ARWEM: 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.
ARWEM
Largest movements
- Receivables after one year +€420,500
up €420,500 (+7.8%), from €5.4m to €5.8m
- Receivables within one year +€94,381
up €94,381 (+49.1%), from €192,046 to €286,427
of which Trade receivables: +€57,678
- Debts after one year +€282,000
up €282,000 (+5.1%), from €5.5m to €5.8m
- Trade debts +€156,364
up €156,364 (+42.7%), from €366,019 to €522,384
- Financial income +€34,153
up €34,153 (+20.1%), from €170,235 to €204,388
- Taxes +€14,727
up €14,727 (+2598.7%), from €567 to €15,294
- Staff costs +€6,801
up €6,801 (+6.5%), from €105,323 to €112,125
- Gross operating margin +€5,949
up €5,949 (+4.7%), from €127,172 to €133,121
- Financial charges -€2,859
down €2,859 (-1.6%), from €174,524 to €171,665
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 | €6,629,123 | €7,114,970 | +€485,848 | +7.3% |
| Fixed assets | 21/28 | €1,027,750 | €1,027,750 | = | 0.0% |
| Financial fixed assets | 28 | €1,027,750 | €1,027,750 | = | 0.0% |
| Current assets | 29/58 | €5,601,373 | €6,087,220 | +€485,848 | +8.7% |
| Amounts receivable after more than one year | 29 | €5,358,203 | €5,778,703 | +€420,500 | +7.8% |
| Other amounts receivable | 291 | €5,358,203 | €5,778,703 | +€420,500 | +7.8% |
| Amounts receivable within one year | 40/41 | €192,046 | €286,427 | +€94,381 | +49.1% |
| Trade receivables | 40 | €116,294 | €173,972 | +€57,678 | +49.6% |
| Other amounts receivable | 41 | €75,753 | €112,455 | +€36,702 | +48.5% |
| Cash at bank and in hand | 54/58 | €49,792 | €20,749 | -€29,043 | -58.3% |
| Deferred charges and accrued income | 490/1 | €1,332 | €1,342 | +€11 | +0.8% |
| Total equity and liabilities | 10/49 | €6,629,123 | €7,114,970 | +€485,848 | +7.3% |
| Equity | 10/15 | €653,586 | €690,968 | +€37,383 | +5.7% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €584,836 | €622,218 | +€37,383 | +6.4% |
| Provisions and deferred taxes | 16 | €985 | €1,029 | +€44 | +4.5% |
| Provisions for liabilities and charges | 160/5 | €985 | €1,029 | +€44 | +4.5% |
| Other liabilities and charges | 164/5 | €985 | €1,029 | +€44 | +4.5% |
| Amounts payable | 17/49 | €5,974,552 | €6,422,972 | +€448,421 | +7.5% |
| Amounts payable after more than one year | 17 | €5,526,027 | €5,808,027 | +€282,000 | +5.1% |
| Other amounts payable | 178/9 | €5,526,027 | €5,808,027 | +€282,000 | +5.1% |
| Amounts payable within one year | 42/48 | €448,525 | €614,945 | +€166,421 | +37.1% |
| Trade debts | 44 | €366,019 | €522,384 | +€156,364 | +42.7% |
| Suppliers | 440/4 | €366,019 | €522,384 | +€156,364 | +42.7% |
| Taxes, remuneration and social security | 45 | €25,067 | €41,498 | +€16,431 | +65.6% |
| Taxes | 450/3 | €11,850 | €27,872 | +€16,022 | +135.2% |
| Remuneration and social security | 454/9 | €13,217 | €13,626 | +€410 | +3.1% |
| Other amounts payable | 47/48 | €57,439 | €51,064 | -€6,375 | -11.1% |
| Remuneration, social security and pensions | 62 | €105,323 | €112,125 | +€6,801 | +6.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8 | €44 | +€52 | |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €127,172 | €133,121 | +€5,949 | +4.7% |
| Operating profit (loss) | 9901 | €20,889 | €19,954 | -€935 | -4.5% |
| Financial income | 75/76B | €170,235 | €204,388 | +€34,153 | +20.1% |
| Recurring financial income | 75 | €170,235 | €204,388 | +€34,153 | +20.1% |
| Financial charges | 65/66B | €174,524 | €171,665 | -€2,859 | -1.6% |
| Recurring financial charges | 65 | €174,524 | €171,665 | -€2,859 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €16,600 | €52,677 | +€36,077 | +217.3% |
| Income taxes | 67/77 | €567 | €15,294 | +€14,727 | +2598.7% |
| Profit (loss) for the period | 9904 | €16,033 | €37,383 | +€21,349 | +133.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,033 | €37,383 | +€21,349 | +133.2% |
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 4 October 2026 via checked.be.