ARPEJO: 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.
ARPEJO
Largest movements
- Receivables within one year +€16,990
up €16,990 (+9.2%), from €184,413 to €201,403
of which Other amounts receivable: +€13,848
- Reserves +€26,545
up €26,545 (+21.2%), from €125,013 to €151,557
- Trade debts -€5,947
down €5,947 (-48.5%), from €12,257 to €6,310
- Tax, wage and social debts -€3,140
down €3,140 (-8.0%), from €39,458 to €36,318
- Gross operating margin +€10,684
up €10,684 (+42.6%), from €25,056 to €35,741
- Taxes +€4,232
up €4,232 (+54.5%), from €7,760 to €11,992
- Financial charges +€1,726
up €1,726 (+87.2%), from €1,978 to €3,703
- Other operating charges +€759
up €759 (+56.1%), from €1,354 to €2,113
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 | €189,144 | €206,585 | +€17,441 | +9.2% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €189,144 | €206,585 | +€17,441 | +9.2% |
| Stocks and contracts in progress | 3 | €63 | €74 | +€11 | +17.5% |
| Stocks | 30/36 | €63 | €74 | +€11 | +17.5% |
| Amounts receivable within one year | 40/41 | €184,413 | €201,403 | +€16,990 | +9.2% |
| Trade receivables | 40 | €3,186 | €6,328 | +€3,142 | +98.6% |
| Other amounts receivable | 41 | €181,227 | €195,075 | +€13,848 | +7.6% |
| Cash at bank and in hand | 54/58 | €4,593 | €4,496 | -€97 | -2.1% |
| Deferred charges and accrued income | 490/1 | €75 | €612 | +€537 | +720.1% |
| Total equity and liabilities | 10/49 | €189,144 | €206,585 | +€17,441 | +9.2% |
| Equity | 10/15 | €137,413 | €163,957 | +€26,545 | +19.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €125,013 | €151,557 | +€26,545 | +21.2% |
| Distributable reserves | 133 | €125,013 | €151,557 | +€26,545 | +21.2% |
| Amounts payable | 17/49 | €51,731 | €42,628 | -€9,104 | -17.6% |
| Amounts payable within one year | 42/48 | €51,715 | €42,628 | -€9,087 | -17.6% |
| Trade debts | 44 | €12,257 | €6,310 | -€5,947 | -48.5% |
| Suppliers | 440/4 | €12,257 | €6,310 | -€5,947 | -48.5% |
| Taxes, remuneration and social security | 45 | €39,458 | €36,318 | -€3,140 | -8.0% |
| Taxes | 450/3 | €39,458 | €36,318 | -€3,140 | -8.0% |
| Accrued charges and deferred income | 492/3 | €17 | - | -€17 | |
| Non-recurring operating income | 76A | €548 | - | -€548 | |
| Other operating charges | 640/8 | €1,354 | €2,113 | +€759 | +56.1% |
| Gross operating margin | 9900 | €25,056 | €35,741 | +€10,684 | +42.6% |
| Operating profit (loss) | 9901 | €23,702 | €33,628 | +€9,925 | +41.9% |
| Financial income | 75/76B | €8,264 | €8,612 | +€349 | +4.2% |
| Recurring financial income | 75 | €8,264 | €8,612 | +€349 | +4.2% |
| Financial charges | 65/66B | €1,978 | €3,703 | +€1,726 | +87.2% |
| Recurring financial charges | 65 | €1,978 | €3,703 | +€1,726 | +87.2% |
| Profit (loss) for the period before taxes | 9903 | €29,988 | €38,536 | +€8,548 | +28.5% |
| Income taxes | 67/77 | €7,760 | €11,992 | +€4,232 | +54.5% |
| Profit (loss) for the period | 9904 | €22,228 | €26,545 | +€4,317 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,228 | €26,545 | +€4,317 | +19.4% |
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 2 October 2026 via checked.be.