ARSEN: 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.
ARSEN
Largest movements
- Receivables within one year +€332,683
up €332,683 (+272%), from €122,526 to €455,209
of which Trade receivables: +€266,491
- Cash +€101,863
up €101,863 (+5,327%), from €1,912 to €103,776
mainly Trade debts (+€330,052) and Net result for the year (+€119,323)
- Tangible fixed assets +€38,097
up €38,097 (+68.8%), from €55,374 to €93,471
of which Furniture and vehicles: +€25,741
- Deferred charges and accrued income -€8,193
no longer reported in 2024 (was €8,193)
- Trade debts +€330,052
up €330,052 (+1,265%), from €26,088 to €356,141
- Profit (loss) carried forward +€119,323
up €119,323 (+100%), from €119,243 to €238,566
- Other debts +€30,595
up €30,595 (+150%), from €20,335 to €50,930
- Current portion of long-term debt -€14,085
no longer reported in 2024 (was €14,085)
- Turnover +€3.1m
up €3.1m (+284%), from €1.1m to €4.1m
- Purchases and services +€2.9m
up €2.9m (+272%), from €1.1m to €4.0m
- Gross operating margin +€145,103
up €145,103 (+466%), from €31,139 to €176,242
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 | €195,446 | €659,896 | +€464,450 | +238% |
| Fixed assets | 21/28 | €62,814 | €100,911 | +€38,097 | +60.6% |
| Tangible fixed assets | 22/27 | €55,374 | €93,471 | +€38,097 | +68.8% |
| Plant, machinery and equipment | 23 | €12,196 | €24,552 | +€12,356 | +101% |
| Furniture and vehicles | 24 | €43,178 | €68,919 | +€25,741 | +59.6% |
| Financial fixed assets | 28 | €7,440 | €7,440 | = | 0.0% |
| Current assets | 29/58 | €132,632 | €558,985 | +€426,353 | +321% |
| Amounts receivable within one year | 40/41 | €122,526 | €455,209 | +€332,683 | +272% |
| Trade receivables | 40 | €90,186 | €356,677 | +€266,491 | +295% |
| Other amounts receivable | 41 | €32,341 | €98,533 | +€66,192 | +205% |
| Cash at bank and in hand | 54/58 | €1,912 | €103,776 | +€101,863 | +5,327% |
| Deferred charges and accrued income | 490/1 | €8,193 | - | -€8,193 | |
| Total equity and liabilities | 10/49 | €195,446 | €659,896 | +€464,450 | +238% |
| Equity | 10/15 | €132,303 | €251,626 | +€119,323 | +90.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,860 | €6,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,243 | €238,566 | +€119,323 | +100% |
| Amounts payable | 17/49 | €63,144 | €408,270 | +€345,127 | +547% |
| Amounts payable within one year | 42/48 | €63,144 | €408,270 | +€345,127 | +547% |
| Current portion of amounts payable after more than one year | 42 | €14,085 | - | -€14,085 | |
| Trade debts | 44 | €26,088 | €356,141 | +€330,052 | +1,265% |
| Suppliers | 440/4 | €26,088 | €356,141 | +€330,052 | +1,265% |
| Taxes, remuneration and social security | 45 | €2,636 | €1,200 | -€1,436 | -54.5% |
| Taxes | 450/3 | €2,636 | €1,200 | -€1,436 | -54.5% |
| Other amounts payable | 47/48 | €20,335 | €50,930 | +€30,595 | +150% |
| Turnover | 70 | €1,075,478 | €4,131,993 | +€3.1m | +284% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,066,125 | €3,970,156 | +€2.9m | +272% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,211 | €15,223 | +€13 | +0.1% |
| Other operating charges | 640/8 | €2,556 | €2,507 | -€50 | -1.9% |
| Gross operating margin | 9900 | €31,139 | €176,242 | +€145,103 | +466% |
| Operating profit (loss) | 9901 | €13,372 | €158,511 | +€145,140 | +1,085% |
| Financial income | 75/76B | €1 | €17 | +€16 | +1,485% |
| Recurring financial income | 75 | €1 | €17 | +€16 | +1,485% |
| Financial charges | 65/66B | €2,250 | €4,768 | +€2,517 | +112% |
| Recurring financial charges | 65 | €2,250 | €4,768 | +€2,517 | +112% |
| Profit (loss) for the period before taxes | 9903 | €11,123 | €153,761 | +€142,638 | +1,282% |
| Income taxes | 67/77 | €3,053 | €34,438 | +€31,384 | +1,028% |
| Profit (loss) for the period | 9904 | €8,069 | €119,323 | +€111,254 | +1,379% |
| Profit (loss) for the period to be appropriated | 9905 | €8,069 | €119,323 | +€111,254 | +1,379% |
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 13 October 2026 via checked.be.