ARSIU: 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.
ARSIU
Largest movements
- Deferred charges and accrued income -€40,303
down €40,303 (-66.2%), from €60,910 to €20,607
- Cash -€25,901
down €25,901 (-65.5%), from €39,530 to €13,628
mainly Contributions, distributions and other (-€48,248) and Other debts (-€46,988)
- Receivables within one year +€12,574
up €12,574 (+195.2%), from €6,442 to €19,016
- Tangible fixed assets +€10,431
up €10,431 (+1533.0%), from €680 to €11,111
- Other debts -€46,988
down €46,988 (-53.4%), from €87,999 to €41,011
- Profit (loss) carried forward +€8,611
new in 2025: €8,611
- Tax, wage and social debts -€8,226
down €8,226 (-48.2%), from €17,064 to €8,837
- Trade debts +€2,046
new in 2025: €2,046
- Accrued charges and deferred income +€1,357
new in 2025: €1,357
- Gross operating margin -€44,073
down €44,073 (-37.0%), from €119,127 to €75,054
- Taxes -€10,271
down €10,271 (-40.2%), from €25,558 to €15,287
- Depreciation +€1,373
up €1,373 (+247.8%), from €554 to €1,927
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 | €107,562 | €64,362 | -€43,200 | -40.2% |
| Fixed assets | 21/28 | €680 | €11,111 | +€10,431 | +1533.0% |
| Tangible fixed assets | 22/27 | €680 | €11,111 | +€10,431 | +1533.0% |
| Furniture and vehicles | 24 | €680 | €11,111 | +€10,431 | +1533.0% |
| Current assets | 29/58 | €106,882 | €53,251 | -€53,631 | -50.2% |
| Amounts receivable within one year | 40/41 | €6,442 | €19,016 | +€12,574 | +195.2% |
| Other amounts receivable | 41 | €6,442 | €19,016 | +€12,574 | +195.2% |
| Cash at bank and in hand | 54/58 | €39,530 | €13,628 | -€25,901 | -65.5% |
| Deferred charges and accrued income | 490/1 | €60,910 | €20,607 | -€40,303 | -66.2% |
| Total equity and liabilities | 10/49 | €107,562 | €64,362 | -€43,200 | -40.2% |
| Equity | 10/15 | €2,500 | €11,111 | +€8,611 | +344.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €8,611 | +€8,611 | |
| Amounts payable | 17/49 | €105,062 | €53,251 | -€51,811 | -49.3% |
| Amounts payable within one year | 42/48 | €105,062 | €51,895 | -€53,168 | -50.6% |
| Trade debts | 44 | - | €2,046 | +€2,046 | |
| Suppliers | 440/4 | - | €2,046 | +€2,046 | |
| Taxes, remuneration and social security | 45 | €17,064 | €8,837 | -€8,226 | -48.2% |
| Taxes | 450/3 | €17,064 | €8,837 | -€8,226 | -48.2% |
| Other amounts payable | 47/48 | €87,999 | €41,011 | -€46,988 | -53.4% |
| Accrued charges and deferred income | 492/3 | - | €1,357 | +€1,357 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €554 | €1,927 | +€1,373 | +247.8% |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Gross operating margin | 9900 | €119,127 | €75,054 | -€44,073 | -37.0% |
| Operating profit (loss) | 9901 | €117,674 | €72,199 | -€45,475 | -38.6% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €362 | €53 | -€309 | -85.4% |
| Recurring financial charges | 65 | €362 | €53 | -€309 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €117,316 | €72,146 | -€45,170 | -38.5% |
| Income taxes | 67/77 | €25,558 | €15,287 | -€10,271 | -40.2% |
| Profit (loss) for the period | 9904 | €91,758 | €56,859 | -€34,899 | -38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €91,758 | €56,859 | -€34,899 | -38.0% |
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.