Arscensio: 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.
Arscensio
Largest movements
- Receivables within one year +€154,642
up €154,642 (+274.7%), from €56,285 to €210,927
of which Other amounts receivable: +€78,820
- Cash -€135,832
down €135,832 (-42.1%), from €322,992 to €187,160
mainly Contributions, distributions and other (-€250,000) and Receivables within one year (-€154,642)
- Stocks and contracts +€120,550
up €120,550 (+162.0%), from €74,420 to €194,970
of which Contracts in progress: +€97,572
- Tangible fixed assets +€32,833
up €32,833 (+46.4%), from €70,818 to €103,651
of which Leasing and similar rights: +€52,048
- Profit (loss) carried forward -€424,450
down €424,450 (-100.0%), from €424,450 to €0
- Reserves +€301,375
new in 2025: €301,375
- Other debts +€208,499
up €208,499 (+126886.0%), from €164 to €208,663
- Trade debts +€51,043
up €51,043 (+714.0%), from €7,149 to €58,192
- Short-term financial debts -€26,792
down €26,792 (-99.1%), from €27,046 to €254
- Gross operating margin -€23,469
down €23,469 (-9.7%), from €241,343 to €217,874
- Depreciation +€3,314
up €3,314 (+9.6%), from €34,610 to €37,923
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 | €529,980 | €700,625 | +€170,645 | +32.2% |
| Fixed assets | 21/28 | €70,818 | €103,651 | +€32,833 | +46.4% |
| Tangible fixed assets | 22/27 | €70,818 | €103,651 | +€32,833 | +46.4% |
| Plant, machinery and equipment | 23 | €7,445 | €12,249 | +€4,804 | +64.5% |
| Furniture and vehicles | 24 | €63,373 | €37,198 | -€26,175 | -41.3% |
| Leasing and similar rights | 25 | - | €52,048 | +€52,048 | |
| Other tangible fixed assets | 26 | - | €2,156 | +€2,156 | |
| Current assets | 29/58 | €459,162 | €596,974 | +€137,811 | +30.0% |
| Stocks and contracts in progress | 3 | €74,420 | €194,970 | +€120,550 | +162.0% |
| Stocks | 30/36 | €74,420 | €97,398 | +€22,978 | +30.9% |
| Contracts in progress | 37 | - | €97,572 | +€97,572 | |
| Amounts receivable within one year | 40/41 | €56,285 | €210,927 | +€154,642 | +274.7% |
| Trade receivables | 40 | €13,969 | €89,791 | +€75,822 | +542.8% |
| Other amounts receivable | 41 | €42,316 | €121,136 | +€78,820 | +186.3% |
| Cash at bank and in hand | 54/58 | €322,992 | €187,160 | -€135,832 | -42.1% |
| Deferred charges and accrued income | 490/1 | €5,465 | €3,917 | -€1,549 | -28.3% |
| Total equity and liabilities | 10/49 | €529,980 | €700,625 | +€170,645 | +32.2% |
| Equity | 10/15 | €474,450 | €351,375 | -€123,075 | -25.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | - | €301,375 | +€301,375 | |
| Distributable reserves | 133 | - | €301,375 | +€301,375 | |
| Profit (loss) carried forward | 14 | €424,450 | €0 | -€424,450 | -100.0% |
| Amounts payable | 17/49 | €55,530 | €349,250 | +€293,720 | +528.9% |
| Amounts payable after more than one year | 17 | €11,706 | €37,823 | +€26,117 | +223.1% |
| Financial debts | 170/4 | €11,706 | €37,823 | +€26,117 | +223.1% |
| Amounts payable within one year | 42/48 | €43,824 | €310,727 | +€266,903 | +609.0% |
| Current portion of amounts payable after more than one year | 42 | €9,435 | €25,554 | +€16,118 | +170.8% |
| Financial debts | 43 | €27,046 | €254 | -€26,792 | -99.1% |
| Credit institutions | 430/8 | €27,046 | €254 | -€26,792 | -99.1% |
| Trade debts | 44 | €7,149 | €58,192 | +€51,043 | +714.0% |
| Suppliers | 440/4 | €7,149 | €58,192 | +€51,043 | +714.0% |
| Taxes, remuneration and social security | 45 | €29 | €18,064 | +€18,035 | +61848.0% |
| Taxes | 450/3 | €29 | €18,064 | +€18,035 | +61848.0% |
| Other amounts payable | 47/48 | €164 | €208,663 | +€208,499 | +126886.0% |
| Accrued charges and deferred income | 492/3 | €0 | €700 | +€700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,610 | €37,923 | +€3,314 | +9.6% |
| Other operating charges | 640/8 | €2,824 | €4,380 | +€1,557 | +55.1% |
| Gross operating margin | 9900 | €241,343 | €217,874 | -€23,469 | -9.7% |
| Operating profit (loss) | 9901 | €203,910 | €175,571 | -€28,339 | -13.9% |
| Financial income | 75/76B | €0 | €228 | +€228 | |
| Recurring financial income | 75 | €0 | €228 | +€228 | |
| Financial charges | 65/66B | €3,246 | €1,506 | -€1,740 | -53.6% |
| Recurring financial charges | 65 | €3,246 | €1,506 | -€1,740 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | €200,664 | €174,294 | -€26,371 | -13.1% |
| Income taxes | 67/77 | €45,909 | €47,369 | +€1,460 | +3.2% |
| Profit (loss) for the period | 9904 | €154,755 | €126,925 | -€27,831 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €154,755 | €126,925 | -€27,831 | -18.0% |
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 10 October 2026 via checked.be.