ARSE SPORT: 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.
ARSE SPORT
Largest movements
- Stocks and contracts -€21,519
down €21,519 (-5.9%), from €363,047 to €341,528
- Cash -€7,802
down €7,802 (-42.4%), from €18,415 to €10,613
mainly Net result for the year (-€17,184) and Short-term financial debts (-€16,624)
- Tangible fixed assets -€5,343
down €5,343 (-42.2%), from €12,668 to €7,325
of which Plant, machinery and equipment: -€4,172
- Profit (loss) carried forward -€17,184
new in 2025: -€17,184
- Short-term financial debts -€16,624
down €16,624 (-19.6%), from €84,908 to €68,284
- Other debts -€7,235
down €7,235 (-32.5%), from €22,235 to €15,000
- Debts after one year +€5,631
up €5,631 (+12.6%), from €44,813 to €50,444
- Gross operating margin -€33,586
down €33,586 (-90.8%), from €36,979 to €3,393
- Financial charges -€3,566
down €3,566 (-21.1%), from €16,898 to €13,332
- Taxes -€2,512
down €2,512 (-89.9%), from €2,794 to €282
- Other operating charges +€1,608
up €1,608 (+369%), from €435 to €2,043
- Depreciation -€1,148
down €1,148 (-17.7%), from €6,492 to €5,343
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 | €423,305 | €388,695 | -€34,610 | -8.2% |
| Fixed assets | 21/28 | €12,668 | €7,325 | -€5,343 | -42.2% |
| Tangible fixed assets | 22/27 | €12,668 | €7,325 | -€5,343 | -42.2% |
| Plant, machinery and equipment | 23 | €10,107 | €5,935 | -€4,172 | -41.3% |
| Furniture and vehicles | 24 | €2,561 | €1,390 | -€1,171 | -45.7% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €410,636 | €381,370 | -€29,266 | -7.1% |
| Stocks and contracts in progress | 3 | €363,047 | €341,528 | -€21,519 | -5.9% |
| Stocks | 30/36 | €363,047 | €341,528 | -€21,519 | -5.9% |
| Amounts receivable within one year | 40/41 | €28,546 | €26,747 | -€1,800 | -6.3% |
| Trade receivables | 40 | €27,468 | €25,553 | -€1,915 | -7.0% |
| Other amounts receivable | 41 | €1,079 | €1,194 | +€115 | +10.7% |
| Cash at bank and in hand | 54/58 | €18,415 | €10,613 | -€7,802 | -42.4% |
| Deferred charges and accrued income | 490/1 | €628 | €2,482 | +€1,854 | +295% |
| Total equity and liabilities | 10/49 | €423,305 | €388,695 | -€34,610 | -8.2% |
| Equity | 10/15 | €143,698 | €126,514 | -€17,184 | -12.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €138,698 | €138,698 | = | 0.0% |
| Distributable reserves | 133 | €138,698 | €138,698 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€17,184 | -€17,184 | |
| Amounts payable | 17/49 | €279,607 | €262,181 | -€17,426 | -6.2% |
| Amounts payable after more than one year | 17 | €44,813 | €50,444 | +€5,631 | +12.6% |
| Financial debts | 170/4 | €44,813 | €50,444 | +€5,631 | +12.6% |
| Amounts payable within one year | 42/48 | €234,794 | €211,737 | -€23,057 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €41,868 | €40,424 | -€1,444 | -3.4% |
| Financial debts | 43 | €84,908 | €68,284 | -€16,624 | -19.6% |
| Credit institutions | 430/8 | €84,908 | €68,284 | -€16,624 | -19.6% |
| Trade debts | 44 | €68,799 | €71,221 | +€2,422 | +3.5% |
| Suppliers | 440/4 | €68,799 | €71,221 | +€2,422 | +3.5% |
| Taxes, remuneration and social security | 45 | €16,984 | €16,809 | -€175 | -1.0% |
| Taxes | 450/3 | €16,984 | €16,809 | -€175 | -1.0% |
| Other amounts payable | 47/48 | €22,235 | €15,000 | -€7,235 | -32.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,492 | €5,343 | -€1,148 | -17.7% |
| Other operating charges | 640/8 | €435 | €2,043 | +€1,608 | +369% |
| Non-recurring operating charges | 66A | €5,114 | €0 | -€5,114 | -100% |
| Gross operating margin | 9900 | €36,979 | €3,393 | -€33,586 | -90.8% |
| Operating profit (loss) | 9901 | €24,938 | -€3,993 | -€28,931 | |
| Financial income | 75/76B | €400 | €423 | +€23 | +5.8% |
| Recurring financial income | 75 | €400 | €423 | +€23 | +5.8% |
| Financial charges | 65/66B | €16,898 | €13,332 | -€3,566 | -21.1% |
| Recurring financial charges | 65 | €16,898 | €13,332 | -€3,566 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €8,440 | -€16,902 | -€25,341 | |
| Income taxes | 67/77 | €2,794 | €282 | -€2,512 | -89.9% |
| Profit (loss) for the period | 9904 | €5,645 | -€17,184 | -€22,829 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,645 | -€17,184 | -€22,829 |
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 1 November 2026 via checked.be.