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 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€312,340
2024 · €372,092-€59,752
Equity
€1.9m
2024 · €2.1m-€221,288
Cash
€27,740
2024 · €39,480-€11,740
Balance sheet total
€8.9m
2024 · €9.9m-€1.0m
Largest movements
Assets
- Financial fixed assets -€900,000
down €900,000 (-11.1%), from €8.1m to €7.2m
- Tangible fixed assets -€123,014
down €123,014 (-7.4%), from €1.7m to €1.5m
of which Land and buildings: -€91,817
Equity and liabilities
- Profit (loss) carried forward -€691,560
down €691,560 (-78.1%), from €885,112 to €193,552
- Debts after one year -€523,970
down €523,970 (-32.2%), from €1.6m to €1.1m
- Reserves +€470,273
up €470,273 (+305%), from €154,304 to €624,577
of which Tax-exempt reserves: +€470,273
- Other debts -€332,370
down €332,370 (-5.7%), from €5.8m to €5.5m
- Provisions +€156,758
new in 2025: €156,758
Income statement
- Financial income +€252,337
up €252,337 (+50.5%), from €500,001 to €752,338
- Financial charges +€235,401
up €235,401 (+224%), from €105,008 to €340,409
of which Non-recurring financial charges: +€225,706
- Turnover -€84,191
down €84,191 (-11.1%), from €756,861 to €672,670
- Other operating income +€42,348
up €42,348 (+47.3%), from €89,623 to €131,970
- Staff costs +€37,987
up €37,987 (+25.0%), from €152,246 to €190,233
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
€372,092
Turnover
-€84,191
Other operating income
+€42,348
Goods and materials
+€9,876
Services and other goods
+€5,101
Staff costs
-€37,987
Depreciation
-€8,572
Other operating charges
-€11,622
Other operating items
+€8,512
Financial income
+€252,337
Financial charges
-€235,401
Taxes
-€153
Result 2025
€312,340
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€255,500
Investment
+€900,000
Financing
-€1.2m
Cash 2024
€39,480
From operations (derived)
+€255,500
Net result for the year
+€312,340
Depreciation
+€125,946
Receivables within one year
-€29,785
Smaller working-capital items
-€3,393
Provisions
+€156,758
Trade debts
+€26,005
Other debts
-€332,370
Investment (derived)
+€900,000
Investment in fixed assets (net)
+€900,000
Financing
-€1.2m
Debts after one year
-€523,970
Current portion of long-term debt
-€109,643
Contributions, distributions and other
-€533,627
Cash 2025
€27,740
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,929,457 | €8,922,882 | -€1.0m | -10.1% |
| Formation expenses | 20 | €14,659 | €11,727 | -€2,932 | -20.0% |
| Fixed assets | 21/28 | €9,756,337 | €8,733,323 | -€1.0m | -10.5% |
| Tangible fixed assets | 22/27 | €1,656,337 | €1,533,323 | -€123,014 | -7.4% |
| Land and buildings | 22 | €1,538,446 | €1,446,629 | -€91,817 | -6.0% |
| Plant, machinery and equipment | 23 | €1,192 | €677 | -€515 | -43.2% |
| Furniture and vehicles | 24 | €23,437 | €14,672 | -€8,766 | -37.4% |
| Leasing and similar rights | 25 | €4,080 | €0 | -€4,080 | -100% |
| Other tangible fixed assets | 26 | €89,181 | €71,344 | -€17,836 | -20.0% |
| Financial fixed assets | 28 | €8,100,000 | €7,200,000 | -€900,000 | -11.1% |
| Affiliated companies | 280/1 | €8,100,000 | €7,200,000 | -€900,000 | -11.1% |
| Participating interests | 280 | €8,100,000 | €7,200,000 | -€900,000 | -11.1% |
| Current assets | 29/58 | €158,461 | €177,832 | +€19,371 | +12.2% |
| Amounts receivable within one year | 40/41 | €118,103 | €147,888 | +€29,785 | +25.2% |
