ARNOU: 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.
ARNOU
Largest movements
- Cash -€22,778
down €22,778 (-39.4%), from €57,817 to €35,040
mainly Investment in fixed assets (net) (-€55,522) and Net result for the year (-€30,815)
- Stocks and contracts +€20,000
up €20,000 (+158%), from €12,661 to €32,661
- Receivables within one year +€15,672
up €15,672 (+56.9%), from €27,556 to €43,228
of which Trade receivables: +€9,693
- Tangible fixed assets -€4,420
down €4,420 (-3.0%), from €146,669 to €142,249
of which Furniture and vehicles: -€3,422
- Intangible fixed assets -€4,187
down €4,187 (-13.3%), from €31,405 to €27,218
- Profit (loss) carried forward -€30,815
down €30,815 (-124%), from -€24,920 to -€55,734
- Debts after one year +€22,409
new in 2025: €22,409
- Current portion of long-term debt +€9,745
new in 2025: €9,745
- Tax, wage and social debts +€6,840
up €6,840 (+132%), from €5,191 to €12,031
- Trade debts -€5,463
down €5,463 (-34.0%), from €16,090 to €10,627
- Gross operating margin -€39,613
down €39,613 (-45.4%), from €87,288 to €47,675
- Taxes -€10,304
down €10,304 (-86.6%), from €11,903 to €1,599
- Depreciation +€7,272
up €7,272 (+12.8%), from €56,857 to €64,129
- Financial charges +€1,338
up €1,338 (+15.2%), from €8,790 to €10,128
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 | €286,348 | €288,336 | +€1,988 | +0.7% |
| Fixed assets | 21/28 | €182,817 | €174,210 | -€8,607 | -4.7% |
| Intangible fixed assets | 21 | €31,405 | €27,218 | -€4,187 | -13.3% |
| Tangible fixed assets | 22/27 | €146,669 | €142,249 | -€4,420 | -3.0% |
| Plant, machinery and equipment | 23 | €2,962 | €1,964 | -€998 | -33.7% |
| Furniture and vehicles | 24 | €143,707 | €140,285 | -€3,422 | -2.4% |
| Financial fixed assets | 28 | €4,743 | €4,743 | = | 0.0% |
| Current assets | 29/58 | €103,531 | €114,127 | +€10,595 | +10.2% |
| Stocks and contracts in progress | 3 | €12,661 | €32,661 | +€20,000 | +158% |
| Stocks | 30/36 | €12,661 | €32,661 | +€20,000 | +158% |
| Amounts receivable within one year | 40/41 | €27,556 | €43,228 | +€15,672 | +56.9% |
| Trade receivables | 40 | €17,685 | €27,378 | +€9,693 | +54.8% |
| Other amounts receivable | 41 | €9,871 | €15,850 | +€5,979 | +60.6% |
| Cash at bank and in hand | 54/58 | €57,817 | €35,040 | -€22,778 | -39.4% |
| Deferred charges and accrued income | 490/1 | €5,497 | €3,199 | -€2,299 | -41.8% |
| Total equity and liabilities | 10/49 | €286,348 | €288,336 | +€1,988 | +0.7% |
| Equity | 10/15 | -€10,660 | -€41,475 | -€30,815 | -289% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 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% |
| Profit (loss) carried forward | 14 | -€24,920 | -€55,734 | -€30,815 | -124% |
| Amounts payable | 17/49 | €297,009 | €329,812 | +€32,803 | +11.0% |
| Amounts payable after more than one year | 17 | - | €22,409 | +€22,409 | |
| Financial debts | 170/4 | - | €22,409 | +€22,409 | |
| Amounts payable within one year | 42/48 | €297,009 | €307,403 | +€10,394 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,745 | +€9,745 | |
| Financial debts | 43 | €275,000 | €275,000 | = | 0.0% |
| Other loans | 439 | €275,000 | €275,000 | = | 0.0% |
| Trade debts | 44 | €16,090 | €10,627 | -€5,463 | -34.0% |
| Suppliers | 440/4 | €16,090 | €10,627 | -€5,463 | -34.0% |
| Taxes, remuneration and social security | 45 | €5,191 | €12,031 | +€6,840 | +132% |
| Taxes | 450/3 | €5,191 | €12,031 | +€6,840 | +132% |
| Other amounts payable | 47/48 | €728 | - | -€728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,857 | €64,129 | +€7,272 | +12.8% |
| Other operating charges | 640/8 | €2,612 | €2,633 | +€22 | +0.8% |
| Gross operating margin | 9900 | €87,288 | €47,675 | -€39,613 | -45.4% |
| Operating profit (loss) | 9901 | €27,819 | -€19,088 | -€46,907 | |
| Financial charges | 65/66B | €8,790 | €10,128 | +€1,338 | +15.2% |
| Recurring financial charges | 65 | €8,790 | €10,128 | +€1,338 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | €19,029 | -€29,216 | -€48,245 | |
| Income taxes | 67/77 | €11,903 | €1,599 | -€10,304 | -86.6% |
| Profit (loss) for the period | 9904 | €7,127 | -€30,815 | -€37,942 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,127 | -€30,815 | -€37,942 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.