Ars Belga: 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 Belga
Largest movements
- Receivables within one year -€867,541
down €867,541 (-84.1%), from €1.0m to €164,017
of which Trade receivables: -€891,650
- Stocks and contracts -€81,850
down €81,850 (-35.8%), from €228,520 to €146,670
- Trade debts -€887,405
down €887,405 (-77.3%), from €1.1m to €260,239
- Other debts -€68,283
down €68,283 (-50.7%), from €134,672 to €66,389
- Gross operating margin +€60,202
up €60,202, from -€28,443 to €31,759
- Financial income -€43,294
down €43,294 (-97.5%), from €44,395 to €1,101
- Taxes +€3,580
up €3,580 (+85.8%), from €4,174 to €7,755
- Financial charges +€2,956
up €2,956 (+92.8%), from €3,186 to €6,142
- Staff costs +€2,158
no longer reported in 2024 (was -€2,158)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,333,137 | €383,133 | -€950,004 | -71.3% |
| Fixed assets | 21/28 | €58,745 | €61,388 | +€2,643 | +4.5% |
| Intangible fixed assets | 21 | €8,029 | €4,804 | -€3,225 | -40.2% |
| Tangible fixed assets | 22/27 | €27,351 | €21,056 | -€6,295 | -23.0% |
| Furniture and vehicles | 24 | €2,979 | €1,947 | -€1,032 | -34.6% |
| Other tangible fixed assets | 26 | €24,373 | €19,109 | -€5,263 | -21.6% |
| Financial fixed assets | 28 | €23,365 | €35,527 | +€12,162 | +52.1% |
| Current assets | 29/58 | €1,274,392 | €321,745 | -€952,646 | -74.8% |
| Stocks and contracts in progress | 3 | €228,520 | €146,670 | -€81,850 | -35.8% |
| Stocks | 30/36 | €228,520 | €146,670 | -€81,850 | -35.8% |
| Amounts receivable within one year | 40/41 | €1,031,558 | €164,017 | -€867,541 | -84.1% |
| Trade receivables | 40 | €1,025,529 | €133,879 | -€891,650 | -86.9% |
| Other amounts receivable | 41 | €6,029 | €30,138 | +€24,109 | +400% |
| Cash at bank and in hand | 54/58 | €10,218 | €8,192 | -€2,026 | -19.8% |
| Deferred charges and accrued income | 490/1 | €4,096 | €2,867 | -€1,230 | -30.0% |
| Total equity and liabilities | 10/49 | €1,333,137 | €383,133 | -€950,004 | -71.3% |
| Equity | 10/15 | €34,739 | €43,527 | +€8,788 | +25.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €14,279 | €23,067 | +€8,788 | +61.5% |
| Amounts payable | 17/49 | €1,298,398 | €339,607 | -€958,791 | -73.8% |
| Amounts payable within one year | 42/48 | €1,297,398 | €338,607 | -€958,791 | -73.9% |
| Trade debts | 44 | €1,147,644 | €260,239 | -€887,405 | -77.3% |
| Suppliers | 440/4 | €1,147,644 | €260,239 | -€887,405 | -77.3% |
| Taxes, remuneration and social security | 45 | €15,082 | €11,979 | -€3,103 | -20.6% |
| Taxes | 450/3 | €15,082 | €11,979 | -€3,103 | -20.6% |
| Other amounts payable | 47/48 | €134,672 | €66,389 | -€68,283 | -50.7% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | -€2,158 | - | +€2,158 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,075 | €9,520 | +€445 | +4.9% |
| Other operating charges | 640/8 | €853 | €656 | -€197 | -23.1% |
| Gross operating margin | 9900 | -€28,443 | €31,759 | +€60,202 | |
| Operating profit (loss) | 9901 | -€36,213 | €21,583 | +€57,796 | |
| Financial income | 75/76B | €44,395 | €1,101 | -€43,294 | -97.5% |
| Recurring financial income | 75 | €44,395 | €1,101 | -€43,294 | -97.5% |
| Financial charges | 65/66B | €3,186 | €6,142 | +€2,956 | +92.8% |
| Recurring financial charges | 65 | €3,186 | €6,142 | +€2,956 | +92.8% |
| Profit (loss) for the period before taxes | 9903 | €4,996 | €16,542 | +€11,546 | +231% |
| Income taxes | 67/77 | €4,174 | €7,755 | +€3,580 | +85.8% |
| Profit (loss) for the period | 9904 | €822 | €8,788 | +€7,966 | +969% |
| Profit (loss) for the period to be appropriated | 9905 | €822 | €8,788 | +€7,966 | +969% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.