ARSTLINE: 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.
ARSTLINE
Largest movements
- Receivables within one year -€796,785
down €796,785 (-96.6%), from €824,958 to €28,173
of which Trade receivables: -€801,120
- Stocks and contracts -€503,012
down €503,012 (-22.1%), from €2.3m to €1.8m
- Cash +€118,219
up €118,219 (+189.0%), from €62,546 to €180,765
mainly Receivables within one year (+€796,785) and Stocks and contracts (+€503,012)
- Current portion of long-term debt -€908,931
down €908,931 (-42.0%), from €2.2m to €1.3m
- Other debts -€311,987
down €311,987 (-48.9%), from €638,512 to €326,525
- Profit (loss) carried forward +€269,616
up €269,616, from -€89,303 to €180,313
- Accrued charges and deferred income -€125,671
down €125,671 (-80.9%), from €155,264 to €29,593
- Debts after one year -€104,897
down €104,897 (-19.1%), from €549,927 to €445,030
- Gross operating margin +€98,935
up €98,935 (+35.6%), from €278,252 to €377,187
- Financial charges -€69,707
down €69,707 (-40.0%), from €174,091 to €104,384
- Financial income -€20,801
down €20,801 (-84.4%), from €24,633 to €3,832
- Depreciation -€6,789
down €6,789 (-60.9%), from €11,144 to €4,356
- Other operating charges -€4,188
down €4,188 (-70.2%), from €5,964 to €1,776
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 | €3,463,020 | €2,278,966 | -€1.2m | -34.2% |
| Fixed assets | 21/28 | €294,658 | €292,162 | -€2,497 | -0.8% |
| Tangible fixed assets | 22/27 | €28,766 | €26,269 | -€2,497 | -8.7% |
| Land and buildings | 22 | €22,161 | €20,702 | -€1,459 | -6.6% |
| Furniture and vehicles | 24 | €3,805 | €2,767 | -€1,038 | -27.3% |
| Other tangible fixed assets | 26 | €2,800 | €2,800 | = | 0.0% |
| Financial fixed assets | 28 | €265,892 | €265,892 | = | 0.0% |
| Current assets | 29/58 | €3,168,362 | €1,986,805 | -€1.2m | -37.3% |
| Stocks and contracts in progress | 3 | €2,280,345 | €1,777,333 | -€503,012 | -22.1% |
| Stocks | 30/36 | €2,280,345 | €1,777,333 | -€503,012 | -22.1% |
| Amounts receivable within one year | 40/41 | €824,958 | €28,173 | -€796,785 | -96.6% |
| Trade receivables | 40 | €821,963 | €20,843 | -€801,120 | -97.5% |
| Other amounts receivable | 41 | €2,995 | €7,330 | +€4,335 | +144.7% |
| Cash at bank and in hand | 54/58 | €62,546 | €180,765 | +€118,219 | +189.0% |
| Deferred charges and accrued income | 490/1 | €513 | €534 | +€21 | +4.1% |
| Total equity and liabilities | 10/49 | €3,463,020 | €2,278,966 | -€1.2m | -34.2% |
| Equity | 10/15 | -€68,843 | €200,773 | +€269,616 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,303 | €180,313 | +€269,616 | |
| Amounts payable | 17/49 | €3,531,863 | €2,078,193 | -€1.5m | -41.2% |
| Amounts payable after more than one year | 17 | €549,927 | €445,030 | -€104,897 | -19.1% |
| Financial debts | 170/4 | €549,927 | €445,030 | -€104,897 | -19.1% |
| Amounts payable within one year | 42/48 | €2,826,672 | €1,603,570 | -€1.2m | -43.3% |
| Current portion of amounts payable after more than one year | 42 | €2,161,887 | €1,252,956 | -€908,931 | -42.0% |
| Trade debts | 44 | €9,279 | €18,958 | +€9,679 | +104.3% |
| Suppliers | 440/4 | €9,279 | €18,958 | +€9,679 | +104.3% |
| Taxes, remuneration and social security | 45 | €16,994 | €5,131 | -€11,863 | -69.8% |
| Taxes | 450/3 | €12,437 | €535 | -€11,902 | -95.7% |
| Remuneration and social security | 454/9 | €4,558 | €4,596 | +€38 | +0.8% |
| Other amounts payable | 47/48 | €638,512 | €326,525 | -€311,987 | -48.9% |
| Accrued charges and deferred income | 492/3 | €155,264 | €29,593 | -€125,671 | -80.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,144 | €4,356 | -€6,789 | -60.9% |
| Other operating charges | 640/8 | €5,964 | €1,776 | -€4,188 | -70.2% |
| Gross operating margin | 9900 | €278,252 | €377,187 | +€98,935 | +35.6% |
| Operating profit (loss) | 9901 | €261,144 | €371,056 | +€109,911 | +42.1% |
| Financial income | 75/76B | €24,633 | €3,832 | -€20,801 | -84.4% |
| Recurring financial income | 75 | €24,633 | €3,832 | -€20,801 | -84.4% |
| Financial charges | 65/66B | €174,091 | €104,384 | -€69,707 | -40.0% |
| Recurring financial charges | 65 | €174,091 | €104,384 | -€69,707 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €111,686 | €270,503 | +€158,817 | +142.2% |
| Income taxes | 67/77 | €685 | €888 | +€203 | +29.6% |
| Profit (loss) for the period | 9904 | €111,002 | €269,616 | +€158,614 | +142.9% |
| Profit (loss) for the period to be appropriated | 9905 | €111,002 | €269,616 | +€158,614 | +142.9% |
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 4 October 2026 via checked.be.