ARNOULD JEROME: 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.
ARNOULD JEROME
Largest movements
- Stocks and contracts -€82,500
down €82,500 (-60.0%), from €137,500 to €55,000
- Receivables within one year -€70,647
down €70,647 (-46.9%), from €150,552 to €79,905
of which Trade receivables: -€81,306
- Tangible fixed assets +€38,342
up €38,342 (+4.7%), from €822,332 to €860,674
of which Land and buildings: +€33,834
- Cash +€16,117
up €16,117 (+14,730%), from €109 to €16,226
mainly Depreciation (+€82,617) and Stocks and contracts (+€82,500)
- Reserves +€128,761
up €128,761 (+9,598%), from €1,342 to €130,102
of which Distributable reserves: +€128,761
- Profit (loss) carried forward -€100,681
down €100,681 (-96.7%), from €104,149 to €3,468
- Short-term financial debts -€65,000
down €65,000 (-100%), from €65,000 to €0
- Trade debts -€55,648
down €55,648 (-41.1%), from €135,440 to €79,792
- Tax, wage and social debts +€20,769
up €20,769 (+58.8%), from €35,312 to €56,081
of which Taxes: +€19,982
- Gross operating margin +€168,011
up €168,011 (+44.0%), from €381,710 to €549,721
- Staff costs +€146,759
up €146,759 (+62.7%), from €234,205 to €380,964
- Financial charges +€12,252
up €12,252 (+37.7%), from €32,515 to €44,766
of which Financial charges: +€12,341
- Taxes +€10,107
new in 2025: €10,107
- Depreciation +€7,439
up €7,439 (+9.9%), from €75,178 to €82,617
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.
Derived cash bridge
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 | €1,119,287 | €1,020,045 | -€99,242 | -8.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €822,507 | €860,849 | +€38,342 | +4.7% |
| Tangible fixed assets | 22/27 | €822,332 | €860,674 | +€38,342 | +4.7% |
| Land and buildings | 22 | €683,775 | €717,610 | +€33,834 | +4.9% |
| Plant, machinery and equipment | 23 | €60,721 | €51,149 | -€9,572 | -15.8% |
| Furniture and vehicles | 24 | €77,324 | €91,916 | +€14,592 | +18.9% |
| Leasing and similar rights | 25 | €512 | €0 | -€512 | -100% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €296,779 | €159,196 | -€137,583 | -46.4% |
| Stocks and contracts in progress | 3 | €137,500 | €55,000 | -€82,500 | -60.0% |
| Stocks | 30/36 | €137,500 | €55,000 | -€82,500 | -60.0% |
| Amounts receivable within one year | 40/41 | €150,552 | €79,905 | -€70,647 | -46.9% |
| Trade receivables | 40 | €140,062 | €58,756 | -€81,306 | -58.0% |
| Other amounts receivable | 41 | €10,489 | €21,148 | +€10,659 | +102% |
| Cash at bank and in hand | 54/58 | €109 | €16,226 | +€16,117 | +14,730% |
| Deferred charges and accrued income | 490/1 | €8,618 | €8,065 | -€553 | -6.4% |
| Total equity and liabilities | 10/49 | €1,119,287 | €1,020,045 | -€99,242 | -8.9% |
| Equity | 10/15 | €124,083 | €152,162 | +€28,079 | +22.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,342 | €130,102 | +€128,761 | +9,598% |
| Non-distributable reserves | 130/1 | €102 | €102 | = | 0.0% |
| Reserves not available under the articles | 1311 | €102 | €102 | = | 0.0% |
| Distributable reserves | 133 | €1,239 | €130,000 | +€128,761 | +10,388% |
| Profit (loss) carried forward | 14 | €104,149 | €3,468 | -€100,681 | -96.7% |
| Amounts payable | 17/49 | €995,204 | €867,883 | -€127,321 | -12.8% |
| Amounts payable after more than one year | 17 | €677,326 | €666,232 | -€11,093 | -1.6% |
| Financial debts | 170/4 | €677,326 | €666,232 | -€11,093 | -1.6% |
| Amounts payable within one year | 42/48 | €317,618 | €199,026 | -€118,592 | -37.3% |
| Current portion of amounts payable after more than one year | 42 | €38,010 | €40,178 | +€2,168 | +5.7% |
| Financial debts | 43 | €65,000 | €0 | -€65,000 | -100% |
| Credit institutions | 430/8 | €65,000 | €0 | -€65,000 | -100% |
| Trade debts | 44 | €135,440 | €79,792 | -€55,648 | -41.1% |
| Suppliers | 440/4 | €135,440 | €79,792 | -€55,648 | -41.1% |
| Advances received on contracts in progress | 46 | €1,000 | - | -€1,000 | |
| Taxes, remuneration and social security | 45 | €35,312 | €56,081 | +€20,769 | +58.8% |
| Taxes | 450/3 | €472 | €20,454 | +€19,982 | +4,237% |
| Remuneration and social security | 454/9 | €34,841 | €35,627 | +€787 | +2.3% |
| Other amounts payable | 47/48 | €42,855 | €22,975 | -€19,880 | -46.4% |
| Accrued charges and deferred income | 492/3 | €261 | €2,625 | +€2,364 | +907% |
| Non-recurring operating income | 76A | - | €4,487 | +€4,487 | |
| Remuneration, social security and pensions | 62 | €234,205 | €380,964 | +€146,759 | +62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,178 | €82,617 | +€7,439 | +9.9% |
| Other operating charges | 640/8 | €1,780 | €2,780 | +€1,000 | +56.2% |
| Non-recurring operating charges | 66A | - | €449 | +€449 | |
| Gross operating margin | 9900 | €381,710 | €549,721 | +€168,011 | +44.0% |
| Operating profit (loss) | 9901 | €70,547 | €82,911 | +€12,364 | +17.5% |
| Financial income | 75/76B | €291 | €42 | -€249 | -85.7% |
| Recurring financial income | 75 | €85 | €42 | -€43 | -51.0% |
| Non-recurring financial income | 76B | €206 | - | -€206 | |
| Financial charges | 65/66B | €32,515 | €44,766 | +€12,252 | +37.7% |
| Recurring financial charges | 65 | €32,425 | €44,766 | +€12,341 | +38.1% |
| Non-recurring financial charges | 66B | €90 | - | -€90 | |
| Profit (loss) for the period before taxes | 9903 | €38,324 | €38,186 | -€137 | -0.4% |
| Income taxes | 67/77 | - | €10,107 | +€10,107 | |
| Profit (loss) for the period | 9904 | €38,324 | €28,079 | -€10,244 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,324 | €28,079 | -€10,244 | -26.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.