ARS ASIA: 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 ASIA
Largest movements
- Receivables within one year -€55,389
no longer reported in 2025 (was €55,389)
of which Trade receivables: -€55,100
- Cash +€10,399
up €10,399 (+46.5%), from €22,376 to €32,775
mainly Receivables within one year (+€55,389) and Tax, wage and social debts (+€9,163)
- Tangible fixed assets -€5,646
down €5,646 (-24.9%), from €22,646 to €17,001
of which Furniture and vehicles: -€3,448
- Profit (loss) carried forward -€29,489
down €29,489 (-30.2%), from -€97,614 to -€127,103
- Accrued charges and deferred income -€20,597
down €20,597 (-57.2%), from €36,000 to €15,403
- Trade debts -€10,857
down €10,857 (-10.6%), from €102,290 to €91,432
- Tax, wage and social debts +€9,163
up €9,163 (+27.4%), from €33,419 to €42,582
of which Remuneration and social security: +€6,848
- Gross operating margin +€29,448
up €29,448 (+29.1%), from €101,189 to €130,637
- Staff costs +€24,230
up €24,230 (+20.3%), from €119,485 to €143,715
- Financial charges +€2,363
up €2,363 (+68.2%), from €3,463 to €5,825
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 | €119,144 | €67,364 | -€51,781 | -43.5% |
| Fixed assets | 21/28 | €35,336 | €29,691 | -€5,646 | -16.0% |
| Tangible fixed assets | 22/27 | €22,646 | €17,001 | -€5,646 | -24.9% |
| Plant, machinery and equipment | 23 | €13,040 | €10,842 | -€2,198 | -16.9% |
| Furniture and vehicles | 24 | €9,607 | €6,158 | -€3,448 | -35.9% |
| Financial fixed assets | 28 | €12,690 | €12,690 | = | 0.0% |
| Current assets | 29/58 | €83,808 | €37,673 | -€46,135 | -55.0% |
| Stocks and contracts in progress | 3 | €3,000 | €3,000 | = | 0.0% |
| Stocks | 30/36 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €55,389 | - | -€55,389 | |
| Trade receivables | 40 | €55,100 | - | -€55,100 | |
| Other amounts receivable | 41 | €289 | - | -€289 | |
| Cash at bank and in hand | 54/58 | €22,376 | €32,775 | +€10,399 | +46.5% |
| Deferred charges and accrued income | 490/1 | €3,043 | €1,898 | -€1,145 | -37.6% |
| Total equity and liabilities | 10/49 | €119,144 | €67,364 | -€51,781 | -43.5% |
| Equity | 10/15 | -€52,564 | -€82,053 | -€29,489 | -56.1% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €50 | €50 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50 | €50 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50 | €50 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,614 | -€127,103 | -€29,489 | -30.2% |
| Amounts payable | 17/49 | €171,708 | €149,417 | -€22,291 | -13.0% |
| Amounts payable within one year | 42/48 | €135,708 | €134,014 | -€1,694 | -1.2% |
| Trade debts | 44 | €102,290 | €91,432 | -€10,857 | -10.6% |
| Suppliers | 440/4 | €102,290 | €91,432 | -€10,857 | -10.6% |
| Taxes, remuneration and social security | 45 | €33,419 | €42,582 | +€9,163 | +27.4% |
| Taxes | 450/3 | €11,178 | €13,493 | +€2,315 | +20.7% |
| Remuneration and social security | 454/9 | €22,241 | €29,089 | +€6,848 | +30.8% |
| Accrued charges and deferred income | 492/3 | €36,000 | €15,403 | -€20,597 | -57.2% |
| Non-recurring operating income | 76A | €35,000 | - | -€35,000 | |
| Remuneration, social security and pensions | 62 | €119,485 | €143,715 | +€24,230 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,716 | €5,646 | -€70 | -1.2% |
| Other operating charges | 640/8 | €3,785 | €4,940 | +€1,154 | +30.5% |
| Gross operating margin | 9900 | €101,189 | €130,637 | +€29,448 | +29.1% |
| Operating profit (loss) | 9901 | -€27,796 | -€23,664 | +€4,133 | +14.9% |
| Financial charges | 65/66B | €3,463 | €5,825 | +€2,363 | +68.2% |
| Recurring financial charges | 65 | €3,463 | €5,825 | +€2,363 | +68.2% |
| Profit (loss) for the period before taxes | 9903 | -€31,259 | -€29,489 | +€1,770 | +5.7% |
| Income taxes | 67/77 | €91 | - | -€91 | |
| Profit (loss) for the period | 9904 | -€31,350 | -€29,489 | +€1,861 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,350 | -€29,489 | +€1,861 | +5.9% |
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 11 October 2026 via checked.be.