ARTHURA: 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.
What changed
ARTHURA
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€68,028
2024 · -€59,107+€127,135
Equity
€1.6m
2024 · €1.5m+€67,455
Cash
€205,510
2024 · €47,476+€158,034
Balance sheet total
€8.5m
2024 · €7.7m+€809,069
Largest movements
Assets
- Tangible fixed assets +€704,225
up €704,225 (+9.5%), from €7.4m to €8.1m
of which Land and buildings: +€701,141
- Cash +€158,034
up €158,034 (+333%), from €47,476 to €205,510
mainly Debts after one year (+€605,888) and Depreciation (+€278,656)
Equity and liabilities
- Debts after one year +€605,888
up €605,888 (+11.5%), from €5.3m to €5.9m
- Other debts +€130,306
up €130,306 (+31.2%), from €417,640 to €547,946
Income statement
- Gross operating margin +€104,724
up €104,724 (+19.2%), from €544,486 to €649,211
- Depreciation -€64,938
down €64,938 (-18.9%), from €343,594 to €278,656
- Staff costs -€19,374
down €19,374 (-16.3%), from €119,169 to €99,795
- Financial income -€17,410
down €17,410 (-96.6%), from €18,025 to €615
of which Non-recurring financial income: -€16,504
- Taxes +€15,006
up €15,006 (+4,842%), from €310 to €15,316
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.
Result 2024
-€59,107
Gross operating margin
+€104,724
Staff costs
+€19,374
Depreciation
+€64,938
Other operating charges
-€10,698
Other operating items
-€7,203
Financial income
-€17,410
Financial charges
-€11,584
Taxes
-€15,006
Result 2025
€68,028
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€493,032
Investment
-€982,301
Financing
+€647,303
Cash 2024
€47,476
From operations (derived)
+€493,032
Net result for the year
+€68,028
Depreciation
+€278,656
Receivables within one year
+€62,645
Deferred charges and accrued income
-€10,036
Trade debts
+€12,186
Tax, wage and social debts
+€7,273
Advances received
-€58,333
Other debts
+€130,306
Accrued charges and deferred income
+€2,307
Investment (derived)
-€982,301
Investment in fixed assets (net)
-€982,301
Financing
+€647,303
Debts after one year
+€605,888
Current portion of long-term debt
+€41,988
Contributions, distributions and other
-€573
Cash 2025
€205,510
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,674,330 | €8,483,399 | +€809,069 | +10.5% |
| Fixed assets | 21/28 | €7,410,397 | €8,114,042 | +€703,645 | +9.5% |
| Intangible fixed assets | 21 | €1,689 | €1,108 | -€581 | -34.4% |
| Tangible fixed assets | 22/27 | €7,406,528 | €8,110,754 | +€704,225 | +9.5% |
| Land and buildings | 22 | €7,389,668 | €8,090,809 | +€701,141 | +9.5% |
| Plant, machinery and equipment | 23 | €2,000 | €3,073 | +€1,073 | +53.6% |
| Furniture and vehicles | 24 | €14,860 | €16,872 | +€2,012 | +13.5% |
| Financial fixed assets | 28 | €2,180 | €2,180 | = | 0.0% |
| Current assets | 29/58 | €263,933 | €369,357 | +€105,424 | +39.9% |
| Amounts receivable within one year | 40/41 | €209,860 | €147,215 | -€62,645 | -29.9% |
| Trade receivables | 40 | €114,804 | €57,608 | -€57,196 | -49.8% |
| Other amounts receivable | 41 | €95,057 | €89,607 | -€5,449 | -5.7% |
| Cash at bank and in hand | 54/58 | €47,476 | €205,510 | +€158,034 | +333% |
| Deferred charges and accrued income | 490/1 | €6,597 | €16,632 | +€10,036 | +152% |
| Total equity and liabilities | 10/49 | €7,674,330 | €8,483,399 | +€809,069 | +10.5% |
| Equity | 10/15 | €1,545,032 | €1,612,486 | +€67,455 | +4.4% |
| Contributions | 10/11 | €690,000 | €690,000 | = | 0.0% |
| Revaluation surpluses | 12 | €602,945 | €602,945 | = | 0.0% |
| Reserves | 13 | €221,554 | €289,583 | +€68,028 | +30.7% |
| Non-distributable reserves | 130/1 | €8,992 | €8,992 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,992 | €8,992 | = | 0.0% |
| Distributable reserves | 133 | €212,563 | €280,591 | +€68,028 | +32.0% |
| Investment grants | 15 | €30,532 | €29,959 | -€573 | -1.9% |
| Amounts payable | 17/49 | €6,129,299 | €6,870,913 | +€741,614 | +12.1% |
| Amounts payable after more than one year | 17 | €5,272,086 | €5,877,973 | +€605,888 | +11.5% |
| Financial debts | 170/4 | €5,272,086 | €5,877,973 | +€605,888 | +11.5% |
| Amounts payable within one year | 42/48 | €854,416 | €987,835 | +€133,419 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €309,401 | €351,389 | +€41,988 | +13.6% |
| Trade debts | 44 | €38,732 | €50,918 | +€12,186 | +31.5% |
| Suppliers | 440/4 | €38,732 | €50,918 | +€12,186 | +31.5% |
| Advances received on contracts in progress | 46 | €58,333 | - | -€58,333 | |
| Taxes, remuneration and social security | 45 | €30,309 | €37,582 | +€7,273 | +24.0% |
| Taxes | 450/3 | €10,179 | €28,158 | +€17,979 | +177% |
| Remuneration and social security | 454/9 | €20,130 | €9,424 | -€10,706 | -53.2% |
| Other amounts payable | 47/48 | €417,640 | €547,946 | +€130,306 | +31.2% |
| Accrued charges and deferred income | 492/3 | €2,797 | €5,104 | +€2,307 | +82.5% |
| Remuneration, social security and pensions | 62 | €119,169 | €99,795 | -€19,374 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €343,594 | €278,656 | -€64,938 | -18.9% |
| Other operating charges | 640/8 | €29,976 | €40,674 | +€10,698 | +35.7% |
| Non-recurring operating charges | 66A | - | €7,203 | +€7,203 | |
| Gross operating margin | 9900 | €544,486 | €649,211 | +€104,724 | +19.2% |
| Operating profit (loss) | 9901 | €51,747 | €222,882 | +€171,135 | +331% |
| Financial income | 75/76B | €18,025 | €615 | -€17,410 | -96.6% |
| Recurring financial income | 75 | €1,521 | €615 | -€906 | -59.6% |
| Non-recurring financial income | 76B | €16,504 | - | -€16,504 | |
| Financial charges | 65/66B | €128,569 | €140,153 | +€11,584 | +9.0% |
| Recurring financial charges | 65 | €108,569 | €140,153 | +€31,584 | +29.1% |
| Non-recurring financial charges | 66B | €20,000 | - | -€20,000 | |
| Profit (loss) for the period before taxes | 9903 | -€58,797 | €83,344 | +€142,141 | |
| Income taxes | 67/77 | €310 | €15,316 | +€15,006 | +4,842% |
| Profit (loss) for the period | 9904 | -€59,107 | €68,028 | +€127,135 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,107 | €68,028 | +€127,135 |
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 25 October 2026 via checked.be.