EL ARZ: what changed
Two fiscal 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.
EL ARZ
Largest movements
- Stocks and contracts -€9,824
down €9,824 (-42.6%), from €23,041 to €13,217
- Receivables within one year +€1,573
up €1,573 (+36.5%), from €4,306 to €5,879
of which Trade receivables: +€1,290
- Financial fixed assets +€1,000
new in 2025: €1,000
- Cash -€913
down €913 (-43.6%), from €2,095 to €1,182
mainly Other debts (-€9,993) and Net result for the year (-€8,552)
- Other debts -€9,993
down €9,993 (-32.0%), from €31,202 to €21,209
- Profit (loss) carried forward -€8,552
down €8,552 (-174.0%), from -€4,915 to -€13,466
- Trade debts +€7,212
up €7,212 (+410.0%), from €1,759 to €8,971
- Contributions +€4,000
new in 2025: €4,000
- Tax, wage and social debts -€831
down €831 (-59.5%), from €1,395 to €565
- Purchases and services -€12,863
no longer reported in 2025 (was €12,863)
- Turnover -€8,135
no longer reported in 2025 (was €8,135)
- Gross operating margin -€3,699
down €3,699 (-78.2%), from -€4,728 to -€8,427
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 | €29,442 | €21,278 | -€8,163 | -27.7% |
| Fixed assets | 21/28 | - | €1,000 | +€1,000 | |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €29,442 | €20,278 | -€9,163 | -31.1% |
| Stocks and contracts in progress | 3 | €23,041 | €13,217 | -€9,824 | -42.6% |
| Stocks | 30/36 | €23,041 | €13,217 | -€9,824 | -42.6% |
| Amounts receivable within one year | 40/41 | €4,306 | €5,879 | +€1,573 | +36.5% |
| Trade receivables | 40 | €4,306 | €5,596 | +€1,290 | +29.9% |
| Other amounts receivable | 41 | - | €284 | +€284 | |
| Cash at bank and in hand | 54/58 | €2,095 | €1,182 | -€913 | -43.6% |
| Total equity and liabilities | 10/49 | €29,442 | €21,278 | -€8,163 | -27.7% |
| Equity | 10/15 | -€4,915 | -€9,466 | -€4,552 | -92.6% |
| Contributions | 10/11 | - | €4,000 | +€4,000 | |
| Profit (loss) carried forward | 14 | -€4,915 | -€13,466 | -€8,552 | -174.0% |
| Amounts payable | 17/49 | €34,356 | €30,745 | -€3,612 | -10.5% |
| Amounts payable within one year | 42/48 | €34,356 | €30,745 | -€3,612 | -10.5% |
| Trade debts | 44 | €1,759 | €8,971 | +€7,212 | +410.0% |
| Suppliers | 440/4 | €1,759 | €8,971 | +€7,212 | +410.0% |
| Taxes, remuneration and social security | 45 | €1,395 | €565 | -€831 | -59.5% |
| Taxes | 450/3 | €1,395 | €565 | -€831 | -59.5% |
| Other amounts payable | 47/48 | €31,202 | €21,209 | -€9,993 | -32.0% |
| Turnover | 70 | €8,135 | - | -€8,135 | |
| Goods, raw materials, services and sundry goods | 60/61 | €12,863 | - | -€12,863 | |
| Gross operating margin | 9900 | -€4,728 | -€8,427 | -€3,699 | -78.2% |
| Operating profit (loss) | 9901 | -€4,728 | -€8,427 | -€3,699 | -78.2% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €187 | €128 | -€60 | -31.9% |
| Recurring financial charges | 65 | €187 | €128 | -€60 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,915 | -€8,552 | -€3,637 | -74.0% |
| Profit (loss) for the period | 9904 | -€4,915 | -€8,552 | -€3,637 | -74.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,915 | -€8,552 | -€3,637 | -74.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.