ARVALE: 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.
What changed
ARVALE
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5,896
2024 · -€74,313+€80,210
Equity
-€607,492
2024 · -€613,388+€5,896
Cash
€217,345
2024 · €275,474-€58,129
Balance sheet total
€7.0m
2024 · €6.7m+€334,737
Largest movements
Assets
- Receivables within one year +€264,368
up €264,368 (+13.8%), from €1.9m to €2.2m
of which Trade receivables: +€143,289
- Financial fixed assets +€251,127
up €251,127 (+33.7%), from €744,890 to €996,017
- Current investments -€99,222
down €99,222 (-7.1%), from €1.4m to €1.3m
Equity and liabilities
- Trade debts +€168,992
up €168,992 (+478.1%), from €35,345 to €204,337
- Debts after one year +€162,269
up €162,269 (+4.9%), from €3.3m to €3.5m
of which Other amounts payable: +€188,000
- Other debts +€80,933
up €80,933 (+15.6%), from €518,734 to €599,668
Income statement
- Gross operating margin -€579,321
down €579,321 (-55.5%), from €1.0m to €464,630
- Financial charges -€361,129
down €361,129 (-52.0%), from €693,867 to €332,737
- Other operating charges -€271,313
down €271,313 (-73.3%), from €369,902 to €98,590
- Provisions +€107,469
up €107,469 (+63.3%), from -€169,818 to -€62,349
- Depreciation +€14,379
up €14,379 (+14.9%), from €96,561 to €110,940
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
-€74,313
Gross operating margin
-€579,321
Depreciation
-€14,379
Write-downs
-€816
Provisions
-€107,469
Other operating charges
+€271,313
Financial income
-€7,549
Financial charges
+€361,129
Taxes
+€1
Deferred taxes and other
+€157,299
Result 2025
€5,896
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.
From operations
+€43,224
Investment
-€237,598
Financing
+€136,245
Cash 2024
€275,474
From operations (derived)
+€43,224
Net result for the year
+€5,896
Depreciation
+€110,940
Receivables within one year
-€264,368
Deferred charges and accrued income
-€1,839
Provisions
-€59,686
Trade debts
+€168,992
Tax, wage and social debts
-€5,420
Other debts
+€80,933
Accrued charges and deferred income
+€7,775
Investment (derived)
-€237,598
Investment in fixed assets (net)
-€336,820
Current investments
+€99,222
Financing
+€136,245
Debts after one year
+€162,269
Current portion of long-term debt
-€27,079
Short-term financial debts
+€1,055
Cash 2025
€217,345
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,675,346 | €7,010,083 | +€334,737 | +5.0% |
| Fixed assets | 21/28 | €3,085,025 | €3,310,906 | +€225,881 | +7.3% |
| Tangible fixed assets | 22/27 | €2,340,135 | €2,314,889 | -€25,246 | -1.1% |
| Land and buildings | 22 | €2,275,848 | €2,229,130 | -€46,719 | -2.1% |
| Plant, machinery and equipment | 23 | €23,246 | €62,391 | +€39,146 | +168.4% |
| Furniture and vehicles | 24 | €41,041 | €23,369 | -€17,673 | -43.1% |
| Financial fixed assets | 28 | €744,890 | €996,017 | +€251,127 | +33.7% |
| Current assets | 29/58 | €3,590,321 | €3,699,177 | +€108,856 | +3.0% |
| Amounts receivable within one year | 40/41 | €1,922,234 | €2,186,601 | +€264,368 | +13.8% |
| Trade receivables | 40 | €171,076 | €314,365 | +€143,289 | +83.8% |
| Other amounts receivable | 41 | €1,751,158 | €1,872,236 | +€121,078 | +6.9% |
| Current investments | 50/53 | €1,390,920 | €1,291,698 | -€99,222 | -7.1% |
| Cash at bank and in hand | 54/58 | €275,474 | €217,345 | -€58,129 | -21.1% |
