Arova: 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.
Arova
Largest movements
- Cash +€39,913
up €39,913 (+63.3%), from €63,020 to €102,933
mainly Net result for the year (+€50,142) and Depreciation (+€13,003)
- Receivables within one year +€17,635
up €17,635 (+1,962%), from €899 to €18,534
of which Trade receivables: +€14,178
- Intangible fixed assets -€10,000
down €10,000 (-26.7%), from €37,459 to €27,459
- Tangible fixed assets +€6,483
up €6,483 (+92.5%), from €7,007 to €13,491
- Profit (loss) carried forward +€50,142
up €50,142 (+94.6%), from €53,014 to €103,156
- Trade debts +€9,688
up €9,688 (+281%), from €3,446 to €13,134
- Debts after one year -€8,993
down €8,993 (-48.8%), from €18,435 to €9,443
- Tax, wage and social debts +€4,414
up €4,414 (+81.0%), from €5,448 to €9,862
of which Taxes: +€2,626
- Other debts -€1,851
down €1,851 (-6.4%), from €28,759 to €26,908
- Staff costs +€3,918
up €3,918 (+28.7%), from €13,635 to €17,553
- Gross operating margin -€1,926
down €1,926 (-1.9%), from €103,762 to €101,836
- Depreciation -€1,700
down €1,700 (-11.6%), from €14,702 to €13,003
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 | €119,667 | €173,496 | +€53,828 | +45.0% |
| Formation expenses | 20 | €852 | €352 | -€500 | -58.7% |
| Fixed assets | 21/28 | €48,066 | €44,550 | -€3,517 | -7.3% |
| Intangible fixed assets | 21 | €37,459 | €27,459 | -€10,000 | -26.7% |
| Tangible fixed assets | 22/27 | €7,007 | €13,491 | +€6,483 | +92.5% |
| Plant, machinery and equipment | 23 | €4,000 | €7,064 | +€3,064 | +76.6% |
| Furniture and vehicles | 24 | €3,007 | €4,527 | +€1,520 | +50.5% |
| Other tangible fixed assets | 26 | - | €1,900 | +€1,900 | |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €70,749 | €128,594 | +€57,845 | +81.8% |
| Stocks and contracts in progress | 3 | €6,830 | €7,127 | +€297 | +4.4% |
| Stocks | 30/36 | €6,830 | €7,127 | +€297 | +4.4% |
| Amounts receivable within one year | 40/41 | €899 | €18,534 | +€17,635 | +1,962% |
| Trade receivables | 40 | - | €14,178 | +€14,178 | |
| Other amounts receivable | 41 | €899 | €4,356 | +€3,457 | +385% |
| Cash at bank and in hand | 54/58 | €63,020 | €102,933 | +€39,913 | +63.3% |
| Total equity and liabilities | 10/49 | €119,667 | €173,496 | +€53,828 | +45.0% |
| Equity | 10/15 | €55,014 | €105,156 | +€50,142 | +91.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,014 | €103,156 | +€50,142 | +94.6% |
| Amounts payable | 17/49 | €64,653 | €68,339 | +€3,686 | +5.7% |
| Amounts payable after more than one year | 17 | €18,435 | €9,443 | -€8,993 | -48.8% |
| Financial debts | 170/4 | €18,435 | €9,443 | -€8,993 | -48.8% |
| Amounts payable within one year | 42/48 | €46,218 | €58,897 | +€12,679 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €8,565 | €8,993 | +€428 | +5.0% |
| Trade debts | 44 | €3,446 | €13,134 | +€9,688 | +281% |
| Suppliers | 440/4 | €3,446 | €13,134 | +€9,688 | +281% |
| Taxes, remuneration and social security | 45 | €5,448 | €9,862 | +€4,414 | +81.0% |
| Taxes | 450/3 | €511 | €3,138 | +€2,626 | +514% |
| Remuneration and social security | 454/9 | €4,937 | €6,724 | +€1,787 | +36.2% |
| Other amounts payable | 47/48 | €28,759 | €26,908 | -€1,851 | -6.4% |
| Remuneration, social security and pensions | 62 | €13,635 | €17,553 | +€3,918 | +28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,702 | €13,003 | -€1,700 | -11.6% |
| Other operating charges | 640/8 | €1,295 | €370 | -€925 | -71.4% |
| Gross operating margin | 9900 | €103,762 | €101,836 | -€1,926 | -1.9% |
| Operating profit (loss) | 9901 | €74,130 | €70,911 | -€3,219 | -4.3% |
| Financial income | 75/76B | - | €176 | +€176 | |
| Recurring financial income | 75 | - | €176 | +€176 | |
| Financial charges | 65/66B | €7,014 | €6,479 | -€536 | -7.6% |
| Recurring financial charges | 65 | €7,014 | €6,479 | -€536 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €67,116 | €64,608 | -€2,508 | -3.7% |
| Income taxes | 67/77 | €14,101 | €14,466 | +€365 | +2.6% |
| Profit (loss) for the period | 9904 | €53,014 | €50,142 | -€2,872 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,014 | €50,142 | -€2,872 | -5.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.