ARPOETSIE: 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.
ARPOETSIE
Largest movements
- Cash +€52,741
up €52,741 (+77.7%), from €67,857 to €120,598
mainly Net result for the year (+€44,904) and Receivables within one year (+€39,326)
- Receivables within one year -€39,326
down €39,326 (-37.7%), from €104,309 to €64,984
of which Trade receivables: -€32,286
- Tangible fixed assets -€25,004
down €25,004 (-13.5%), from €184,878 to €159,874
of which Land and buildings: -€22,326
- Reserves +€37,557
up €37,557 (+34.6%), from €108,540 to €146,098
- Debts after one year -€22,400
down €22,400 (-29.9%), from €75,017 to €52,617
- Other debts -€18,121
down €18,121 (-49.3%), from €36,760 to €18,640
- Trade debts -€9,471
down €9,471 (-36.4%), from €26,005 to €16,534
- Staff costs +€43,818
up €43,818 (+8.4%), from €521,663 to €565,481
- Gross operating margin +€43,337
up €43,337 (+6.8%), from €637,428 to €680,765
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 | €363,369 | €351,218 | -€12,151 | -3.3% |
| Fixed assets | 21/28 | €185,601 | €160,282 | -€25,319 | -13.6% |
| Intangible fixed assets | 21 | €723 | €408 | -€315 | -43.6% |
| Tangible fixed assets | 22/27 | €184,878 | €159,874 | -€25,004 | -13.5% |
| Land and buildings | 22 | €147,105 | €124,779 | -€22,326 | -15.2% |
| Plant, machinery and equipment | 23 | €9,007 | €9,234 | +€227 | +2.5% |
| Furniture and vehicles | 24 | €23,594 | €22,487 | -€1,107 | -4.7% |
| Other tangible fixed assets | 26 | €5,171 | €3,374 | -€1,798 | -34.8% |
| Current assets | 29/58 | €177,768 | €190,936 | +€13,168 | +7.4% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €104,309 | €64,984 | -€39,326 | -37.7% |
| Trade receivables | 40 | €97,270 | €64,984 | -€32,286 | -33.2% |
| Other amounts receivable | 41 | €7,039 | €0 | -€7,039 | -100.0% |
| Cash at bank and in hand | 54/58 | €67,857 | €120,598 | +€52,741 | +77.7% |
| Deferred charges and accrued income | 490/1 | €4,601 | €4,354 | -€247 | -5.4% |
| Total equity and liabilities | 10/49 | €363,369 | €351,218 | -€12,151 | -3.3% |
| Equity | 10/15 | €129,373 | €166,931 | +€37,557 | +29.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €108,540 | €146,098 | +€37,557 | +34.6% |
| Distributable reserves | 133 | €108,540 | €146,098 | +€37,557 | +34.6% |
| Profit (loss) carried forward | 14 | €2,233 | €2,233 | = | 0.0% |
| Amounts payable | 17/49 | €233,996 | €184,287 | -€49,708 | -21.2% |
| Amounts payable after more than one year | 17 | €75,017 | €52,617 | -€22,400 | -29.9% |
| Financial debts | 170/4 | €75,017 | €52,617 | -€22,400 | -29.9% |
| Amounts payable within one year | 42/48 | €158,978 | €131,670 | -€27,308 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €25,416 | €22,400 | -€3,016 | -11.9% |
| Trade debts | 44 | €26,005 | €16,534 | -€9,471 | -36.4% |
| Suppliers | 440/4 | €26,005 | €16,534 | -€9,471 | -36.4% |
| Taxes, remuneration and social security | 45 | €70,797 | €74,096 | +€3,299 | +4.7% |
| Taxes | 450/3 | €11,677 | €15,766 | +€4,089 | +35.0% |
| Remuneration and social security | 454/9 | €59,120 | €58,330 | -€790 | -1.3% |
| Other amounts payable | 47/48 | €36,760 | €18,640 | -€18,121 | -49.3% |
| Remuneration, social security and pensions | 62 | €521,663 | €565,481 | +€43,818 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,803 | €36,479 | +€4,676 | +14.7% |
| Other operating charges | 640/8 | €3,432 | €3,754 | +€322 | +9.4% |
| Non-recurring operating charges | 66A | €1,873 | €1,809 | -€65 | -3.4% |
| Gross operating margin | 9900 | €637,428 | €680,765 | +€43,337 | +6.8% |
| Operating profit (loss) | 9901 | €78,657 | €73,242 | -€5,414 | -6.9% |
| Financial income | 75/76B | €183 | €35 | -€148 | -81.0% |
| Recurring financial income | 75 | €183 | €35 | -€148 | -81.0% |
| Financial charges | 65/66B | €6,907 | €5,337 | -€1,570 | -22.7% |
| Recurring financial charges | 65 | €6,907 | €5,337 | -€1,570 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €71,932 | €67,940 | -€3,992 | -5.5% |
| Income taxes | 67/77 | €23,961 | €23,036 | -€925 | -3.9% |
| Profit (loss) for the period | 9904 | €47,971 | €44,904 | -€3,067 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €47,971 | €44,904 | -€3,067 | -6.4% |
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 9 October 2026 via checked.be.