Arrow: 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.
Arrow
Largest movements
- Cash +€17,493
up €17,493 (+53.9%), from €32,443 to €49,937
mainly Net result for the year (+€14,225) and Deferred charges and accrued income (+€8,840)
- Deferred charges and accrued income -€8,840
down €8,840 (-41.7%), from €21,198 to €12,358
- Receivables within one year -€8,083
down €8,083 (-34.7%), from €23,272 to €15,189
of which Trade receivables: -€5,073
- Tangible fixed assets -€2,817
down €2,817 (-22.3%), from €12,657 to €9,840
of which Furniture and vehicles: -€2,003
- Other debts -€4,266
down €4,266 (-100.0%), from €4,266 to €0
- Tax, wage and social debts -€2,979
down €2,979 (-25.4%), from €11,742 to €8,763
of which Taxes: -€3,068
- Trade debts +€2,608
up €2,608 (+258.6%), from €1,009 to €3,616
- Reserves +€2,391
up €2,391 (+2.9%), from €82,159 to €84,550
- Staff costs -€22,533
down €22,533 (-54.3%), from €41,495 to €18,961
- Gross operating margin -€5,824
down €5,824 (-9.9%), from €58,734 to €52,910
- Taxes +€3,084
up €3,084 (+69.0%), from €4,471 to €7,555
- Depreciation -€1,143
down €1,143 (-24.8%), from €4,602 to €3,460
- Financial charges +€813
up €813 (+25.5%), from €3,184 to €3,997
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 | €105,375 | €103,129 | -€2,246 | -2.1% |
| Fixed assets | 21/28 | €12,657 | €9,840 | -€2,817 | -22.3% |
| Tangible fixed assets | 22/27 | €12,657 | €9,840 | -€2,817 | -22.3% |
| Land and buildings | 22 | €4,228 | €3,846 | -€382 | -9.0% |
| Plant, machinery and equipment | 23 | €812 | €380 | -€432 | -53.2% |
| Furniture and vehicles | 24 | €7,617 | €5,614 | -€2,003 | -26.3% |
| Current assets | 29/58 | €92,718 | €93,289 | +€570 | +0.6% |
| Amounts receivable within one year | 40/41 | €23,272 | €15,189 | -€8,083 | -34.7% |
| Trade receivables | 40 | €8,271 | €3,198 | -€5,073 | -61.3% |
| Other amounts receivable | 41 | €15,001 | €11,991 | -€3,010 | -20.1% |
| Current investments | 50/53 | €15,805 | €15,805 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,443 | €49,937 | +€17,493 | +53.9% |
| Deferred charges and accrued income | 490/1 | €21,198 | €12,358 | -€8,840 | -41.7% |
| Total equity and liabilities | 10/49 | €105,375 | €103,129 | -€2,246 | -2.1% |
| Equity | 10/15 | €88,359 | €90,750 | +€2,391 | +2.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €82,159 | €84,550 | +€2,391 | +2.9% |
| Distributable reserves | 133 | €82,159 | €84,550 | +€2,391 | +2.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €17,016 | €12,379 | -€4,637 | -27.3% |
| Amounts payable within one year | 42/48 | €17,016 | €12,379 | -€4,637 | -27.3% |
| Trade debts | 44 | €1,009 | €3,616 | +€2,608 | +258.6% |
| Suppliers | 440/4 | €1,009 | €3,616 | +€2,608 | +258.6% |
| Taxes, remuneration and social security | 45 | €11,742 | €8,763 | -€2,979 | -25.4% |
| Taxes | 450/3 | €5,922 | €2,853 | -€3,068 | -51.8% |
| Remuneration and social security | 454/9 | €5,820 | €5,910 | +€90 | +1.5% |
| Other amounts payable | 47/48 | €4,266 | €0 | -€4,266 | -100.0% |
| Non-recurring operating income | 76A | €3,884 | €6,283 | +€2,398 | +61.7% |
| Remuneration, social security and pensions | 62 | €41,495 | €18,961 | -€22,533 | -54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,602 | €3,460 | -€1,143 | -24.8% |
| Other operating charges | 640/8 | €755 | €759 | +€4 | +0.5% |
| Non-recurring operating charges | 66A | - | €4,308 | +€4,308 | |
| Gross operating margin | 9900 | €58,734 | €52,910 | -€5,824 | -9.9% |
| Operating profit (loss) | 9901 | €11,882 | €25,422 | +€13,540 | +113.9% |
| Financial income | 75/76B | €418 | €356 | -€62 | -14.9% |
| Recurring financial income | 75 | €418 | €356 | -€62 | -14.9% |
| Financial charges | 65/66B | €3,184 | €3,997 | +€813 | +25.5% |
| Recurring financial charges | 65 | €3,184 | €3,997 | +€813 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €9,116 | €21,780 | +€12,664 | +138.9% |
| Income taxes | 67/77 | €4,471 | €7,555 | +€3,084 | +69.0% |
| Profit (loss) for the period | 9904 | €4,645 | €14,225 | +€9,580 | +206.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,645 | €14,225 | +€9,580 | +206.2% |
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 12 October 2026 via checked.be.