ARTHIBAU: 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.
ARTHIBAU
Largest movements
- Receivables after one year -€43,311
down €43,311 (-43.3%), from €99,980 to €56,669
- Cash +€34,512
up €34,512 (+20.9%), from €164,959 to €199,471
mainly Net result for the year (+€108,370) and Receivables after one year (+€43,311)
- Current investments +€32,000
new in 2025: €32,000
- Tangible fixed assets -€22,613
down €22,613 (-19.7%), from €114,875 to €92,263
- Reserves -€23,001
down €23,001 (-4.0%), from €577,798 to €554,797
of which Distributable reserves: -€23,001
- Trade debts +€20,892
up €20,892 (+354%), from €5,903 to €26,795
- Tax, wage and social debts +€16,847
up €16,847 (+473%), from €3,565 to €20,412
of which Taxes: +€15,647
- Other debts -€9,842
down €9,842 (-18.3%), from €53,794 to €43,953
- Gross operating margin -€21,189
down €21,189 (-10.5%), from €200,916 to €179,727
- Depreciation -€11,519
down €11,519 (-28.4%), from €40,625 to €29,106
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 | €698,703 | €697,495 | -€1,208 | -0.2% |
| Fixed assets | 21/28 | €399,606 | €376,994 | -€22,613 | -5.7% |
| Tangible fixed assets | 22/27 | €114,875 | €92,263 | -€22,613 | -19.7% |
| Land and buildings | 22 | €8,968 | €4,286 | -€4,681 | -52.2% |
| Furniture and vehicles | 24 | €21,536 | €10,403 | -€11,132 | -51.7% |
| Other tangible fixed assets | 26 | €84,372 | €77,573 | -€6,799 | -8.1% |
| Financial fixed assets | 28 | €284,731 | €284,731 | = | 0.0% |
| Current assets | 29/58 | €299,096 | €320,501 | +€21,405 | +7.2% |
| Amounts receivable after more than one year | 29 | €99,980 | €56,669 | -€43,311 | -43.3% |
| Other amounts receivable | 291 | €99,980 | €56,669 | -€43,311 | -43.3% |
| Amounts receivable within one year | 40/41 | €31,275 | €30,627 | -€648 | -2.1% |
| Trade receivables | 40 | €23,166 | €30,559 | +€7,393 | +31.9% |
| Other amounts receivable | 41 | €8,109 | €68 | -€8,040 | -99.2% |
| Current investments | 50/53 | - | €32,000 | +€32,000 | |
| Cash at bank and in hand | 54/58 | €164,959 | €199,471 | +€34,512 | +20.9% |
| Deferred charges and accrued income | 490/1 | €2,882 | €1,734 | -€1,148 | -39.8% |
| Total equity and liabilities | 10/49 | €698,703 | €697,495 | -€1,208 | -0.2% |
| Equity | 10/15 | €596,398 | €573,397 | -€23,001 | -3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €577,798 | €554,797 | -€23,001 | -4.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €79 | €79 | = | 0.0% |
| Distributable reserves | 133 | €575,859 | €552,858 | -€23,001 | -4.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €102,304 | €124,097 | +€21,793 | +21.3% |
| Amounts payable after more than one year | 17 | €32,938 | €28,011 | -€4,927 | -15.0% |
| Financial debts | 170/4 | €32,938 | €28,011 | -€4,927 | -15.0% |
| Amounts payable within one year | 42/48 | €69,366 | €96,086 | +€26,721 | +38.5% |
| Current portion of amounts payable after more than one year | 42 | €6,103 | €4,927 | -€1,176 | -19.3% |
| Trade debts | 44 | €5,903 | €26,795 | +€20,892 | +354% |
| Suppliers | 440/4 | €5,903 | €26,795 | +€20,892 | +354% |
| Taxes, remuneration and social security | 45 | €3,565 | €20,412 | +€16,847 | +473% |
| Taxes | 450/3 | €2,439 | €18,086 | +€15,647 | +642% |
| Remuneration and social security | 454/9 | €1,126 | €2,326 | +€1,200 | +107% |
| Other amounts payable | 47/48 | €53,794 | €43,953 | -€9,842 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,625 | €29,106 | -€11,519 | -28.4% |
| Other operating charges | 640/8 | €1,471 | €2,052 | +€582 | +39.5% |
| Gross operating margin | 9900 | €200,916 | €179,727 | -€21,189 | -10.5% |
| Operating profit (loss) | 9901 | €158,821 | €148,569 | -€10,252 | -6.5% |
| Financial income | 75/76B | €2,665 | €2,072 | -€593 | -22.2% |
| Recurring financial income | 75 | €2,665 | €2,072 | -€593 | -22.2% |
| Financial charges | 65/66B | €1,564 | €159 | -€1,405 | -89.8% |
| Recurring financial charges | 65 | €1,564 | €159 | -€1,405 | -89.8% |
| Profit (loss) for the period before taxes | 9903 | €159,922 | €150,482 | -€9,439 | -5.9% |
| Income taxes | 67/77 | €42,362 | €42,113 | -€250 | -0.6% |
| Profit (loss) for the period | 9904 | €117,560 | €108,370 | -€9,190 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €117,560 | €108,370 | -€9,190 | -7.8% |
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 20 October 2026 via checked.be.