ARS PNEUMO: 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 PNEUMO
Largest movements
- Current investments +€99,060
up €99,060 (+45.2%), from €219,163 to €318,223
- Tangible fixed assets +€53,251
up €53,251 (+296.9%), from €17,935 to €71,186
of which Furniture and vehicles: +€38,048
- Receivables within one year +€12,631
up €12,631 (+16.3%), from €77,400 to €90,031
of which Other amounts receivable: +€90,031
- Reserves +€144,000
up €144,000 (+36.5%), from €395,000 to €539,000
- Debts after one year +€21,978
new in 2025: €21,978
- Gross operating margin +€177,383
up €177,383 (+96.8%), from €183,292 to €360,675
- Taxes +€32,665
up €32,665 (+61.9%), from €52,795 to €85,460
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 | €453,855 | €624,956 | +€171,101 | +37.7% |
| Fixed assets | 21/28 | €17,935 | €71,186 | +€53,251 | +296.9% |
| Tangible fixed assets | 22/27 | €17,935 | €71,186 | +€53,251 | +296.9% |
| Plant, machinery and equipment | 23 | - | €15,203 | +€15,203 | |
| Furniture and vehicles | 24 | €17,935 | €55,984 | +€38,048 | +212.1% |
| Current assets | 29/58 | €435,920 | €553,769 | +€117,849 | +27.0% |
| Amounts receivable within one year | 40/41 | €77,400 | €90,031 | +€12,631 | +16.3% |
| Trade receivables | 40 | €77,400 | - | -€77,400 | |
| Other amounts receivable | 41 | - | €90,031 | +€90,031 | |
| Current investments | 50/53 | €219,163 | €318,223 | +€99,060 | +45.2% |
| Cash at bank and in hand | 54/58 | €138,984 | €143,705 | +€4,721 | +3.4% |
| Deferred charges and accrued income | 490/1 | €372 | €1,811 | +€1,438 | +386.2% |
| Total equity and liabilities | 10/49 | €453,855 | €624,956 | +€171,101 | +37.7% |
| Equity | 10/15 | €409,958 | €554,155 | +€144,198 | +35.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €395,000 | €539,000 | +€144,000 | +36.5% |
| Distributable reserves | 133 | €395,000 | €539,000 | +€144,000 | +36.5% |
| Profit (loss) carried forward | 14 | €4,958 | €5,155 | +€198 | +4.0% |
| Amounts payable | 17/49 | €43,897 | €70,800 | +€26,903 | +61.3% |
| Amounts payable after more than one year | 17 | - | €21,978 | +€21,978 | |
| Financial debts | 170/4 | - | €21,978 | +€21,978 | |
| Amounts payable within one year | 42/48 | €43,897 | €48,822 | +€4,925 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | - | €5,702 | +€5,702 | |
| Trade debts | 44 | €14,254 | €13,260 | -€994 | -7.0% |
| Suppliers | 440/4 | €14,254 | €13,260 | -€994 | -7.0% |
| Taxes, remuneration and social security | 45 | €27,795 | €27,396 | -€400 | -1.4% |
| Taxes | 450/3 | €27,795 | €27,396 | -€400 | -1.4% |
| Other amounts payable | 47/48 | €1,847 | €2,465 | +€617 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,096 | €13,136 | +€1,040 | +8.6% |
| Other operating charges | 640/8 | €298 | €382 | +€84 | +28.1% |
| Gross operating margin | 9900 | €183,292 | €360,675 | +€177,383 | +96.8% |
| Operating profit (loss) | 9901 | €170,898 | €347,157 | +€176,259 | +103.1% |
| Financial income | 75/76B | €157 | €3,548 | +€3,391 | +2155.9% |
| Recurring financial income | 75 | €157 | €3,548 | +€3,391 | +2155.9% |
| Financial charges | 65/66B | €159 | €1,047 | +€888 | +558.6% |
| Recurring financial charges | 65 | €159 | €1,047 | +€888 | +558.6% |
| Profit (loss) for the period before taxes | 9903 | €170,896 | €349,658 | +€178,762 | +104.6% |
| Income taxes | 67/77 | €52,795 | €85,460 | +€32,665 | +61.9% |
| Profit (loss) for the period | 9904 | €118,101 | €264,198 | +€146,097 | +123.7% |
| Profit (loss) for the period to be appropriated | 9905 | €118,101 | €264,198 | +€146,097 | +123.7% |
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.