12.6% |
| Fixed assets | 21/28 | €18,670 | €53,409 | +€34,739 | +186% |
| Tangible fixed assets | 22/27 | €8,295 | €43,034 | +€34,739 | +419% |
| Land and buildings | 22 | €4,548 | €23,793 | +€19,245 | +423% |
| Furniture and vehicles | 24 | €3,747 | €19,241 | +€15,494 | +414% |
| Financial fixed assets | 28 | €10,375 | €10,375 | = | 0.0% |
| Current assets | 29/58 | €330,869 | €340,172 | +€9,304 | +2.8% |
| Amounts receivable after more than one year | 29 | €79,000 | €69,000 | -€10,000 | -12.7% |
| Other amounts receivable | 291 | €79,000 | €69,000 | -€10,000 | -12.7% |
| Amounts receivable within one year | 40/41 | €97,014 | €96,405 | -€609 | -0.6% |
| Trade receivables | 40 | €33,467 | €25,675 | -€7,792 | -23.3% |
| Other amounts receivable | 41 | €63,547 | €70,731 | +€7,183 | +11.3% |
| Cash at bank and in hand | 54/58 | €147,784 | €170,538 | +€22,755 | +15.4% |
| Deferred charges and accrued income | 490/1 | €7,071 | €4,229 | -€2,842 | -40.2% |
| Total equity and liabilities | 10/49 | €349,539 | €393,581 | +€44,043 | +12.6% |
| Equity | 10/15 | €240,296 | €330,804 | +€90,508 | +37.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €227,896 | €318,404 | +€90,508 | +39.7% |
| Distributable reserves | 133 | €227,896 | €318,404 | +€90,508 | +39.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €109,243 | €62,777 | -€46,466 | -42.5% |
| Amounts payable after more than one year | 17 | €23,136 | €20,726 | -€2,410 | -10.4% |
| Financial debts | 170/4 | €23,136 | €20,726 | -€2,410 | -10.4% |
| Amounts payable within one year | 42/48 | €82,243 | €41,811 | -€40,432 | -49.2% |
| Current portion of amounts payable after more than one year | 42 | €3,552 | €3,913 | +€360 | +10.1% |
| Financial debts | 43 | €50,116 | €19,123 | -€30,993 | -61.8% |
| Credit institutions | 430/8 | €50,116 | €19,123 | -€30,993 | -61.8% |
| Trade debts | 44 | €11,525 | €12,518 | +€993 | +8.6% |
| Suppliers | 440/4 | €11,525 | €12,518 | +€993 | +8.6% |
| Taxes, remuneration and social security | 45 | €426 | €6,257 | +€5,830 | +1,367% |
| Taxes | 450/3 | €426 | €6,257 | +€5,830 | +1,367% |
| Other amounts payable | 47/48 | €16,623 | €0 | -€16,623 | -100% |
| Accrued charges and deferred income | 492/3 | €3,864 | €240 | -€3,624 | -93.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,194 | €9,203 | +€3,008 | +48.6% |
| Other operating charges | 640/8 | €2,209 | €994 | -€1,215 | -55.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €149,589 | €140,411 | -€9,177 | -6.1% |
| Operating profit (loss) | 9901 | €141,186 | €130,215 | -€10,971 | -7.8% |
| Financial income | 75/76B | €4,962 | €5,044 | +€82 | +1.6% |
| Recurring financial income | 75 | €4,962 | €5,044 | +€82 | +1.6% |
| Financial charges | 65/66B | €5,315 | €6,490 | +€1,175 | +22.1% |
| Recurring financial charges | 65 | €5,315 | €6,490 | +€1,175 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €140,833 | €128,769 | -€12,064 | -8.6% |
| Income taxes | 67/77 | €45,145 | €38,261 | -€6,885 | -15.3% |
| Profit (loss) for the period | 9904 | €95,688 | €90,508 | -€5,179 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €95,688 | €90,508 | -€5,179 | -5.4% |
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 13 October 2026 via checked.be.