AROFA: 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.
AROFA
Largest movements
- Receivables within one year +€178,571
up €178,571 (+80.3%), from €222,448 to €401,019
- Tangible fixed assets +€89,502
up €89,502 (+260%), from €34,479 to €123,981
of which Furniture and vehicles: +€99,149
- Cash -€7,341
down €7,341 (-52.1%), from €14,089 to €6,749
mainly Receivables within one year (-€178,571) and Investment in fixed assets (net) (-€106,547)
- Trade debts +€126,528
up €126,528 (+118%), from €107,548 to €234,076
- Debts after one year +€73,812
up €73,812 (+438%), from €16,868 to €90,680
- Profit (loss) carried forward +€49,829
up €49,829 (+58.2%), from €85,557 to €135,386
- Current portion of long-term debt +€25,768
up €25,768 (+618%), from €4,169 to €29,937
- Other debts -€19,274
down €19,274 (-83.8%), from €23,000 to €3,726
- Gross operating margin +€40,577
up €40,577 (+76.1%), from €53,296 to €93,874
- Depreciation +€11,237
up €11,237 (+194%), from €5,807 to €17,045
- Taxes +€4,324
up €4,324 (+40.9%), from €10,574 to €14,899
- Financial charges +€3,722
up €3,722 (+67.6%), from €5,507 to €9,229
- Other operating charges +€2,407
up €2,407 (+512%), from €470 to €2,877
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 | €271,196 | €534,242 | +€263,045 | +97.0% |
| Fixed assets | 21/28 | €34,659 | €124,161 | +€89,502 | +258% |
| Tangible fixed assets | 22/27 | €34,479 | €123,981 | +€89,502 | +260% |
| Plant, machinery and equipment | 23 | €10,939 | €5,592 | -€5,347 | -48.9% |
| Furniture and vehicles | 24 | €2,979 | €102,128 | +€99,149 | +3,328% |
| Leasing and similar rights | 25 | €20,560 | €16,260 | -€4,300 | -20.9% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €236,538 | €410,081 | +€173,543 | +73.4% |
| Amounts receivable within one year | 40/41 | €222,448 | €401,019 | +€178,571 | +80.3% |
| Trade receivables | 40 | €222,448 | €401,019 | +€178,571 | +80.3% |
| Cash at bank and in hand | 54/58 | €14,089 | €6,749 | -€7,341 | -52.1% |
| Deferred charges and accrued income | 490/1 | - | €2,313 | +€2,313 | |
| Total equity and liabilities | 10/49 | €271,196 | €534,242 | +€263,045 | +97.0% |
| Equity | 10/15 | €90,557 | €140,386 | +€49,829 | +55.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,557 | €135,386 | +€49,829 | +58.2% |
| Amounts payable | 17/49 | €180,639 | €393,856 | +€213,217 | +118% |
| Amounts payable after more than one year | 17 | €16,868 | €90,680 | +€73,812 | +438% |
| Financial debts | 170/4 | €16,868 | €90,680 | +€73,812 | +438% |
| Amounts payable within one year | 42/48 | €163,772 | €303,176 | +€139,405 | +85.1% |
| Current portion of amounts payable after more than one year | 42 | €4,169 | €29,937 | +€25,768 | +618% |
| Financial debts | 43 | €6,736 | €7,709 | +€973 | +14.4% |
| Credit institutions | 430/8 | €6,736 | €7,709 | +€973 | +14.4% |
| Trade debts | 44 | €107,548 | €234,076 | +€126,528 | +118% |
| Suppliers | 440/4 | €107,548 | €234,076 | +€126,528 | +118% |
| Taxes, remuneration and social security | 45 | €22,318 | €27,728 | +€5,409 | +24.2% |
| Taxes | 450/3 | €22,318 | €20,328 | -€1,991 | -8.9% |
| Remuneration and social security | 454/9 | - | €7,400 | +€7,400 | |
| Other amounts payable | 47/48 | €23,000 | €3,726 | -€19,274 | -83.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,807 | €17,045 | +€11,237 | +194% |
| Other operating charges | 640/8 | €470 | €2,877 | +€2,407 | +512% |
| Gross operating margin | 9900 | €53,296 | €93,874 | +€40,577 | +76.1% |
| Operating profit (loss) | 9901 | €47,019 | €73,952 | +€26,933 | +57.3% |
| Financial income | 75/76B | €2 | €5 | +€2 | +109% |
| Recurring financial income | 75 | €2 | €5 | +€2 | +109% |
| Financial charges | 65/66B | €5,507 | €9,229 | +€3,722 | +67.6% |
| Recurring financial charges | 65 | €5,507 | €9,229 | +€3,722 | +67.6% |
| Profit (loss) for the period before taxes | 9903 | €41,514 | €64,727 | +€23,213 | +55.9% |
| Income taxes | 67/77 | €10,574 | €14,899 | +€4,324 | +40.9% |
| Profit (loss) for the period | 9904 | €30,940 | €49,829 | +€18,889 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,940 | €49,829 | +€18,889 | +61.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.