ARPEEFISC: 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.
ARPEEFISC
Largest movements
- Receivables within one year -€9,569
down €9,569 (-21.8%), from €43,966 to €34,397
of which Trade receivables: -€7,080
- Cash +€2,703
up €2,703 (+13.7%), from €19,780 to €22,483
mainly Depreciation (+€16,422) and Receivables within one year (+€9,569)
- Tangible fixed assets -€1,390
down €1,390 (-3.7%), from €37,505 to €36,116
of which Furniture and vehicles: -€2,606
- Deferred charges and accrued income +€1,160
up €1,160 (+51.1%), from €2,269 to €3,428
- Other debts -€7,715
down €7,715 (-14.3%), from €54,087 to €46,373
- Debts after one year -€6,240
down €6,240 (-63.2%), from €9,880 to €3,640
- Tax, wage and social debts +€6,137
up €6,137 (+69.6%), from €8,816 to €14,953
- Reserves +€1,570
up €1,570 (+9.2%), from €17,000 to €18,570
- Gross operating margin -€30,250
down €30,250 (-55.8%), from €54,240 to €23,990
- Taxes -€4,542
down €4,542 (-73.1%), from €6,212 to €1,670
- Depreciation +€2,231
up €2,231 (+15.7%), from €14,191 to €16,422
- Other operating charges +€1,752
up €1,752 (+84.3%), from €2,079 to €3,831
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 | €103,572 | €96,424 | -€7,148 | -6.9% |
| Fixed assets | 21/28 | €37,557 | €36,116 | -€1,442 | -3.8% |
| Tangible fixed assets | 22/27 | €37,505 | €36,116 | -€1,390 | -3.7% |
| Plant, machinery and equipment | 23 | €3,455 | €3,181 | -€274 | -7.9% |
| Furniture and vehicles | 24 | €25,300 | €22,694 | -€2,606 | -10.3% |
| Other tangible fixed assets | 26 | €8,750 | €10,240 | +€1,490 | +17.0% |
| Financial fixed assets | 28 | €52 | €0 | -€52 | -100.0% |
| Current assets | 29/58 | €66,015 | €60,308 | -€5,706 | -8.6% |
| Amounts receivable within one year | 40/41 | €43,966 | €34,397 | -€9,569 | -21.8% |
| Trade receivables | 40 | €41,478 | €34,397 | -€7,080 | -17.1% |
| Other amounts receivable | 41 | €2,488 | €0 | -€2,488 | -100.0% |
| Cash at bank and in hand | 54/58 | €19,780 | €22,483 | +€2,703 | +13.7% |
| Deferred charges and accrued income | 490/1 | €2,269 | €3,428 | +€1,160 | +51.1% |
| Total equity and liabilities | 10/49 | €103,572 | €96,424 | -€7,148 | -6.9% |
| Equity | 10/15 | €22,685 | €24,257 | +€1,572 | +6.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €17,000 | €18,570 | +€1,570 | +9.2% |
| Distributable reserves | 133 | €17,000 | €18,570 | +€1,570 | +9.2% |
| Profit (loss) carried forward | 14 | €685 | €687 | +€2 | +0.3% |
| Amounts payable | 17/49 | €80,887 | €72,167 | -€8,720 | -10.8% |
| Amounts payable after more than one year | 17 | €9,880 | €3,640 | -€6,240 | -63.2% |
| Other amounts payable | 178/9 | €9,880 | €3,640 | -€6,240 | -63.2% |
| Amounts payable within one year | 42/48 | €71,007 | €68,527 | -€2,480 | -3.5% |
| Financial debts | 43 | €6,240 | €6,240 | = | 0.0% |
| Other loans | 439 | €6,240 | €6,240 | = | 0.0% |
| Trade debts | 44 | €1,864 | €961 | -€902 | -48.4% |
| Suppliers | 440/4 | €1,864 | €961 | -€902 | -48.4% |
| Taxes, remuneration and social security | 45 | €8,816 | €14,953 | +€6,137 | +69.6% |
| Taxes | 450/3 | €8,816 | €14,953 | +€6,137 | +69.6% |
| Other amounts payable | 47/48 | €54,087 | €46,373 | -€7,715 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,191 | €16,422 | +€2,231 | +15.7% |
| Other operating charges | 640/8 | €2,079 | €3,831 | +€1,752 | +84.3% |
| Non-recurring operating charges | 66A | €18,480 | €0 | -€18,480 | -100.0% |
| Gross operating margin | 9900 | €54,240 | €23,990 | -€30,250 | -55.8% |
| Operating profit (loss) | 9901 | €19,490 | €3,738 | -€15,752 | -80.8% |
| Financial income | 75/76B | - | €33 | +€33 | |
| Recurring financial income | 75 | - | €33 | +€33 | |
| Financial charges | 65/66B | €873 | €529 | -€344 | -39.5% |
| Recurring financial charges | 65 | €873 | €529 | -€344 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | €18,617 | €3,242 | -€15,374 | -82.6% |
| Income taxes | 67/77 | €6,212 | €1,670 | -€4,542 | -73.1% |
| Profit (loss) for the period | 9904 | €12,405 | €1,572 | -€10,833 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,405 | €1,572 | -€10,833 | -87.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.