ARPEJIS: 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.
ARPEJIS
Largest movements
- Cash +€11,107
up €11,107 (+11.8%), from €94,500 to €105,607
mainly Net result for the year (+€28,774) and Debts after one year (+€5,101)
- Tangible fixed assets +€8,430
up €8,430 (+116%), from €7,295 to €15,725
of which Furniture and vehicles: +€10,475
- Receivables within one year +€5,281
up €5,281 (+42.8%), from €12,351 to €17,632
of which Other amounts receivable: +€5,521
- Reserves +€28,774
up €28,774 (+74.0%), from €38,906 to €67,680
- Other debts -€14,416
down €14,416 (-51.6%), from €27,916 to €13,500
- Debts after one year +€5,101
new in 2025: €5,101
- Current portion of long-term debt +€4,899
new in 2025: €4,899
- Trade debts +€1,890
up €1,890 (+19.6%), from €9,658 to €11,548
- Gross operating margin +€20,517
up €20,517 (+76.0%), from €26,989 to €47,506
- Taxes +€6,443
up €6,443 (+112%), from €5,748 to €12,192
- Other operating charges -€1,804
no longer reported in 2025 (was €1,804)
- Financial charges +€716
up €716 (+26.5%), from €2,701 to €3,417
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 | €114,636 | €140,372 | +€25,736 | +22.5% |
| Fixed assets | 21/28 | €7,320 | €15,750 | +€8,430 | +115% |
| Tangible fixed assets | 22/27 | €7,295 | €15,725 | +€8,430 | +116% |
| Furniture and vehicles | 24 | €1,507 | €11,982 | +€10,475 | +695% |
| Other tangible fixed assets | 26 | €5,788 | €3,743 | -€2,045 | -35.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €107,315 | €124,621 | +€17,306 | +16.1% |
| Amounts receivable within one year | 40/41 | €12,351 | €17,632 | +€5,281 | +42.8% |
| Trade receivables | 40 | €11,789 | €11,550 | -€240 | -2.0% |
| Other amounts receivable | 41 | €562 | €6,082 | +€5,521 | +983% |
| Current investments | 50/53 | €27 | €26 | -€0 | -1.8% |
| Cash at bank and in hand | 54/58 | €94,500 | €105,607 | +€11,107 | +11.8% |
| Deferred charges and accrued income | 490/1 | €437 | €1,356 | +€919 | +210% |
| Total equity and liabilities | 10/49 | €114,636 | €140,372 | +€25,736 | +22.5% |
| Equity | 10/15 | €63,906 | €92,680 | +€28,774 | +45.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €38,906 | €67,680 | +€28,774 | +74.0% |
| Distributable reserves | 133 | €38,906 | €67,680 | +€28,774 | +74.0% |
| Amounts payable | 17/49 | €50,729 | €47,692 | -€3,038 | -6.0% |
| Amounts payable after more than one year | 17 | - | €5,101 | +€5,101 | |
| Financial debts | 170/4 | - | €5,101 | +€5,101 | |
| Amounts payable within one year | 42/48 | €49,678 | €42,591 | -€7,087 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | - | €4,899 | +€4,899 | |
| Trade debts | 44 | €9,658 | €11,548 | +€1,890 | +19.6% |
| Suppliers | 440/4 | €9,658 | €11,548 | +€1,890 | +19.6% |
| Taxes, remuneration and social security | 45 | €12,104 | €12,644 | +€540 | +4.5% |
| Taxes | 450/3 | €7,579 | €12,644 | +€5,065 | +66.8% |
| Remuneration and social security | 454/9 | €4,525 | - | -€4,525 | |
| Other amounts payable | 47/48 | €27,916 | €13,500 | -€14,416 | -51.6% |
| Accrued charges and deferred income | 492/3 | €1,051 | - | -€1,051 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,571 | €3,528 | -€43 | -1.2% |
| Other operating charges | 640/8 | €1,804 | - | -€1,804 | |
| Gross operating margin | 9900 | €26,989 | €47,506 | +€20,517 | +76.0% |
| Operating profit (loss) | 9901 | €21,615 | €43,978 | +€22,363 | +103% |
| Financial income | 75/76B | €0 | €404 | +€404 | +4,036,900% |
| Recurring financial income | 75 | €0 | €404 | +€404 | +4,036,900% |
| Financial charges | 65/66B | €2,701 | €3,417 | +€716 | +26.5% |
| Recurring financial charges | 65 | €2,701 | €3,417 | +€716 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €18,914 | €40,965 | +€22,051 | +117% |
| Income taxes | 67/77 | €5,748 | €12,192 | +€6,443 | +112% |
| Profit (loss) for the period | 9904 | €13,166 | €28,774 | +€15,608 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €13,166 | €28,774 | +€15,608 | +119% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.