ARNRO: 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.
ARNRO
Largest movements
- Current investments +€163,940
up €163,940 (+68.6%), from €238,900 to €402,840
- Cash -€80,108
down €80,108 (-77.3%), from €103,591 to €23,483
mainly Current investments (-€163,940) and Trade debts (-€150,564)
- Receivables within one year +€12,770
up €12,770 (+17.9%), from €71,394 to €84,164
of which Other amounts receivable: +€11,298
- Other debts +€239,921
up €239,921 (+94160.5%), from €255 to €240,176
- Revaluation surpluses +€163,940
up €163,940 (+245.4%), from €66,810 to €230,750
- Profit (loss) carried forward -€155,251
down €155,251 (-88.9%), from €174,626 to €19,375
- Trade debts -€150,564
down €150,564 (-99.4%), from €151,423 to €859
- Tax, wage and social debts -€5,400
down €5,400 (-25.3%), from €21,366 to €15,967
- Gross operating margin +€72,960
up €72,960 (+60.7%), from €120,114 to €193,074
- Taxes +€13,810
up €13,810 (+46.8%), from €29,536 to €43,346
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 | €429,480 | €522,126 | +€92,646 | +21.6% |
| Fixed assets | 21/28 | €14,147 | €10,419 | -€3,729 | -26.4% |
| Tangible fixed assets | 22/27 | €4,147 | €419 | -€3,729 | -89.9% |
| Furniture and vehicles | 24 | €4,147 | €419 | -€3,729 | -89.9% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €415,333 | €511,708 | +€96,375 | +23.2% |
| Amounts receivable within one year | 40/41 | €71,394 | €84,164 | +€12,770 | +17.9% |
| Trade receivables | 40 | €40,003 | €41,475 | +€1,472 | +3.7% |
| Other amounts receivable | 41 | €31,392 | €42,689 | +€11,298 | +36.0% |
| Current investments | 50/53 | €238,900 | €402,840 | +€163,940 | +68.6% |
| Cash at bank and in hand | 54/58 | €103,591 | €23,483 | -€80,108 | -77.3% |
| Deferred charges and accrued income | 490/1 | €1,448 | €1,220 | -€227 | -15.7% |
| Total equity and liabilities | 10/49 | €429,480 | €522,126 | +€92,646 | +21.6% |
| Equity | 10/15 | €256,436 | €265,125 | +€8,689 | +3.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Revaluation surpluses | 12 | €66,810 | €230,750 | +€163,940 | +245.4% |
| Profit (loss) carried forward | 14 | €174,626 | €19,375 | -€155,251 | -88.9% |
| Amounts payable | 17/49 | €173,044 | €257,002 | +€83,957 | +48.5% |
| Amounts payable within one year | 42/48 | €173,044 | €257,002 | +€83,957 | +48.5% |
| Trade debts | 44 | €151,423 | €859 | -€150,564 | -99.4% |
| Suppliers | 440/4 | €151,423 | €859 | -€150,564 | -99.4% |
| Taxes, remuneration and social security | 45 | €21,366 | €15,967 | -€5,400 | -25.3% |
| Taxes | 450/3 | €21,366 | €15,967 | -€5,400 | -25.3% |
| Other amounts payable | 47/48 | €255 | €240,176 | +€239,921 | +94160.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,358 | €4,027 | -€332 | -7.6% |
| Other operating charges | 640/8 | €970 | €870 | -€100 | -10.3% |
| Gross operating margin | 9900 | €120,114 | €193,074 | +€72,960 | +60.7% |
| Operating profit (loss) | 9901 | €114,786 | €188,177 | +€73,392 | +63.9% |
| Financial charges | 65/66B | €135 | €83 | -€52 | -38.6% |
| Recurring financial charges | 65 | €135 | €83 | -€52 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €114,651 | €188,095 | +€73,444 | +64.1% |
| Income taxes | 67/77 | €29,536 | €43,346 | +€13,810 | +46.8% |
| Profit (loss) for the period | 9904 | €85,115 | €144,749 | +€59,634 | +70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €85,115 | €144,749 | +€59,634 | +70.1% |
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 29 September 2026 via checked.be.