ARPIC GEMS: 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.
ARPIC GEMS
Largest movements
- Cash -€484,808
down €484,808 (-60.8%), from €797,075 to €312,267
mainly Receivables after one year (-€425,532) and Other debts (-€111,211)
- Receivables after one year +€425,532
new in 2025: €425,532
- Receivables within one year -€180,415
down €180,415 (-27.9%), from €645,701 to €465,286
of which Trade receivables: -€178,662
- Stocks and contracts +€46,496
up €46,496 (+19.6%), from €236,866 to €283,362
- Other debts -€111,211
down €111,211 (-36.2%), from €306,823 to €195,612
- Trade debts -€65,323
down €65,323 (-54.6%), from €119,613 to €54,291
- Profit (loss) carried forward -€21,608
new in 2025: -€21,608
- Gross operating margin -€168,578
down €168,578, from €161,941 to -€6,636
- Financial income +€9,707
up €9,707 (+437.5%), from €2,219 to €11,925
- Taxes -€8,430
down €8,430 (-44.2%), from €19,072 to €10,641
- Financial charges -€3,143
down €3,143 (-38.6%), from €8,144 to €5,001
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 | €1,727,651 | €1,528,285 | -€199,366 | -11.5% |
| Fixed assets | 21/28 | €46,936 | €39,602 | -€7,333 | -15.6% |
| Tangible fixed assets | 22/27 | €46,564 | €39,230 | -€7,333 | -15.7% |
| Land and buildings | 22 | €36,713 | €33,225 | -€3,488 | -9.5% |
| Furniture and vehicles | 24 | €9,851 | €6,006 | -€3,846 | -39.0% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €1,680,715 | €1,488,683 | -€192,032 | -11.4% |
| Amounts receivable after more than one year | 29 | - | €425,532 | +€425,532 | |
| Other amounts receivable | 291 | - | €425,532 | +€425,532 | |
| Stocks and contracts in progress | 3 | €236,866 | €283,362 | +€46,496 | +19.6% |
| Stocks | 30/36 | €236,866 | €283,362 | +€46,496 | +19.6% |
| Amounts receivable within one year | 40/41 | €645,701 | €465,286 | -€180,415 | -27.9% |
| Trade receivables | 40 | €640,152 | €461,491 | -€178,662 | -27.9% |
| Other amounts receivable | 41 | €5,549 | €3,796 | -€1,753 | -31.6% |
| Cash at bank and in hand | 54/58 | €797,075 | €312,267 | -€484,808 | -60.8% |
| Deferred charges and accrued income | 490/1 | €1,073 | €2,236 | +€1,164 | +108.5% |
| Total equity and liabilities | 10/49 | €1,727,651 | €1,528,285 | -€199,366 | -11.5% |
| Equity | 10/15 | €1,220,759 | €1,199,151 | -€21,608 | -1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,202,159 | €1,202,159 | = | 0.0% |
| Distributable reserves | 133 | €1,202,159 | €1,202,159 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€21,608 | -€21,608 | |
| Amounts payable | 17/49 | €506,892 | €329,134 | -€177,757 | -35.1% |
| Amounts payable within one year | 42/48 | €506,892 | €329,134 | -€177,757 | -35.1% |
| Trade debts | 44 | €119,613 | €54,291 | -€65,323 | -54.6% |
| Suppliers | 440/4 | €119,613 | €54,291 | -€65,323 | -54.6% |
| Taxes, remuneration and social security | 45 | €80,455 | €79,232 | -€1,223 | -1.5% |
| Taxes | 450/3 | €24,181 | €21,418 | -€2,764 | -11.4% |
| Remuneration and social security | 454/9 | €56,274 | €57,814 | +€1,540 | +2.7% |
| Other amounts payable | 47/48 | €306,823 | €195,612 | -€111,211 | -36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,333 | €7,333 | = | 0.0% |
| Other operating charges | 640/8 | €3,070 | €3,922 | +€852 | +27.7% |
| Gross operating margin | 9900 | €161,941 | -€6,636 | -€168,578 | |
| Operating profit (loss) | 9901 | €151,538 | -€17,891 | -€169,429 | |
| Financial income | 75/76B | €2,219 | €11,925 | +€9,707 | +437.5% |
| Recurring financial income | 75 | €2,219 | €11,925 | +€9,707 | +437.5% |
| Financial charges | 65/66B | €8,144 | €5,001 | -€3,143 | -38.6% |
| Recurring financial charges | 65 | €8,144 | €5,001 | -€3,143 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €145,613 | -€10,967 | -€156,579 | |
| Income taxes | 67/77 | €19,072 | €10,641 | -€8,430 | -44.2% |
| Profit (loss) for the period | 9904 | €126,541 | -€21,608 | -€148,149 | |
| Profit (loss) for the period to be appropriated | 9905 | €126,541 | -€21,608 | -€148,149 |
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 4 October 2026 via checked.be.