ARVI PROJECTS: 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.
ARVI PROJECTS
Largest movements
- Stocks and contracts +€363,996
up €363,996 (+52.7%), from €690,702 to €1.1m
of which Stocks: +€233,413
- Tangible fixed assets +€337,111
up €337,111 (+260%), from €129,446 to €466,557
of which Land and buildings: +€321,104
- Cash +€144,687
up €144,687 (+600%), from €24,130 to €168,817
mainly Short-term financial debts (+€507,826) and Debts after one year (+€288,592)
- Receivables within one year -€28,259
down €28,259 (-18.3%), from €154,362 to €126,103
of which Trade receivables: -€128,560
- Short-term financial debts +€507,826
new in 2025: €507,826
- Debts after one year +€288,592
up €288,592 (+259%), from €111,408 to €400,000
- Advances received +€130,583
up €130,583 (+33.5%), from €389,633 to €520,216
- Trade debts -€119,408
down €119,408 (-47.9%), from €249,182 to €129,774
- Reserves +€43,073
up €43,073 (+11.3%), from €381,469 to €424,542
of which Distributable reserves: +€43,073
- Gross operating margin -€113,219
down €113,219 (-49.7%), from €228,032 to €114,813
- Taxes -€36,555
down €36,555 (-70.2%), from €52,047 to €15,492
- Financial income -€11,771
down €11,771 (-78.6%), from €14,982 to €3,211
- Other operating charges +€11,756
up €11,756 (+1,315%), from €894 to €12,650
- Financial charges +€5,665
up €5,665 (+31.0%), from €18,301 to €23,966
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,251,211 | €2,068,750 | +€817,539 | +65.3% |
| Fixed assets | 21/28 | €379,662 | €716,557 | +€336,895 | +88.7% |
| Intangible fixed assets | 21 | €216 | - | -€216 | |
| Tangible fixed assets | 22/27 | €129,446 | €466,557 | +€337,111 | +260% |
| Land and buildings | 22 | - | €321,104 | +€321,104 | |
| Plant, machinery and equipment | 23 | €25,870 | €18,379 | -€7,491 | -29.0% |
| Furniture and vehicles | 24 | €32,306 | €43,852 | +€11,546 | +35.7% |
| Other tangible fixed assets | 26 | €71,270 | €83,221 | +€11,951 | +16.8% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €871,549 | €1,352,193 | +€480,644 | +55.1% |
| Stocks and contracts in progress | 3 | €690,702 | €1,054,698 | +€363,996 | +52.7% |
| Stocks | 30/36 | €301,069 | €534,482 | +€233,413 | +77.5% |
| Contracts in progress | 37 | €389,633 | €520,216 | +€130,583 | +33.5% |
| Amounts receivable within one year | 40/41 | €154,362 | €126,103 | -€28,259 | -18.3% |
| Trade receivables | 40 | €151,302 | €22,742 | -€128,560 | -85.0% |
| Other amounts receivable | 41 | €3,060 | €103,361 | +€100,301 | +3,278% |
| Cash at bank and in hand | 54/58 | €24,130 | €168,817 | +€144,687 | +600% |
| Deferred charges and accrued income | 490/1 | €2,355 | €2,575 | +€220 | +9.3% |
| Total equity and liabilities | 10/49 | €1,251,211 | €2,068,750 | +€817,539 | +65.3% |
| Equity | 10/15 | €400,069 | €443,142 | +€43,073 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €381,469 | €424,542 | +€43,073 | +11.3% |
| Tax-exempt reserves | 132 | €19,030 | €19,030 | = | 0.0% |
| Distributable reserves | 133 | €362,439 | €405,513 | +€43,073 | +11.9% |
| Amounts payable | 17/49 | €851,142 | €1,625,607 | +€774,465 | +91.0% |
| Amounts payable after more than one year | 17 | €111,408 | €400,000 | +€288,592 | +259% |
| Financial debts | 170/4 | €111,408 | €400,000 | +€288,592 | +259% |
| Amounts payable within one year | 42/48 | €738,395 | €1,224,055 | +€485,660 | +65.8% |
| Current portion of amounts payable after more than one year | 42 | €29,315 | €11,408 | -€17,907 | -61.1% |
| Financial debts | 43 | - | €507,826 | +€507,826 | |
| Credit institutions | 430/8 | - | €507,826 | +€507,826 | |
| Trade debts | 44 | €249,182 | €129,774 | -€119,408 | -47.9% |
| Suppliers | 440/4 | €249,182 | €129,774 | -€119,408 | -47.9% |
| Advances received on contracts in progress | 46 | €389,633 | €520,216 | +€130,583 | +33.5% |
| Taxes, remuneration and social security | 45 | €63,087 | €50,864 | -€12,223 | -19.4% |
| Taxes | 450/3 | €61,587 | €49,364 | -€12,223 | -19.8% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €7,178 | €3,966 | -€3,211 | -44.7% |
| Accrued charges and deferred income | 492/3 | €1,339 | €1,552 | +€214 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,632 | €22,843 | +€2,211 | +10.7% |
| Other operating charges | 640/8 | €894 | €12,650 | +€11,756 | +1,315% |
| Gross operating margin | 9900 | €228,032 | €114,813 | -€113,219 | -49.7% |
| Operating profit (loss) | 9901 | €206,506 | €79,320 | -€127,186 | -61.6% |
| Financial income | 75/76B | €14,982 | €3,211 | -€11,771 | -78.6% |
| Recurring financial income | 75 | €14,982 | €3,211 | -€11,771 | -78.6% |
| Financial charges | 65/66B | €18,301 | €23,966 | +€5,665 | +31.0% |
| Recurring financial charges | 65 | €18,301 | €23,966 | +€5,665 | +31.0% |
| Profit (loss) for the period before taxes | 9903 | €203,187 | €58,565 | -€144,622 | -71.2% |
| Income taxes | 67/77 | €52,047 | €15,492 | -€36,555 | -70.2% |
| Profit (loss) for the period | 9904 | €151,140 | €43,073 | -€108,067 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €151,140 | €43,073 | -€108,067 | -71.5% |
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 16 October 2026 via checked.be.