ARBASAN: 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.
ARBASAN
Largest movements
- Financial fixed assets +€970,000
new in 2025: €970,000
- Tangible fixed assets -€34,116
down €34,116 (-9.1%), from €375,814 to €341,698
of which Other tangible fixed assets: -€17,556
- Receivables within one year +€25,210
up €25,210 (+83.9%), from €30,059 to €55,268
of which Trade receivables: +€25,210
- Cash -€20,161
down €20,161 (-34.1%), from €59,074 to €38,913
mainly Investment in fixed assets (net) (-€970,000) and Other debts (-€64,992)
- Debts after one year +€589,501
up €589,501 (+203%), from €290,391 to €879,892
- Profit (loss) carried forward +€225,914
up €225,914 (+30,508%), from €741 to €226,654
- Current portion of long-term debt +€186,870
up €186,870 (+652%), from €28,662 to €215,532
- Other debts -€64,992
down €64,992 (-89.0%), from €73,032 to €8,039
- Gross operating margin +€254,421
up €254,421 (+301%), from €84,541 to €338,961
- Taxes +€61,435
up €61,435 (+780%), from €7,872 to €69,307
- Financial income +€30,655
up €30,655 (+300,540%), from €10 to €30,665
- Financial charges +€29,369
up €29,369 (+390%), from €7,525 to €36,894
- Depreciation -€17,058
down €17,058 (-33.3%), from €51,174 to €34,116
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 | €466,104 | €1,408,709 | +€942,605 | +202% |
| Fixed assets | 21/28 | €375,814 | €1,311,698 | +€935,884 | +249% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €375,814 | €341,698 | -€34,116 | -9.1% |
| Plant, machinery and equipment | 23 | €4,470 | €3,083 | -€1,387 | -31.0% |
| Furniture and vehicles | 24 | €26,225 | €11,052 | -€15,173 | -57.9% |
| Other tangible fixed assets | 26 | €345,119 | €327,563 | -€17,556 | -5.1% |
| Financial fixed assets | 28 | - | €970,000 | +€970,000 | |
| Current assets | 29/58 | €90,290 | €97,011 | +€6,721 | +7.4% |
| Amounts receivable within one year | 40/41 | €30,059 | €55,268 | +€25,210 | +83.9% |
| Trade receivables | 40 | €30,059 | €55,268 | +€25,210 | +83.9% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €59,074 | €38,913 | -€20,161 | -34.1% |
| Deferred charges and accrued income | 490/1 | €1,157 | €2,829 | +€1,673 | +145% |
| Total equity and liabilities | 10/49 | €466,104 | €1,408,709 | +€942,605 | +202% |
| Equity | 10/15 | €55,701 | €281,614 | +€225,914 | +406% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,360 | €36,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €34,500 | €34,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €741 | €226,654 | +€225,914 | +30,508% |
| Amounts payable | 17/49 | €410,403 | €1,127,095 | +€716,692 | +175% |
| Amounts payable after more than one year | 17 | €290,391 | €879,892 | +€589,501 | +203% |
| Financial debts | 170/4 | €290,391 | €879,892 | +€589,501 | +203% |
| Amounts payable within one year | 42/48 | €120,012 | €247,203 | +€127,190 | +106% |
| Current portion of amounts payable after more than one year | 42 | €28,662 | €215,532 | +€186,870 | +652% |
| Trade debts | 44 | €1,017 | €404 | -€612 | -60.2% |
| Suppliers | 440/4 | €1,017 | €404 | -€612 | -60.2% |
| Taxes, remuneration and social security | 45 | €17,302 | €23,227 | +€5,925 | +34.2% |
| Taxes | 450/3 | €17,302 | €23,227 | +€5,925 | +34.2% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €73,032 | €8,039 | -€64,992 | -89.0% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,174 | €34,116 | -€17,058 | -33.3% |
| Other operating charges | 640/8 | €3,300 | €3,396 | +€96 | +2.9% |
| Gross operating margin | 9900 | €84,541 | €338,961 | +€254,421 | +301% |
| Operating profit (loss) | 9901 | €30,067 | €301,450 | +€271,383 | +903% |
| Financial income | 75/76B | €10 | €30,665 | +€30,655 | +300,540% |
| Recurring financial income | 75 | €10 | €30,665 | +€30,655 | +300,540% |
| Financial charges | 65/66B | €7,525 | €36,894 | +€29,369 | +390% |
| Recurring financial charges | 65 | €7,525 | €36,894 | +€29,369 | +390% |
| Profit (loss) for the period before taxes | 9903 | €22,552 | €295,221 | +€272,669 | +1,209% |
| Income taxes | 67/77 | €7,872 | €69,307 | +€61,435 | +780% |
| Profit (loss) for the period | 9904 | €14,680 | €225,914 | +€211,234 | +1,439% |
| Profit (loss) for the period to be appropriated | 9905 | €14,680 | €225,914 | +€211,234 | +1,439% |
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 17 October 2026 via checked.be.