ARS: 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.
ARS
Largest movements
- Stocks and contracts -€35,386
down €35,386 (-87.3%), from €40,542 to €5,157
- Tangible fixed assets -€20,141
down €20,141 (-37.8%), from €53,343 to €33,203
of which Furniture and vehicles: -€19,352
- Cash -€2,934
down €2,934 (-68.7%), from €4,270 to €1,336
mainly Net result for the year (-€43,507) and Other debts (-€12,444)
- Receivables within one year -€1,319
down €1,319 (-39.7%), from €3,319 to €2,000
of which Trade receivables: -€824
- Profit (loss) carried forward -€43,507
down €43,507 (-10.6%), from -€411,286 to -€454,793
- Other debts -€12,444
down €12,444 (-4.9%), from €252,517 to €240,073
- Trade debts -€2,498
down €2,498 (-82.9%), from €3,013 to €515
- Advances received -€2,280
down €2,280 (-100.0%), from €2,280 to €0
- Gross operating margin -€11,252
down €11,252 (-100.2%), from -€11,233 to -€22,484
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 | €101,474 | €41,696 | -€59,779 | -58.9% |
| Fixed assets | 21/28 | €53,343 | €33,203 | -€20,141 | -37.8% |
| Tangible fixed assets | 22/27 | €53,343 | €33,203 | -€20,141 | -37.8% |
| Plant, machinery and equipment | 23 | €2,026 | €1,238 | -€788 | -38.9% |
| Furniture and vehicles | 24 | €51,317 | €31,965 | -€19,352 | -37.7% |
| Current assets | 29/58 | €48,131 | €8,493 | -€39,638 | -82.4% |
| Stocks and contracts in progress | 3 | €40,542 | €5,157 | -€35,386 | -87.3% |
| Stocks | 30/36 | €40,542 | €5,157 | -€35,386 | -87.3% |
| Amounts receivable within one year | 40/41 | €3,319 | €2,000 | -€1,319 | -39.7% |
| Trade receivables | 40 | €2,824 | €2,000 | -€824 | -29.2% |
| Other amounts receivable | 41 | €495 | €0 | -€495 | -100.0% |
| Cash at bank and in hand | 54/58 | €4,270 | €1,336 | -€2,934 | -68.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €101,474 | €41,696 | -€59,779 | -58.9% |
| Equity | 10/15 | -€156,940 | -€200,447 | -€43,507 | -27.7% |
| Contributions | 10/11 | €205,538 | €205,538 | = | 0.0% |
| Capital | 10 | €205,538 | €205,538 | = | 0.0% |
| Issued capital | 100 | €205,538 | €205,538 | = | 0.0% |
| Reserves | 13 | €48,807 | €48,807 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,194 | €26,194 | = | 0.0% |
| Legal reserve | 130 | €26,194 | €26,194 | = | 0.0% |
| Distributable reserves | 133 | €22,613 | €22,613 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€411,286 | -€454,793 | -€43,507 | -10.6% |
| Amounts payable | 17/49 | €258,414 | €242,143 | -€16,272 | -6.3% |
| Amounts payable within one year | 42/48 | €258,414 | €242,143 | -€16,272 | -6.3% |
| Trade debts | 44 | €3,013 | €515 | -€2,498 | -82.9% |
| Suppliers | 440/4 | €3,013 | €515 | -€2,498 | -82.9% |
| Advances received on contracts in progress | 46 | €2,280 | €0 | -€2,280 | -100.0% |
| Taxes, remuneration and social security | 45 | €605 | €1,555 | +€950 | +157.1% |
| Taxes | 450/3 | €605 | €1,555 | +€950 | +157.1% |
| Other amounts payable | 47/48 | €252,517 | €240,073 | -€12,444 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,269 | €20,141 | -€129 | -0.6% |
| Other operating charges | 640/8 | €973 | €786 | -€188 | -19.3% |
| Gross operating margin | 9900 | -€11,233 | -€22,484 | -€11,252 | -100.2% |
| Operating profit (loss) | 9901 | -€32,475 | -€43,411 | -€10,935 | -33.7% |
| Financial income | 75/76B | €0 | €7 | +€7 | +70000.0% |
| Recurring financial income | 75 | €0 | €7 | +€7 | +70000.0% |
| Financial charges | 65/66B | €95 | €104 | +€9 | +9.1% |
| Recurring financial charges | 65 | €95 | €104 | +€9 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€32,570 | -€43,507 | -€10,937 | -33.6% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€32,570 | -€43,507 | -€10,937 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,570 | -€43,507 | -€10,937 | -33.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.