ARWEN CONSULT: 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.
ARWEN CONSULT
Largest movements
- Cash +€32,207
up €32,207 (+38.0%), from €84,652 to €116,859
mainly Net result for the year (+€42,050) and Depreciation (+€19,171)
- Receivables within one year -€19,075
down €19,075 (-45.9%), from €41,542 to €22,467
of which Trade receivables: -€18,654
- Tangible fixed assets -€11,433
down €11,433 (-5.2%), from €218,861 to €207,428
of which Land and buildings: -€10,670
- Reserves +€22,000
up €22,000 (+10.8%), from €203,360 to €225,360
of which Distributable reserves: +€22,000
- Tax, wage and social debts -€8,119
down €8,119 (-65.9%), from €12,319 to €4,200
of which Taxes: -€5,166
- Trade debts -€6,648
down €6,648 (-42.8%), from €15,532 to €8,883
- Debts after one year -€5,600
down €5,600 (-20.0%), from €27,988 to €22,389
of which Financial debts: -€5,600
- Gross operating margin -€42,269
down €42,269 (-34.7%), from €121,873 to €79,605
- Taxes -€12,110
down €12,110 (-41.2%), from €29,403 to €17,293
- Depreciation +€1,690
up €1,690 (+9.7%), from €17,481 to €19,171
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 | €349,380 | €350,570 | +€1,190 | +0.3% |
| Formation expenses | 20 | €3,609 | €3,132 | -€477 | -13.2% |
| Fixed assets | 21/28 | €218,861 | €207,428 | -€11,433 | -5.2% |
| Tangible fixed assets | 22/27 | €218,861 | €207,428 | -€11,433 | -5.2% |
| Land and buildings | 22 | €217,370 | €206,700 | -€10,670 | -4.9% |
| Plant, machinery and equipment | 23 | €594 | €323 | -€271 | -45.6% |
| Furniture and vehicles | 24 | €897 | €405 | -€493 | -54.9% |
| Current assets | 29/58 | €126,910 | €140,010 | +€13,101 | +10.3% |
| Amounts receivable within one year | 40/41 | €41,542 | €22,467 | -€19,075 | -45.9% |
| Trade receivables | 40 | €19,238 | €584 | -€18,654 | -97.0% |
| Other amounts receivable | 41 | €22,305 | €21,883 | -€422 | -1.9% |
| Cash at bank and in hand | 54/58 | €84,652 | €116,859 | +€32,207 | +38.0% |
| Deferred charges and accrued income | 490/1 | €716 | €684 | -€32 | -4.4% |
| Total equity and liabilities | 10/49 | €349,380 | €350,570 | +€1,190 | +0.3% |
| Equity | 10/15 | €287,361 | €309,412 | +€22,050 | +7.7% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €203,360 | €225,360 | +€22,000 | +10.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €203,360 | €225,360 | +€22,000 | +10.8% |
| Profit (loss) carried forward | 14 | €84,001 | €84,052 | +€50 | +0.1% |
| Amounts payable | 17/49 | €62,018 | €41,159 | -€20,860 | -33.6% |
| Amounts payable after more than one year | 17 | €27,988 | €22,389 | -€5,600 | -20.0% |
| Financial debts | 170/4 | €26,608 | €21,009 | -€5,600 | -21.0% |
| Other amounts payable | 178/9 | €1,380 | €1,380 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,340 | €18,683 | -€14,657 | -44.0% |
| Current portion of amounts payable after more than one year | 42 | €5,489 | €5,600 | +€111 | +2.0% |
| Trade debts | 44 | €15,532 | €8,883 | -€6,648 | -42.8% |
| Suppliers | 440/4 | €15,532 | €8,883 | -€6,648 | -42.8% |
| Taxes, remuneration and social security | 45 | €12,319 | €4,200 | -€8,119 | -65.9% |
| Taxes | 450/3 | €9,366 | €4,200 | -€5,166 | -55.2% |
| Remuneration and social security | 454/9 | €2,954 | €0 | -€2,954 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €690 | €87 | -€603 | -87.4% |
| Non-recurring operating income | 76A | - | €251 | +€251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,481 | €19,171 | +€1,690 | +9.7% |
| Other operating charges | 640/8 | €1,046 | €949 | -€97 | -9.3% |
| Gross operating margin | 9900 | €121,873 | €79,605 | -€42,269 | -34.7% |
| Operating profit (loss) | 9901 | €103,346 | €59,485 | -€43,862 | -42.4% |
| Financial income | 75/76B | €411 | €699 | +€288 | +70.3% |
| Recurring financial income | 75 | €411 | €699 | +€288 | +70.3% |
| Financial charges | 65/66B | €1,015 | €841 | -€174 | -17.2% |
| Recurring financial charges | 65 | €1,015 | €841 | -€174 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €102,742 | €59,343 | -€43,399 | -42.2% |
| Income taxes | 67/77 | €29,403 | €17,293 | -€12,110 | -41.2% |
| Profit (loss) for the period | 9904 | €73,338 | €42,050 | -€31,288 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,338 | €42,050 | -€31,288 | -42.7% |
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 18 October 2026 via checked.be.