Arno: 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.
Arno
Largest movements
- Receivables after one year +€624,734
new in 2025: €624,734
- Receivables within one year -€517,516
down €517,516 (-64.0%), from €808,283 to €290,767
of which Trade receivables: -€511,685
- Tangible fixed assets +€172,533
up €172,533 (+17.8%), from €966,709 to €1.1m
of which Land and buildings: +€213,374
- Cash -€107,353
down €107,353 (-32.4%), from €331,274 to €223,921
mainly Receivables after one year (-€624,734) and Investment in fixed assets (net) (-€318,448)
- Debts after one year +€253,816
up €253,816 (+136%), from €187,306 to €441,122
- Trade debts -€106,172
down €106,172 (-71.1%), from €149,405 to €43,233
- Reserves +€91,486
up €91,486 (+6.5%), from €1.4m to €1.5m
of which Distributable reserves: +€91,486
- Tax, wage and social debts -€52,891
down €52,891 (-52.3%), from €101,163 to €48,272
of which Taxes: -€55,686
- Other debts -€34,425
down €34,425 (-97.1%), from €35,466 to €1,041
- Gross operating margin +€161,408
up €161,408 (+41.5%), from €388,838 to €550,245
- Depreciation +€53,799
up €53,799 (+58.1%), from €92,575 to €146,374
- Taxes +€26,792
up €26,792 (+30.5%), from €87,857 to €114,649
- Financial charges +€17,003
up €17,003 (+302%), from €5,622 to €22,626
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 | €2,129,533 | €2,301,112 | +€171,579 | +8.1% |
| Fixed assets | 21/28 | €967,168 | €1,139,242 | +€172,074 | +17.8% |
| Intangible fixed assets | 21 | €459 | - | -€459 | |
| Tangible fixed assets | 22/27 | €966,709 | €1,139,242 | +€172,533 | +17.8% |
| Land and buildings | 22 | €783,423 | €996,797 | +€213,374 | +27.2% |
| Plant, machinery and equipment | 23 | €260 | €182 | -€78 | -30.0% |
| Furniture and vehicles | 24 | €183,026 | €142,263 | -€40,763 | -22.3% |
| Current assets | 29/58 | €1,162,364 | €1,161,870 | -€495 | 0.0% |
| Amounts receivable after more than one year | 29 | - | €624,734 | +€624,734 | |
| Other amounts receivable | 291 | - | €624,734 | +€624,734 | |
| Amounts receivable within one year | 40/41 | €808,283 | €290,767 | -€517,516 | -64.0% |
| Trade receivables | 40 | €780,581 | €268,897 | -€511,685 | -65.6% |
| Other amounts receivable | 41 | €27,702 | €21,871 | -€5,831 | -21.0% |
| Current investments | 50/53 | €18,298 | €18,438 | +€140 | +0.8% |
| Cash at bank and in hand | 54/58 | €331,274 | €223,921 | -€107,353 | -32.4% |
| Deferred charges and accrued income | 490/1 | €4,509 | €4,010 | -€499 | -11.1% |
| Total equity and liabilities | 10/49 | €2,129,533 | €2,301,112 | +€171,579 | +8.1% |
| Equity | 10/15 | €1,612,909 | €1,704,394 | +€91,486 | +5.7% |
| Contributions | 10/11 | €201,250 | €201,250 | = | 0.0% |
| Reserves | 13 | €1,411,659 | €1,503,144 | +€91,486 | +6.5% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,392,909 | €1,484,394 | +€91,486 | +6.6% |
| Amounts payable | 17/49 | €516,624 | €596,718 | +€80,093 | +15.5% |
| Amounts payable after more than one year | 17 | €187,306 | €441,122 | +€253,816 | +136% |
| Financial debts | 170/4 | €187,306 | €441,122 | +€253,816 | +136% |
| Amounts payable within one year | 42/48 | €321,853 | €150,495 | -€171,358 | -53.2% |
| Current portion of amounts payable after more than one year | 42 | €35,819 | €57,949 | +€22,130 | +61.8% |
| Trade debts | 44 | €149,405 | €43,233 | -€106,172 | -71.1% |
| Suppliers | 440/4 | €149,405 | €43,233 | -€106,172 | -71.1% |
| Taxes, remuneration and social security | 45 | €101,163 | €48,272 | -€52,891 | -52.3% |
| Taxes | 450/3 | €99,168 | €43,482 | -€55,686 | -56.2% |
| Remuneration and social security | 454/9 | €1,995 | €4,790 | +€2,795 | +140% |
| Other amounts payable | 47/48 | €35,466 | €1,041 | -€34,425 | -97.1% |
| Accrued charges and deferred income | 492/3 | €7,466 | €5,101 | -€2,365 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,575 | €146,374 | +€53,799 | +58.1% |
| Other operating charges | 640/8 | €9,671 | €12,071 | +€2,399 | +24.8% |
| Gross operating margin | 9900 | €388,838 | €550,245 | +€161,408 | +41.5% |
| Operating profit (loss) | 9901 | €286,591 | €391,800 | +€105,209 | +36.7% |
| Financial income | 75/76B | €3,303 | €5,241 | +€1,938 | +58.7% |
| Recurring financial income | 75 | €3,303 | €5,241 | +€1,938 | +58.7% |
| Financial charges | 65/66B | €5,622 | €22,626 | +€17,003 | +302% |
| Recurring financial charges | 65 | €5,622 | €22,626 | +€17,003 | +302% |
| Profit (loss) for the period before taxes | 9903 | €284,272 | €374,416 | +€90,144 | +31.7% |
| Income taxes | 67/77 | €87,857 | €114,649 | +€26,792 | +30.5% |
| Profit (loss) for the period | 9904 | €196,414 | €259,767 | +€63,353 | +32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €196,414 | €259,767 | +€63,353 | +32.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.