ARS CONCEPT: 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 CONCEPT
Largest movements
- Cash +€35,885
up €35,885 (+106.7%), from €33,639 to €69,523
mainly Net result for the year (+€49,515) and Depreciation (+€40,783)
- Tangible fixed assets -€32,123
down €32,123 (-10.6%), from €303,015 to €270,892
of which Furniture and vehicles: -€16,091
- Receivables within one year -€30,478
down €30,478 (-23.8%), from €127,925 to €97,447
of which Other amounts receivable: -€20,195
- Stocks and contracts -€16,059
down €16,059 (-61.8%), from €25,987 to €9,928
- Deferred charges and accrued income -€6,632
down €6,632 (-25.9%), from €25,575 to €18,943
- Trade debts -€88,354
down €88,354 (-78.4%), from €112,670 to €24,316
- Profit (loss) carried forward +€49,515
up €49,515 (+46.0%), from €107,558 to €157,073
- Debts after one year -€38,963
down €38,963 (-18.0%), from €216,595 to €177,632
- Other debts +€13,982
up €13,982 (+37.9%), from €36,855 to €50,836
- Current portion of long-term debt +€7,434
up €7,434 (+31.1%), from €23,938 to €31,372
- Gross operating margin +€148,427
up €148,427, from -€23,590 to €124,838
- Financial income -€50,079
down €50,079 (-99.1%), from €50,509 to €430
of which Non-recurring financial income: -€49,644
- Staff costs +€15,415
up €15,415 (+524.5%), from €2,939 to €18,355
- Taxes +€7,941
up €7,941 (+232206.1%), from €3 to €7,945
- Depreciation +€4,929
up €4,929 (+13.7%), from €35,854 to €40,783
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 | €519,391 | €467,234 | -€52,157 | -10.0% |
| Fixed assets | 21/28 | €306,265 | €271,392 | -€34,873 | -11.4% |
| Intangible fixed assets | 21 | €2,750 | - | -€2,750 | |
| Tangible fixed assets | 22/27 | €303,015 | €270,892 | -€32,123 | -10.6% |
| Land and buildings | 22 | €217,190 | €206,742 | -€10,448 | -4.8% |
| Plant, machinery and equipment | 23 | €16,736 | €11,151 | -€5,585 | -33.4% |
| Furniture and vehicles | 24 | €69,089 | €52,999 | -€16,091 | -23.3% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €213,126 | €195,842 | -€17,284 | -8.1% |
| Stocks and contracts in progress | 3 | €25,987 | €9,928 | -€16,059 | -61.8% |
| Stocks | 30/36 | €25,987 | €9,928 | -€16,059 | -61.8% |
| Amounts receivable within one year | 40/41 | €127,925 | €97,447 | -€30,478 | -23.8% |
| Trade receivables | 40 | €107,632 | €97,349 | -€10,283 | -9.6% |
| Other amounts receivable | 41 | €20,293 | €98 | -€20,195 | -99.5% |
| Cash at bank and in hand | 54/58 | €33,639 | €69,523 | +€35,885 | +106.7% |
| Deferred charges and accrued income | 490/1 | €25,575 | €18,943 | -€6,632 | -25.9% |
| Total equity and liabilities | 10/49 | €519,391 | €467,234 | -€52,157 | -10.0% |
| Equity | 10/15 | €126,158 | €175,673 | +€49,515 | +39.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,558 | €157,073 | +€49,515 | +46.0% |
| Amounts payable | 17/49 | €393,234 | €291,561 | -€101,672 | -25.9% |
| Amounts payable after more than one year | 17 | €216,595 | €177,632 | -€38,963 | -18.0% |
| Financial debts | 170/4 | €216,595 | €177,632 | -€38,963 | -18.0% |
| Amounts payable within one year | 42/48 | €176,639 | €113,930 | -€62,710 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €23,938 | €31,372 | +€7,434 | +31.1% |
| Trade debts | 44 | €112,670 | €24,316 | -€88,354 | -78.4% |
| Suppliers | 440/4 | €112,670 | €24,316 | -€88,354 | -78.4% |
| Advances received on contracts in progress | 46 | €3,177 | - | -€3,177 | |
| Taxes, remuneration and social security | 45 | - | €7,405 | +€7,405 | |
| Taxes | 450/3 | - | €7,405 | +€7,405 | |
| Other amounts payable | 47/48 | €36,855 | €50,836 | +€13,982 | +37.9% |
| Remuneration, social security and pensions | 62 | €2,939 | €18,355 | +€15,415 | +524.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,854 | €40,783 | +€4,929 | +13.7% |
| Other operating charges | 640/8 | €6,458 | €2,279 | -€4,179 | -64.7% |
| Non-recurring operating charges | 66A | - | €836 | +€836 | |
| Gross operating margin | 9900 | -€23,590 | €124,838 | +€148,427 | |
| Operating profit (loss) | 9901 | -€68,841 | €62,585 | +€131,426 | |
| Financial income | 75/76B | €50,509 | €430 | -€50,079 | -99.1% |
| Recurring financial income | 75 | €865 | €430 | -€435 | -50.3% |
| Non-recurring financial income | 76B | €49,644 | - | -€49,644 | |
| Financial charges | 65/66B | €7,425 | €5,555 | -€1,871 | -25.2% |
| Recurring financial charges | 65 | €7,425 | €5,457 | -€1,969 | -26.5% |
| Non-recurring financial charges | 66B | - | €98 | +€98 | |
| Profit (loss) for the period before taxes | 9903 | -€25,757 | €57,460 | +€83,217 | |
| Income taxes | 67/77 | €3 | €7,945 | +€7,941 | +232206.1% |
| Profit (loss) for the period | 9904 | -€25,761 | €49,515 | +€75,276 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,761 | €49,515 | +€75,276 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.