ARSIFRO: 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.
ARSIFRO
Largest movements
- Cash -€184,468
down €184,468 (-99.4%), from €185,512 to €1,044
mainly Trade debts (-€138,096) and Investment in fixed assets (net) (-€115,661)
- Receivables within one year -€166,773
down €166,773 (-100%), from €166,773 to €0
of which Other amounts receivable: -€98,133
- Tangible fixed assets +€109,841
up €109,841 (+42.2%), from €260,238 to €370,079
- Trade debts -€138,096
down €138,096 (-90.9%), from €151,855 to €13,760
- Other debts -€108,223
down €108,223 (-52.6%), from €205,574 to €97,351
- Profit (loss) carried forward +€7,862
up €7,862 (+53.5%), from €14,689 to €22,551
- Gross operating margin -€21,867
down €21,867 (-54.6%), from €40,058 to €18,191
- Depreciation -€7,195
down €7,195 (-55.3%), from €13,014 to €5,819
- Taxes -€3,891
down €3,891 (-63.7%), from €6,104 to €2,213
- Other operating charges +€426
up €426 (+23.3%), from €1,828 to €2,254
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 | €618,331 | €376,932 | -€241,399 | -39.0% |
| Fixed assets | 21/28 | €260,238 | €370,079 | +€109,841 | +42.2% |
| Tangible fixed assets | 22/27 | €260,238 | €370,079 | +€109,841 | +42.2% |
| Land and buildings | 22 | €260,238 | €370,079 | +€109,841 | +42.2% |
| Current assets | 29/58 | €358,093 | €6,853 | -€351,240 | -98.1% |
| Amounts receivable within one year | 40/41 | €166,773 | €0 | -€166,773 | -100% |
| Trade receivables | 40 | €68,640 | €0 | -€68,640 | -100% |
| Other amounts receivable | 41 | €98,133 | €0 | -€98,133 | -100% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €185,512 | €1,044 | -€184,468 | -99.4% |
| Deferred charges and accrued income | 490/1 | €5,809 | €5,809 | = | 0.0% |
| Total equity and liabilities | 10/49 | €618,331 | €376,932 | -€241,399 | -39.0% |
| Equity | 10/15 | €181,404 | €189,266 | +€7,862 | +4.3% |
| Contributions | 10/11 | €28,525 | €28,525 | = | 0.0% |
| Reserves | 13 | €138,190 | €138,190 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,853 | €2,853 | = | 0.0% |
| Other | 1319 | €2,853 | €2,853 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,769 | €5,769 | = | 0.0% |
| Distributable reserves | 133 | €129,569 | €129,569 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,689 | €22,551 | +€7,862 | +53.5% |
| Provisions and deferred taxes | 16 | €73,395 | €73,395 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €73,395 | €73,395 | = | 0.0% |
| Pensions and similar obligations | 160 | €73,395 | €73,395 | = | 0.0% |
| Amounts payable | 17/49 | €363,533 | €114,272 | -€249,261 | -68.6% |
| Amounts payable within one year | 42/48 | €363,533 | €114,272 | -€249,261 | -68.6% |
| Trade debts | 44 | €151,855 | €13,760 | -€138,096 | -90.9% |
| Suppliers | 440/4 | €151,855 | €13,760 | -€138,096 | -90.9% |
| Taxes, remuneration and social security | 45 | €6,104 | €3,161 | -€2,942 | -48.2% |
| Taxes | 450/3 | €6,104 | €3,161 | -€2,942 | -48.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €205,574 | €97,351 | -€108,223 | -52.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,014 | €5,819 | -€7,195 | -55.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,828 | €2,254 | +€426 | +23.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €40,058 | €18,191 | -€21,867 | -54.6% |
| Operating profit (loss) | 9901 | €25,215 | €10,117 | -€15,098 | -59.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €210 | €42 | -€168 | -80.0% |
| Recurring financial charges | 65 | €210 | €42 | -€168 | -80.0% |
| Profit (loss) for the period before taxes | 9903 | €25,005 | €10,075 | -€14,930 | -59.7% |
| Income taxes | 67/77 | €6,104 | €2,213 | -€3,891 | -63.7% |
| Profit (loss) for the period | 9904 | €18,901 | €7,862 | -€11,039 | -58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,901 | €7,862 | -€11,039 | -58.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.