ARNOUDIZER: 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.
ARNOUDIZER
Largest movements
- Cash -€279,101
down €279,101 (-75.0%), from €372,036 to €92,935
mainly Current investments (-€250,000) and Receivables within one year (-€200,244)
- Current investments +€250,000
up €250,000 (+250.0%), from €100,000 to €350,000
- Receivables within one year +€200,244
up €200,244 (+101.4%), from €197,479 to €397,722
- Deferred charges and accrued income -€21,193
down €21,193 (-100.0%), from €21,193 to €0
- Reserves +€177,340
up €177,340 (+30.3%), from €584,839 to €762,179
- Tax, wage and social debts -€46,747
down €46,747 (-44.9%), from €104,108 to €57,361
- Accrued charges and deferred income +€21,000
new in 2025: €21,000
- Gross operating margin +€11,800
up €11,800 (+5.6%), from €211,749 to €223,549
- Taxes +€7,957
up €7,957 (+15.1%), from €52,589 to €60,546
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 | €697,967 | €849,054 | +€151,086 | +21.6% |
| Fixed assets | 21/28 | €7,259 | €8,397 | +€1,137 | +15.7% |
| Tangible fixed assets | 22/27 | €7,259 | €8,397 | +€1,137 | +15.7% |
| Plant, machinery and equipment | 23 | €1,533 | €1,321 | -€212 | -13.8% |
| Furniture and vehicles | 24 | €5,726 | €7,076 | +€1,349 | +23.6% |
| Current assets | 29/58 | €690,708 | €840,657 | +€149,949 | +21.7% |
| Amounts receivable within one year | 40/41 | €197,479 | €397,722 | +€200,244 | +101.4% |
| Other amounts receivable | 41 | €197,479 | €397,722 | +€200,244 | +101.4% |
| Current investments | 50/53 | €100,000 | €350,000 | +€250,000 | +250.0% |
| Cash at bank and in hand | 54/58 | €372,036 | €92,935 | -€279,101 | -75.0% |
| Deferred charges and accrued income | 490/1 | €21,193 | €0 | -€21,193 | -100.0% |
| Total equity and liabilities | 10/49 | €697,967 | €849,054 | +€151,086 | +21.6% |
| Equity | 10/15 | €589,839 | €767,179 | +€177,340 | +30.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €584,839 | €762,179 | +€177,340 | +30.3% |
| Distributable reserves | 133 | €584,839 | €762,179 | +€177,340 | +30.3% |
| Amounts payable | 17/49 | €108,129 | €81,875 | -€26,254 | -24.3% |
| Amounts payable within one year | 42/48 | €108,129 | €60,875 | -€47,254 | -43.7% |
| Trade debts | 44 | €1,634 | €3,514 | +€1,880 | +115.1% |
| Suppliers | 440/4 | €1,634 | €3,514 | +€1,880 | +115.1% |
| Taxes, remuneration and social security | 45 | €104,108 | €57,361 | -€46,747 | -44.9% |
| Taxes | 450/3 | €104,108 | €57,361 | -€46,747 | -44.9% |
| Other amounts payable | 47/48 | €2,386 | €0 | -€2,386 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €21,000 | +€21,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,979 | €2,625 | +€645 | +32.6% |
| Other operating charges | 640/8 | €387 | €589 | +€202 | +52.2% |
| Gross operating margin | 9900 | €211,749 | €223,549 | +€11,800 | +5.6% |
| Operating profit (loss) | 9901 | €209,382 | €220,335 | +€10,952 | +5.2% |
| Financial income | 75/76B | €18,043 | €17,671 | -€372 | -2.1% |
| Recurring financial income | 75 | €18,043 | €17,671 | -€372 | -2.1% |
| Financial charges | 65/66B | €99 | €120 | +€21 | +21.5% |
| Recurring financial charges | 65 | €99 | €120 | +€21 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | €227,327 | €237,886 | +€10,559 | +4.6% |
| Income taxes | 67/77 | €52,589 | €60,546 | +€7,957 | +15.1% |
| Profit (loss) for the period | 9904 | €174,738 | €177,340 | +€2,602 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €174,738 | €177,340 | +€2,602 | +1.5% |
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 12 October 2026 via checked.be.