A.R.C. MANAGEMENT: 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.
A.R.C. MANAGEMENT
Largest movements
- Receivables within one year +€23,618
up €23,618 (+204%), from €11,557 to €35,175
- Cash -€22,929
down €22,929 (-11.8%), from €193,780 to €170,851
mainly Contributions, distributions and other (-€106,285) and Receivables within one year (-€23,618)
- Tangible fixed assets -€6,052
down €6,052 (-10.0%), from €60,393 to €54,341
of which Other tangible fixed assets: -€4,995
- Other debts +€66,688
up €66,688 (+155%), from €43,151 to €109,839
- Reserves -€65,929
down €65,929 (-33.0%), from €200,008 to €134,079
- Tax, wage and social debts -€4,545
down €4,545 (-28.9%), from €15,721 to €11,176
- Trade debts -€3,294
down €3,294 (-59.0%), from €5,587 to €2,293
- Gross operating margin -€20,855
down €20,855 (-21.1%), from €98,791 to €77,936
- Depreciation -€5,703
down €5,703 (-27.1%), from €21,033 to €15,331
- Taxes -€5,509
down €5,509 (-20.8%), from €26,545 to €21,035
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 | €270,668 | €264,176 | -€6,492 | -2.4% |
| Fixed assets | 21/28 | €60,393 | €54,341 | -€6,052 | -10.0% |
| Tangible fixed assets | 22/27 | €60,393 | €54,341 | -€6,052 | -10.0% |
| Plant, machinery and equipment | 23 | €1,126 | €896 | -€230 | -20.4% |
| Furniture and vehicles | 24 | €16,042 | €15,215 | -€827 | -5.2% |
| Other tangible fixed assets | 26 | €43,225 | €38,230 | -€4,995 | -11.6% |
| Current assets | 29/58 | €210,274 | €209,834 | -€440 | -0.2% |
| Amounts receivable within one year | 40/41 | €11,557 | €35,175 | +€23,618 | +204% |
| Trade receivables | 40 | €11,557 | €35,175 | +€23,618 | +204% |
| Cash at bank and in hand | 54/58 | €193,780 | €170,851 | -€22,929 | -11.8% |
| Deferred charges and accrued income | 490/1 | €4,937 | €3,808 | -€1,129 | -22.9% |
| Total equity and liabilities | 10/49 | €270,668 | €264,176 | -€6,492 | -2.4% |
| Equity | 10/15 | €206,208 | €140,279 | -€65,929 | -32.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €200,008 | €134,079 | -€65,929 | -33.0% |
| Distributable reserves | 133 | €200,008 | €134,079 | -€65,929 | -33.0% |
| Amounts payable | 17/49 | €64,460 | €123,897 | +€59,437 | +92.2% |
| Amounts payable within one year | 42/48 | €64,460 | €123,308 | +€58,848 | +91.3% |
| Trade debts | 44 | €5,587 | €2,293 | -€3,294 | -59.0% |
| Suppliers | 440/4 | €5,587 | €2,293 | -€3,294 | -59.0% |
| Taxes, remuneration and social security | 45 | €15,721 | €11,176 | -€4,545 | -28.9% |
| Taxes | 450/3 | €15,721 | €11,176 | -€4,545 | -28.9% |
| Other amounts payable | 47/48 | €43,151 | €109,839 | +€66,688 | +155% |
| Accrued charges and deferred income | 492/3 | - | €589 | +€589 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,033 | €15,331 | -€5,703 | -27.1% |
| Other operating charges | 640/8 | €1,213 | €471 | -€742 | -61.1% |
| Gross operating margin | 9900 | €98,791 | €77,936 | -€20,855 | -21.1% |
| Operating profit (loss) | 9901 | €76,545 | €62,134 | -€14,411 | -18.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -71.4% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -71.4% |
| Financial charges | 65/66B | €656 | €743 | +€87 | +13.3% |
| Recurring financial charges | 65 | €656 | €743 | +€87 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €75,889 | €61,391 | -€14,498 | -19.1% |
| Income taxes | 67/77 | €26,545 | €21,035 | -€5,509 | -20.8% |
| Profit (loss) for the period | 9904 | €49,344 | €40,356 | -€8,989 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,344 | €40,356 | -€8,989 | -18.2% |
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 31 October 2026 via checked.be.