Arvado: 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.
Arvado
Largest movements
- Cash -€28,860
down €28,860 (-51.4%), from €56,124 to €27,265
mainly Investment in fixed assets (net) (-€34,573) and Debts after one year (-€21,358)
- Tangible fixed assets +€19,936
up €19,936 (+4.4%), from €449,950 to €469,886
of which Land and buildings: +€18,755
- Receivables within one year -€10,519
down €10,519 (-44.6%), from €23,572 to €13,054
of which Trade receivables: -€10,661
- Debts after one year -€21,358
down €21,358 (-4.9%), from €435,313 to €413,956
of which Financial debts: -€21,358
- Other debts +€12,621
up €12,621 (+5904.4%), from €214 to €12,835
- Trade debts -€9,855
down €9,855 (-52.8%), from €18,658 to €8,803
- Gross operating margin -€20,693
down €20,693 (-32.6%), from €63,423 to €42,731
- Depreciation -€8,064
down €8,064 (-37.0%), from €21,772 to €13,707
- Taxes -€4,895
down €4,895 (-55.1%), from €8,889 to €3,995
- Other operating charges +€1,120
up €1,120 (+43.1%), from €2,595 to €3,714
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.
Cash bridge derived
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 | €535,741 | €515,657 | -€20,085 | -3.7% |
| Fixed assets | 21/28 | €449,950 | €470,816 | +€20,866 | +4.6% |
| Tangible fixed assets | 22/27 | €449,950 | €469,886 | +€19,936 | +4.4% |
| Land and buildings | 22 | €445,495 | €464,249 | +€18,755 | +4.2% |
| Plant, machinery and equipment | 23 | €265 | €0 | -€265 | -100.0% |
| Furniture and vehicles | 24 | €4,190 | €5,637 | +€1,447 | +34.5% |
| Financial fixed assets | 28 | - | €930 | +€930 | |
| Current assets | 29/58 | €85,791 | €44,840 | -€40,951 | -47.7% |
| Amounts receivable within one year | 40/41 | €23,572 | €13,054 | -€10,519 | -44.6% |
| Trade receivables | 40 | €23,572 | €12,911 | -€10,661 | -45.2% |
| Other amounts receivable | 41 | €0 | €142 | +€142 | |
| Current investments | 50/53 | €4,500 | €4,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €56,124 | €27,265 | -€28,860 | -51.4% |
| Deferred charges and accrued income | 490/1 | €1,594 | €22 | -€1,572 | -98.6% |
| Total equity and liabilities | 10/49 | €535,741 | €515,657 | -€20,085 | -3.7% |
| Equity | 10/15 | €42,080 | €36,897 | -€5,182 | -12.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,880 | €30,697 | -€5,182 | -14.4% |
| Non-distributable reserves | 130/1 | €592 | €592 | = | 0.0% |
| Reserves not available under the articles | 1311 | €592 | €592 | = | 0.0% |
| Distributable reserves | 133 | €35,288 | €30,105 | -€5,182 | -14.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €493,661 | €478,759 | -€14,902 | -3.0% |
| Amounts payable after more than one year | 17 | €435,313 | €413,956 | -€21,358 | -4.9% |
| Financial debts | 170/4 | €397,056 | €375,698 | -€21,358 | -5.4% |
| Other amounts payable | 178/9 | €38,257 | €38,257 | = | 0.0% |
| Amounts payable within one year | 42/48 | €57,478 | €63,934 | +€6,456 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €20,887 | €21,358 | +€471 | +2.3% |
| Trade debts | 44 | €18,658 | €8,803 | -€9,855 | -52.8% |
| Suppliers | 440/4 | €18,658 | €8,803 | -€9,855 | -52.8% |
| Taxes, remuneration and social security | 45 | €17,720 | €20,938 | +€3,218 | +18.2% |
| Taxes | 450/3 | €17,720 | €20,938 | +€3,218 | +18.2% |
| Other amounts payable | 47/48 | €214 | €12,835 | +€12,621 | +5904.4% |
| Accrued charges and deferred income | 492/3 | €870 | €870 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,772 | €13,707 | -€8,064 | -37.0% |
| Other operating charges | 640/8 | €2,595 | €3,714 | +€1,120 | +43.1% |
| Gross operating margin | 9900 | €63,423 | €42,731 | -€20,693 | -32.6% |
| Operating profit (loss) | 9901 | €39,057 | €25,309 | -€13,748 | -35.2% |
| Financial income | 75/76B | - | €27 | +€27 | |
| Recurring financial income | 75 | - | €27 | +€27 | |
| Financial charges | 65/66B | €11,654 | €11,523 | -€131 | -1.1% |
| Recurring financial charges | 65 | €11,654 | €11,523 | -€131 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €27,403 | €13,812 | -€13,590 | -49.6% |
| Income taxes | 67/77 | €8,889 | €3,995 | -€4,895 | -55.1% |
| Profit (loss) for the period | 9904 | €18,513 | €9,818 | -€8,696 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,513 | €9,818 | -€8,696 | -47.0% |
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 9 October 2026 via checked.be.