ARS METAALWERKEN: 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 METAALWERKEN
Largest movements
- Receivables within one year +€33,207
up €33,207 (+9.4%), from €351,804 to €385,011
of which Other amounts receivable: +€39,577
- Cash +€18,903
up €18,903 (+23.9%), from €78,994 to €97,897
mainly Net result for the year (+€81,072) and Depreciation (+€23,124)
- Deferred charges and accrued income -€18,102
down €18,102 (-20.3%), from €89,253 to €71,151
- Reserves +€81,072
up €81,072 (+83.4%), from €97,260 to €178,332
- Trade debts -€30,174
down €30,174 (-74.2%), from €40,693 to €10,519
- Debts after one year -€26,655
down €26,655 (-9.2%), from €290,388 to €263,734
- Tax, wage and social debts +€10,829
up €10,829 (+26.1%), from €41,561 to €52,390
of which Taxes: +€21,341
- Gross operating margin -€106,208
down €106,208 (-23.3%), from €455,602 to €349,394
- Staff costs -€91,605
down €91,605 (-31.8%), from €288,071 to €196,466
- Depreciation +€5,842
up €5,842 (+33.8%), from €17,282 to €23,124
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 | €827,585 | €862,624 | +€35,038 | +4.2% |
| Fixed assets | 21/28 | €307,535 | €308,566 | +€1,030 | +0.3% |
| Tangible fixed assets | 22/27 | €306,035 | €307,066 | +€1,030 | +0.3% |
| Land and buildings | 22 | €297,259 | €282,472 | -€14,787 | -5.0% |
| Plant, machinery and equipment | 23 | €6,649 | €8,949 | +€2,300 | +34.6% |
| Furniture and vehicles | 24 | €2,127 | €15,644 | +€13,517 | +635% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €520,050 | €554,058 | +€34,008 | +6.5% |
| Amounts receivable within one year | 40/41 | €351,804 | €385,011 | +€33,207 | +9.4% |
| Trade receivables | 40 | €69,144 | €62,775 | -€6,369 | -9.2% |
| Other amounts receivable | 41 | €282,659 | €322,236 | +€39,577 | +14.0% |
| Cash at bank and in hand | 54/58 | €78,994 | €97,897 | +€18,903 | +23.9% |
| Deferred charges and accrued income | 490/1 | €89,253 | €71,151 | -€18,102 | -20.3% |
| Total equity and liabilities | 10/49 | €827,585 | €862,624 | +€35,038 | +4.2% |
| Equity | 10/15 | €391,439 | €472,511 | +€81,072 | +20.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €97,260 | €178,332 | +€81,072 | +83.4% |
| Distributable reserves | 133 | €97,260 | €178,332 | +€81,072 | +83.4% |
| Profit (loss) carried forward | 14 | €281,779 | €281,779 | -€0 | 0.0% |
| Amounts payable | 17/49 | €436,146 | €390,112 | -€46,034 | -10.6% |
| Amounts payable after more than one year | 17 | €290,388 | €263,734 | -€26,655 | -9.2% |
| Financial debts | 170/4 | €290,388 | €263,734 | -€26,655 | -9.2% |
| Amounts payable within one year | 42/48 | €145,758 | €126,379 | -€19,379 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €26,655 | €26,655 | = | 0.0% |
| Financial debts | 43 | €36,849 | €36,816 | -€34 | -0.1% |
| Credit institutions | 430/8 | €36,849 | €6,816 | -€30,034 | -81.5% |
| Other loans | 439 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €40,693 | €10,519 | -€30,174 | -74.2% |
| Suppliers | 440/4 | €40,693 | €10,519 | -€30,174 | -74.2% |
| Taxes, remuneration and social security | 45 | €41,561 | €52,390 | +€10,829 | +26.1% |
| Taxes | 450/3 | €28,139 | €49,481 | +€21,341 | +75.8% |
| Remuneration and social security | 454/9 | €13,422 | €2,909 | -€10,513 | -78.3% |
| Non-recurring operating income | 76A | €27,645 | - | -€27,645 | |
| Remuneration, social security and pensions | 62 | €288,071 | €196,466 | -€91,605 | -31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,282 | €23,124 | +€5,842 | +33.8% |
| Other operating charges | 640/8 | €12,213 | €8,061 | -€4,153 | -34.0% |
| Non-recurring operating charges | 66A | - | €4,970 | +€4,970 | |
| Gross operating margin | 9900 | €455,602 | €349,394 | -€106,208 | -23.3% |
| Operating profit (loss) | 9901 | €138,036 | €116,773 | -€21,263 | -15.4% |
| Financial income | 75/76B | €16,331 | €17,770 | +€1,440 | +8.8% |
| Recurring financial income | 75 | €16,331 | €17,770 | +€1,440 | +8.8% |
| Financial charges | 65/66B | €12,972 | €11,923 | -€1,049 | -8.1% |
| Recurring financial charges | 65 | €12,972 | €11,923 | -€1,049 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €141,395 | €122,620 | -€18,774 | -13.3% |
| Income taxes | 67/77 | €45,995 | €41,548 | -€4,446 | -9.7% |
| Profit (loss) for the period | 9904 | €95,400 | €81,072 | -€14,328 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €95,400 | €81,072 | -€14,328 | -15.0% |
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 29 October 2026 via checked.be.