ARZ: 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.
ARZ
Largest movements
- Tangible fixed assets +€6,383
up €6,383 (+44.4%), from €14,361 to €20,745
- Receivables within one year +€5,950
up €5,950 (+47.7%), from €12,469 to €18,418
- Cash -€5,245
down €5,245 (-48.9%), from €10,715 to €5,471
mainly Investment in fixed assets (net) (-€15,766) and Other debts (-€6,620)
- Short-term financial debts +€16,054
new in 2025: €16,054
- Other debts -€6,620
down €6,620 (-51.6%), from €12,820 to €6,200
- Tax, wage and social debts -€3,812
down €3,812 (-74.2%), from €5,140 to €1,328
of which Remuneration and social security: -€2,000
- Trade debts +€868
up €868 (+47.7%), from €1,822 to €2,691
- Profit (loss) carried forward +€598
up €598 (+71.5%), from -€837 to -€238
- Gross operating margin -€4,207
down €4,207 (-20.4%), from €20,604 to €16,397
- Staff costs +€3,590
up €3,590 (+1,864%), from €193 to €3,782
- Other operating charges -€1,616
down €1,616 (-43.0%), from €3,757 to €2,140
- Taxes -€1,510
down €1,510 (-95.6%), from €1,580 to €70
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 | €37,545 | €44,634 | +€7,088 | +18.9% |
| Fixed assets | 21/28 | €14,361 | €20,745 | +€6,383 | +44.4% |
| Tangible fixed assets | 22/27 | €14,361 | €20,745 | +€6,383 | +44.4% |
| Furniture and vehicles | 24 | €14,361 | €20,745 | +€6,383 | +44.4% |
| Current assets | 29/58 | €23,184 | €23,889 | +€705 | +3.0% |
| Amounts receivable within one year | 40/41 | €12,469 | €18,418 | +€5,950 | +47.7% |
| Other amounts receivable | 41 | €12,469 | €18,418 | +€5,950 | +47.7% |
| Cash at bank and in hand | 54/58 | €10,715 | €5,471 | -€5,245 | -48.9% |
| Total equity and liabilities | 10/49 | €37,545 | €44,634 | +€7,088 | +18.9% |
| Equity | 10/15 | €17,763 | €18,362 | +€598 | +3.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€837 | -€238 | +€598 | +71.5% |
| Amounts payable | 17/49 | €19,782 | €26,272 | +€6,490 | +32.8% |
| Amounts payable within one year | 42/48 | €19,782 | €26,272 | +€6,490 | +32.8% |
| Financial debts | 43 | - | €16,054 | +€16,054 | |
| Credit institutions | 430/8 | - | €16,054 | +€16,054 | |
| Trade debts | 44 | €1,822 | €2,691 | +€868 | +47.7% |
| Suppliers | 440/4 | €1,822 | €2,691 | +€868 | +47.7% |
| Taxes, remuneration and social security | 45 | €5,140 | €1,328 | -€3,812 | -74.2% |
| Taxes | 450/3 | €3,140 | €1,328 | -€1,812 | -57.7% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €12,820 | €6,200 | -€6,620 | -51.6% |
| Remuneration, social security and pensions | 62 | €193 | €3,782 | +€3,590 | +1,864% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,279 | €9,382 | +€104 | +1.1% |
| Other operating charges | 640/8 | €3,757 | €2,140 | -€1,616 | -43.0% |
| Gross operating margin | 9900 | €20,604 | €16,397 | -€4,207 | -20.4% |
| Operating profit (loss) | 9901 | €7,376 | €1,092 | -€6,284 | -85.2% |
| Financial charges | 65/66B | €369 | €424 | +€54 | +14.7% |
| Recurring financial charges | 65 | €369 | €424 | +€54 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €7,007 | €668 | -€6,338 | -90.5% |
| Income taxes | 67/77 | €1,580 | €70 | -€1,510 | -95.6% |
| Profit (loss) for the period | 9904 | €5,427 | €598 | -€4,828 | -89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,427 | €598 | -€4,828 | -89.0% |
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 20 October 2026 via checked.be.