ARNOLD: what changed
Two fiscal 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.
ARNOLD
Largest movements
- Current investments +€200,000
up €200,000 (+50.0%), from €400,000 to €600,000
- Stocks and contracts +€184,221
up €184,221 (+28.8%), from €640,742 to €824,963
- Cash -€88,620
down €88,620 (-31.7%), from €279,432 to €190,812
mainly Contributions, distributions and other (-€644,360) and Current investments (-€200,000)
- Tangible fixed assets -€56,024
down €56,024 (-19.3%), from €289,575 to €233,551
of which Other tangible fixed assets: -€42,771
- Other debts +€428,054
up €428,054 (+428.1%), from €100,000 to €528,054
- Reserves -€143,178
down €143,178 (-17.6%), from €812,881 to €669,703
of which Distributable reserves: -€143,178
- Tax, wage and social debts -€60,143
down €60,143 (-92.2%), from €65,240 to €5,098
of which Taxes: -€60,744
- Trade debts +€45,673
up €45,673 (+184.7%), from €24,729 to €70,403
- Debts after one year -€38,120
down €38,120 (-35.0%), from €109,002 to €70,882
- Gross operating margin +€80,036
up €80,036 (+13.1%), from €611,549 to €691,586
- Financial income +€9,248
up €9,248 (+80.3%), from €11,511 to €20,759
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 | €1,622,312 | €1,871,236 | +€248,924 | +15.3% |
| Fixed assets | 21/28 | €289,812 | €233,788 | -€56,024 | -19.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €289,575 | €233,551 | -€56,024 | -19.3% |
| Plant, machinery and equipment | 23 | €808 | €276 | -€533 | -65.9% |
| Furniture and vehicles | 24 | €38,644 | €25,924 | -€12,720 | -32.9% |
| Other tangible fixed assets | 26 | €250,122 | €207,351 | -€42,771 | -17.1% |
| Financial fixed assets | 28 | €237 | €237 | = | 0.0% |
| Current assets | 29/58 | €1,332,500 | €1,637,448 | +€304,948 | +22.9% |
| Stocks and contracts in progress | 3 | €640,742 | €824,963 | +€184,221 | +28.8% |
| Stocks | 30/36 | €640,742 | €824,963 | +€184,221 | +28.8% |
| Amounts receivable within one year | 40/41 | €10,344 | €19,614 | +€9,270 | +89.6% |
| Trade receivables | 40 | €3,570 | €1,688 | -€1,882 | -52.7% |
| Other amounts receivable | 41 | €6,774 | €17,926 | +€11,152 | +164.6% |
| Current investments | 50/53 | €400,000 | €600,000 | +€200,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €279,432 | €190,812 | -€88,620 | -31.7% |
| Deferred charges and accrued income | 490/1 | €1,981 | €2,059 | +€78 | +3.9% |
| Total equity and liabilities | 10/49 | €1,622,312 | €1,871,236 | +€248,924 | +15.3% |
| Equity | 10/15 | €1,234,158 | €1,090,980 | -€143,178 | -11.6% |
| Contributions | 10/11 | €142,000 | €142,000 | = | 0.0% |
| Capital | 10 | €142,000 | €142,000 | = | 0.0% |
| Issued capital | 100 | €142,000 | €142,000 | = | 0.0% |
| Reserves | 13 | €812,881 | €669,703 | -€143,178 | -17.6% |
| Non-distributable reserves | 130/1 | €14,200 | €14,200 | = | 0.0% |
| Legal reserve | 130 | €14,200 | €14,200 | = | 0.0% |
| Distributable reserves | 133 | €798,681 | €655,503 | -€143,178 | -17.9% |
| Profit (loss) carried forward | 14 | €279,277 | €279,277 | = | 0.0% |
| Amounts payable | 17/49 | €388,154 | €780,256 | +€392,102 | +101.0% |
| Amounts payable after more than one year | 17 | €109,002 | €70,882 | -€38,120 | -35.0% |
| Financial debts | 170/4 | €109,002 | €70,882 | -€38,120 | -35.0% |
| Amounts payable within one year | 42/48 | €227,710 | €641,674 | +€413,964 | +181.8% |
| Current portion of amounts payable after more than one year | 42 | €37,741 | €38,120 | +€379 | +1.0% |
| Trade debts | 44 | €24,729 | €70,403 | +€45,673 | +184.7% |
| Suppliers | 440/4 | €24,729 | €70,403 | +€45,673 | +184.7% |
| Taxes, remuneration and social security | 45 | €65,240 | €5,098 | -€60,143 | -92.2% |
| Taxes | 450/3 | €60,744 | €0 | -€60,744 | -100.0% |
| Remuneration and social security | 454/9 | €4,496 | €5,098 | +€601 | +13.4% |
| Other amounts payable | 47/48 | €100,000 | €528,054 | +€428,054 | +428.1% |
| Accrued charges and deferred income | 492/3 | €51,441 | €67,700 | +€16,258 | +31.6% |
| Remuneration, social security and pensions | 62 | €40,265 | €41,023 | +€758 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,855 | €56,024 | -€831 | -1.5% |
| Other operating charges | 640/8 | €2,246 | €2,495 | +€250 | +11.1% |
| Gross operating margin | 9900 | €611,549 | €691,586 | +€80,036 | +13.1% |
| Operating profit (loss) | 9901 | €512,183 | €592,044 | +€79,860 | +15.6% |
| Financial income | 75/76B | €11,511 | €20,759 | +€9,248 | +80.3% |
| Recurring financial income | 75 | €11,511 | €20,759 | +€9,248 | +80.3% |
| Financial charges | 65/66B | €2,431 | €2,160 | -€271 | -11.2% |
| Recurring financial charges | 65 | €2,431 | €2,160 | -€271 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €521,263 | €610,643 | +€89,379 | +17.1% |
| Income taxes | 67/77 | €110,956 | €109,461 | -€1,495 | -1.3% |
| Profit (loss) for the period | 9904 | €410,308 | €501,182 | +€90,874 | +22.1% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €410,308 | €501,182 | +€90,874 | +22.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.