Arsa HR: 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.
Arsa HR
Largest movements
- Tangible fixed assets +€20,337
up €20,337 (+183%), from €11,105 to €31,443
of which Other tangible fixed assets: +€16,744
- Cash -€2,956
down €2,956 (-19.0%), from €15,552 to €12,597
mainly Investment in fixed assets (net) (-€23,023) and Receivables within one year (-€1,847)
- Receivables within one year +€1,847
up €1,847 (+12.0%), from €15,428 to €17,274
of which Other amounts receivable: +€4,796
- Deferred charges and accrued income +€979
up €979 (+92.5%), from €1,058 to €2,037
- Other debts +€9,822
up €9,822 (+77.3%), from €12,699 to €22,521
- Profit (loss) carried forward +€6,055
up €6,055 (+29.1%), from €20,803 to €26,858
- Tax, wage and social debts +€4,749
up €4,749 (+94.8%), from €5,008 to €9,756
- Accrued charges and deferred income -€666
down €666 (-90.9%), from €733 to €67
- Gross operating margin -€16,167
down €16,167 (-53.2%), from €30,396 to €14,229
- Taxes -€3,779
down €3,779 (-62.7%), from €6,022 to €2,243
- Depreciation +€1,989
up €1,989 (+285%), from €697 to €2,685
- Financial charges +€578
up €578 (+29.6%), from €1,951 to €2,528
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 | €43,143 | €63,350 | +€20,207 | +46.8% |
| Fixed assets | 21/28 | €11,105 | €31,443 | +€20,337 | +183% |
| Tangible fixed assets | 22/27 | €11,105 | €31,443 | +€20,337 | +183% |
| Plant, machinery and equipment | 23 | - | €4,174 | +€4,174 | |
| Furniture and vehicles | 24 | €2,467 | €1,887 | -€581 | -23.5% |
| Other tangible fixed assets | 26 | €8,638 | €25,382 | +€16,744 | +194% |
| Current assets | 29/58 | €32,038 | €31,908 | -€130 | -0.4% |
| Amounts receivable within one year | 40/41 | €15,428 | €17,274 | +€1,847 | +12.0% |
| Trade receivables | 40 | €15,428 | €12,478 | -€2,949 | -19.1% |
| Other amounts receivable | 41 | - | €4,796 | +€4,796 | |
| Cash at bank and in hand | 54/58 | €15,552 | €12,597 | -€2,956 | -19.0% |
| Deferred charges and accrued income | 490/1 | €1,058 | €2,037 | +€979 | +92.5% |
| Total equity and liabilities | 10/49 | €43,143 | €63,350 | +€20,207 | +46.8% |
| Equity | 10/15 | €23,803 | €29,858 | +€6,055 | +25.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,803 | €26,858 | +€6,055 | +29.1% |
| Amounts payable | 17/49 | €19,340 | €33,493 | +€14,153 | +73.2% |
| Amounts payable within one year | 42/48 | €18,607 | €33,426 | +€14,819 | +79.6% |
| Trade debts | 44 | €901 | €1,149 | +€248 | +27.6% |
| Suppliers | 440/4 | €901 | €1,149 | +€248 | +27.6% |
| Taxes, remuneration and social security | 45 | €5,008 | €9,756 | +€4,749 | +94.8% |
| Taxes | 450/3 | €5,008 | €9,756 | +€4,749 | +94.8% |
| Other amounts payable | 47/48 | €12,699 | €22,521 | +€9,822 | +77.3% |
| Accrued charges and deferred income | 492/3 | €733 | €67 | -€666 | -90.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €697 | €2,685 | +€1,989 | +285% |
| Other operating charges | 640/8 | €929 | €717 | -€212 | -22.8% |
| Gross operating margin | 9900 | €30,396 | €14,229 | -€16,167 | -53.2% |
| Operating profit (loss) | 9901 | €28,769 | €10,826 | -€17,943 | -62.4% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100% |
| Financial charges | 65/66B | €1,951 | €2,528 | +€578 | +29.6% |
| Recurring financial charges | 65 | €1,951 | €2,528 | +€578 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | €26,825 | €8,298 | -€18,527 | -69.1% |
| Income taxes | 67/77 | €6,022 | €2,243 | -€3,779 | -62.7% |
| Profit (loss) for the period | 9904 | €20,803 | €6,055 | -€14,749 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,803 | €6,055 | -€14,749 | -70.9% |
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 19 October 2026 via checked.be.