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
- Cash -€171,854
down €171,854 (-63.2%), from €271,934 to €100,080
mainly Contributions, distributions and other (-€459,019) and Other debts (-€316,009)
- Deferred charges and accrued income +€9,274
up €9,274 (+4.1%), from €226,405 to €235,679
- Other debts -€316,009
down €316,009 (-69.2%), from €456,388 to €140,379
- Reserves +€142,292
up €142,292 (+1,825%), from €7,797 to €150,089
- Tax, wage and social debts +€26,712
new in 2025: €26,712
- Trade debts -€13,387
down €13,387 (-30.8%), from €43,489 to €30,102
- Gross operating margin +€113,885
up €113,885 (+16.4%), from €693,440 to €807,324
- Taxes +€27,573
up €27,573 (+16.3%), from €169,584 to €197,156
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 | €526,274 | €365,882 | -€160,392 | -30.5% |
| Fixed assets | 21/28 | €18,587 | €16,466 | -€2,121 | -11.4% |
| Tangible fixed assets | 22/27 | €18,487 | €16,366 | -€2,121 | -11.5% |
| Plant, machinery and equipment | 23 | €9,882 | €10,929 | +€1,047 | +10.6% |
| Furniture and vehicles | 24 | €4,947 | €2,384 | -€2,563 | -51.8% |
| Other tangible fixed assets | 26 | €3,658 | €3,053 | -€605 | -16.5% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €507,686 | €349,415 | -€158,271 | -31.2% |
| Amounts receivable within one year | 40/41 | €9,347 | €13,656 | +€4,309 | +46.1% |
| Trade receivables | 40 | €919 | - | -€919 | |
| Other amounts receivable | 41 | €8,428 | €13,656 | +€5,228 | +62.0% |
| Cash at bank and in hand | 54/58 | €271,934 | €100,080 | -€171,854 | -63.2% |
| Deferred charges and accrued income | 490/1 | €226,405 | €235,679 | +€9,274 | +4.1% |
| Total equity and liabilities | 10/49 | €526,274 | €365,882 | -€160,392 | -30.5% |
| Equity | 10/15 | €26,397 | €168,689 | +€142,292 | +539% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,797 | €150,089 | +€142,292 | +1,825% |
| Distributable reserves | 133 | €7,797 | €150,089 | +€142,292 | +1,825% |
| Amounts payable | 17/49 | €499,877 | €197,193 | -€302,684 | -60.6% |
| Amounts payable within one year | 42/48 | €499,877 | €197,193 | -€302,684 | -60.6% |
| Trade debts | 44 | €43,489 | €30,102 | -€13,387 | -30.8% |
| Suppliers | 440/4 | €43,489 | €30,102 | -€13,387 | -30.8% |
| Taxes, remuneration and social security | 45 | - | €26,712 | +€26,712 | |
| Taxes | 450/3 | - | €26,712 | +€26,712 | |
| Other amounts payable | 47/48 | €456,388 | €140,379 | -€316,009 | -69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,702 | €8,598 | +€896 | +11.6% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €693,440 | €807,324 | +€113,885 | +16.4% |
| Operating profit (loss) | 9901 | €685,620 | €798,607 | +€112,987 | +16.5% |
| Financial income | 75/76B | €870 | €592 | -€278 | -31.9% |
| Recurring financial income | 75 | €870 | €592 | -€278 | -31.9% |
| Financial charges | 65/66B | €169 | €732 | +€563 | +333% |
| Recurring financial charges | 65 | €169 | €732 | +€563 | +333% |
| Profit (loss) for the period before taxes | 9903 | €686,321 | €798,467 | +€112,146 | +16.3% |
| Income taxes | 67/77 | €169,584 | €197,156 | +€27,573 | +16.3% |
| Profit (loss) for the period | 9904 | €516,737 | €601,311 | +€84,574 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €516,737 | €601,311 | +€84,574 | +16.4% |
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 13 October 2026 via checked.be.