ARCA: 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.
ARCA
Largest movements
- Tangible fixed assets +€271,837
up €271,837 (+24.9%), from €1.1m to €1.4m
of which Land and buildings: +€284,909
- Cash +€35,715
up €35,715 (+82.9%), from €43,069 to €78,785
mainly Debts after one year (+€161,413) and Depreciation (+€93,613)
- Debts after one year +€161,413
up €161,413 (+21.4%), from €754,070 to €915,483
- Trade debts +€70,135
up €70,135 (+174%), from €40,355 to €110,490
- Profit (loss) carried forward +€46,274
up €46,274 (+31.5%), from €146,768 to €193,042
- Current portion of long-term debt +€19,099
up €19,099 (+31.3%), from €60,991 to €80,090
- Staff costs +€13,439
up €13,439 (+7.0%), from €192,127 to €205,567
- Gross operating margin +€8,911
up €8,911 (+2.4%), from €373,185 to €382,096
- Depreciation +€7,954
up €7,954 (+9.3%), from €85,659 to €93,613
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 | €1,194,388 | €1,499,319 | +€304,931 | +25.5% |
| Fixed assets | 21/28 | €1,092,382 | €1,364,218 | +€271,837 | +24.9% |
| Tangible fixed assets | 22/27 | €1,092,034 | €1,363,871 | +€271,837 | +24.9% |
| Land and buildings | 22 | €911,890 | €1,196,799 | +€284,909 | +31.2% |
| Plant, machinery and equipment | 23 | €144,266 | €138,207 | -€6,058 | -4.2% |
| Furniture and vehicles | 24 | €32,629 | €25,615 | -€7,014 | -21.5% |
| Other tangible fixed assets | 26 | €3,250 | €3,250 | = | 0.0% |
| Financial fixed assets | 28 | €347 | €347 | = | 0.0% |
| Current assets | 29/58 | €102,007 | €135,101 | +€33,094 | +32.4% |
| Stocks and contracts in progress | 3 | €21,924 | €24,387 | +€2,463 | +11.2% |
| Stocks | 30/36 | €21,924 | €24,387 | +€2,463 | +11.2% |
| Amounts receivable within one year | 40/41 | €27,853 | €23,156 | -€4,697 | -16.9% |
| Trade receivables | 40 | €26,730 | €23,156 | -€3,573 | -13.4% |
| Other amounts receivable | 41 | €1,124 | €0 | -€1,124 | -100% |
| Cash at bank and in hand | 54/58 | €43,069 | €78,785 | +€35,715 | +82.9% |
| Deferred charges and accrued income | 490/1 | €9,159 | €8,773 | -€386 | -4.2% |
| Total equity and liabilities | 10/49 | €1,194,388 | €1,499,319 | +€304,931 | +25.5% |
| Equity | 10/15 | €258,105 | €304,378 | +€46,274 | +17.9% |
| Contributions | 10/11 | €99,402 | €99,402 | = | 0.0% |
| Reserves | 13 | €11,935 | €11,935 | = | 0.0% |
| Distributable reserves | 133 | €11,935 | €11,935 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,768 | €193,042 | +€46,274 | +31.5% |
| Amounts payable | 17/49 | €936,283 | €1,194,941 | +€258,658 | +27.6% |
| Amounts payable after more than one year | 17 | €754,070 | €915,483 | +€161,413 | +21.4% |
| Financial debts | 170/4 | €754,070 | €915,483 | +€161,413 | +21.4% |
| Amounts payable within one year | 42/48 | €175,213 | €276,658 | +€101,445 | +57.9% |
| Current portion of amounts payable after more than one year | 42 | €60,991 | €80,090 | +€19,099 | +31.3% |
| Trade debts | 44 | €40,355 | €110,490 | +€70,135 | +174% |
| Suppliers | 440/4 | €40,355 | €110,490 | +€70,135 | +174% |
| Advances received on contracts in progress | 46 | €10,085 | €11,500 | +€1,415 | +14.0% |
| Taxes, remuneration and social security | 45 | €25,575 | €33,675 | +€8,100 | +31.7% |
| Taxes | 450/3 | €4,635 | €10,445 | +€5,810 | +125% |
| Remuneration and social security | 454/9 | €20,940 | €23,230 | +€2,290 | +10.9% |
| Other amounts payable | 47/48 | €38,207 | €40,902 | +€2,695 | +7.1% |
| Accrued charges and deferred income | 492/3 | €7,001 | €2,800 | -€4,200 | -60.0% |
| Remuneration, social security and pensions | 62 | €192,127 | €205,567 | +€13,439 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,659 | €93,613 | +€7,954 | +9.3% |
| Other operating charges | 640/8 | €5,262 | €5,783 | +€521 | +9.9% |
| Gross operating margin | 9900 | €373,185 | €382,096 | +€8,911 | +2.4% |
| Operating profit (loss) | 9901 | €90,137 | €77,134 | -€13,003 | -14.4% |
| Financial income | 75/76B | €315 | €245 | -€70 | -22.2% |
| Recurring financial income | 75 | €315 | €245 | -€70 | -22.2% |
| Financial charges | 65/66B | €27,461 | €30,897 | +€3,436 | +12.5% |
| Recurring financial charges | 65 | €27,461 | €30,897 | +€3,436 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €62,991 | €46,482 | -€16,509 | -26.2% |
| Income taxes | 67/77 | €84 | €208 | +€124 | +148% |
| Profit (loss) for the period | 9904 | €62,907 | €46,274 | -€16,633 | -26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €62,907 | €46,274 | -€16,633 | -26.4% |
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 15 October 2026 via checked.be.