ARPEX: 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.
ARPEX
Largest movements
- Receivables within one year +€18,115
up €18,115 (+47.4%), from €38,230 to €56,345
of which Trade receivables: +€13,544
- Cash +€2,015
up €2,015 (+24.5%), from €8,229 to €10,244
mainly Trade debts (+€17,466) and Other debts (+€12,227)
- Trade debts +€17,466
up €17,466 (+396.3%), from €4,407 to €21,873
- Other debts +€12,227
up €12,227 (+135.2%), from €9,044 to €21,271
- Advances received -€9,321
no longer reported in 2025 (was €9,321)
- Gross operating margin -€787
down €787 (-32.5%), from €2,426 to €1,639
- Financial charges -€582
down €582 (-78.5%), from €742 to €160
- Taxes +€379
up €379 (+187.7%), from €202 to €580
- Other operating charges +€132
up €132 (+34.2%), from €387 to €520
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 | €46,460 | €66,589 | +€20,130 | +43.3% |
| Current assets | 29/58 | €46,460 | €66,589 | +€20,130 | +43.3% |
| Amounts receivable within one year | 40/41 | €38,230 | €56,345 | +€18,115 | +47.4% |
| Trade receivables | 40 | €26,200 | €39,744 | +€13,544 | +51.7% |
| Other amounts receivable | 41 | €12,030 | €16,601 | +€4,571 | +38.0% |
| Cash at bank and in hand | 54/58 | €8,229 | €10,244 | +€2,015 | +24.5% |
| Total equity and liabilities | 10/49 | €46,460 | €66,589 | +€20,130 | +43.3% |
| Equity | 10/15 | €21,486 | €21,865 | +€379 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,801 | €7,801 | = | 0.0% |
| Distributable reserves | 133 | €7,801 | €7,801 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,915 | -€4,536 | +€379 | +7.7% |
| Amounts payable | 17/49 | €24,974 | €44,724 | +€19,751 | +79.1% |
| Amounts payable within one year | 42/48 | €24,974 | €44,724 | +€19,751 | +79.1% |
| Trade debts | 44 | €4,407 | €21,873 | +€17,466 | +396.3% |
| Suppliers | 440/4 | €4,407 | €21,873 | +€17,466 | +396.3% |
| Advances received on contracts in progress | 46 | €9,321 | - | -€9,321 | |
| Taxes, remuneration and social security | 45 | €2,202 | €1,580 | -€621 | -28.2% |
| Taxes | 450/3 | €202 | €580 | +€379 | +187.7% |
| Remuneration and social security | 454/9 | €2,000 | €1,000 | -€1,000 | -50.0% |
| Other amounts payable | 47/48 | €9,044 | €21,271 | +€12,227 | +135.2% |
| Other operating charges | 640/8 | €387 | €520 | +€132 | +34.2% |
| Non-recurring operating charges | 66A | €1,897 | - | -€1,897 | |
| Gross operating margin | 9900 | €2,426 | €1,639 | -€787 | -32.5% |
| Operating profit (loss) | 9901 | €142 | €1,119 | +€977 | +688.7% |
| Financial charges | 65/66B | €742 | €160 | -€582 | -78.5% |
| Recurring financial charges | 65 | €742 | €160 | -€582 | -78.5% |
| Profit (loss) for the period before taxes | 9903 | -€600 | €959 | +€1,559 | |
| Income taxes | 67/77 | €202 | €580 | +€379 | +187.7% |
| Profit (loss) for the period | 9904 | -€802 | €379 | +€1,181 | |
| Profit (loss) for the period to be appropriated | 9905 | -€802 | €379 | +€1,181 |
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 29 September 2026 via checked.be.