ARPÉGO: 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.
ARPÉGO
Largest movements
- Receivables within one year -€38,616
down €38,616 (-31.5%), from €122,410 to €83,794
of which Trade receivables: -€31,554
- Cash +€12,447
up €12,447 (+24.6%), from €50,585 to €63,032
mainly Net result for the year (+€59,219) and Receivables within one year (+€38,616)
- Tax, wage and social debts -€15,848
down €15,848 (-57.1%), from €27,740 to €11,892
- Profit (loss) carried forward -€5,781
down €5,781 (-3.4%), from €170,061 to €164,280
- Gross operating margin -€51,250
down €51,250 (-36.1%), from €141,799 to €90,548
- Taxes -€5,447
down €5,447 (-19.1%), from €28,498 to €23,051
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 | €393,531 | €370,490 | -€23,041 | -5.9% |
| Fixed assets | 21/28 | €220,536 | €223,664 | +€3,128 | +1.4% |
| Tangible fixed assets | 22/27 | €220,486 | €223,614 | +€3,128 | +1.4% |
| Land and buildings | 22 | €191,820 | €192,948 | +€1,128 | +0.6% |
| Plant, machinery and equipment | 23 | €15,186 | €15,685 | +€499 | +3.3% |
| Furniture and vehicles | 24 | €1,280 | €522 | -€758 | -59.2% |
| Other tangible fixed assets | 26 | €12,200 | €14,459 | +€2,259 | +18.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €172,996 | €146,826 | -€26,169 | -15.1% |
| Amounts receivable within one year | 40/41 | €122,410 | €83,794 | -€38,616 | -31.5% |
| Trade receivables | 40 | €112,890 | €81,336 | -€31,554 | -28.0% |
| Other amounts receivable | 41 | €9,520 | €2,459 | -€7,061 | -74.2% |
| Cash at bank and in hand | 54/58 | €50,585 | €63,032 | +€12,447 | +24.6% |
| Total equity and liabilities | 10/49 | €393,531 | €370,490 | -€23,041 | -5.9% |
| Equity | 10/15 | €237,121 | €231,340 | -€5,781 | -2.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €48,510 | €48,510 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €46,655 | €46,655 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,061 | €164,280 | -€5,781 | -3.4% |
| Amounts payable | 17/49 | €156,411 | €139,150 | -€17,260 | -11.0% |
| Amounts payable after more than one year | 17 | €120,000 | €120,000 | = | 0.0% |
| Financial debts | 170/4 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,411 | €19,150 | -€17,260 | -47.4% |
| Trade debts | 44 | €8,542 | €6,377 | -€2,165 | -25.3% |
| Suppliers | 440/4 | €8,542 | €6,377 | -€2,165 | -25.3% |
| Taxes, remuneration and social security | 45 | €27,740 | €11,892 | -€15,848 | -57.1% |
| Taxes | 450/3 | €27,740 | €11,892 | -€15,848 | -57.1% |
| Other amounts payable | 47/48 | €128 | €881 | +€753 | +588.1% |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,352 | €3,139 | -€212 | -6.3% |
| Other operating charges | 640/8 | €1,937 | €1,010 | -€928 | -47.9% |
| Gross operating margin | 9900 | €141,799 | €90,548 | -€51,250 | -36.1% |
| Operating profit (loss) | 9901 | €136,510 | €86,399 | -€50,110 | -36.7% |
| Financial charges | 65/66B | €4,281 | €4,129 | -€152 | -3.6% |
| Recurring financial charges | 65 | €4,281 | €4,129 | -€152 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €132,228 | €82,270 | -€49,958 | -37.8% |
| Income taxes | 67/77 | €28,498 | €23,051 | -€5,447 | -19.1% |
| Profit (loss) for the period | 9904 | €103,730 | €59,219 | -€44,511 | -42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €103,730 | €59,219 | -€44,511 | -42.9% |
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 5 October 2026 via checked.be.