ARVAK: what changed
Two fiscal 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.
ARVAK
Largest movements
- Receivables within one year +€259,181
up €259,181 (+617.4%), from €41,978 to €301,159
of which Trade receivables: +€236,900
- Current investments +€191,893
up €191,893 (+156.0%), from €123,000 to €314,893
- Tangible fixed assets -€64,789
down €64,789 (-100.0%), from €64,789 to €0
of which Land and buildings: -€63,946
- Cash -€9,461
down €9,461 (-22.3%), from €42,404 to €32,944
mainly Receivables within one year (-€259,181) and Current investments (-€191,893)
- Reserves +€339,077
up €339,077 (+140.2%), from €241,919 to €580,996
- Tax, wage and social debts +€37,161
up €37,161 (+373.8%), from €9,941 to €47,102
- Gross operating margin +€618,902
up €618,902 (+991.6%), from €62,413 to €681,316
- Taxes +€194,703
up €194,703 (+860.8%), from €22,619 to €217,323
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €272,886 | €648,995 | +€376,109 | +137.8% |
| Fixed assets | 21/28 | €64,789 | €0 | -€64,789 | -100.0% |
| Tangible fixed assets | 22/27 | €64,789 | €0 | -€64,789 | -100.0% |
| Land and buildings | 22 | €63,946 | €0 | -€63,946 | -100.0% |
| Furniture and vehicles | 24 | €842 | €0 | -€842 | -100.0% |
| Current assets | 29/58 | €208,098 | €648,995 | +€440,898 | +211.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €41,978 | €301,159 | +€259,181 | +617.4% |
| Trade receivables | 40 | - | €236,900 | +€236,900 | |
| Other amounts receivable | 41 | €41,978 | €64,259 | +€22,281 | +53.1% |
| Current investments | 50/53 | €123,000 | €314,893 | +€191,893 | +156.0% |
| Cash at bank and in hand | 54/58 | €42,404 | €32,944 | -€9,461 | -22.3% |
| Deferred charges and accrued income | 490/1 | €716 | €0 | -€716 | -100.0% |
| Total equity and liabilities | 10/49 | €272,886 | €648,995 | +€376,109 | +137.8% |
| Equity | 10/15 | €260,469 | €599,546 | +€339,077 | +130.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €241,919 | €580,996 | +€339,077 | +140.2% |
| Distributable reserves | 133 | €241,919 | €580,996 | +€339,077 | +140.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €12,417 | €49,450 | +€37,032 | +298.2% |
| Amounts payable within one year | 42/48 | €12,417 | €49,450 | +€37,032 | +298.2% |
| Trade debts | 44 | €2,477 | €2,348 | -€129 | -5.2% |
| Suppliers | 440/4 | €2,477 | €2,348 | -€129 | -5.2% |
| Taxes, remuneration and social security | 45 | €9,941 | €47,102 | +€37,161 | +373.8% |
| Taxes | 450/3 | €9,941 | €47,102 | +€37,161 | +373.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €929 | €0 | -€929 | -100.0% |
| Other operating charges | 640/8 | €3,067 | €3,304 | +€237 | +7.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €62,413 | €681,316 | +€618,902 | +991.6% |
| Operating profit (loss) | 9901 | €58,417 | €678,011 | +€619,594 | +1060.6% |
| Financial income | 75/76B | €6,186 | €3,300 | -€2,886 | -46.7% |
| Recurring financial income | 75 | €6,186 | €3,300 | -€2,886 | -46.7% |
| Financial charges | 65/66B | €103 | €74 | -€29 | -27.8% |
| Recurring financial charges | 65 | €103 | €74 | -€29 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €64,500 | €681,237 | +€616,737 | +956.2% |
| Income taxes | 67/77 | €22,619 | €217,323 | +€194,703 | +860.8% |
| Profit (loss) for the period | 9904 | €41,881 | €463,914 | +€422,033 | +1007.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,881 | €463,914 | +€422,033 | +1007.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.