ARSEMI: 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.
ARSEMI
Largest movements
- Tangible fixed assets -€16,087
down €16,087 (-8.1%), from €199,298 to €183,211
of which Land and buildings: -€12,773
- Receivables within one year +€7,784
up €7,784 (+208%), from €3,743 to €11,527
of which Other amounts receivable: +€9,027
- Reserves -€16,000
down €16,000 (-16.9%), from €94,546 to €78,546
of which Distributable reserves: -€16,000
- Other debts +€16,000
new in 2024: €16,000
- Profit (loss) carried forward -€6,841
down €6,841 (-22.2%), from -€30,773 to -€37,614
- Debts after one year -€4,555
no longer reported in 2024 (was €4,555)
- Gross operating margin -€9,224
down €9,224 (-33.4%), from €27,604 to €18,380
- Depreciation -€2,049
down €2,049 (-11.3%), from €18,136 to €16,087
- Other operating charges +€1,427
up €1,427 (+18.6%), from €7,659 to €9,087
- Financial income +€799
new in 2024: €799
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €206,797 | €196,883 | -€9,915 | -4.8% |
| Fixed assets | 21/28 | €200,988 | €184,901 | -€16,087 | -8.0% |
| Tangible fixed assets | 22/27 | €199,298 | €183,211 | -€16,087 | -8.1% |
| Land and buildings | 22 | €170,866 | €158,093 | -€12,773 | -7.5% |
| Plant, machinery and equipment | 23 | €28,432 | €25,118 | -€3,314 | -11.7% |
| Financial fixed assets | 28 | €1,691 | €1,691 | = | 0.0% |
| Current assets | 29/58 | €5,809 | €11,982 | +€6,172 | +106% |
| Amounts receivable within one year | 40/41 | €3,743 | €11,527 | +€7,784 | +208% |
| Trade receivables | 40 | €3,743 | €2,500 | -€1,243 | -33.2% |
| Other amounts receivable | 41 | - | €9,027 | +€9,027 | |
| Cash at bank and in hand | 54/58 | €2,066 | €41 | -€2,024 | -98.0% |
| Deferred charges and accrued income | 490/1 | - | €413 | +€413 | |
| Total equity and liabilities | 10/49 | €206,797 | €196,883 | -€9,915 | -4.8% |
| Equity | 10/15 | €201,169 | €178,328 | -€22,841 | -11.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €75,396 | €75,396 | = | 0.0% |
| Reserves | 13 | €94,546 | €78,546 | -€16,000 | -16.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €69,596 | €53,596 | -€16,000 | -23.0% |
| Profit (loss) carried forward | 14 | -€30,773 | -€37,614 | -€6,841 | -22.2% |
| Amounts payable | 17/49 | €5,629 | €18,555 | +€12,926 | +230% |
| Amounts payable after more than one year | 17 | €4,555 | - | -€4,555 | |
| Other amounts payable | 178/9 | €4,555 | - | -€4,555 | |
| Amounts payable within one year | 42/48 | €1,074 | €18,555 | +€17,481 | +1,628% |
| Financial debts | 43 | - | €11 | +€11 | |
| Credit institutions | 430/8 | - | €11 | +€11 | |
| Trade debts | 44 | €1,074 | €2,543 | +€1,470 | +137% |
| Suppliers | 440/4 | €1,074 | €2,543 | +€1,470 | +137% |
| Other amounts payable | 47/48 | - | €16,000 | +€16,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,136 | €16,087 | -€2,049 | -11.3% |
| Other operating charges | 640/8 | €7,659 | €9,087 | +€1,427 | +18.6% |
| Gross operating margin | 9900 | €27,604 | €18,380 | -€9,224 | -33.4% |
| Operating profit (loss) | 9901 | €1,808 | -€6,794 | -€8,602 | |
| Financial income | 75/76B | - | €799 | +€799 | |
| Recurring financial income | 75 | - | €799 | +€799 | |
| Financial charges | 65/66B | €1,013 | €846 | -€167 | -16.5% |
| Recurring financial charges | 65 | €1,013 | €846 | -€167 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €796 | -€6,841 | -€7,637 | |
| Profit (loss) for the period | 9904 | €796 | -€6,841 | -€7,637 | |
| Profit (loss) for the period to be appropriated | 9905 | €796 | -€6,841 | -€7,637 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.