ARVEDO: 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.
ARVEDO
Largest movements
- Tangible fixed assets +€57,048
up €57,048 (+130.1%), from €43,837 to €100,885
of which Furniture and vehicles: +€58,348
- Deferred charges and accrued income +€40,683
up €40,683 (+7884.6%), from €516 to €41,199
- Cash +€11,720
up €11,720 (+12.1%), from €97,025 to €108,746
mainly Net result for the year (+€138,929) and Depreciation (+€21,012)
- Reserves +€138,929
up €138,929 (+90.7%), from €153,164 to €292,093
- Other debts -€35,568
down €35,568 (-83.4%), from €42,658 to €7,090
- Tax, wage and social debts -€25,550
down €25,550 (-81.1%), from €31,522 to €5,972
- Current portion of long-term debt +€16,918
up €16,918 (+171.8%), from €9,850 to €26,768
- Debts after one year +€12,547
up €12,547 (+90.8%), from €13,820 to €26,367
- Gross operating margin +€25,679
up €25,679 (+14.2%), from €180,957 to €206,635
- Depreciation +€10,872
up €10,872 (+107.2%), from €10,140 to €21,012
- Taxes +€4,245
up €4,245 (+11.4%), from €37,117 to €41,362
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 | €258,421 | €364,858 | +€106,438 | +41.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €46,537 | €103,285 | +€56,748 | +121.9% |
| Intangible fixed assets | 21 | €2,700 | €2,400 | -€300 | -11.1% |
| Tangible fixed assets | 22/27 | €43,837 | €100,885 | +€57,048 | +130.1% |
| Plant, machinery and equipment | 23 | €5,199 | €3,899 | -€1,300 | -25.0% |
| Furniture and vehicles | 24 | €38,639 | €96,986 | +€58,348 | +151.0% |
| Current assets | 29/58 | €211,884 | €261,574 | +€49,690 | +23.5% |
| Amounts receivable within one year | 40/41 | €114,342 | €111,629 | -€2,713 | -2.4% |
| Trade receivables | 40 | €114,342 | €111,629 | -€2,713 | -2.4% |
| Cash at bank and in hand | 54/58 | €97,025 | €108,746 | +€11,720 | +12.1% |
| Deferred charges and accrued income | 490/1 | €516 | €41,199 | +€40,683 | +7884.6% |
| Total equity and liabilities | 10/49 | €258,421 | €364,858 | +€106,438 | +41.2% |
| Equity | 10/15 | €154,164 | €293,093 | +€138,929 | +90.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €153,164 | €292,093 | +€138,929 | +90.7% |
| Distributable reserves | 133 | €153,164 | €292,093 | +€138,929 | +90.7% |
| Amounts payable | 17/49 | €104,256 | €71,765 | -€32,491 | -31.2% |
| Amounts payable after more than one year | 17 | €13,820 | €26,367 | +€12,547 | +90.8% |
| Financial debts | 170/4 | €13,820 | €26,367 | +€12,547 | +90.8% |
| Amounts payable within one year | 42/48 | €87,192 | €43,831 | -€43,360 | -49.7% |
| Current portion of amounts payable after more than one year | 42 | €9,850 | €26,768 | +€16,918 | +171.8% |
| Financial debts | 43 | €2,888 | €153 | -€2,735 | -94.7% |
| Other loans | 439 | €2,888 | €153 | -€2,735 | -94.7% |
| Trade debts | 44 | €273 | €3,847 | +€3,574 | +1309.0% |
| Suppliers | 440/4 | €273 | €3,847 | +€3,574 | +1309.0% |
| Taxes, remuneration and social security | 45 | €31,522 | €5,972 | -€25,550 | -81.1% |
| Taxes | 450/3 | €31,522 | €5,972 | -€25,550 | -81.1% |
| Other amounts payable | 47/48 | €42,658 | €7,090 | -€35,568 | -83.4% |
| Accrued charges and deferred income | 492/3 | €3,245 | €1,567 | -€1,678 | -51.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,140 | €21,012 | +€10,872 | +107.2% |
| Other operating charges | 640/8 | €1,267 | €1,539 | +€272 | +21.5% |
| Gross operating margin | 9900 | €180,957 | €206,635 | +€25,679 | +14.2% |
| Operating profit (loss) | 9901 | €169,550 | €184,085 | +€14,534 | +8.6% |
| Financial income | 75/76B | €20 | €0 | -€20 | -99.9% |
| Recurring financial income | 75 | €20 | €0 | -€20 | -99.9% |
| Financial charges | 65/66B | €4,433 | €3,794 | -€639 | -14.4% |
| Recurring financial charges | 65 | €4,433 | €3,794 | -€639 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €165,137 | €180,290 | +€15,153 | +9.2% |
| Income taxes | 67/77 | €37,117 | €41,362 | +€4,245 | +11.4% |
| Profit (loss) for the period | 9904 | €128,020 | €138,929 | +€10,908 | +8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €128,020 | €138,929 | +€10,908 | +8.5% |
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 8 October 2026 via checked.be.