ARZ TEAM: 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.
ARZ TEAM
Largest movements
- Stocks and contracts +€142,264
new in 2025: €142,264
- Cash -€30,641
down €30,641 (-94.3%), from €32,502 to €1,861
mainly Stocks and contracts (-€142,264) and Trade debts (-€66,099)
- Receivables within one year -€26,265
down €26,265 (-38.6%), from €68,125 to €41,860
of which Trade receivables: -€28,402
- Tangible fixed assets -€4,849
down €4,849 (-35.7%), from €13,601 to €8,752
of which Furniture and vehicles: -€4,279
- Debts after one year +€115,674
up €115,674 (+2,674%), from €4,326 to €120,000
- Trade debts -€66,099
down €66,099 (-89.0%), from €74,264 to €8,166
- Other debts +€40,050
up €40,050 (+912%), from €4,392 to €44,442
- Advances received -€5,000
no longer reported in 2025 (was €5,000)
- Current portion of long-term debt -€4,074
down €4,074 (-48.5%), from €8,400 to €4,326
- Gross operating margin -€40,247
down €40,247 (-72.9%), from €55,230 to €14,983
- Financial charges -€4,213
down €4,213 (-64.2%), from €6,560 to €2,347
- Other operating charges -€1,492
down €1,492 (-26.4%), from €5,652 to €4,160
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 | €116,252 | €196,762 | +€80,509 | +69.3% |
| Fixed assets | 21/28 | €15,626 | €10,777 | -€4,849 | -31.0% |
| Tangible fixed assets | 22/27 | €13,601 | €8,752 | -€4,849 | -35.7% |
| Plant, machinery and equipment | 23 | €1,490 | €1,028 | -€462 | -31.0% |
| Furniture and vehicles | 24 | €11,263 | €6,984 | -€4,279 | -38.0% |
| Other tangible fixed assets | 26 | €847 | €740 | -€108 | -12.7% |
| Financial fixed assets | 28 | €2,025 | €2,025 | = | 0.0% |
| Current assets | 29/58 | €100,627 | €185,985 | +€85,358 | +84.8% |
| Stocks and contracts in progress | 3 | - | €142,264 | +€142,264 | |
| Stocks | 30/36 | - | €142,264 | +€142,264 | |
| Amounts receivable within one year | 40/41 | €68,125 | €41,860 | -€26,265 | -38.6% |
| Trade receivables | 40 | €67,419 | €39,016 | -€28,402 | -42.1% |
| Other amounts receivable | 41 | €706 | €2,843 | +€2,138 | +303% |
| Cash at bank and in hand | 54/58 | €32,502 | €1,861 | -€30,641 | -94.3% |
| Total equity and liabilities | 10/49 | €116,252 | €196,762 | +€80,509 | +69.3% |
| Equity | 10/15 | €16,072 | €19,829 | +€3,757 | +23.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,072 | €16,829 | +€3,757 | +28.7% |
| Amounts payable | 17/49 | €100,180 | €176,933 | +€76,753 | +76.6% |
| Amounts payable after more than one year | 17 | €4,326 | €120,000 | +€115,674 | +2,674% |
| Financial debts | 170/4 | €4,326 | €120,000 | +€115,674 | +2,674% |
| Amounts payable within one year | 42/48 | €95,855 | €56,933 | -€38,922 | -40.6% |
| Current portion of amounts payable after more than one year | 42 | €8,400 | €4,326 | -€4,074 | -48.5% |
| Trade debts | 44 | €74,264 | €8,166 | -€66,099 | -89.0% |
| Suppliers | 440/4 | €74,264 | €8,166 | -€66,099 | -89.0% |
| Advances received on contracts in progress | 46 | €5,000 | - | -€5,000 | |
| Taxes, remuneration and social security | 45 | €3,798 | - | -€3,798 | |
| Taxes | 450/3 | €3,798 | - | -€3,798 | |
| Other amounts payable | 47/48 | €4,392 | €44,442 | +€40,050 | +912% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,083 | €4,849 | -€234 | -4.6% |
| Other operating charges | 640/8 | €5,652 | €4,160 | -€1,492 | -26.4% |
| Gross operating margin | 9900 | €55,230 | €14,983 | -€40,247 | -72.9% |
| Operating profit (loss) | 9901 | €44,496 | €5,974 | -€38,521 | -86.6% |
| Financial income | 75/76B | €218 | €130 | -€88 | -40.5% |
| Recurring financial income | 75 | €218 | €130 | -€88 | -40.5% |
| Financial charges | 65/66B | €6,560 | €2,347 | -€4,213 | -64.2% |
| Recurring financial charges | 65 | €6,560 | €2,347 | -€4,213 | -64.2% |
| Profit (loss) for the period before taxes | 9903 | €38,153 | €3,757 | -€34,397 | -90.2% |
| Profit (loss) for the period | 9904 | €38,153 | €3,757 | -€34,397 | -90.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,153 | €3,757 | -€34,397 | -90.2% |
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 21 October 2026 via checked.be.