Arseli: 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.
Arseli
Largest movements
- Current investments +€33,000
new in 2025: €33,000
- Cash -€21,897
down €21,897 (-33.7%), from €65,056 to €43,160
mainly Current investments (-€33,000) and Investment in fixed assets (net) (-€1,858)
- Receivables within one year -€10,469
down €10,469 (-41.5%), from €25,201 to €14,732
of which Trade receivables: -€14,810
- Reserves +€2,659
up €2,659 (+3.5%), from €75,247 to €77,905
- Trade debts -€1,485
down €1,485 (-42.5%), from €3,493 to €2,009
- Tax, wage and social debts -€1,113
down €1,113 (-11.2%), from €9,934 to €8,821
- Gross operating margin -€22,878
down €22,878 (-74.3%), from €30,798 to €7,920
- Taxes -€4,592
down €4,592 (-75.8%), from €6,060 to €1,468
- Other operating charges +€418
up €418 (+90.1%), from €464 to €883
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 | €93,891 | €94,981 | +€1,090 | +1.2% |
| Fixed assets | 21/28 | €1,638 | €2,548 | +€909 | +55.5% |
| Tangible fixed assets | 22/27 | €1,638 | €2,548 | +€909 | +55.5% |
| Furniture and vehicles | 24 | €1,638 | €2,548 | +€909 | +55.5% |
| Current assets | 29/58 | €92,253 | €92,434 | +€181 | +0.2% |
| Amounts receivable within one year | 40/41 | €25,201 | €14,732 | -€10,469 | -41.5% |
| Trade receivables | 40 | €25,010 | €10,200 | -€14,810 | -59.2% |
| Other amounts receivable | 41 | €191 | €4,532 | +€4,341 | +2,273% |
| Current investments | 50/53 | - | €33,000 | +€33,000 | |
| Cash at bank and in hand | 54/58 | €65,056 | €43,160 | -€21,897 | -33.7% |
| Deferred charges and accrued income | 490/1 | €1,995 | €1,542 | -€453 | -22.7% |
| Total equity and liabilities | 10/49 | €93,891 | €94,981 | +€1,090 | +1.2% |
| Equity | 10/15 | €77,747 | €80,405 | +€2,659 | +3.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €75,247 | €77,905 | +€2,659 | +3.5% |
| Distributable reserves | 133 | €75,247 | €77,905 | +€2,659 | +3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €16,145 | €14,576 | -€1,569 | -9.7% |
| Amounts payable within one year | 42/48 | €16,145 | €14,576 | -€1,569 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €125 | €764 | +€639 | +510% |
| Trade debts | 44 | €3,493 | €2,009 | -€1,485 | -42.5% |
| Suppliers | 440/4 | €3,493 | €2,009 | -€1,485 | -42.5% |
| Taxes, remuneration and social security | 45 | €9,934 | €8,821 | -€1,113 | -11.2% |
| Taxes | 450/3 | €9,934 | €8,821 | -€1,113 | -11.2% |
| Other amounts payable | 47/48 | €2,592 | €2,982 | +€390 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €770 | €949 | +€179 | +23.2% |
| Other operating charges | 640/8 | €464 | €883 | +€418 | +90.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €30,798 | €7,920 | -€22,878 | -74.3% |
| Operating profit (loss) | 9901 | €29,564 | €6,088 | -€23,475 | -79.4% |
| Financial income | 75/76B | €9 | €5 | -€4 | -46.2% |
| Recurring financial income | 75 | €9 | €5 | -€4 | -46.2% |
| Financial charges | 65/66B | €1,189 | €1,134 | -€55 | -4.6% |
| Recurring financial charges | 65 | €1,189 | €1,134 | -€55 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €28,384 | €4,960 | -€23,424 | -82.5% |
| Income taxes | 67/77 | €6,060 | €1,468 | -€4,592 | -75.8% |
| Profit (loss) for the period | 9904 | €22,324 | €3,492 | -€18,833 | -84.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,324 | €3,492 | -€18,833 | -84.4% |
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 24 October 2026 via checked.be.