What changed?
Two fiscal 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.
ARNOUTS Management
Largest movements
- Cash +€73,030
up €73,030 (+46.3%), from €157,592 to €230,622
mainly Net result for the year (+€93,366) and Other debts (+€39,212)
- Receivables after one year -€13,900
down €13,900 (-100.0%), from €13,900 to €0
- Current investments +€12,000
up €12,000 (+20.8%), from €57,570 to €69,570
- Tangible fixed assets +€6,141
up €6,141 (+448.7%), from €1,369 to €7,510
- Receivables within one year -€3,569
down €3,569 (-99.1%), from €3,600 to €31
- Reserves +€40,441
up €40,441 (+19.6%), from €206,462 to €246,904
- Other debts +€39,212
up €39,212 (+286.0%), from €13,713 to €52,925
- Tax, wage and social debts -€6,843
down €6,843 (-53.4%), from €12,819 to €5,976
of which Taxes: -€7,143
- Financial income +€5,158
up €5,158 (+1109.9%), from €465 to €5,623
- Gross operating margin -€5,120
down €5,120 (-3.9%), from €131,643 to €126,524
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.
Cash bridge derived
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 | €235,071 | €308,099 | +€73,028 | +31.1% |
| Fixed assets | 21/28 | €1,370 | €7,511 | +€6,141 | +448.3% |
| Tangible fixed assets | 22/27 | €1,369 | €7,510 | +€6,141 | +448.7% |
| Plant, machinery and equipment | 23 | €1,369 | €7,510 | +€6,141 | +448.7% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €233,701 | €300,588 | +€66,887 | +28.6% |
| Amounts receivable after more than one year | 29 | €13,900 | €0 | -€13,900 | -100.0% |
| Other amounts receivable | 291 | €13,900 | €0 | -€13,900 | -100.0% |
| Amounts receivable within one year | 40/41 | €3,600 | €31 | -€3,569 | -99.1% |
| Other amounts receivable | 41 | €3,600 | €31 | -€3,569 | -99.1% |
| Current investments | 50/53 | €57,570 | €69,570 | +€12,000 | +20.8% |
| Cash at bank and in hand | 54/58 | €157,592 | €230,622 | +€73,030 | +46.3% |
| Deferred charges and accrued income | 490/1 | €1,039 | €365 | -€674 | -64.9% |
| Total equity and liabilities | 10/49 | €235,071 | €308,099 | +€73,028 | +31.1% |
| Equity | 10/15 | €206,462 | €246,904 | +€40,441 | +19.6% |
| Reserves | 13 | €206,462 | €246,904 | +€40,441 | +19.6% |
| Distributable reserves | 133 | €206,462 | €246,904 | +€40,441 | +19.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €28,609 | €61,195 | +€32,587 | +113.9% |
| Amounts payable within one year | 42/48 | €27,991 | €60,297 | +€32,306 | +115.4% |
| Trade debts | 44 | €1,460 | €1,396 | -€63 | -4.3% |
| Suppliers | 440/4 | €1,460 | €1,396 | -€63 | -4.3% |
| Taxes, remuneration and social security | 45 | €12,819 | €5,976 | -€6,843 | -53.4% |
| Taxes | 450/3 | €12,609 | €5,466 | -€7,143 | -56.7% |
| Remuneration and social security | 454/9 | €210 | €510 | +€300 | +142.9% |
| Other amounts payable | 47/48 | €13,713 | €52,925 | +€39,212 | +286.0% |
| Accrued charges and deferred income | 492/3 | €618 | €898 | +€280 | +45.4% |
| Non-recurring operating income | 76A | - | €12,299 | +€12,299 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,162 | €1,557 | +€395 | +34.0% |
| Other operating charges | 640/8 | €644 | €649 | +€5 | +0.7% |
| Non-recurring operating charges | 66A | €1,743 | €0 | -€1,743 | -100.0% |
| Gross operating margin | 9900 | €131,643 | €126,524 | -€5,120 | -3.9% |
| Operating profit (loss) | 9901 | €128,094 | €124,317 | -€3,777 | -2.9% |
| Financial income | 75/76B | €465 | €5,623 | +€5,158 | +1109.9% |
| Recurring financial income | 75 | €465 | €5,623 | +€5,158 | +1109.9% |
| Financial charges | 65/66B | €289 | €922 | +€633 | +218.8% |
| Recurring financial charges | 65 | €289 | €922 | +€633 | +218.8% |
| Profit (loss) for the period before taxes | 9903 | €128,270 | €129,019 | +€749 | +0.6% |
| Income taxes | 67/77 | €36,448 | €35,652 | -€796 | -2.2% |
| Profit (loss) for the period | 9904 | €91,822 | €93,366 | +€1,545 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €91,822 | €93,366 | +€1,545 | +1.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 September 2026 via checked.be.