ARPA: 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.
ARPA
Largest movements
- Cash +€55,937
up €55,937 (+150.1%), from €37,258 to €93,195
mainly Net result for the year (+€35,408) and Current investments (+€16,519)
- Current investments -€16,519
down €16,519 (-8.2%), from €200,503 to €183,984
- Reserves +€35,408
up €35,408 (+13.3%), from €265,608 to €301,016
- Financial income +€11,731
up €11,731 (+71.9%), from €16,310 to €28,041
- Staff costs -€7,200
no longer reported in 2025 (was €7,200)
- Taxes +€6,725
up €6,725 (+150.7%), from €4,462 to €11,187
- Gross operating margin -€2,491
down €2,491 (-10.6%), from €23,437 to €20,946
- Depreciation -€1,232
down €1,232 (-39.3%), from €3,133 to €1,901
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 | €272,462 | €310,543 | +€38,081 | +14.0% |
| Fixed assets | 21/28 | €12,519 | €11,727 | -€792 | -6.3% |
| Tangible fixed assets | 22/27 | €12,519 | €11,727 | -€792 | -6.3% |
| Land and buildings | 22 | €8,700 | €8,700 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,819 | €3,027 | -€792 | -20.7% |
| Current assets | 29/58 | €259,943 | €298,816 | +€38,873 | +15.0% |
| Stocks and contracts in progress | 3 | €11,473 | €9,769 | -€1,704 | -14.9% |
| Stocks | 30/36 | €11,473 | €9,769 | -€1,704 | -14.9% |
| Amounts receivable within one year | 40/41 | €8,644 | €9,875 | +€1,231 | +14.2% |
| Trade receivables | 40 | €8,644 | €9,875 | +€1,231 | +14.2% |
| Current investments | 50/53 | €200,503 | €183,984 | -€16,519 | -8.2% |
| Cash at bank and in hand | 54/58 | €37,258 | €93,195 | +€55,937 | +150.1% |
| Deferred charges and accrued income | 490/1 | €2,065 | €1,993 | -€72 | -3.5% |
| Total equity and liabilities | 10/49 | €272,462 | €310,543 | +€38,081 | +14.0% |
| Equity | 10/15 | €269,565 | €304,973 | +€35,408 | +13.1% |
| Contributions | 10/11 | €3,957 | €3,957 | = | 0.0% |
| Reserves | 13 | €265,608 | €301,016 | +€35,408 | +13.3% |
| Distributable reserves | 133 | €265,608 | €301,016 | +€35,408 | +13.3% |
| Amounts payable | 17/49 | €2,897 | €5,570 | +€2,673 | +92.3% |
| Amounts payable within one year | 42/48 | €2,897 | €5,570 | +€2,673 | +92.3% |
| Trade debts | 44 | €596 | €469 | -€127 | -21.3% |
| Suppliers | 440/4 | €596 | €469 | -€127 | -21.3% |
| Taxes, remuneration and social security | 45 | €1,511 | €4,340 | +€2,829 | +187.2% |
| Taxes | 450/3 | €1,511 | €4,340 | +€2,829 | +187.2% |
| Other amounts payable | 47/48 | €790 | €761 | -€29 | -3.7% |
| Remuneration, social security and pensions | 62 | €7,200 | - | -€7,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,133 | €1,901 | -€1,232 | -39.3% |
| Gross operating margin | 9900 | €23,437 | €20,946 | -€2,491 | -10.6% |
| Operating profit (loss) | 9901 | €13,104 | €19,045 | +€5,941 | +45.3% |
| Financial income | 75/76B | €16,310 | €28,041 | +€11,731 | +71.9% |
| Recurring financial income | 75 | €16,310 | €28,041 | +€11,731 | +71.9% |
| Financial charges | 65/66B | €77 | €491 | +€414 | +537.7% |
| Recurring financial charges | 65 | €77 | €491 | +€414 | +537.7% |
| Profit (loss) for the period before taxes | 9903 | €29,337 | €46,595 | +€17,258 | +58.8% |
| Income taxes | 67/77 | €4,462 | €11,187 | +€6,725 | +150.7% |
| Profit (loss) for the period | 9904 | €24,875 | €35,408 | +€10,533 | +42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,875 | €35,408 | +€10,533 | +42.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.