ARPANDIAM: 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.
ARPANDIAM
Largest movements
- Receivables after one year +€300,000
new in 2025: €300,000
- Tangible fixed assets +€108,267
up €108,267 (+3,616%), from €2,994 to €111,262
of which Land and buildings: +€108,774
- Cash -€16,356
down €16,356 (-35.4%), from €46,216 to €29,860
mainly Receivables after one year (-€300,000) and Investment in fixed assets (net) (-€110,906)
- Deferred charges and accrued income -€14,644
down €14,644 (-46.5%), from €31,465 to €16,821
- Reserves +€244,797
up €244,797 (+52.4%), from €466,953 to €711,750
of which Distributable reserves: +€244,797
- Trade debts +€145,741
up €145,741 (+66.1%), from €220,563 to €366,304
- Tax, wage and social debts -€12,004
down €12,004 (-54.6%), from €22,004 to €10,000
- Gross operating margin +€220,421
up €220,421, from -€64,444 to €155,977
- Financial income +€98,646
up €98,646 (+425%), from €23,194 to €121,840
- Other operating charges -€19,790
down €19,790 (-58.1%), from €34,059 to €14,269
- Financial charges -€11,596
down €11,596 (-58.5%), from €19,818 to €8,221
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 | €741,601 | €1,125,553 | +€383,952 | +51.8% |
| Fixed assets | 21/28 | €3,304 | €111,572 | +€108,267 | +3,277% |
| Tangible fixed assets | 22/27 | €2,994 | €111,262 | +€108,267 | +3,616% |
| Land and buildings | 22 | - | €108,774 | +€108,774 | |
| Plant, machinery and equipment | 23 | €2,994 | €2,488 | -€506 | -16.9% |
| Financial fixed assets | 28 | €310 | €310 | = | 0.0% |
| Current assets | 29/58 | €738,297 | €1,013,981 | +€275,685 | +37.3% |
| Amounts receivable after more than one year | 29 | - | €300,000 | +€300,000 | |
| Other amounts receivable | 291 | - | €300,000 | +€300,000 | |
| Stocks and contracts in progress | 3 | €57,400 | €60,727 | +€3,327 | +5.8% |
| Stocks | 30/36 | €57,400 | €60,727 | +€3,327 | +5.8% |
| Amounts receivable within one year | 40/41 | €603,216 | €606,573 | +€3,357 | +0.6% |
| Trade receivables | 40 | €128,421 | €332,840 | +€204,419 | +159% |
| Other amounts receivable | 41 | €474,795 | €273,733 | -€201,062 | -42.3% |
| Cash at bank and in hand | 54/58 | €46,216 | €29,860 | -€16,356 | -35.4% |
| Deferred charges and accrued income | 490/1 | €31,465 | €16,821 | -€14,644 | -46.5% |
| Total equity and liabilities | 10/49 | €741,601 | €1,125,553 | +€383,952 | +51.8% |
| Equity | 10/15 | €485,553 | €730,350 | +€244,797 | +50.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €466,953 | €711,750 | +€244,797 | +52.4% |
| Non-distributable reserves | 130/1 | €4,404 | €4,404 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,404 | €4,404 | = | 0.0% |
| Distributable reserves | 133 | €462,549 | €707,346 | +€244,797 | +52.9% |
| Amounts payable | 17/49 | €256,048 | €395,203 | +€139,155 | +54.3% |
| Amounts payable within one year | 42/48 | €256,048 | €395,203 | +€139,155 | +54.3% |
| Trade debts | 44 | €220,563 | €366,304 | +€145,741 | +66.1% |
| Suppliers | 440/4 | €220,563 | €366,304 | +€145,741 | +66.1% |
| Advances received on contracts in progress | 46 | €13,481 | €18,899 | +€5,417 | +40.2% |
| Taxes, remuneration and social security | 45 | €22,004 | €10,000 | -€12,004 | -54.6% |
| Taxes | 450/3 | €22,004 | €10,000 | -€12,004 | -54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,195 | €2,639 | +€1,444 | +121% |
| Other operating charges | 640/8 | €34,059 | €14,269 | -€19,790 | -58.1% |
| Gross operating margin | 9900 | -€64,444 | €155,977 | +€220,421 | |
| Operating profit (loss) | 9901 | -€99,698 | €139,068 | +€238,766 | |
| Financial income | 75/76B | €23,194 | €121,840 | +€98,646 | +425% |
| Recurring financial income | 75 | €23,194 | €121,840 | +€98,646 | +425% |
| Financial charges | 65/66B | €19,818 | €8,221 | -€11,596 | -58.5% |
| Recurring financial charges | 65 | €19,818 | €8,221 | -€11,596 | -58.5% |
| Profit (loss) for the period before taxes | 9903 | -€96,322 | €252,687 | +€349,009 | |
| Income taxes | 67/77 | €8,686 | €7,890 | -€796 | -9.2% |
| Profit (loss) for the period | 9904 | -€105,008 | €244,797 | +€349,805 | |
| Profit (loss) for the period to be appropriated | 9905 | -€105,008 | €244,797 | +€349,805 |
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 31 October 2026 via checked.be.