ARZOVA: 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.
ARZOVA
Largest movements
- Tangible fixed assets -€25,445
down €25,445 (-6.9%), from €366,485 to €341,040
- Debts after one year -€21,667
down €21,667 (-39.6%), from €54,750 to €33,083
- Gross operating margin +€5,161
up €5,161 (+17.4%), from €29,695 to €34,855
- Depreciation -€4,266
down €4,266 (-12.5%), from €34,245 to €29,979
- Financial charges -€2,113
down €2,113 (-42.9%), from €4,926 to €2,813
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 | €370,352 | €346,321 | -€24,032 | -6.5% |
| Fixed assets | 21/28 | €366,485 | €341,040 | -€25,445 | -6.9% |
| Tangible fixed assets | 22/27 | €366,485 | €341,040 | -€25,445 | -6.9% |
| Land and buildings | 22 | €366,485 | €341,040 | -€25,445 | -6.9% |
| Current assets | 29/58 | €3,868 | €5,281 | +€1,414 | +36.5% |
| Cash at bank and in hand | 54/58 | €3,749 | €5,155 | +€1,406 | +37.5% |
| Deferred charges and accrued income | 490/1 | €119 | €126 | +€7 | +6.1% |
| Total equity and liabilities | 10/49 | €370,352 | €346,321 | -€24,032 | -6.5% |
| Equity | 10/15 | -€299,283 | -€301,540 | -€2,257 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€317,883 | -€320,140 | -€2,257 | -0.7% |
| Amounts payable | 17/49 | €669,635 | €647,860 | -€21,775 | -3.3% |
| Amounts payable after more than one year | 17 | €54,750 | €33,083 | -€21,667 | -39.6% |
| Financial debts | 170/4 | €54,750 | €33,083 | -€21,667 | -39.6% |
| Amounts payable within one year | 42/48 | €614,885 | €614,777 | -€108 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €21,667 | €21,667 | = | 0.0% |
| Trade debts | 44 | €173 | €0 | -€173 | -100.0% |
| Suppliers | 440/4 | €173 | €0 | -€173 | -100.0% |
| Other amounts payable | 47/48 | €593,046 | €593,111 | +€64 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,245 | €29,979 | -€4,266 | -12.5% |
| Other operating charges | 640/8 | €4,190 | €4,320 | +€130 | +3.1% |
| Gross operating margin | 9900 | €29,695 | €34,855 | +€5,161 | +17.4% |
| Operating profit (loss) | 9901 | -€8,741 | €556 | +€9,297 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €4,926 | €2,813 | -€2,113 | -42.9% |
| Recurring financial charges | 65 | €4,926 | €2,813 | -€2,113 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,666 | -€2,257 | +€11,410 | +83.5% |
| Profit (loss) for the period | 9904 | -€13,666 | -€2,257 | +€11,410 | +83.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,666 | -€2,257 | +€11,410 | +83.5% |
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 9 October 2026 via checked.be.