ARCAD: 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.
ARCAD
Largest movements
- Cash -€247,654
down €247,654 (-61.7%), from €401,431 to €153,777
mainly Other debts (-€240,036) and Contributions, distributions and other (-€80,000)
- Tangible fixed assets -€41,354
down €41,354 (-10.0%), from €413,213 to €371,859
of which Other tangible fixed assets: -€34,869
- Receivables after one year -€23,434
down €23,434 (-8.1%), from €289,170 to €265,736
- Other debts -€240,036
down €240,036 (-53.8%), from €446,067 to €206,032
- Tax, wage and social debts -€47,612
down €47,612 (-56.4%), from €84,397 to €36,786
- Reserves -€14,411
down €14,411 (-2.7%), from €540,926 to €526,515
of which Tax-exempt reserves: -€7,500
- Debts after one year -€11,667
down €11,667 (-30.8%), from €37,916 to €26,249
- Gross operating margin +€13,138
up €13,138 (+10.7%), from €122,621 to €135,759
- Financial income -€6,761
down €6,761 (-43.3%), from €15,604 to €8,843
- Financial charges -€3,367
down €3,367 (-31.1%), from €10,824 to €7,457
- Taxes +€1,442
up €1,442 (+4.4%), from €32,666 to €34,108
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 | €1,145,885 | €831,136 | -€314,749 | -27.5% |
| Fixed assets | 21/28 | €413,213 | €371,859 | -€41,354 | -10.0% |
| Tangible fixed assets | 22/27 | €413,213 | €371,859 | -€41,354 | -10.0% |
| Land and buildings | 22 | €105,695 | €99,210 | -€6,485 | -6.1% |
| Other tangible fixed assets | 26 | €307,518 | €272,649 | -€34,869 | -11.3% |
| Current assets | 29/58 | €732,672 | €459,277 | -€273,395 | -37.3% |
| Amounts receivable after more than one year | 29 | €289,170 | €265,736 | -€23,434 | -8.1% |
| Other amounts receivable | 291 | €289,170 | €265,736 | -€23,434 | -8.1% |
| Amounts receivable within one year | 40/41 | €42,071 | €39,764 | -€2,307 | -5.5% |
| Trade receivables | 40 | €7,684 | €7,684 | = | 0.0% |
| Other amounts receivable | 41 | €34,388 | €32,080 | -€2,307 | -6.7% |
| Cash at bank and in hand | 54/58 | €401,431 | €153,777 | -€247,654 | -61.7% |
| Total equity and liabilities | 10/49 | €1,145,885 | €831,136 | -€314,749 | -27.5% |
| Equity | 10/15 | €540,926 | €526,515 | -€14,411 | -2.7% |
| Reserves | 13 | €540,926 | €526,515 | -€14,411 | -2.7% |
| Tax-exempt reserves | 132 | €29,101 | €21,601 | -€7,500 | -25.8% |
| Distributable reserves | 133 | €511,825 | €504,914 | -€6,911 | -1.4% |
| Provisions and deferred taxes | 16 | €19,401 | €14,401 | -€5,000 | -25.8% |
| Deferred taxes | 168 | €19,401 | €14,401 | -€5,000 | -25.8% |
| Amounts payable | 17/49 | €585,559 | €290,221 | -€295,338 | -50.4% |
| Amounts payable after more than one year | 17 | €37,916 | €26,249 | -€11,667 | -30.8% |
| Financial debts | 170/4 | €37,916 | €26,249 | -€11,667 | -30.8% |
| Amounts payable within one year | 42/48 | €547,643 | €259,023 | -€288,619 | -52.7% |
| Current portion of amounts payable after more than one year | 42 | €11,667 | €11,667 | = | 0.0% |
| Trade debts | 44 | €5,511 | €4,539 | -€972 | -17.6% |
| Suppliers | 440/4 | €5,511 | €4,539 | -€972 | -17.6% |
| Taxes, remuneration and social security | 45 | €84,397 | €36,786 | -€47,612 | -56.4% |
| Taxes | 450/3 | €84,397 | €36,786 | -€47,612 | -56.4% |
| Other amounts payable | 47/48 | €446,067 | €206,032 | -€240,036 | -53.8% |
| Accrued charges and deferred income | 492/3 | - | €4,948 | +€4,948 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,354 | €41,354 | = | 0.0% |
| Other operating charges | 640/8 | €568 | €1,094 | +€526 | +92.6% |
| Gross operating margin | 9900 | €122,621 | €135,759 | +€13,138 | +10.7% |
| Operating profit (loss) | 9901 | €80,699 | €93,311 | +€12,612 | +15.6% |
| Financial income | 75/76B | €15,604 | €8,843 | -€6,761 | -43.3% |
| Recurring financial income | 75 | €15,604 | €8,843 | -€6,761 | -43.3% |
| Financial charges | 65/66B | €10,824 | €7,457 | -€3,367 | -31.1% |
| Recurring financial charges | 65 | €10,824 | €7,457 | -€3,367 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €85,478 | €94,697 | +€9,218 | +10.8% |
| Transfer from deferred taxes | 780 | €5,000 | €5,000 | = | 0.0% |
| Income taxes | 67/77 | €32,666 | €34,108 | +€1,442 | +4.4% |
| Profit (loss) for the period | 9904 | €57,812 | €65,589 | +€7,777 | +13.5% |
| Transfer from tax-exempt reserves | 789 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,312 | €73,089 | +€7,777 | +11.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.