ARNOULD: what changed
ARNOULD
Largest movements
- Receivables within one year -€46,081
down €46,081 (-32.5%), from €141,882 to €95,800
of which Trade receivables: -€73,268
- Cash +€8,056
up €8,056 (+16.2%), from €49,612 to €57,667
mainly Receivables within one year (+€46,081) and Depreciation (+€5,040)
- Tangible fixed assets -€5,040
down €5,040 (-53.8%), from €9,370 to €4,330
of which Furniture and vehicles: -€4,500
- Advances received -€20,000
down €20,000 (-100%), from €20,000 to €0
- Profit (loss) carried forward -€16,162
down €16,162 (-101%), from -€15,946 to -€32,108
- Tax, wage and social debts -€5,140
down €5,140 (-65.7%), from €7,824 to €2,684
of which Remuneration and social security: -€5,084
- Other operating charges -€22,048
down €22,048 (-96.3%), from €22,907 to €858
- Staff costs -€18,216
down €18,216 (-23.1%), from €78,767 to €60,552
- Gross operating margin -€14,861
down €14,861 (-22.7%), from €65,380 to €50,519
- Financial charges -€1,833
down €1,833 (-53.4%), from €3,434 to €1,601
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €235,864 | €192,513 | -€43,351 | -18.4% |
| Fixed assets | 21/28 | €9,505 | €4,465 | -€5,040 | -53.0% |
| Tangible fixed assets | 22/27 | €9,370 | €4,330 | -€5,040 | -53.8% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,269 | €728 | -€540 | -42.6% |
| Furniture and vehicles | 24 | €8,102 | €3,602 | -€4,500 | -55.5% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €226,359 | €188,048 | -€38,311 | -16.9% |
| Stocks and contracts in progress | 3 | €33,593 | €33,593 | = | 0.0% |
| Stocks | 30/36 | €33,593 | €33,593 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €141,882 | €95,800 | -€46,081 | -32.5% |
| Trade receivables | 40 | €110,341 | €37,074 | -€73,268 | -66.4% |
| Other amounts receivable | 41 | €31,540 | €58,727 | +€27,186 | +86.2% |
| Cash at bank and in hand | 54/58 | €49,612 | €57,667 | +€8,056 | +16.2% |
| Deferred charges and accrued income | 490/1 | €1,273 | €988 | -€285 | -22.4% |
| Total equity and liabilities | 10/49 | €235,864 | €192,513 | -€43,351 | -18.4% |
| Equity | 10/15 | €154,481 | €138,319 | -€16,162 | -10.5% |
| Contributions | 10/11 | €154,933 | €154,933 | = | 0.0% |
| Reserves | 13 | €15,493 | €15,493 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €15,493 | €15,493 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,946 | -€32,108 | -€16,162 | -101% |
| Amounts payable | 17/49 | €81,383 | €54,195 | -€27,189 | -33.4% |
| Amounts payable within one year | 42/48 | €81,008 | €54,195 | -€26,814 | -33.1% |
| Trade debts | 44 | €53,185 | €51,511 | -€1,674 | -3.1% |
| Suppliers | 440/4 | €53,185 | €51,511 | -€1,674 | -3.1% |
| Advances received on contracts in progress | 46 | €20,000 | €0 | -€20,000 | -100% |
| Taxes, remuneration and social security | 45 | €7,824 | €2,684 | -€5,140 | -65.7% |
| Taxes | 450/3 | €102 | €46 | -€56 | -54.5% |
| Remuneration and social security | 454/9 | €7,722 | €2,638 | -€5,084 | -65.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €375 | €0 | -€375 | -100% |
| Remuneration, social security and pensions | 62 | €78,767 | €60,552 | -€18,216 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,040 | €5,040 | +€0 | 0.0% |
| Other operating charges | 640/8 | €22,907 | €858 | -€22,048 | -96.3% |
| Gross operating margin | 9900 | €65,380 | €50,519 | -€14,861 | -22.7% |
| Operating profit (loss) | 9901 | -€41,334 | -€15,931 | +€25,403 | +61.5% |
| Financial income | 75/76B | €784 | €1,370 | +€586 | +74.7% |
| Recurring financial income | 75 | €784 | €1,370 | +€586 | +74.7% |
| Financial charges | 65/66B | €3,434 | €1,601 | -€1,833 | -53.4% |
| Recurring financial charges | 65 | €3,434 | €1,601 | -€1,833 | -53.4% |
| Profit (loss) for the period before taxes | 9903 | -€43,984 | -€16,162 | +€27,822 | +63.3% |
| Profit (loss) for the period | 9904 | -€43,984 | -€16,162 | +€27,822 | +63.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,984 | -€16,162 | +€27,822 | +63.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.