S.A. ARNEL - IMMO: 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.
S.A. ARNEL - IMMO
Largest movements
- Tangible fixed assets +€404,001
up €404,001 (+13.5%), from €3.0m to €3.4m
- Other debts +€665,345
up €665,345 (+74.1%), from €897,423 to €1.6m
- Contributions -€312,406
down €312,406 (-83.6%), from €373,906 to €61,500
- Reserves +€39,493
up €39,493 (+2.4%), from €1.6m to €1.7m
of which Distributable reserves: +€56,680
- Gross operating margin -€40,809
down €40,809 (-9.2%), from €441,599 to €400,791
- Depreciation +€36,233
up €36,233 (+16.6%), from €218,533 to €254,765
- Taxes -€24,866
down €24,866 (-56.8%), from €43,760 to €18,893
- Other operating charges -€4,806
down €4,806 (-6.5%), from €73,649 to €68,844
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 | €3,145,708 | €3,564,171 | +€418,463 | +13.3% |
| Fixed assets | 21/28 | €2,999,235 | €3,403,236 | +€404,001 | +13.5% |
| Tangible fixed assets | 22/27 | €2,999,055 | €3,403,056 | +€404,001 | +13.5% |
| Land and buildings | 22 | €2,999,055 | €3,403,056 | +€404,001 | +13.5% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €146,474 | €160,936 | +€14,462 | +9.9% |
| Amounts receivable within one year | 40/41 | €96,452 | €98,279 | +€1,827 | +1.9% |
| Trade receivables | 40 | - | €6,132 | +€6,132 | |
| Other amounts receivable | 41 | €96,452 | €92,147 | -€4,305 | -4.5% |
| Cash at bank and in hand | 54/58 | €50,022 | €62,657 | +€12,635 | +25.3% |
| Total equity and liabilities | 10/49 | €3,145,708 | €3,564,171 | +€418,463 | +13.3% |
| Equity | 10/15 | €1,987,835 | €1,714,921 | -€272,914 | -13.7% |
| Contributions | 10/11 | €373,906 | €61,500 | -€312,406 | -83.6% |
| Capital | 10 | €373,906 | €61,500 | -€312,406 | -83.6% |
| Issued capital | 100 | €373,906 | €61,500 | -€312,406 | -83.6% |
| Reserves | 13 | €1,613,928 | €1,653,421 | +€39,493 | +2.4% |
| Non-distributable reserves | 130/1 | €37,391 | €37,391 | = | 0.0% |
| Legal reserve | 130 | €37,391 | €37,391 | = | 0.0% |
| Tax-exempt reserves | 132 | €221,194 | €204,006 | -€17,188 | -7.8% |
| Distributable reserves | 133 | €1,355,344 | €1,412,024 | +€56,680 | +4.2% |
| Provisions and deferred taxes | 16 | €113,897 | €105,047 | -€8,850 | -7.8% |
| Deferred taxes | 168 | €113,897 | €105,047 | -€8,850 | -7.8% |
| Amounts payable | 17/49 | €1,043,976 | €1,744,203 | +€700,227 | +67.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,041,406 | €1,740,223 | +€698,817 | +67.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €143,983 | €177,455 | +€33,472 | +23.2% |
| Suppliers | 440/4 | €143,983 | €177,455 | +€33,472 | +23.2% |
| Other amounts payable | 47/48 | €897,423 | €1,562,768 | +€665,345 | +74.1% |
| Accrued charges and deferred income | 492/3 | €2,570 | €3,980 | +€1,410 | +54.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,533 | €254,765 | +€36,233 | +16.6% |
| Other operating charges | 640/8 | €73,649 | €68,844 | -€4,806 | -6.5% |
| Non-recurring operating charges | 66A | - | €26,317 | +€26,317 | |
| Gross operating margin | 9900 | €441,599 | €400,791 | -€40,809 | -9.2% |
| Operating profit (loss) | 9901 | €149,418 | €50,865 | -€98,553 | -66.0% |
| Financial charges | 65/66B | €1,659 | €1,329 | -€330 | -19.9% |
| Recurring financial charges | 65 | €1,659 | €1,329 | -€330 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €147,759 | €49,536 | -€98,223 | -66.5% |
| Transfer from deferred taxes | 780 | €8,850 | €8,850 | = | 0.0% |
| Income taxes | 67/77 | €43,760 | €18,893 | -€24,866 | -56.8% |
| Profit (loss) for the period | 9904 | €112,850 | €39,493 | -€73,357 | -65.0% |
| Transfer from tax-exempt reserves | 789 | €17,188 | €17,188 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €130,037 | €56,680 | -€73,357 | -56.4% |
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 19 October 2026 via checked.be.