ARTHUGO: 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.
ARTHUGO
Largest movements
- Cash +€51,197
up €51,197 (+27.5%), from €185,886 to €237,084
mainly Other debts (+€74,177) and Net result for the year (+€69,636)
- Tangible fixed assets -€14,577
down €14,577 (-29.8%), from €48,983 to €34,406
- Receivables within one year +€12,159
up €12,159 (+3,800%), from €320 to €12,479
of which Other amounts receivable: +€11,238
- Receivables after one year +€9,498
new in 2025: €9,498
- Other debts +€74,177
up €74,177 (+6,454%), from €1,149 to €75,326
- Debts after one year -€10,111
down €10,111 (-36.3%), from €27,828 to €17,717
- Profit (loss) carried forward -€9,263
down €9,263 (-88.2%), from €10,499 to €1,236
- Tax, wage and social debts -€6,771
down €6,771 (-60.1%), from €11,271 to €4,500
of which Taxes: -€6,771
- Current portion of long-term debt +€6,664
up €6,664 (+49.1%), from €13,562 to €20,226
- Gross operating margin +€9,086
up €9,086 (+9.6%), from €94,340 to €103,426
- Taxes -€2,351
down €2,351 (-10.8%), from €21,850 to €19,499
- Financial income +€1,280
up €1,280 (+100%), from €1,274 to €2,554
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 | €236,779 | €294,527 | +€57,748 | +24.4% |
| Fixed assets | 21/28 | €49,033 | €34,456 | -€14,577 | -29.7% |
| Tangible fixed assets | 22/27 | €48,983 | €34,406 | -€14,577 | -29.8% |
| Furniture and vehicles | 24 | €48,983 | €34,406 | -€14,577 | -29.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €187,746 | €260,071 | +€72,325 | +38.5% |
| Amounts receivable after more than one year | 29 | - | €9,498 | +€9,498 | |
| Other amounts receivable | 291 | - | €9,498 | +€9,498 | |
| Amounts receivable within one year | 40/41 | €320 | €12,479 | +€12,159 | +3,800% |
| Trade receivables | 40 | - | €922 | +€922 | |
| Other amounts receivable | 41 | €320 | €11,558 | +€11,238 | +3,512% |
| Cash at bank and in hand | 54/58 | €185,886 | €237,084 | +€51,197 | +27.5% |
| Deferred charges and accrued income | 490/1 | €1,540 | €1,010 | -€530 | -34.4% |
| Total equity and liabilities | 10/49 | €236,779 | €294,527 | +€57,748 | +24.4% |
| Equity | 10/15 | €177,774 | €173,011 | -€4,763 | -2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,675 | €153,175 | +€4,500 | +3.0% |
| Non-distributable reserves | 130/1 | €4,073 | €4,073 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,073 | €4,073 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,663 | €16,663 | = | 0.0% |
| Distributable reserves | 133 | €127,939 | €132,439 | +€4,500 | +3.5% |
| Profit (loss) carried forward | 14 | €10,499 | €1,236 | -€9,263 | -88.2% |
| Amounts payable | 17/49 | €59,005 | €121,516 | +€62,511 | +106% |
| Amounts payable after more than one year | 17 | €27,828 | €17,717 | -€10,111 | -36.3% |
| Financial debts | 170/4 | €27,828 | €17,717 | -€10,111 | -36.3% |
| Amounts payable within one year | 42/48 | €31,177 | €103,799 | +€72,622 | +233% |
| Current portion of amounts payable after more than one year | 42 | €13,562 | €20,226 | +€6,664 | +49.1% |
| Trade debts | 44 | €5,194 | €3,747 | -€1,447 | -27.9% |
| Suppliers | 440/4 | €5,194 | €3,747 | -€1,447 | -27.9% |
| Taxes, remuneration and social security | 45 | €11,271 | €4,500 | -€6,771 | -60.1% |
| Taxes | 450/3 | €6,771 | - | -€6,771 | |
| Remuneration and social security | 454/9 | €4,500 | €4,500 | = | 0.0% |
| Other amounts payable | 47/48 | €1,149 | €75,326 | +€74,177 | +6,454% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,111 | €14,577 | -€534 | -3.5% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €94,340 | €103,426 | +€9,086 | +9.6% |
| Operating profit (loss) | 9901 | €78,844 | €88,462 | +€9,617 | +12.2% |
| Financial income | 75/76B | €1,274 | €2,554 | +€1,280 | +100% |
| Recurring financial income | 75 | €1,274 | €2,554 | +€1,280 | +100% |
| Financial charges | 65/66B | €2,268 | €1,881 | -€387 | -17.1% |
| Recurring financial charges | 65 | €2,268 | €1,881 | -€387 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €77,851 | €89,135 | +€11,284 | +14.5% |
| Income taxes | 67/77 | €21,850 | €19,499 | -€2,351 | -10.8% |
| Profit (loss) for the period | 9904 | €56,001 | €69,636 | +€13,635 | +24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €56,001 | €69,636 | +€13,635 | +24.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.