ARTHUR BEYLS: 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.
ARTHUR BEYLS
Largest movements
- Receivables within one year +€80,335
up €80,335 (+127%), from €63,469 to €143,804
of which Trade receivables: +€80,981
- Cash +€15,215
up €15,215 (+72.0%), from €21,128 to €36,343
mainly Net result for the year (+€62,195) and Trade debts (+€41,950)
- Stocks and contracts +€10,863
up €10,863 (+4.5%), from €240,070 to €250,933
- Reserves +€62,195
up €62,195 (+38.7%), from €160,820 to €223,016
- Trade debts +€41,950
up €41,950 (+72.8%), from €57,598 to €99,547
- Taxes -€20,087
down €20,087 (-55.4%), from €36,274 to €16,187
- Gross operating margin -€16,352
down €16,352 (-12.4%), from €132,043 to €115,691
- Staff costs +€14,559
new in 2025: €14,559
- Depreciation +€3,941
up €3,941 (+37.6%), from €10,471 to €14,413
- Financial income +€3,655
up €3,655 (+278%), from €1,317 to €4,971
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 | €376,906 | €487,516 | +€110,610 | +29.3% |
| Fixed assets | 21/28 | €52,238 | €56,436 | +€4,197 | +8.0% |
| Tangible fixed assets | 22/27 | €52,238 | €56,436 | +€4,197 | +8.0% |
| Land and buildings | 22 | €568 | €648 | +€79 | +14.0% |
| Plant, machinery and equipment | 23 | €40,231 | €43,350 | +€3,119 | +7.8% |
| Furniture and vehicles | 24 | €11,439 | €12,438 | +€999 | +8.7% |
| Current assets | 29/58 | €324,668 | €431,080 | +€106,413 | +32.8% |
| Stocks and contracts in progress | 3 | €240,070 | €250,933 | +€10,863 | +4.5% |
| Stocks | 30/36 | €240,070 | €250,933 | +€10,863 | +4.5% |
| Amounts receivable within one year | 40/41 | €63,469 | €143,804 | +€80,335 | +127% |
| Trade receivables | 40 | €59,010 | €139,991 | +€80,981 | +137% |
| Other amounts receivable | 41 | €4,460 | €3,813 | -€646 | -14.5% |
| Cash at bank and in hand | 54/58 | €21,128 | €36,343 | +€15,215 | +72.0% |
| Total equity and liabilities | 10/49 | €376,906 | €487,516 | +€110,610 | +29.3% |
| Equity | 10/15 | €163,320 | €225,516 | +€62,195 | +38.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €160,820 | €223,016 | +€62,195 | +38.7% |
| Distributable reserves | 133 | €160,820 | €223,016 | +€62,195 | +38.7% |
| Amounts payable | 17/49 | €213,585 | €262,001 | +€48,415 | +22.7% |
| Amounts payable after more than one year | 17 | €60,000 | €60,000 | = | 0.0% |
| Financial debts | 170/4 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €151,131 | €195,515 | +€44,384 | +29.4% |
| Trade debts | 44 | €57,598 | €99,547 | +€41,950 | +72.8% |
| Suppliers | 440/4 | €57,598 | €99,547 | +€41,950 | +72.8% |
| Taxes, remuneration and social security | 45 | €16,274 | €18,295 | +€2,021 | +12.4% |
| Taxes | 450/3 | €16,274 | €15,482 | -€792 | -4.9% |
| Remuneration and social security | 454/9 | - | €2,813 | +€2,813 | |
| Other amounts payable | 47/48 | €77,260 | €77,673 | +€413 | +0.5% |
| Accrued charges and deferred income | 492/3 | €2,454 | €6,486 | +€4,032 | +164% |
| Non-recurring operating income | 76A | €11,614 | €153 | -€11,461 | -98.7% |
| Remuneration, social security and pensions | 62 | - | €14,559 | +€14,559 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,471 | €14,413 | +€3,941 | +37.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €194 | €215 | +€21 | +10.9% |
| Other operating charges | 640/8 | €1,051 | €877 | -€174 | -16.5% |
| Non-recurring operating charges | 66A | €2,521 | €2,574 | +€54 | +2.1% |
| Gross operating margin | 9900 | €132,043 | €115,691 | -€16,352 | -12.4% |
| Operating profit (loss) | 9901 | €117,806 | €83,054 | -€34,753 | -29.5% |
| Financial income | 75/76B | €1,317 | €4,971 | +€3,655 | +278% |
| Recurring financial income | 75 | €1,317 | €4,971 | +€3,655 | +278% |
| Financial charges | 65/66B | €6,029 | €9,643 | +€3,614 | +59.9% |
| Recurring financial charges | 65 | €6,029 | €9,643 | +€3,614 | +59.9% |
| Profit (loss) for the period before taxes | 9903 | €113,093 | €78,382 | -€34,711 | -30.7% |
| Income taxes | 67/77 | €36,274 | €16,187 | -€20,087 | -55.4% |
| Profit (loss) for the period | 9904 | €76,820 | €62,195 | -€14,625 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €76,820 | €62,195 | -€14,625 | -19.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.