arsiCO: what changed
Two fiscal 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.
arsiCO
Largest movements
- Receivables within one year -€52,934
down €52,934 (-92.2%), from €57,440 to €4,506
of which Other amounts receivable: -€38,505
- Current investments -€40,903
down €40,903 (-9.8%), from €416,226 to €375,323
- Tangible fixed assets +€40,226
up €40,226 (+388.7%), from €10,348 to €50,574
of which Furniture and vehicles: +€43,193
- Cash +€39,464
up €39,464 (+94.4%), from €41,792 to €81,256
mainly Net result for the year (+€64,941) and Receivables within one year (+€52,934)
- Tax, wage and social debts -€22,640
down €22,640 (-61.0%), from €37,138 to €14,498
- Reserves +€5,470
up €5,470 (+1.1%), from €477,481 to €482,951
- Gross operating margin -€48,332
down €48,332 (-35.2%), from €137,340 to €89,007
- Taxes -€20,697
down €20,697 (-49.7%), from €41,631 to €20,935
- Depreciation +€5,620
up €5,620 (+264.5%), from €2,125 to €7,745
- Financial income -€3,076
down €3,076 (-36.0%), from €8,551 to €5,475
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.
Cash bridge derived
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 | €528,703 | €514,764 | -€13,939 | -2.6% |
| Fixed assets | 21/28 | €10,348 | €50,574 | +€40,226 | +388.7% |
| Tangible fixed assets | 22/27 | €10,348 | €50,574 | +€40,226 | +388.7% |
| Furniture and vehicles | 24 | €306 | €43,498 | +€43,193 | +14121.2% |
| Other tangible fixed assets | 26 | €10,042 | €7,076 | -€2,966 | -29.5% |
| Current assets | 29/58 | €518,355 | €464,190 | -€54,165 | -10.4% |
| Amounts receivable within one year | 40/41 | €57,440 | €4,506 | -€52,934 | -92.2% |
| Trade receivables | 40 | €17,969 | €3,539 | -€14,429 | -80.3% |
| Other amounts receivable | 41 | €39,472 | €967 | -€38,505 | -97.6% |
| Current investments | 50/53 | €416,226 | €375,323 | -€40,903 | -9.8% |
| Cash at bank and in hand | 54/58 | €41,792 | €81,256 | +€39,464 | +94.4% |
| Deferred charges and accrued income | 490/1 | €2,897 | €3,104 | +€207 | +7.2% |
| Total equity and liabilities | 10/49 | €528,703 | €514,764 | -€13,939 | -2.6% |
| Equity | 10/15 | €489,881 | €495,351 | +€5,470 | +1.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €477,481 | €482,951 | +€5,470 | +1.1% |
| Distributable reserves | 133 | €477,481 | €482,951 | +€5,470 | +1.1% |
| Amounts payable | 17/49 | €38,822 | €19,413 | -€19,409 | -50.0% |
| Amounts payable within one year | 42/48 | €38,822 | €19,413 | -€19,409 | -50.0% |
| Trade debts | 44 | €1,684 | €1,309 | -€375 | -22.3% |
| Suppliers | 440/4 | €1,684 | €1,309 | -€375 | -22.3% |
| Taxes, remuneration and social security | 45 | €37,138 | €14,498 | -€22,640 | -61.0% |
| Taxes | 450/3 | €37,138 | €14,498 | -€22,640 | -61.0% |
| Other amounts payable | 47/48 | - | €3,606 | +€3,606 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,125 | €7,745 | +€5,620 | +264.5% |
| Other operating charges | 640/8 | €2,047 | €695 | -€1,352 | -66.0% |
| Gross operating margin | 9900 | €137,340 | €89,007 | -€48,332 | -35.2% |
| Operating profit (loss) | 9901 | €133,168 | €80,567 | -€52,601 | -39.5% |
| Financial income | 75/76B | €8,551 | €5,475 | -€3,076 | -36.0% |
| Recurring financial income | 75 | €8,551 | €5,475 | -€3,076 | -36.0% |
| Financial charges | 65/66B | €328 | €167 | -€161 | -49.2% |
| Recurring financial charges | 65 | €328 | €167 | -€161 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | €141,391 | €85,876 | -€55,515 | -39.3% |
| Income taxes | 67/77 | €41,631 | €20,935 | -€20,697 | -49.7% |
| Profit (loss) for the period | 9904 | €99,760 | €64,941 | -€34,819 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €99,760 | €64,941 | -€34,819 | -34.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.