Arthur Claesen: 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 Claesen
Largest movements
- Receivables within one year +€32,157
up €32,157 (+73.2%), from €43,901 to €76,058
of which Other amounts receivable: +€26,441
- Cash -€2,023
down €2,023 (-11.9%), from €17,010 to €14,988
mainly Receivables within one year (-€32,157) and Contributions, distributions and other (-€3,500)
- Tangible fixed assets +€1,210
up €1,210 (+35.3%), from €3,427 to €4,637
- Profit (loss) carried forward +€14,718
up €14,718 (+42.1%), from €34,923 to €49,640
- Current portion of long-term debt +€8,351
new in 2025: €8,351
- Trade debts +€4,835
up €4,835 (+57.4%), from €8,427 to €13,262
- Other debts +€3,500
new in 2025: €3,500
- Gross operating margin -€25,094
down €25,094 (-50.5%), from €49,642 to €24,549
- Taxes -€8,556
down €8,556 (-62.4%), from €13,702 to €5,146
- Financial income +€1,382
up €1,382 (+130%), from €1,063 to €2,446
- Financial charges +€877
up €877 (+952%), from €92 to €969
- Depreciation +€508
up €508 (+34.4%), from €1,476 to €1,985
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 | €64,999 | €95,683 | +€30,684 | +47.2% |
| Fixed assets | 21/28 | €3,427 | €4,637 | +€1,210 | +35.3% |
| Tangible fixed assets | 22/27 | €3,427 | €4,637 | +€1,210 | +35.3% |
| Furniture and vehicles | 24 | €3,427 | €4,637 | +€1,210 | +35.3% |
| Current assets | 29/58 | €61,572 | €91,046 | +€29,474 | +47.9% |
| Amounts receivable within one year | 40/41 | €43,901 | €76,058 | +€32,157 | +73.2% |
| Trade receivables | 40 | €9,038 | €14,753 | +€5,716 | +63.2% |
| Other amounts receivable | 41 | €34,863 | €61,305 | +€26,441 | +75.8% |
| Cash at bank and in hand | 54/58 | €17,010 | €14,988 | -€2,023 | -11.9% |
| Deferred charges and accrued income | 490/1 | €660 | - | -€660 | |
| Total equity and liabilities | 10/49 | €64,999 | €95,683 | +€30,684 | +47.2% |
| Equity | 10/15 | €37,973 | €52,690 | +€14,718 | +38.8% |
| Contributions | 10/11 | €3,050 | €3,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,923 | €49,640 | +€14,718 | +42.1% |
| Amounts payable | 17/49 | €27,026 | €42,992 | +€15,966 | +59.1% |
| Amounts payable within one year | 42/48 | €27,026 | €42,992 | +€15,966 | +59.1% |
| Current portion of amounts payable after more than one year | 42 | - | €8,351 | +€8,351 | |
| Trade debts | 44 | €8,427 | €13,262 | +€4,835 | +57.4% |
| Suppliers | 440/4 | €8,427 | €13,262 | +€4,835 | +57.4% |
| Taxes, remuneration and social security | 45 | €18,599 | €17,879 | -€720 | -3.9% |
| Taxes | 450/3 | €18,599 | €17,879 | -€720 | -3.9% |
| Other amounts payable | 47/48 | - | €3,500 | +€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,476 | €1,985 | +€508 | +34.4% |
| Other operating charges | 640/8 | €512 | €677 | +€164 | +32.1% |
| Gross operating margin | 9900 | €49,642 | €24,549 | -€25,094 | -50.5% |
| Operating profit (loss) | 9901 | €47,653 | €21,887 | -€25,766 | -54.1% |
| Financial income | 75/76B | €1,063 | €2,446 | +€1,382 | +130% |
| Recurring financial income | 75 | €1,063 | €2,446 | +€1,382 | +130% |
| Financial charges | 65/66B | €92 | €969 | +€877 | +952% |
| Recurring financial charges | 65 | €92 | €969 | +€877 | +952% |
| Profit (loss) for the period before taxes | 9903 | €48,624 | €23,363 | -€25,261 | -52.0% |
| Income taxes | 67/77 | €13,702 | €5,146 | -€8,556 | -62.4% |
| Profit (loss) for the period | 9904 | €34,923 | €18,218 | -€16,705 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,923 | €18,218 | -€16,705 | -47.8% |
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 26 October 2026 via checked.be.