ARSENAL BUILDING: 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.
ARSENAL BUILDING
Largest movements
- Current investments +€291,525
up €291,525 (+100%), from €291,060 to €582,585
- Cash -€281,451
down €281,451 (-79.1%), from €355,736 to €74,285
mainly Debts after one year (-€3.1m) and Accrued charges and deferred income (-€297,147)
- Tangible fixed assets -€192,116
down €192,116 (-2.4%), from €7.9m to €7.7m
- Debts after one year -€3.1m
down €3.1m (-34.8%), from €9.0m to €5.9m
- Current portion of long-term debt +€2.7m
up €2.7m (+685%), from €400,000 to €3.1m
- Profit (loss) carried forward +€322,210
up €322,210 (+14.5%), from -€2.2m to -€1.9m
- Accrued charges and deferred income -€297,147
down €297,147 (-91.9%), from €323,349 to €26,202
- Trade debts +€190,302
up €190,302 (+168%), from €113,132 to €303,434
- Turnover +€75,531
up €75,531 (+8.5%), from €885,452 to €960,983
- Financial charges -€19,622
down €19,622 (-5.9%), from €331,093 to €311,470
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 | €8,639,082 | €8,454,447 | -€184,635 | -2.1% |
| Fixed assets | 21/28 | €7,928,294 | €7,736,178 | -€192,116 | -2.4% |
| Tangible fixed assets | 22/27 | €7,928,294 | €7,736,178 | -€192,116 | -2.4% |
| Land and buildings | 22 | €7,928,294 | €7,736,178 | -€192,116 | -2.4% |
| Current assets | 29/58 | €710,787 | €718,269 | +€7,481 | +1.1% |
| Amounts receivable within one year | 40/41 | €12,683 | €15,160 | +€2,477 | +19.5% |
| Trade receivables | 40 | €5,514 | €5,283 | -€231 | -4.2% |
| Other amounts receivable | 41 | €7,169 | €9,877 | +€2,708 | +37.8% |
| Current investments | 50/53 | €291,060 | €582,585 | +€291,525 | +100% |
| Other investments | 51/53 | €291,060 | €582,585 | +€291,525 | +100% |
| Cash at bank and in hand | 54/58 | €355,736 | €74,285 | -€281,451 | -79.1% |
| Deferred charges and accrued income | 490/1 | €51,308 | €46,239 | -€5,070 | -9.9% |
| Total equity and liabilities | 10/49 | €8,639,082 | €8,454,447 | -€184,635 | -2.1% |
| Equity | 10/15 | -€1,218,450 | -€896,241 | +€322,210 | +26.4% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,218,450 | -€1,896,241 | +€322,210 | +14.5% |
| Amounts payable | 17/49 | €9,857,532 | €9,350,688 | -€506,845 | -5.1% |
| Amounts payable after more than one year | 17 | €9,021,052 | €5,881,052 | -€3.1m | -34.8% |
| Financial debts | 170/4 | €9,021,052 | €5,881,052 | -€3.1m | -34.8% |
| Subordinated loans | 170 | €5,381,052 | €5,381,052 | = | 0.0% |
| Credit institutions | 173 | €3,640,000 | €500,000 | -€3.1m | -86.3% |
| Amounts payable within one year | 42/48 | €513,132 | €3,443,434 | +€2.9m | +571% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €3,140,000 | +€2.7m | +685% |
| Trade debts | 44 | €113,132 | €303,434 | +€190,302 | +168% |
| Suppliers | 440/4 | €113,132 | €303,434 | +€190,302 | +168% |
| Accrued charges and deferred income | 492/3 | €323,349 | €26,202 | -€297,147 | -91.9% |
| Operating income | 70/76A | €928,597 | €1,005,482 | +€76,885 | +8.3% |
| Turnover | 70 | €885,452 | €960,983 | +€75,531 | +8.5% |
| Other operating income | 74 | €43,146 | €44,500 | +€1,354 | +3.1% |
| Operating charges | 60/66A | €382,658 | €387,916 | +€5,258 | +1.4% |
| Services and other goods | 61 | €8,966 | €8,869 | -€97 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €260,052 | €261,848 | +€1,796 | +0.7% |
| Other operating charges | 640/8 | €113,639 | €117,199 | +€3,559 | +3.1% |
| Operating profit (loss) | 9901 | €545,940 | €617,567 | +€71,627 | +13.1% |
| Financial income | 75/76B | €16,883 | €16,113 | -€769 | -4.6% |
| Recurring financial income | 75 | €16,883 | €16,113 | -€769 | -4.6% |
| Income from current assets | 751 | €16,850 | €16,095 | -€755 | -4.5% |
| Other financial income | 752/9 | €32 | €18 | -€14 | -43.7% |
| Financial charges | 65/66B | €331,093 | €311,470 | -€19,622 | -5.9% |
| Recurring financial charges | 65 | €331,093 | €311,470 | -€19,622 | -5.9% |
| Debt charges | 650 | €322,031 | €316,799 | -€5,232 | -1.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €7,685 | -€6,525 | -€14,210 | |
| Other financial charges | 652/9 | €1,377 | €1,196 | -€181 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €231,730 | €322,210 | +€90,480 | +39.0% |
| Profit (loss) for the period | 9904 | €231,730 | €322,210 | +€90,480 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €231,730 | €322,210 | +€90,480 | +39.0% |
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 25 October 2026 via checked.be.