ARWOL: 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.
ARWOL
Largest movements
- Stocks and contracts -€6,482
down €6,482 (-7.4%), from €87,556 to €81,074
- Cash +€5,167
up €5,167 (+5.7%), from €91,131 to €96,298
mainly Stocks and contracts (+€6,482) and Trade debts (+€892)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€7,785
down €7,785 (-82.3%), from €9,456 to €1,672
- Taxes -€1,329
down €1,329 (-51.9%), from €2,561 to €1,231
- Other operating charges +€369
up €369 (+73.5%), from €502 to €872
- Depreciation -€205
down €205 (-41.7%), from €493 to €288
- Financial charges -€189
down €189 (-35.8%), from €529 to €339
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 | €197,217 | €195,026 | -€2,191 | -1.1% |
| Fixed assets | 21/28 | €288 | - | -€288 | |
| Tangible fixed assets | 22/27 | €288 | - | -€288 | |
| Furniture and vehicles | 24 | €288 | - | -€288 | |
| Current assets | 29/58 | €196,929 | €195,026 | -€1,904 | -1.0% |
| Stocks and contracts in progress | 3 | €87,556 | €81,074 | -€6,482 | -7.4% |
| Stocks | 30/36 | €87,556 | €81,074 | -€6,482 | -7.4% |
| Amounts receivable within one year | 40/41 | €14,795 | €14,305 | -€490 | -3.3% |
| Trade receivables | 40 | €14,146 | €11,901 | -€2,245 | -15.9% |
| Other amounts receivable | 41 | €649 | €2,404 | +€1,755 | +271% |
| Cash at bank and in hand | 54/58 | €91,131 | €96,298 | +€5,167 | +5.7% |
| Deferred charges and accrued income | 490/1 | €3,448 | €3,349 | -€99 | -2.9% |
| Total equity and liabilities | 10/49 | €197,217 | €195,026 | -€2,191 | -1.1% |
| Equity | 10/15 | €171,267 | €170,412 | -€854 | -0.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €25,069 | €25,069 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €23,210 | €23,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,605 | €126,751 | -€854 | -0.7% |
| Amounts payable | 17/49 | €25,950 | €24,614 | -€1,337 | -5.2% |
| Amounts payable within one year | 42/48 | €24,793 | €23,456 | -€1,338 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €1,030 | €913 | -€117 | -11.4% |
| Trade debts | 44 | €17,088 | €17,980 | +€892 | +5.2% |
| Suppliers | 440/4 | €17,088 | €17,980 | +€892 | +5.2% |
| Taxes, remuneration and social security | 45 | €5,538 | €4,563 | -€975 | -17.6% |
| Taxes | 450/3 | €5,538 | €4,563 | -€975 | -17.6% |
| Other amounts payable | 47/48 | €1,138 | - | -€1,138 | |
| Accrued charges and deferred income | 492/3 | €1,157 | €1,158 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €493 | €288 | -€205 | -41.7% |
| Other operating charges | 640/8 | €502 | €872 | +€369 | +73.5% |
| Gross operating margin | 9900 | €9,456 | €1,672 | -€7,785 | -82.3% |
| Operating profit (loss) | 9901 | €8,461 | €512 | -€7,948 | -93.9% |
| Financial income | 75/76B | €96 | €204 | +€108 | +112% |
| Recurring financial income | 75 | €96 | €204 | +€108 | +112% |
| Financial charges | 65/66B | €529 | €339 | -€189 | -35.8% |
| Recurring financial charges | 65 | €529 | €339 | -€189 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €8,029 | €377 | -€7,652 | -95.3% |
| Income taxes | 67/77 | €2,561 | €1,231 | -€1,329 | -51.9% |
| Profit (loss) for the period | 9904 | €5,468 | -€854 | -€6,323 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,468 | -€854 | -€6,323 |
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 14 October 2026 via checked.be.