ArXs: 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.
ArXs
Largest movements
- Cash +€46,805
up €46,805 (+55.0%), from €85,095 to €131,900
mainly Accrued charges and deferred income (+€92,173) and Depreciation (+€43,555)
- Receivables within one year +€36,456
up €36,456 (+112%), from €32,662 to €69,118
of which Trade receivables: +€35,204
- Intangible fixed assets +€20,418
up €20,418 (+7.9%), from €258,508 to €278,926
- Deferred charges and accrued income -€5,312
down €5,312 (-58.6%), from €9,067 to €3,755
- Accrued charges and deferred income +€92,173
up €92,173 (+46.0%), from €200,586 to €292,759
- Other debts +€30,000
up €30,000 (+975%), from €3,076 to €33,076
- Debts after one year -€15,242
down €15,242 (-24.2%), from €62,888 to €47,646
- Trade debts -€14,916
down €14,916 (-26.7%), from €55,965 to €41,049
- Gross operating margin +€26,737
up €26,737 (+46.6%), from €57,387 to €84,124
- Depreciation -€1,490
down €1,490 (-3.3%), from €45,045 to €43,555
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 | €385,712 | €485,076 | +€99,364 | +25.8% |
| Fixed assets | 21/28 | €258,888 | €280,303 | +€21,415 | +8.3% |
| Intangible fixed assets | 21 | €258,508 | €278,926 | +€20,418 | +7.9% |
| Tangible fixed assets | 22/27 | €380 | €1,377 | +€997 | +262% |
| Furniture and vehicles | 24 | €380 | €1,377 | +€997 | +262% |
| Current assets | 29/58 | €126,824 | €204,773 | +€77,950 | +61.5% |
| Amounts receivable within one year | 40/41 | €32,662 | €69,118 | +€36,456 | +112% |
| Trade receivables | 40 | €23,327 | €58,531 | +€35,204 | +151% |
| Other amounts receivable | 41 | €9,335 | €10,587 | +€1,252 | +13.4% |
| Cash at bank and in hand | 54/58 | €85,095 | €131,900 | +€46,805 | +55.0% |
| Deferred charges and accrued income | 490/1 | €9,067 | €3,755 | -€5,312 | -58.6% |
| Total equity and liabilities | 10/49 | €385,712 | €485,076 | +€99,364 | +25.8% |
| Equity | 10/15 | €45,211 | €51,015 | +€5,804 | +12.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | - | €1,015 | +€1,015 | |
| Distributable reserves | 133 | - | €1,015 | +€1,015 | |
| Profit (loss) carried forward | 14 | -€4,789 | - | +€4,789 | |
| Amounts payable | 17/49 | €340,501 | €434,061 | +€93,560 | +27.5% |
| Amounts payable after more than one year | 17 | €62,888 | €47,646 | -€15,242 | -24.2% |
| Financial debts | 170/4 | €62,888 | €47,646 | -€15,242 | -24.2% |
| Amounts payable within one year | 42/48 | €77,027 | €93,656 | +€16,629 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €14,985 | €15,242 | +€257 | +1.7% |
| Trade debts | 44 | €55,965 | €41,049 | -€14,916 | -26.7% |
| Suppliers | 440/4 | €55,965 | €41,049 | -€14,916 | -26.7% |
| Taxes, remuneration and social security | 45 | €3,001 | €4,289 | +€1,288 | +42.9% |
| Taxes | 450/3 | €3,001 | €4,289 | +€1,288 | +42.9% |
| Other amounts payable | 47/48 | €3,076 | €33,076 | +€30,000 | +975% |
| Accrued charges and deferred income | 492/3 | €200,586 | €292,759 | +€92,173 | +46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,045 | €43,555 | -€1,490 | -3.3% |
| Other operating charges | 640/8 | €479 | €174 | -€305 | -63.7% |
| Gross operating margin | 9900 | €57,387 | €84,124 | +€26,737 | +46.6% |
| Operating profit (loss) | 9901 | €11,863 | €40,395 | +€28,533 | +241% |
| Financial income | 75/76B | €23 | €15 | -€8 | -36.0% |
| Recurring financial income | 75 | €23 | €15 | -€8 | -36.0% |
| Financial charges | 65/66B | €2,188 | €1,818 | -€370 | -16.9% |
| Recurring financial charges | 65 | €2,188 | €1,818 | -€370 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €9,697 | €38,592 | +€28,895 | +298% |
| Income taxes | 67/77 | €3,001 | €2,788 | -€213 | -7.1% |
| Profit (loss) for the period | 9904 | €6,696 | €35,804 | +€29,108 | +435% |
| Profit (loss) for the period to be appropriated | 9905 | €6,696 | €35,804 | +€29,108 | +435% |
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 14 October 2026 via checked.be.