ARSEN K: 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 K
Largest movements
- Receivables within one year -€17,719
down €17,719 (-33.6%), from €52,662 to €34,943
of which Trade receivables: -€12,507
- Stocks and contracts +€6,297
up €6,297 (+50.4%), from €12,504 to €18,801
- Tangible fixed assets -€4,809
down €4,809 (-80.9%), from €5,948 to €1,138
of which Furniture and vehicles: -€4,024
- Cash -€2,955
down €2,955 (-50.0%), from €5,909 to €2,955
mainly Trade debts (-€19,546) and Tax, wage and social debts (-€7,098)
- Trade debts -€19,546
down €19,546 (-77.6%), from €25,185 to €5,639
- Other debts +€9,056
new in 2025: €9,056
- Tax, wage and social debts -€7,098
down €7,098 (-34.6%), from €20,503 to €13,405
of which Taxes: -€6,641
- Profit (loss) carried forward -€1,598
down €1,598 (-11.2%), from €14,273 to €12,675
- Gross operating margin -€11,927
down €11,927 (-38.9%), from €30,671 to €18,744
- Depreciation -€2,300
down €2,300 (-74.5%), from €3,085 to €785
- Taxes -€1,984
no longer reported in 2025 (was €1,984)
- Staff costs +€652
up €652 (+3.8%), from €17,372 to €18,024
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 | €78,868 | €59,681 | -€19,187 | -24.3% |
| Fixed assets | 21/28 | €7,792 | €2,982 | -€4,809 | -61.7% |
| Tangible fixed assets | 22/27 | €5,948 | €1,138 | -€4,809 | -80.9% |
| Plant, machinery and equipment | 23 | €1,924 | €1,138 | -€785 | -40.8% |
| Furniture and vehicles | 24 | €4,024 | - | -€4,024 | |
| Financial fixed assets | 28 | €1,844 | €1,844 | = | 0.0% |
| Current assets | 29/58 | €71,076 | €56,699 | -€14,377 | -20.2% |
| Stocks and contracts in progress | 3 | €12,504 | €18,801 | +€6,297 | +50.4% |
| Stocks | 30/36 | €12,504 | €18,801 | +€6,297 | +50.4% |
| Amounts receivable within one year | 40/41 | €52,662 | €34,943 | -€17,719 | -33.6% |
| Trade receivables | 40 | €34,701 | €22,194 | -€12,507 | -36.0% |
| Other amounts receivable | 41 | €17,961 | €12,749 | -€5,212 | -29.0% |
| Cash at bank and in hand | 54/58 | €5,909 | €2,955 | -€2,955 | -50.0% |
| Total equity and liabilities | 10/49 | €78,868 | €59,681 | -€19,187 | -24.3% |
| Equity | 10/15 | €33,179 | €31,581 | -€1,598 | -4.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €306 | €306 | = | 0.0% |
| Non-distributable reserves | 130/1 | €306 | €306 | = | 0.0% |
| Reserves not available under the articles | 1311 | €306 | €306 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,273 | €12,675 | -€1,598 | -11.2% |
| Amounts payable | 17/49 | €45,689 | €28,100 | -€17,589 | -38.5% |
| Amounts payable within one year | 42/48 | €45,689 | €28,100 | -€17,589 | -38.5% |
| Trade debts | 44 | €25,185 | €5,639 | -€19,546 | -77.6% |
| Suppliers | 440/4 | €25,185 | €5,639 | -€19,546 | -77.6% |
| Taxes, remuneration and social security | 45 | €20,503 | €13,405 | -€7,098 | -34.6% |
| Taxes | 450/3 | €7,330 | €689 | -€6,641 | -90.6% |
| Remuneration and social security | 454/9 | €13,174 | €12,716 | -€457 | -3.5% |
| Other amounts payable | 47/48 | - | €9,056 | +€9,056 | |
| Non-recurring operating income | 76A | - | €5,067 | +€5,067 | |
| Remuneration, social security and pensions | 62 | €17,372 | €18,024 | +€652 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,085 | €785 | -€2,300 | -74.5% |
| Other operating charges | 640/8 | €5 | €115 | +€110 | +2,214% |
| Gross operating margin | 9900 | €30,671 | €18,744 | -€11,927 | -38.9% |
| Operating profit (loss) | 9901 | €10,209 | -€180 | -€10,389 | |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €1,336 | €1,426 | +€90 | +6.7% |
| Recurring financial charges | 65 | €1,336 | €1,426 | +€90 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €8,873 | -€1,598 | -€10,471 | |
| Income taxes | 67/77 | €1,984 | - | -€1,984 | |
| Profit (loss) for the period | 9904 | €6,889 | -€1,598 | -€8,487 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,889 | -€1,598 | -€8,487 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.