Arovitec: 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.
Arovitec
Largest movements
- Receivables within one year +€43,288
up €43,288 (+113.6%), from €38,118 to €81,406
of which Trade receivables: +€24,671
- Tangible fixed assets +€24,794
up €24,794 (+34.7%), from €71,457 to €96,251
- Stocks and contracts -€13,111
down €13,111 (-87.7%), from €14,956 to €1,845
- Cash -€6,065
down €6,065 (-15.8%), from €38,362 to €32,297
- Financial fixed assets -€2,630
no longer reported in 2025 (was €2,630)
- Reserves +€107,869
up €107,869 (+862.0%), from €12,514 to €120,383
of which Distributable reserves: +€107,869
- Profit (loss) carried forward -€52,785
down €52,785 (-51.5%), from €102,509 to €49,724
- Trade debts -€8,212
down €8,212 (-42.1%), from €19,518 to €11,306
- Current portion of long-term debt -€5,154
no longer reported in 2025 (was €5,154)
- Tax, wage and social debts +€2,624
up €2,624 (+36.3%), from €7,229 to €9,853
of which Taxes: +€7,150
- Gross operating margin +€28,997
up €28,997 (+104.8%), from €27,659 to €56,656
- Depreciation +€11,366
up €11,366 (+196.8%), from €5,775 to €17,141
- Taxes +€4,442
up €4,442 (+82.3%), from €5,400 to €9,842
- Financial income -€2,161
down €2,161 (-89.9%), from €2,403 to €242
of which Non-recurring financial income: -€2,308
- Other operating charges +€1,040
up €1,040 (+1166.2%), from €89 to €1,130
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €165,524 | €212,467 | +€46,943 | +28.4% |
| Fixed assets | 21/28 | €74,087 | €96,251 | +€22,164 | +29.9% |
| Tangible fixed assets | 22/27 | €71,457 | €96,251 | +€24,794 | +34.7% |
| Land and buildings | 22 | €15,797 | €11,679 | -€4,118 | -26.1% |
| Plant, machinery and equipment | 23 | €44,573 | €56,368 | +€11,795 | +26.5% |
| Furniture and vehicles | 24 | €3,290 | €11,111 | +€7,821 | +237.7% |
| Other tangible fixed assets | 26 | €7,798 | €17,092 | +€9,294 | +119.2% |
| Financial fixed assets | 28 | €2,630 | - | -€2,630 | |
| Current assets | 29/58 | €91,436 | €116,216 | +€24,779 | +27.1% |
| Stocks and contracts in progress | 3 | €14,956 | €1,845 | -€13,111 | -87.7% |
| Stocks | 30/36 | €14,956 | €1,845 | -€13,111 | -87.7% |
| Amounts receivable within one year | 40/41 | €38,118 | €81,406 | +€43,288 | +113.6% |
| Trade receivables | 40 | €9,699 | €34,370 | +€24,671 | +254.4% |
| Other amounts receivable | 41 | €28,419 | €47,036 | +€18,617 | +65.5% |
| Cash at bank and in hand | 54/58 | €38,362 | €32,297 | -€6,065 | -15.8% |
| Deferred charges and accrued income | 490/1 | - | €668 | +€668 | |
| Total equity and liabilities | 10/49 | €165,524 | €212,467 | +€46,943 | +28.4% |
| Equity | 10/15 | €133,623 | €188,707 | +€55,084 | +41.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,514 | €120,383 | +€107,869 | +862.0% |
| Tax-exempt reserves | 132 | €10,654 | €10,654 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €109,729 | +€107,869 | +5799.4% |
| Profit (loss) carried forward | 14 | €102,509 | €49,724 | -€52,785 | -51.5% |
| Amounts payable | 17/49 | €31,901 | €23,760 | -€8,141 | -25.5% |
| Amounts payable within one year | 42/48 | €31,901 | €23,760 | -€8,141 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €5,154 | - | -€5,154 | |
| Financial debts | 43 | - | €2,601 | +€2,601 | |
| Other loans | 439 | - | €2,601 | +€2,601 | |
| Trade debts | 44 | €19,518 | €11,306 | -€8,212 | -42.1% |
| Suppliers | 440/4 | €19,518 | €11,306 | -€8,212 | -42.1% |
| Taxes, remuneration and social security | 45 | €7,229 | €9,853 | +€2,624 | +36.3% |
| Taxes | 450/3 | €2,703 | €9,853 | +€7,150 | +264.5% |
| Remuneration and social security | 454/9 | €4,526 | - | -€4,526 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,775 | €17,141 | +€11,366 | +196.8% |
| Other operating charges | 640/8 | €89 | €1,130 | +€1,040 | +1166.2% |
| Non-recurring operating charges | 66A | €395 | - | -€395 | |
| Gross operating margin | 9900 | €27,659 | €56,656 | +€28,997 | +104.8% |
| Operating profit (loss) | 9901 | €21,400 | €38,385 | +€16,985 | +79.4% |
| Financial income | 75/76B | €2,403 | €242 | -€2,161 | -89.9% |
| Recurring financial income | 75 | €94 | €242 | +€148 | +157.1% |
| Non-recurring financial income | 76B | €2,308 | - | -€2,308 | |
| Financial charges | 65/66B | €733 | €1,739 | +€1,006 | +137.2% |
| Recurring financial charges | 65 | €733 | €1,739 | +€1,006 | +137.2% |
| Profit (loss) for the period before taxes | 9903 | €23,069 | €36,888 | +€13,819 | +59.9% |
| Income taxes | 67/77 | €5,400 | €9,842 | +€4,442 | +82.3% |
| Profit (loss) for the period | 9904 | €17,669 | €27,046 | +€9,377 | +53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,669 | €27,046 | +€9,377 | +53.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.