ARCADE: 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.
What changed
ARCADE
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€41,494
2024 · €262,304-€220,810
Equity
€2.5m
2024 · €2.4m+€41,494
Cash
€5,190
2024 · €27,531-€22,341
Balance sheet total
€10.3m
2024 · €8.0m+€2.3m
Largest movements
Assets
- Receivables after one year +€1.4m
new in 2025: €1.4m
- Tangible fixed assets +€1.4m
up €1.4m (+30.1%), from €4.6m to €6.0m
of which Land and buildings: +€1.4m
- Receivables within one year -€1.4m
down €1.4m (-77.3%), from €1.8m to €398,383
of which Other amounts receivable: -€1.4m
- Financial fixed assets +€912,713
up €912,713 (+60.7%), from €1.5m to €2.4m
Equity and liabilities
- Debts after one year +€2.0m
up €2.0m (+77.1%), from €2.6m to €4.7m
of which Financial debts: +€2.0m
- Other debts +€681,084
up €681,084 (+429.9%), from €158,415 to €839,499
- Short-term financial debts -€628,422
down €628,422 (-30.7%), from €2.1m to €1.4m
- Current portion of long-term debt +€159,844
up €159,844 (+34.9%), from €457,970 to €617,814
Income statement
- Depreciation +€252,116
up €252,116 (+62.3%), from €404,732 to €656,848
- Gross operating margin -€72,259
down €72,259 (-6.2%), from €1.2m to €1.1m
- Taxes -€66,144
down €66,144 (-74.2%), from €89,107 to €22,963
- Other operating charges -€28,543
down €28,543 (-17.4%), from €164,303 to €135,760
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.
Result 2024
€262,304
Gross operating margin
-€72,259
Staff costs
+€4,835
Depreciation
-€252,116
Other operating charges
+€28,543
Financial income
+€10,641
Financial charges
-€8,533
Taxes
+€66,144
Deferred taxes and other
+€1,935
Result 2025
€41,494
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.
From operations
+€1.4m
Investment
-€3.0m
Financing
+€1.6m
Cash 2024
€27,531
From operations (derived)
+€1.4m
Net result for the year
+€41,494
Depreciation
+€656,848
Receivables after one year
-€1.4m
Receivables within one year
+€1.4m
Deferred charges and accrued income
+€10,877
Smaller working-capital items
-€1,141
Trade debts
+€52,048
Tax, wage and social debts
-€7,424
Other debts
+€681,084
Investment (derived)
-€3.0m
Investment in fixed assets (net)
-€3.0m
Financing
+€1.6m
Debts after one year
+€2.0m
Current portion of long-term debt
+€159,844
Short-term financial debts
-€628,422
Cash 2025
€5,190
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,982,485 | €10,315,827 | +€2.3m | +29.2% |
| Fixed assets | 21/28 | €6,131,566 | €8,436,959 | +€2.3m | +37.6% |
| Tangible fixed assets | 22/27 | €4,629,033 | €6,021,712 | +€1.4m | +30.1% |
| Land and buildings | 22 | €4,494,637 | €5,874,947 | +€1.4m | +30.7% |
| Plant, machinery and equipment | 23 | €25,519 | €23,462 | -€2,057 | -8.1% |
| Furniture and vehicles | 24 | €60,310 | €50,909 | -€9,401 | -15.6% |
| Other tangible fixed assets | 26 | €48,567 | €72,395 | +€23,828 | +49.1% |
| Financial fixed assets | 28 | €1,502,533 | €2,415,246 | +€912,713 | +60.7% |
| Current assets | 29/58 | €1,850,920 | €1,878,869 | +€27,949 | +1.5% |
| Amounts receivable after more than one year | 29 | - | €1,420,901 | +€1.4m | |
| Other amounts receivable | 291 | - | €1,420,901 | +€1.4m | |
| Amounts receivable within one year | 40/41 | €1,758,117 | €398,383 | -€1.4m | -77.3% |
| Trade receivables | 40 | €126,777 | €165,111 | +€38,334 | +30.2% |
| Other amounts receivable | 41 | €1,631,340 | €233,273 | -€1.4m | -85.7% |
| Cash at bank and in hand | 54/58 | €27,531 | €5,190 | -€22,341 | -81.1% |
