ARNOBEL: 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.
ARNOBEL
Largest movements
- Cash -€51,168
down €51,168 (-49.8%), from €102,728 to €51,560
mainly Receivables within one year (-€45,526) and Net result for the year (-€14,067)
- Receivables within one year +€45,526
up €45,526 (+221.9%), from €20,513 to €66,039
of which Trade receivables: +€37,000
- Tangible fixed assets -€21,650
down €21,650 (-7.4%), from €293,242 to €271,591
- Profit (loss) carried forward -€14,067
down €14,067 (-10.5%), from -€134,244 to -€148,311
- Debts after one year -€13,725
down €13,725 (-16.3%), from €84,261 to €70,536
- Depreciation -€6,154
down €6,154 (-19.4%), from €31,676 to €25,522
- Gross operating margin -€3,549
down €3,549 (-16.4%), from €21,572 to €18,024
- Financial charges -€1,017
down €1,017 (-40.8%), from €2,494 to €1,478
- Other operating charges +€583
up €583 (+10.0%), from €5,850 to €6,433
- Financial income +€355
up €355 (+36.0%), from €987 to €1,343
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 | €416,482 | €389,190 | -€27,292 | -6.6% |
| Fixed assets | 21/28 | €293,242 | €271,591 | -€21,650 | -7.4% |
| Tangible fixed assets | 22/27 | €293,242 | €271,591 | -€21,650 | -7.4% |
| Land and buildings | 22 | €293,242 | €271,591 | -€21,650 | -7.4% |
| Current assets | 29/58 | €123,240 | €117,598 | -€5,642 | -4.6% |
| Amounts receivable within one year | 40/41 | €20,513 | €66,039 | +€45,526 | +221.9% |
| Trade receivables | 40 | - | €37,000 | +€37,000 | |
| Other amounts receivable | 41 | €20,513 | €29,039 | +€8,526 | +41.6% |
| Cash at bank and in hand | 54/58 | €102,728 | €51,560 | -€51,168 | -49.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €416,482 | €389,190 | -€27,292 | -6.6% |
| Equity | 10/15 | €314,001 | €299,934 | -€14,067 | -4.5% |
| Contributions | 10/11 | €437,000 | €437,000 | = | 0.0% |
| Capital | 10 | €437,000 | €437,000 | = | 0.0% |
| Issued capital | 100 | €437,000 | €437,000 | = | 0.0% |
| Reserves | 13 | €11,245 | €11,245 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,047 | €5,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,244 | -€148,311 | -€14,067 | -10.5% |
| Provisions and deferred taxes | 16 | €2,599 | €2,599 | = | 0.0% |
| Deferred taxes | 168 | €2,599 | €2,599 | = | 0.0% |
| Amounts payable | 17/49 | €99,882 | €86,656 | -€13,225 | -13.2% |
| Amounts payable after more than one year | 17 | €84,261 | €70,536 | -€13,725 | -16.3% |
| Financial debts | 170/4 | €84,261 | €70,536 | -€13,725 | -16.3% |
| Amounts payable within one year | 42/48 | €14,376 | €14,876 | +€500 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €13,522 | €13,725 | +€203 | +1.5% |
| Trade debts | 44 | €854 | €1,151 | +€297 | +34.8% |
| Suppliers | 440/4 | €854 | €1,151 | +€297 | +34.8% |
| Accrued charges and deferred income | 492/3 | €1,245 | €1,244 | -€1 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,676 | €25,522 | -€6,154 | -19.4% |
| Other operating charges | 640/8 | €5,850 | €6,433 | +€583 | +10.0% |
| Gross operating margin | 9900 | €21,572 | €18,024 | -€3,549 | -16.4% |
| Operating profit (loss) | 9901 | -€15,953 | -€13,932 | +€2,022 | +12.7% |
| Financial income | 75/76B | €987 | €1,343 | +€355 | +36.0% |
| Recurring financial income | 75 | €987 | €1,343 | +€355 | +36.0% |
| Financial charges | 65/66B | €2,494 | €1,478 | -€1,017 | -40.8% |
| Recurring financial charges | 65 | €2,494 | €1,478 | -€1,017 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | -€17,460 | -€14,067 | +€3,393 | +19.4% |
| Transfer from deferred taxes | 780 | €2,475 | €0 | -€2,475 | -100.0% |
| Profit (loss) for the period | 9904 | -€14,985 | -€14,067 | +€919 | +6.1% |
| Transfer from tax-exempt reserves | 789 | €4,806 | €0 | -€4,806 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,179 | -€14,067 | -€3,887 | -38.2% |
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 10 October 2026 via checked.be.