ARB: 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.
ARB
Largest movements
- Cash -€111,949
down €111,949 (-23.5%), from €476,954 to €365,004
mainly Contributions, distributions and other (-€335,000) and Current investments (-€50,000)
- Current investments +€50,000
new in 2026: €50,000
- Tangible fixed assets -€10,788
down €10,788 (-16.4%), from €65,666 to €54,879
- Other debts +€226,782
up €226,782 (+209%), from €108,545 to €335,328
- Reserves -€212,500
down €212,500 (-57.4%), from €369,947 to €157,447
of which Distributable reserves: -€212,500
- Profit (loss) carried forward -€93,922
down €93,922 (-92.3%), from €101,787 to €7,864
- Turnover +€3,279
up €3,279 (+5.3%), from €61,819 to €65,098
- Gross operating margin +€2,871
up €2,871 (+5.1%), from €55,806 to €58,677
- Taxes +€1,094
up €1,094 (+8.8%), from €12,448 to €13,542
- Financial income -€672
down €672 (-32.0%), from €2,103 to €1,431
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €645,115 | €568,420 | -€76,695 | -11.9% |
| Fixed assets | 21/28 | €135,666 | €124,879 | -€10,788 | -8.0% |
| Tangible fixed assets | 22/27 | €65,666 | €54,879 | -€10,788 | -16.4% |
| Land and buildings | 22 | €65,666 | €54,879 | -€10,788 | -16.4% |
| Financial fixed assets | 28 | €70,000 | €70,000 | = | 0.0% |
| Current assets | 29/58 | €509,449 | €443,541 | -€65,907 | -12.9% |
| Amounts receivable within one year | 40/41 | €28,826 | €24,789 | -€4,037 | -14.0% |
| Other amounts receivable | 41 | €28,826 | €24,789 | -€4,037 | -14.0% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €476,954 | €365,004 | -€111,949 | -23.5% |
| Deferred charges and accrued income | 490/1 | €3,669 | €3,748 | +€78 | +2.1% |
| Total equity and liabilities | 10/49 | €645,115 | €568,420 | -€76,695 | -11.9% |
| Equity | 10/15 | €533,234 | €226,812 | -€306,422 | -57.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €369,947 | €157,447 | -€212,500 | -57.4% |
| Non-distributable reserves | 130/1 | €21,000 | €21,000 | = | 0.0% |
| Legal reserve | 130 | €21,000 | €21,000 | = | 0.0% |
| Distributable reserves | 133 | €348,947 | €136,447 | -€212,500 | -60.9% |
| Profit (loss) carried forward | 14 | €101,787 | €7,864 | -€93,922 | -92.3% |
| Amounts payable | 17/49 | €111,881 | €341,609 | +€229,727 | +205% |
| Amounts payable within one year | 42/48 | €111,881 | €341,609 | +€229,727 | +205% |
| Trade debts | 44 | €3,336 | €169 | -€3,167 | -94.9% |
| Suppliers | 440/4 | €3,336 | €169 | -€3,167 | -94.9% |
| Taxes, remuneration and social security | 45 | - | €6,112 | +€6,112 | |
| Taxes | 450/3 | - | €6,112 | +€6,112 | |
| Other amounts payable | 47/48 | €108,545 | €335,328 | +€226,782 | +209% |
| Turnover | 70 | €61,819 | €65,098 | +€3,279 | +5.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €6,013 | €6,421 | +€408 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,111 | €10,788 | -€324 | -2.9% |
| Other operating charges | 640/8 | €6,892 | €7,108 | +€216 | +3.1% |
| Gross operating margin | 9900 | €55,806 | €58,677 | +€2,871 | +5.1% |
| Operating profit (loss) | 9901 | €37,802 | €40,781 | +€2,979 | +7.9% |
| Financial income | 75/76B | €2,103 | €1,431 | -€672 | -32.0% |
| Recurring financial income | 75 | €2,103 | €1,431 | -€672 | -32.0% |
| Financial charges | 65/66B | €114 | €93 | -€21 | -18.1% |
| Recurring financial charges | 65 | €114 | €93 | -€21 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €39,792 | €42,119 | +€2,327 | +5.8% |
| Income taxes | 67/77 | €12,448 | €13,542 | +€1,094 | +8.8% |
| Profit (loss) for the period | 9904 | €27,344 | €28,578 | +€1,234 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,344 | €28,578 | +€1,234 | +4.5% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.