ARNOLOU: 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.
ARNOLOU
Largest movements
- Financial fixed assets -€150,000
no longer reported in 2025 (was €150,000)
- Cash +€149,409
up €149,409 (+1946.7%), from €7,675 to €157,084
mainly Investment in fixed assets (net) (+€84,726) and Depreciation (+€69,185)
- Receivables within one year +€17,676
up €17,676 (+157.3%), from €11,237 to €28,913
of which Other amounts receivable: +€14,444
- Profit (loss) carried forward +€65,286
up €65,286 (+291.0%), from €22,433 to €87,718
- Debts after one year -€30,706
down €30,706 (-12.4%), from €248,032 to €217,326
- Current portion of long-term debt -€19,508
down €19,508 (-32.6%), from €59,787 to €40,280
- Financial income +€75,361
new in 2025: €75,361
of which Non-recurring financial income: +€75,000
- Gross operating margin +€53,182
up €53,182 (+232.7%), from €22,856 to €76,038
- Depreciation +€41,005
up €41,005 (+145.5%), from €28,180 to €69,185
- Other operating charges +€5,271
up €5,271 (+648.2%), from €813 to €6,084
- Financial charges +€3,210
up €3,210 (+42.9%), from €7,490 to €10,700
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 | €496,968 | €510,141 | +€13,174 | +2.7% |
| Fixed assets | 21/28 | €478,056 | €324,145 | -€153,911 | -32.2% |
| Tangible fixed assets | 22/27 | €328,056 | €324,145 | -€3,911 | -1.2% |
| Land and buildings | 22 | €328,056 | €324,145 | -€3,911 | -1.2% |
| Financial fixed assets | 28 | €150,000 | - | -€150,000 | |
| Current assets | 29/58 | €18,912 | €185,997 | +€167,085 | +883.5% |
| Amounts receivable within one year | 40/41 | €11,237 | €28,913 | +€17,676 | +157.3% |
| Trade receivables | 40 | €2,687 | €5,919 | +€3,232 | +120.3% |
| Other amounts receivable | 41 | €8,550 | €22,994 | +€14,444 | +168.9% |
| Cash at bank and in hand | 54/58 | €7,675 | €157,084 | +€149,409 | +1946.7% |
| Total equity and liabilities | 10/49 | €496,968 | €510,141 | +€13,174 | +2.7% |
| Equity | 10/15 | €182,911 | €248,197 | +€65,286 | +35.7% |
| Contributions | 10/11 | €95,297 | €95,297 | = | 0.0% |
| Outside capital | 11 | €95,297 | €95,297 | = | 0.0% |
| Other | 1109/19 | €95,297 | €95,297 | = | 0.0% |
| Reserves | 13 | €65,181 | €65,181 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,181 | €4,181 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €4,181 | +€4,181 | |
| Other | 1319 | €4,181 | - | -€4,181 | |
| Distributable reserves | 133 | €61,000 | €61,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,433 | €87,718 | +€65,286 | +291.0% |
| Amounts payable | 17/49 | €314,056 | €261,944 | -€52,112 | -16.6% |
| Amounts payable after more than one year | 17 | €248,032 | €217,326 | -€30,706 | -12.4% |
| Financial debts | 170/4 | €248,032 | €217,326 | -€30,706 | -12.4% |
| Amounts payable within one year | 42/48 | €66,024 | €44,618 | -€21,406 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €59,787 | €40,280 | -€19,508 | -32.6% |
| Trade debts | 44 | €2,632 | €1,334 | -€1,299 | -49.3% |
| Suppliers | 440/4 | €2,632 | €1,334 | -€1,299 | -49.3% |
| Taxes, remuneration and social security | 45 | €3,605 | €3,005 | -€600 | -16.6% |
| Taxes | 450/3 | €3,605 | €3,005 | -€600 | -16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,180 | €69,185 | +€41,005 | +145.5% |
| Other operating charges | 640/8 | €813 | €6,084 | +€5,271 | +648.2% |
| Gross operating margin | 9900 | €22,856 | €76,038 | +€53,182 | +232.7% |
| Operating profit (loss) | 9901 | -€6,138 | €769 | +€6,907 | |
| Financial income | 75/76B | - | €75,361 | +€75,361 | |
| Recurring financial income | 75 | - | €361 | +€361 | |
| Non-recurring financial income | 76B | - | €75,000 | +€75,000 | |
| Financial charges | 65/66B | €7,490 | €10,700 | +€3,210 | +42.9% |
| Recurring financial charges | 65 | €7,490 | €10,700 | +€3,210 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,628 | €65,430 | +€79,058 | |
| Income taxes | 67/77 | - | €144 | +€144 | |
| Profit (loss) for the period | 9904 | -€13,628 | €65,286 | +€78,914 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,628 | €65,286 | +€78,914 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.