ARTHUR & ELISE: 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 & ELISE
Largest movements
- Tangible fixed assets +€155,680
up €155,680 (+36.1%), from €431,688 to €587,369
of which Plant, machinery and equipment: +€174,089
- Cash +€13,315
up €13,315 (+29.5%), from €45,105 to €58,420
mainly Trade debts (+€96,415) and Depreciation (+€96,334)
- Receivables within one year -€11,227
down €11,227 (-23.3%), from €48,145 to €36,919
of which Trade receivables: -€18,261
- Trade debts +€96,415
up €96,415 (+160%), from €60,418 to €156,833
- Profit (loss) carried forward +€27,118
up €27,118 (+25.8%), from €104,931 to €132,049
- Tax, wage and social debts +€25,901
up €25,901 (+67.9%), from €38,164 to €64,065
of which Remuneration and social security: +€29,421
- Debts after one year +€12,216
up €12,216 (+5.9%), from €208,669 to €220,885
- Staff costs +€71,802
up €71,802 (+22.8%), from €315,597 to €387,399
- Gross operating margin +€39,937
up €39,937 (+8.1%), from €491,995 to €531,931
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 | €545,915 | €704,436 | +€158,521 | +29.0% |
| Fixed assets | 21/28 | €433,303 | €588,984 | +€155,680 | +35.9% |
| Tangible fixed assets | 22/27 | €431,688 | €587,369 | +€155,680 | +36.1% |
| Plant, machinery and equipment | 23 | €13,628 | €187,717 | +€174,089 | +1,277% |
| Furniture and vehicles | 24 | €52,991 | €31,256 | -€21,735 | -41.0% |
| Other tangible fixed assets | 26 | €365,069 | €351,096 | -€13,974 | -3.8% |
| Assets under construction and advance payments | 27 | - | €17,300 | +€17,300 | |
| Financial fixed assets | 28 | €1,615 | €1,615 | = | 0.0% |
| Current assets | 29/58 | €112,612 | €115,452 | +€2,840 | +2.5% |
| Stocks and contracts in progress | 3 | €7,237 | €4,500 | -€2,737 | -37.8% |
| Stocks | 30/36 | €7,237 | €4,500 | -€2,737 | -37.8% |
| Amounts receivable within one year | 40/41 | €48,145 | €36,919 | -€11,227 | -23.3% |
| Trade receivables | 40 | €44,874 | €26,614 | -€18,261 | -40.7% |
| Other amounts receivable | 41 | €3,271 | €10,305 | +€7,034 | +215% |
| Cash at bank and in hand | 54/58 | €45,105 | €58,420 | +€13,315 | +29.5% |
| Deferred charges and accrued income | 490/1 | €12,125 | €15,614 | +€3,488 | +28.8% |
| Total equity and liabilities | 10/49 | €545,915 | €704,436 | +€158,521 | +29.0% |
| Equity | 10/15 | €119,931 | €147,049 | +€27,118 | +22.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,931 | €132,049 | +€27,118 | +25.8% |
| Amounts payable | 17/49 | €425,984 | €557,387 | +€131,403 | +30.8% |
| Amounts payable after more than one year | 17 | €208,669 | €220,885 | +€12,216 | +5.9% |
| Financial debts | 170/4 | €208,669 | €220,885 | +€12,216 | +5.9% |
| Amounts payable within one year | 42/48 | €217,062 | €336,502 | +€119,440 | +55.0% |
| Current portion of amounts payable after more than one year | 42 | €53,522 | €51,995 | -€1,526 | -2.9% |
| Trade debts | 44 | €60,418 | €156,833 | +€96,415 | +160% |
| Suppliers | 440/4 | €60,418 | €156,833 | +€96,415 | +160% |
| Taxes, remuneration and social security | 45 | €38,164 | €64,065 | +€25,901 | +67.9% |
| Taxes | 450/3 | €3,521 | €1 | -€3,520 | -100.0% |
| Remuneration and social security | 454/9 | €34,643 | €64,065 | +€29,421 | +84.9% |
| Other amounts payable | 47/48 | €64,958 | €63,608 | -€1,351 | -2.1% |
| Accrued charges and deferred income | 492/3 | €253 | €0 | -€253 | -100% |
| Remuneration, social security and pensions | 62 | €315,597 | €387,399 | +€71,802 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,816 | €96,334 | +€2,518 | +2.7% |
| Other operating charges | 640/8 | €5,616 | €3,182 | -€2,434 | -43.3% |
| Gross operating margin | 9900 | €491,995 | €531,931 | +€39,937 | +8.1% |
| Operating profit (loss) | 9901 | €76,966 | €45,016 | -€31,950 | -41.5% |
| Financial income | 75/76B | €3,502 | €232 | -€3,270 | -93.4% |
| Recurring financial income | 75 | €3,502 | €232 | -€3,270 | -93.4% |
| Financial charges | 65/66B | €11,429 | €9,062 | -€2,368 | -20.7% |
| Recurring financial charges | 65 | €11,429 | €9,062 | -€2,368 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €69,038 | €36,186 | -€32,852 | -47.6% |
| Income taxes | 67/77 | €12,258 | €9,068 | -€3,190 | -26.0% |
| Profit (loss) for the period | 9904 | €56,780 | €27,118 | -€29,662 | -52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,780 | €27,118 | -€29,662 | -52.2% |
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 17 October 2026 via checked.be.