De Arend: what changed
De Arend
Largest movements
- Current investments +€944,526
up €944,526 (+100%), from €940,000 to €1.9m
- Cash -€915,783
down €915,783 (-67.6%), from €1.4m to €438,301
mainly Current investments (-€944,526) and Other debts (-€538,534)
- Reserves +€601,464
up €601,464 (+15.6%), from €3.9m to €4.5m
of which Distributable reserves: +€601,464
- Other debts -€538,534
down €538,534 (-60.6%), from €888,882 to €350,347
- Financial income +€77,969
up €77,969 (+24.2%), from €321,871 to €399,840
- Taxes -€51,554
down €51,554 (-41.3%), from €124,948 to €73,395
- Financial charges +€10,572
up €10,572 (+42.4%), from €24,951 to €35,523
- Gross operating margin +€9,137
up €9,137 (+2.7%), from €340,093 to €349,229
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,942,539 | €5,972,026 | +€29,486 | +0.5% |
| Fixed assets | 21/28 | €3,597,706 | €3,597,706 | = | 0.0% |
| Financial fixed assets | 28 | €3,597,706 | €3,597,706 | = | 0.0% |
| Current assets | 29/58 | €2,344,833 | €2,374,320 | +€29,486 | +1.3% |
| Amounts receivable within one year | 40/41 | €50,749 | €51,492 | +€743 | +1.5% |
| Trade receivables | 40 | €39,325 | €39,325 | = | 0.0% |
| Other amounts receivable | 41 | €11,424 | €12,167 | +€743 | +6.5% |
| Current investments | 50/53 | €940,000 | €1,884,526 | +€944,526 | +100% |
| Cash at bank and in hand | 54/58 | €1,354,084 | €438,301 | -€915,783 | -67.6% |
| Total equity and liabilities | 10/49 | €5,942,539 | €5,972,026 | +€29,486 | +0.5% |
| Equity | 10/15 | €4,902,196 | €5,503,659 | +€601,464 | +12.3% |
| Contributions | 10/11 | €1,045,000 | €1,045,000 | = | 0.0% |
| Reserves | 13 | €3,857,196 | €4,458,659 | +€601,464 | +15.6% |
| Non-distributable reserves | 130/1 | €940,000 | €940,000 | = | 0.0% |
| Own shares acquired | 1312 | €940,000 | €940,000 | = | 0.0% |
| Distributable reserves | 133 | €2,917,196 | €3,518,659 | +€601,464 | +20.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,040,344 | €468,366 | -€571,977 | -55.0% |
| Amounts payable within one year | 42/48 | €1,014,203 | €438,347 | -€575,856 | -56.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €779 | €0 | -€779 | -100% |
| Suppliers | 440/4 | €779 | €0 | -€779 | -100% |
| Taxes, remuneration and social security | 45 | €124,542 | €88,000 | -€36,542 | -29.3% |
| Taxes | 450/3 | €122,242 | €85,700 | -€36,542 | -29.9% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €888,882 | €350,347 | -€538,534 | -60.6% |
| Accrued charges and deferred income | 492/3 | €26,140 | €30,019 | +€3,879 | +14.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €340,093 | €349,229 | +€9,137 | +2.7% |
| Operating profit (loss) | 9901 | €339,967 | €349,101 | +€9,135 | +2.7% |
| Financial income | 75/76B | €321,871 | €399,840 | +€77,969 | +24.2% |
| Recurring financial income | 75 | €321,871 | €399,840 | +€77,969 | +24.2% |
| Financial charges | 65/66B | €24,951 | €35,523 | +€10,572 | +42.4% |
| Recurring financial charges | 65 | €24,951 | €35,523 | +€10,572 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €636,887 | €713,418 | +€76,531 | +12.0% |
| Income taxes | 67/77 | €124,948 | €73,395 | -€51,554 | -41.3% |
| Profit (loss) for the period | 9904 | €511,939 | €640,024 | +€128,085 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €511,939 | €640,024 | +€128,085 | +25.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.