| Deferred charges and accrued income | 490/1 | €65,271 | €54,394 | -€10,877 | -16.7% |
| Total equity and liabilities | 10/49 | €7,982,485 | €10,315,827 | +€2.3m | +29.2% |
| Equity | 10/15 | €2,439,590 | €2,481,084 | +€41,494 | +1.7% |
| Contributions | 10/11 | €142,565 | €142,565 | = | 0.0% |
| Capital | 10 | €142,565 | €142,565 | = | 0.0% |
| Issued capital | 100 | €142,565 | €142,565 | = | 0.0% |
| Reserves | 13 | €360,336 | €349,823 | -€10,513 | -2.9% |
| Non-distributable reserves | 130/1 | €14,257 | €14,257 | = | 0.0% |
| Legal reserve | 130 | €14,257 | €14,257 | = | 0.0% |
| Tax-exempt reserves | 132 | €346,079 | €335,566 | -€10,513 | -3.0% |
| Profit (loss) carried forward | 14 | €1,936,689 | €1,988,696 | +€52,007 | +2.7% |
| Provisions and deferred taxes | 16 | €68,521 | €63,010 | -€5,512 | -8.0% |
| Deferred taxes | 168 | €68,521 | €63,010 | -€5,512 | -8.0% |
| Amounts payable | 17/49 | €5,474,374 | €7,771,733 | +€2.3m | +42.0% |
| Amounts payable after more than one year | 17 | €2,641,350 | €4,677,209 | +€2.0m | +77.1% |
| Financial debts | 170/4 | €2,624,323 | €4,659,042 | +€2.0m | +77.5% |
| Other amounts payable | 178/9 | €17,027 | €18,167 | +€1,140 | +6.7% |
| Amounts payable within one year | 42/48 | €2,807,491 | €3,064,620 | +€257,129 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €457,970 | €617,814 | +€159,844 | +34.9% |
| Financial debts | 43 | €2,050,000 | €1,421,578 | -€628,422 | -30.7% |
| Credit institutions | 430/8 | €2,050,000 | €1,421,578 | -€628,422 | -30.7% |
| Trade debts | 44 | €85,228 | €137,276 | +€52,048 | +61.1% |
| Suppliers | 440/4 | €85,228 | €137,276 | +€52,048 | +61.1% |
| Taxes, remuneration and social security | 45 | €55,878 | €48,454 | -€7,424 | -13.3% |
| Taxes | 450/3 | €49,900 | €39,904 | -€9,996 | -20.0% |
| Remuneration and social security | 454/9 | €5,978 | €8,550 | +€2,572 | +43.0% |
| Other amounts payable | 47/48 | €158,415 | €839,499 | +€681,084 | +429.9% |
| Accrued charges and deferred income | 492/3 | €25,533 | €29,904 | +€4,371 | +17.1% |
| Non-recurring operating income | 76A | - | €4,913 | +€4,913 | |
| Remuneration, social security and pensions | 62 | €57,456 | €52,621 | -€4,835 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €404,732 | €656,848 | +€252,116 | +62.3% |
| Other operating charges | 640/8 | €164,303 | €135,760 | -€28,543 | -17.4% |
| Gross operating margin | 9900 | €1,172,197 | €1,099,938 | -€72,259 | -6.2% |
| Operating profit (loss) | 9901 | €545,706 | €254,709 | -€290,997 | -53.3% |
| Financial income | 75/76B | €6,228 | €16,869 | +€10,641 | +170.9% |
| Recurring financial income | 75 | €6,228 | €16,869 | +€10,641 | +170.9% |
| Financial charges | 65/66B | €204,099 | €212,632 | +€8,533 | +4.2% |
| Recurring financial charges | 65 | €204,099 | €212,632 | +€8,533 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €347,835 | €58,946 | -€288,889 | -83.1% |
| Transfer from deferred taxes | 780 | €3,576 | €5,512 | +€1,935 | +54.1% |
| Income taxes | 67/77 | €89,107 | €22,963 | -€66,144 | -74.2% |
| Profit (loss) for the period | 9904 | €262,304 | €41,494 | -€220,810 | -84.2% |
| Transfer from tax-exempt reserves | 789 | €6,919 | €10,513 | +€3,594 | +52.0% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €0 | -€84,200 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €185,023 | €52,007 | -€133,015 | -71.9% |
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 10 October 2026 via checked.be.