ARS: 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.
ARS
Largest movements
- Tangible fixed assets +€3,198
new in 2025: €3,198
- Receivables within one year +€1,397
up €1,397 (+5.6%), from €24,780 to €26,177
of which Other amounts receivable: +€704
- Cash -€913
down €913 (-15.3%), from €5,946 to €5,033
mainly Investment in fixed assets (net) (-€3,838) and Tax, wage and social debts (-€1,938)
- Trade debts +€4,760
up €4,760 (+876%), from €543 to €5,303
- Tax, wage and social debts -€1,938
down €1,938 (-48.3%), from €4,014 to €2,076
- Profit (loss) carried forward +€582
up €582 (+2.3%), from €24,968 to €25,550
- Gross operating margin +€10,605
up €10,605, from -€7,580 to €3,025
- Depreciation +€640
new in 2025: €640
- Financial charges +€511
up €511 (+53.4%), from €957 to €1,468
- Other operating charges -€158
down €158 (-28.9%), from €549 to €391
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 | €30,725 | €34,408 | +€3,683 | +12.0% |
| Fixed assets | 21/28 | - | €3,198 | +€3,198 | |
| Tangible fixed assets | 22/27 | - | €3,198 | +€3,198 | |
| Furniture and vehicles | 24 | - | €3,198 | +€3,198 | |
| Current assets | 29/58 | €30,725 | €31,210 | +€485 | +1.6% |
| Amounts receivable within one year | 40/41 | €24,780 | €26,177 | +€1,397 | +5.6% |
| Trade receivables | 40 | €8,966 | €9,660 | +€694 | +7.7% |
| Other amounts receivable | 41 | €15,813 | €16,517 | +€704 | +4.5% |
| Cash at bank and in hand | 54/58 | €5,946 | €5,033 | -€913 | -15.3% |
| Total equity and liabilities | 10/49 | €30,725 | €34,408 | +€3,683 | +12.0% |
| Equity | 10/15 | €26,168 | €26,750 | +€582 | +2.2% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,968 | €25,550 | +€582 | +2.3% |
| Amounts payable | 17/49 | €4,557 | €7,658 | +€3,101 | +68.1% |
| Amounts payable within one year | 42/48 | €4,557 | €7,658 | +€3,101 | +68.1% |
| Trade debts | 44 | €543 | €5,303 | +€4,760 | +876% |
| Suppliers | 440/4 | €543 | €5,303 | +€4,760 | +876% |
| Taxes, remuneration and social security | 45 | €4,014 | €2,076 | -€1,938 | -48.3% |
| Taxes | 450/3 | €4,014 | €2,076 | -€1,938 | -48.3% |
| Other amounts payable | 47/48 | - | €280 | +€280 | |
| Remuneration, social security and pensions | 62 | €3 | €9 | +€5 | +159% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €640 | +€640 | |
| Other operating charges | 640/8 | €549 | €391 | -€158 | -28.9% |
| Gross operating margin | 9900 | -€7,580 | €3,025 | +€10,605 | |
| Operating profit (loss) | 9901 | -€8,133 | €1,985 | +€10,118 | |
| Financial income | 75/76B | €0 | €65 | +€64 | +16,085% |
| Recurring financial income | 75 | €0 | €65 | +€64 | +16,085% |
| Financial charges | 65/66B | €957 | €1,468 | +€511 | +53.4% |
| Recurring financial charges | 65 | €957 | €1,468 | +€511 | +53.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,090 | €582 | +€9,671 | |
| Profit (loss) for the period | 9904 | -€9,090 | €582 | +€9,671 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,090 | €582 | +€9,671 |
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 15 October 2026 via checked.be.