ARC: 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.
ARC
Largest movements
- Receivables within one year -€36,603
down €36,603 (-29.8%), from €122,672 to €86,069
of which Trade receivables: -€30,167
- Cash -€15,824
down €15,824 (-9.4%), from €168,118 to €152,294
mainly Contributions, distributions and other (-€85,000) and Trade debts (-€59,015)
- Receivables after one year +€6,124
new in 2025: €6,124
- Trade debts -€59,015
down €59,015 (-45.2%), from €130,493 to €71,478
- Other debts +€26,853
up €26,853 (+252%), from €10,637 to €37,490
- Profit (loss) carried forward -€23,285
down €23,285 (-20.7%), from €112,415 to €89,130
- Tax, wage and social debts +€6,312
up €6,312 (+23.0%), from €27,413 to €33,725
of which Taxes: +€5,970
- Gross operating margin +€39,516
up €39,516 (+91.5%), from €43,207 to €82,723
- Taxes +€11,602
up €11,602 (+211%), from €5,488 to €17,090
- Depreciation -€9,132
down €9,132 (-79.6%), from €11,466 to €2,334
- Write-downs -€8,887
no longer reported in 2025 (was €8,887)
- Other operating charges +€1,586
up €1,586 (+64.9%), from €2,446 to €4,032
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 | €299,625 | €250,490 | -€49,134 | -16.4% |
| Fixed assets | 21/28 | €4,913 | €2,579 | -€2,334 | -47.5% |
| Tangible fixed assets | 22/27 | €4,888 | €2,554 | -€2,334 | -47.7% |
| Other tangible fixed assets | 26 | €4,888 | €2,554 | -€2,334 | -47.7% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €294,712 | €247,911 | -€46,801 | -15.9% |
| Amounts receivable after more than one year | 29 | - | €6,124 | +€6,124 | |
| Other amounts receivable | 291 | - | €6,124 | +€6,124 | |
| Amounts receivable within one year | 40/41 | €122,672 | €86,069 | -€36,603 | -29.8% |
| Trade receivables | 40 | €114,278 | €84,111 | -€30,167 | -26.4% |
| Other amounts receivable | 41 | €8,394 | €1,958 | -€6,436 | -76.7% |
| Cash at bank and in hand | 54/58 | €168,118 | €152,294 | -€15,824 | -9.4% |
| Deferred charges and accrued income | 490/1 | €3,922 | €3,424 | -€498 | -12.7% |
| Total equity and liabilities | 10/49 | €299,625 | €250,490 | -€49,134 | -16.4% |
| Equity | 10/15 | €131,015 | €107,730 | -€23,285 | -17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,415 | €89,130 | -€23,285 | -20.7% |
| Amounts payable | 17/49 | €168,609 | €142,760 | -€25,849 | -15.3% |
| Amounts payable within one year | 42/48 | €168,544 | €142,693 | -€25,850 | -15.3% |
| Trade debts | 44 | €130,493 | €71,478 | -€59,015 | -45.2% |
| Suppliers | 440/4 | €130,493 | €71,478 | -€59,015 | -45.2% |
| Taxes, remuneration and social security | 45 | €27,413 | €33,725 | +€6,312 | +23.0% |
| Taxes | 450/3 | €24,524 | €30,494 | +€5,970 | +24.3% |
| Remuneration and social security | 454/9 | €2,889 | €3,232 | +€342 | +11.9% |
| Other amounts payable | 47/48 | €10,637 | €37,490 | +€26,853 | +252% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,466 | €2,334 | -€9,132 | -79.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,887 | - | -€8,887 | |
| Other operating charges | 640/8 | €2,446 | €4,032 | +€1,586 | +64.9% |
| Gross operating margin | 9900 | €43,207 | €82,723 | +€39,516 | +91.5% |
| Operating profit (loss) | 9901 | €20,409 | €76,357 | +€55,948 | +274% |
| Financial income | 75/76B | €3,417 | €4,356 | +€939 | +27.5% |
| Recurring financial income | 75 | €1,753 | €1,520 | -€233 | -13.3% |
| Non-recurring financial income | 76B | €1,664 | €2,836 | +€1,172 | +70.4% |
| Financial charges | 65/66B | €2,762 | €1,908 | -€853 | -30.9% |
| Recurring financial charges | 65 | €2,762 | €1,908 | -€853 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €21,064 | €78,805 | +€57,740 | +274% |
| Income taxes | 67/77 | €5,488 | €17,090 | +€11,602 | +211% |
| Profit (loss) for the period | 9904 | €15,576 | €61,715 | +€46,138 | +296% |
| Profit (loss) for the period to be appropriated | 9905 | €15,576 | €61,715 | +€46,138 | +296% |
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.