A R C Projects: 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.
A R C Projects
Largest movements
- Cash -€60,307
down €60,307 (-54.1%), from €111,409 to €51,102
mainly Contributions, distributions and other (-€128,412) and Accrued charges and deferred income (-€64,915)
- Tangible fixed assets -€33,538
down €33,538 (-12.0%), from €279,554 to €246,016
of which Leasing and similar rights: -€23,873
- Receivables within one year +€28,067
up €28,067 (+93.2%), from €30,103 to €58,170
of which Trade receivables: +€32,422
- Stocks and contracts +€28,000
up €28,000 (+1866.7%), from €1,500 to €29,500
of which Contracts in progress: +€28,000
- Accrued charges and deferred income -€64,915
down €64,915 (-92.8%), from €69,938 to €5,023
- Other debts +€57,433
up €57,433 (+95.7%), from €60,000 to €117,433
- Trade debts +€39,997
up €39,997 (+219.5%), from €18,220 to €58,216
- Profit (loss) carried forward -€32,280
down €32,280 (-64.9%), from €49,774 to €17,495
- Debts after one year -€30,809
down €30,809 (-20.1%), from €153,355 to €122,546
- Gross operating margin +€98,359
up €98,359 (+114.4%), from €85,948 to €184,307
- Depreciation +€29,012
up €29,012 (+129.4%), from €22,428 to €51,439
- Taxes +€16,315
up €16,315 (+160.7%), from €10,155 to €26,470
- Other operating charges +€9,473
up €9,473 (+74.5%), from €12,718 to €22,192
- Financial charges +€7,211
up €7,211 (+79.5%), from €9,071 to €16,282
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 | €433,316 | €395,418 | -€37,898 | -8.7% |
| Fixed assets | 21/28 | €279,554 | €246,016 | -€33,538 | -12.0% |
| Tangible fixed assets | 22/27 | €279,554 | €246,016 | -€33,538 | -12.0% |
| Land and buildings | 22 | €131,283 | €124,939 | -€6,344 | -4.8% |
| Plant, machinery and equipment | 23 | €27,585 | €26,317 | -€1,267 | -4.6% |
| Furniture and vehicles | 24 | €4,715 | €2,661 | -€2,054 | -43.6% |
| Leasing and similar rights | 25 | €115,972 | €92,099 | -€23,873 | -20.6% |
| Current assets | 29/58 | €153,761 | €149,402 | -€4,360 | -2.8% |
| Stocks and contracts in progress | 3 | €1,500 | €29,500 | +€28,000 | +1866.7% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Contracts in progress | 37 | - | €28,000 | +€28,000 | |
| Amounts receivable within one year | 40/41 | €30,103 | €58,170 | +€28,067 | +93.2% |
| Trade receivables | 40 | €10,103 | €42,525 | +€32,422 | +320.9% |
| Other amounts receivable | 41 | €20,000 | €15,645 | -€4,355 | -21.8% |
| Cash at bank and in hand | 54/58 | €111,409 | €51,102 | -€60,307 | -54.1% |
| Deferred charges and accrued income | 490/1 | €10,749 | €10,629 | -€120 | -1.1% |
| Total equity and liabilities | 10/49 | €433,316 | €395,418 | -€37,898 | -8.7% |
| Equity | 10/15 | €98,834 | €38,495 | -€60,339 | -61.1% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €28,060 | €0 | -€28,060 | -100.0% |
| Distributable reserves | 133 | €28,060 | €0 | -€28,060 | -100.0% |
| Profit (loss) carried forward | 14 | €49,774 | €17,495 | -€32,280 | -64.9% |
| Amounts payable | 17/49 | €334,482 | €356,923 | +€22,441 | +6.7% |
| Amounts payable after more than one year | 17 | €153,355 | €122,546 | -€30,809 | -20.1% |
| Financial debts | 170/4 | €153,355 | €122,546 | -€30,809 | -20.1% |
| Amounts payable within one year | 42/48 | €111,189 | €229,355 | +€118,166 | +106.3% |
| Current portion of amounts payable after more than one year | 42 | €29,827 | €47,504 | +€17,678 | +59.3% |
| Trade debts | 44 | €18,220 | €58,216 | +€39,997 | +219.5% |
| Suppliers | 440/4 | €18,220 | €58,216 | +€39,997 | +219.5% |
| Taxes, remuneration and social security | 45 | €3,143 | €6,202 | +€3,059 | +97.3% |
| Taxes | 450/3 | €3,143 | €6,202 | +€3,059 | +97.3% |
| Other amounts payable | 47/48 | €60,000 | €117,433 | +€57,433 | +95.7% |
| Accrued charges and deferred income | 492/3 | €69,938 | €5,023 | -€64,915 | -92.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,428 | €51,439 | +€29,012 | +129.4% |
| Other operating charges | 640/8 | €12,718 | €22,192 | +€9,473 | +74.5% |
| Gross operating margin | 9900 | €85,948 | €184,307 | +€98,359 | +114.4% |
| Operating profit (loss) | 9901 | €50,802 | €110,676 | +€59,874 | +117.9% |
| Financial income | 75/76B | €376 | €148 | -€228 | -60.7% |
| Recurring financial income | 75 | €376 | €148 | -€228 | -60.7% |
| Financial charges | 65/66B | €9,071 | €16,282 | +€7,211 | +79.5% |
| Recurring financial charges | 65 | €9,071 | €16,282 | +€7,211 | +79.5% |
| Profit (loss) for the period before taxes | 9903 | €42,108 | €94,542 | +€52,434 | +124.5% |
| Income taxes | 67/77 | €10,155 | €26,470 | +€16,315 | +160.7% |
| Profit (loss) for the period | 9904 | €31,953 | €68,073 | +€36,119 | +113.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,953 | €68,073 | +€36,119 | +113.0% |
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 5 October 2026 via checked.be.