ARPG Management: 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.
ARPG Management
Largest movements
- Financial fixed assets -€948,240
down €948,240 (-40.3%), from €2.4m to €1.4m
- Debts after one year -€1.3m
down €1.3m (-82.0%), from €1.5m to €277,428
- Other debts +€329,140
up €329,140 (+2,358%), from €13,960 to €343,100
- Gross operating margin -€140,147
down €140,147, from €138,531 to -€1,616
- Staff costs -€60,824
no longer reported in 2025 (was €60,824)
- Taxes -€13,890
down €13,890 (-97.8%), from €14,200 to €311
- Financial charges -€9,007
down €9,007 (-35.1%), from €25,657 to €16,650
- Other operating charges -€3,913
down €3,913 (-79.7%), from €4,911 to €998
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 | €2,411,097 | €1,462,380 | -€948,717 | -39.3% |
| Fixed assets | 21/28 | €2,354,642 | €1,406,402 | -€948,240 | -40.3% |
| Financial fixed assets | 28 | €2,354,642 | €1,406,402 | -€948,240 | -40.3% |
| Current assets | 29/58 | €56,455 | €55,978 | -€477 | -0.8% |
| Amounts receivable within one year | 40/41 | €54,993 | €55,781 | +€788 | +1.4% |
| Trade receivables | 40 | €2,750 | €2,750 | = | 0.0% |
| Other amounts receivable | 41 | €52,243 | €53,031 | +€788 | +1.5% |
| Cash at bank and in hand | 54/58 | €1,462 | €197 | -€1,265 | -86.5% |
| Total equity and liabilities | 10/49 | €2,411,097 | €1,462,380 | -€948,717 | -39.3% |
| Equity | 10/15 | €263,414 | €244,838 | -€18,575 | -7.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €244,814 | €226,238 | -€18,575 | -7.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €242,954 | €224,378 | -€18,575 | -7.6% |
| Amounts payable | 17/49 | €2,147,684 | €1,217,542 | -€930,142 | -43.3% |
| Amounts payable after more than one year | 17 | €1,537,962 | €277,428 | -€1.3m | -82.0% |
| Financial debts | 170/4 | €1,537,962 | €277,428 | -€1.3m | -82.0% |
| Amounts payable within one year | 42/48 | €609,598 | €940,045 | +€330,448 | +54.2% |
| Current portion of amounts payable after more than one year | 42 | €159,864 | €162,294 | +€2,430 | +1.5% |
| Financial debts | 43 | €250,000 | €250,124 | +€124 | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,124 | +€124 | 0.0% |
| Trade debts | 44 | €170,619 | €169,592 | -€1,027 | -0.6% |
| Suppliers | 440/4 | €170,619 | €169,592 | -€1,027 | -0.6% |
| Taxes, remuneration and social security | 45 | €15,154 | €14,936 | -€219 | -1.4% |
| Taxes | 450/3 | €15,154 | €14,936 | -€219 | -1.4% |
| Other amounts payable | 47/48 | €13,960 | €343,100 | +€329,140 | +2,358% |
| Accrued charges and deferred income | 492/3 | €124 | €69 | -€55 | -44.6% |
| Remuneration, social security and pensions | 62 | €60,824 | - | -€60,824 | |
| Other operating charges | 640/8 | €4,911 | €998 | -€3,913 | -79.7% |
| Gross operating margin | 9900 | €138,531 | -€1,616 | -€140,147 | |
| Operating profit (loss) | 9901 | €72,796 | -€2,614 | -€75,410 | |
| Financial income | 75/76B | €4,540 | €1,000 | -€3,540 | -78.0% |
| Recurring financial income | 75 | €4,540 | €1,000 | -€3,540 | -78.0% |
| Financial charges | 65/66B | €25,657 | €16,650 | -€9,007 | -35.1% |
| Recurring financial charges | 65 | €25,657 | €16,650 | -€9,007 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €51,679 | -€18,265 | -€69,943 | |
| Income taxes | 67/77 | €14,200 | €311 | -€13,890 | -97.8% |
| Profit (loss) for the period | 9904 | €37,478 | -€18,575 | -€56,054 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,478 | -€18,575 | -€56,054 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.