ARWA: 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.
ARWA
Largest movements
- Cash -€10,776
down €10,776 (-64.2%), from €16,774 to €5,999
mainly Other debts (-€12,062) and Receivables within one year (-€3,452)
- Receivables within one year +€3,452
up €3,452 (+103.3%), from €3,340 to €6,792
of which Trade receivables: +€3,363
- Tangible fixed assets -€1,185
down €1,185 (-20.0%), from €5,932 to €4,747
- Stocks and contracts -€1,109
down €1,109 (-53.2%), from €2,086 to €977
- Other debts -€12,062
down €12,062 (-77.6%), from €15,541 to €3,479
- Profit (loss) carried forward +€3,803
up €3,803 (+25.3%), from -€15,037 to -€11,234
- Trade debts -€1,102
down €1,102 (-24.6%), from €4,471 to €3,369
- Current portion of long-term debt -€958
no longer reported in 2026 (was €958)
- Tax, wage and social debts +€700
up €700 (+40.2%), from €1,741 to €2,441
of which Taxes: +€700
- Gross operating margin -€4,712
down €4,712 (-40.1%), from €11,752 to €7,040
- Depreciation +€1,185
up €1,185 (+100.0%), from €1,185 to €2,370
- Taxes +€828
new in 2026: €828
- Purchases and services -€507
down €507 (-0.6%), from €84,931 to €84,424
- Other operating charges -€368
down €368 (-36.3%), from €1,014 to €647
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 | €28,133 | €18,515 | -€9,618 | -34.2% |
| Fixed assets | 21/28 | €5,932 | €4,747 | -€1,185 | -20.0% |
| Tangible fixed assets | 22/27 | €5,932 | €4,747 | -€1,185 | -20.0% |
| Furniture and vehicles | 24 | €5,932 | €4,747 | -€1,185 | -20.0% |
| Current assets | 29/58 | €22,201 | €13,768 | -€8,433 | -38.0% |
| Stocks and contracts in progress | 3 | €2,086 | €977 | -€1,109 | -53.2% |
| Stocks | 30/36 | €2,086 | €977 | -€1,109 | -53.2% |
| Amounts receivable within one year | 40/41 | €3,340 | €6,792 | +€3,452 | +103.3% |
| Trade receivables | 40 | €2,996 | €6,359 | +€3,363 | +112.3% |
| Other amounts receivable | 41 | €345 | €433 | +€89 | +25.7% |
| Cash at bank and in hand | 54/58 | €16,774 | €5,999 | -€10,776 | -64.2% |
| Total equity and liabilities | 10/49 | €28,133 | €18,515 | -€9,618 | -34.2% |
| Equity | 10/15 | €5,423 | €9,226 | +€3,803 | +70.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,037 | -€11,234 | +€3,803 | +25.3% |
| Amounts payable | 17/49 | €22,710 | €9,289 | -€13,421 | -59.1% |
| Amounts payable within one year | 42/48 | €22,710 | €9,289 | -€13,421 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €958 | - | -€958 | |
| Trade debts | 44 | €4,471 | €3,369 | -€1,102 | -24.6% |
| Suppliers | 440/4 | €4,471 | €3,369 | -€1,102 | -24.6% |
| Taxes, remuneration and social security | 45 | €1,741 | €2,441 | +€700 | +40.2% |
| Taxes | 450/3 | €1,644 | €2,344 | +€700 | +42.6% |
| Remuneration and social security | 454/9 | €97 | €97 | = | 0.0% |
| Other amounts payable | 47/48 | €15,541 | €3,479 | -€12,062 | -77.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €84,931 | €84,424 | -€507 | -0.6% |
| Remuneration, social security and pensions | 62 | €420 | €415 | -€6 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,185 | €2,370 | +€1,185 | +100.0% |
| Other operating charges | 640/8 | €1,014 | €647 | -€368 | -36.3% |
| Gross operating margin | 9900 | €11,752 | €7,040 | -€4,712 | -40.1% |
| Operating profit (loss) | 9901 | €9,132 | €3,609 | -€5,524 | -60.5% |
| Financial charges | 65/66B | €39 | €162 | +€123 | +314.6% |
| Recurring financial charges | 65 | €39 | €162 | +€123 | +314.6% |
| Profit (loss) for the period before taxes | 9903 | €9,093 | €3,447 | -€5,647 | -62.1% |
| Income taxes | 67/77 | - | €828 | +€828 | |
| Profit (loss) for the period | 9904 | €9,093 | €2,618 | -€6,475 | -71.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,093 | €2,618 | -€6,475 | -71.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.