ARNOW: 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.
ARNOW
Largest movements
- Cash -€6,800
down €6,800 (-84.3%), from €8,071 to €1,271
mainly Net result for the year (-€17,292) and Deferred charges and accrued income (-€538)
- Receivables within one year -€809
no longer reported in 2025 (was €809)
- Deferred charges and accrued income +€538
new in 2025: €538
- Formation expenses -€472
down €472 (-20.0%), from €2,357 to €1,885
- Profit (loss) carried forward -€17,292
down €17,292, from €1,843 to -€15,449
- Tax, wage and social debts +€7,431
up €7,431 (+572.4%), from €1,298 to €8,729
- Other debts +€2,015
up €2,015 (+79.3%), from €2,539 to €4,554
- Trade debts +€304
up €304 (+11.9%), from €2,556 to €2,860
- Gross operating margin -€17,919
down €17,919, from €2,470 to -€15,449
- Other operating charges +€721
new in 2025: €721
- Financial charges +€562
new in 2025: €562
- Taxes -€525
down €525 (-84.0%), from €625 to €100
- Depreciation +€470
up €470 (+36458.1%), from €1 to €472
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 | €11,237 | €3,694 | -€7,543 | -67.1% |
| Formation expenses | 20 | €2,357 | €1,885 | -€472 | -20.0% |
| Current assets | 29/58 | €8,880 | €1,809 | -€7,071 | -79.6% |
| Amounts receivable within one year | 40/41 | €809 | - | -€809 | |
| Trade receivables | 40 | €809 | - | -€809 | |
| Cash at bank and in hand | 54/58 | €8,071 | €1,271 | -€6,800 | -84.3% |
| Deferred charges and accrued income | 490/1 | - | €538 | +€538 | |
| Total equity and liabilities | 10/49 | €11,237 | €3,694 | -€7,543 | -67.1% |
| Equity | 10/15 | €4,843 | -€12,449 | -€17,292 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,843 | -€15,449 | -€17,292 | |
| Amounts payable | 17/49 | €6,394 | €16,143 | +€9,750 | +152.5% |
| Amounts payable within one year | 42/48 | €6,394 | €16,143 | +€9,750 | +152.5% |
| Trade debts | 44 | €2,556 | €2,860 | +€304 | +11.9% |
| Suppliers | 440/4 | €2,556 | €2,860 | +€304 | +11.9% |
| Taxes, remuneration and social security | 45 | €1,298 | €8,729 | +€7,431 | +572.4% |
| Taxes | 450/3 | €1,298 | €8,729 | +€7,431 | +572.4% |
| Other amounts payable | 47/48 | €2,539 | €4,554 | +€2,015 | +79.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1 | €472 | +€470 | +36458.1% |
| Other operating charges | 640/8 | - | €721 | +€721 | |
| Gross operating margin | 9900 | €2,470 | -€15,449 | -€17,919 | |
| Operating profit (loss) | 9901 | €2,469 | -€16,642 | -€19,110 | |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | - | €562 | +€562 | |
| Recurring financial charges | 65 | - | €562 | +€562 | |
| Profit (loss) for the period before taxes | 9903 | €2,469 | -€17,192 | -€19,661 | |
| Income taxes | 67/77 | €625 | €100 | -€525 | -84.0% |
| Profit (loss) for the period | 9904 | €1,843 | -€17,292 | -€19,136 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,843 | -€17,292 | -€19,136 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.