| Deferred charges and accrued income | 490/1 | €1,693 | €3,532 | +€1,839 | +108.7% |
| Total equity and liabilities | 10/49 | €6,675,346 | €7,010,083 | +€334,737 | +5.0% |
| Equity | 10/15 | -€613,388 | -€607,492 | +€5,896 | +1.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €552,303 | €562,955 | +€10,652 | +1.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €550,443 | €561,095 | +€10,652 | +1.9% |
| Profit (loss) carried forward | 14 | -€1,184,283 | -€1,189,038 | -€4,756 | -0.4% |
| Provisions and deferred taxes | 16 | €3,087,722 | €3,028,036 | -€59,686 | -1.9% |
| Provisions for liabilities and charges | 160/5 | €2,927,760 | €2,865,411 | -€62,349 | -2.1% |
| Environmental obligations | 163 | €2,927,760 | €2,865,411 | -€62,349 | -2.1% |
| Deferred taxes | 168 | €159,962 | €162,625 | +€2,663 | +1.7% |
| Amounts payable | 17/49 | €4,201,012 | €4,589,538 | +€388,527 | +9.2% |
| Amounts payable after more than one year | 17 | €3,326,707 | €3,488,976 | +€162,269 | +4.9% |
| Financial debts | 170/4 | €2,636,500 | €2,610,769 | -€25,731 | -1.0% |
| Other amounts payable | 178/9 | €690,207 | €878,207 | +€188,000 | +27.2% |
| Amounts payable within one year | 42/48 | €835,340 | €1,053,822 | +€218,482 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €52,980 | €25,901 | -€27,079 | -51.1% |
| Financial debts | 43 | €200,000 | €201,055 | +€1,055 | +0.5% |
| Credit institutions | 430/8 | €200,000 | €201,055 | +€1,055 | +0.5% |
| Trade debts | 44 | €35,345 | €204,337 | +€168,992 | +478.1% |
| Suppliers | 440/4 | €35,345 | €204,337 | +€168,992 | +478.1% |
| Taxes, remuneration and social security | 45 | €28,281 | €22,861 | -€5,420 | -19.2% |
| Taxes | 450/3 | €28,281 | €22,861 | -€5,420 | -19.2% |
| Other amounts payable | 47/48 | €518,734 | €599,668 | +€80,933 | +15.6% |
| Accrued charges and deferred income | 492/3 | €38,964 | €46,740 | +€7,775 | +20.0% |
| Non-recurring operating income | 76A | - | €13,315 | +€13,315 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,561 | €110,940 | +€14,379 | +14.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€816 | - | +€816 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€169,818 | -€62,349 | +€107,469 | +63.3% |
| Other operating charges | 640/8 | €369,902 | €98,590 | -€271,313 | -73.3% |
| Gross operating margin | 9900 | €1,043,950 | €464,630 | -€579,321 | -55.5% |
| Operating profit (loss) | 9901 | €748,121 | €317,450 | -€430,671 | -57.6% |
| Financial income | 75/76B | €31,672 | €24,123 | -€7,549 | -23.8% |
| Recurring financial income | 75 | €31,672 | €24,123 | -€7,549 | -23.8% |
| Financial charges | 65/66B | €693,867 | €332,737 | -€361,129 | -52.0% |
| Recurring financial charges | 65 | €693,867 | €332,737 | -€361,129 | -52.0% |
| Profit (loss) for the period before taxes | 9903 | €85,927 | €8,836 | -€77,091 | -89.7% |
| Transfer to deferred taxes | 680 | €159,962 | €2,663 | -€157,299 | -98.3% |
| Income taxes | 67/77 | €278 | €277 | -€1 | -0.5% |
| Profit (loss) for the period | 9904 | -€74,313 | €5,896 | +€80,210 | |
| Transfer to tax-exempt reserves | 689 | €479,886 | €10,652 | -€469,234 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€554,200 | -€4,756 | +€549,444 | +99.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.