ARSH: 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.
ARSH
Largest movements
- Receivables within one year +€6,881
up €6,881 (+51.2%), from €13,431 to €20,312
- Tangible fixed assets -€4,700
down €4,700 (-22.9%), from €20,500 to €15,800
- Trade debts +€1,855
up €1,855 (+186%), from €995 to €2,850
- Depreciation +€1,700
up €1,700 (+56.7%), from €3,000 to €4,700
- Purchases and services -€1,218
down €1,218 (-3.6%), from €33,980 to €32,762
- Gross operating margin +€952
up €952 (+16.9%), from €5,650 to €6,602
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 | €35,912 | €38,032 | +€2,121 | +5.9% |
| Fixed assets | 21/28 | €20,500 | €15,800 | -€4,700 | -22.9% |
| Tangible fixed assets | 22/27 | €20,500 | €15,800 | -€4,700 | -22.9% |
| Furniture and vehicles | 24 | €20,500 | €15,800 | -€4,700 | -22.9% |
| Current assets | 29/58 | €15,412 | €22,232 | +€6,821 | +44.3% |
| Amounts receivable within one year | 40/41 | €13,431 | €20,312 | +€6,881 | +51.2% |
| Other amounts receivable | 41 | €13,431 | €20,312 | +€6,881 | +51.2% |
| Cash at bank and in hand | 54/58 | €521 | €460 | -€61 | -11.6% |
| Deferred charges and accrued income | 490/1 | €1,460 | €1,460 | = | 0.0% |
| Total equity and liabilities | 10/49 | €35,912 | €38,032 | +€2,121 | +5.9% |
| Equity | 10/15 | €34,917 | €35,182 | +€266 | +0.8% |
| Contributions | 10/11 | €1,395 | €1,395 | = | 0.0% |
| Reserves | 13 | €2,116 | €2,116 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €256 | €256 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,406 | €31,672 | +€266 | +0.8% |
| Amounts payable | 17/49 | €995 | €2,850 | +€1,855 | +186% |
| Amounts payable within one year | 42/48 | €995 | €2,850 | +€1,855 | +186% |
| Trade debts | 44 | €995 | €2,850 | +€1,855 | +186% |
| Suppliers | 440/4 | €995 | €2,850 | +€1,855 | +186% |
| Turnover | 70 | €39,013 | €39,364 | +€351 | +0.9% |
| Non-recurring operating income | 76A | €616 | - | -€616 | |
| Goods, raw materials, services and sundry goods | 60/61 | €33,980 | €32,762 | -€1,218 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,000 | €4,700 | +€1,700 | +56.7% |
| Other operating charges | 640/8 | €1,582 | €1,316 | -€267 | -16.8% |
| Gross operating margin | 9900 | €5,650 | €6,602 | +€952 | +16.9% |
| Operating profit (loss) | 9901 | €1,067 | €586 | -€481 | -45.1% |
| Financial charges | 65/66B | €411 | €321 | -€90 | -22.0% |
| Recurring financial charges | 65 | €411 | €321 | -€90 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €657 | €266 | -€391 | -59.6% |
| Profit (loss) for the period | 9904 | €657 | €266 | -€391 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €657 | €266 | -€391 | -59.6% |
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 23 October 2026 via checked.be.