| Trade receivables | 40 | €81,706 | €97,963 | +€16,257 | +19.9% |
| Other amounts receivable | 41 | €36,397 | €49,924 | +€13,528 | +37.2% |
| Cash at bank and in hand | 54/58 | €39,480 | €27,740 | -€11,740 | -29.7% |
| Deferred charges and accrued income | 490/1 | €879 | €2,205 | +€1,326 | +151% |
| Total equity and liabilities | 10/49 | €9,929,457 | €8,922,882 | -€1.0m | -10.1% |
| Equity | 10/15 | €2,141,833 | €1,920,546 | -€221,288 | -10.3% |
| Contributions | 10/11 | €1,102,417 | €1,102,417 | = | 0.0% |
| Capital | 10 | €1,102,417 | €1,102,417 | = | 0.0% |
| Issued capital | 100 | €1,243,042 | €1,243,042 | = | 0.0% |
| Uncalled capital | 101 | €140,625 | €140,625 | = | 0.0% |
| Reserves | 13 | €154,304 | €624,577 | +€470,273 | +305% |
| Non-distributable reserves | 130/1 | €124,304 | €124,304 | = | 0.0% |
| Legal reserve | 130 | €124,304 | €124,304 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,000 | €500,273 | +€470,273 | +1,568% |
| Profit (loss) carried forward | 14 | €885,112 | €193,552 | -€691,560 | -78.1% |
| Provisions and deferred taxes | 16 | - | €156,758 | +€156,758 | |
| Deferred taxes | 168 | - | €156,758 | +€156,758 | |
| Amounts payable | 17/49 | €7,787,623 | €6,845,579 | -€942,045 | -12.1% |
| Amounts payable after more than one year | 17 | €1,629,686 | €1,105,716 | -€523,970 | -32.2% |
| Financial debts | 170/4 | €1,629,686 | €1,105,716 | -€523,970 | -32.2% |
| Credit institutions | 173 | €1,629,686 | €1,105,716 | -€523,970 | -32.2% |
| Amounts payable within one year | 42/48 | €6,157,937 | €5,739,863 | -€418,075 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €277,149 | €167,506 | -€109,643 | -39.6% |
| Trade debts | 44 | €67,605 | €93,609 | +€26,005 | +38.5% |
| Suppliers | 440/4 | €67,605 | €93,609 | +€26,005 | +38.5% |
| Taxes, remuneration and social security | 45 | €19,554 | €17,487 | -€2,067 | -10.6% |
| Taxes | 450/3 | €0 | €0 | = | |
| Remuneration and social security | 454/9 | €19,554 | €17,487 | -€2,067 | -10.6% |
| Other amounts payable | 47/48 | €5,793,629 | €5,461,259 | -€332,370 | -5.7% |
| Operating income | 70/76A | €846,484 | €817,477 | -€29,007 | -3.4% |
| Turnover | 70 | €756,861 | €672,670 | -€84,191 | -11.1% |
| Other operating income | 74 | €89,623 | €131,970 | +€42,348 | +47.3% |
| Non-recurring operating income | 76A | - | €12,836 | +€12,836 | |
| Operating charges | 60/66A | €865,911 | €913,439 | +€47,528 | +5.5% |
| Goods for resale, raw materials and consumables | 60 | €100,361 | €90,485 | -€9,876 | -9.8% |
| Purchases | 600/8 | €100,361 | €90,485 | -€9,876 | -9.8% |
| Services and other goods | 61 | €483,253 | €478,152 | -€5,101 | -1.1% |
| Remuneration, social security and pensions | 62 | €152,246 | €190,233 | +€37,987 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,374 | €125,946 | +€8,572 | +7.3% |
| Other operating charges | 640/8 | €11,021 | €22,643 | +€11,622 | +105% |
| Non-recurring operating charges | 66A | €1,656 | €5,980 | +€4,324 | +261% |
| Operating profit (loss) | 9901 | -€19,426 | -€95,962 | -€76,535 | -394% |
| Financial income | 75/76B | €500,001 | €752,338 | +€252,337 | +50.5% |
| Recurring financial income | 75 | €500,001 | €752,338 | +€252,337 | +50.5% |
| Income from financial fixed assets | 750 | €500,001 | €750,249 | +€250,248 | +50.0% |
| Other financial income | 752/9 | - | €2,089 | +€2,089 | |
| Financial charges | 65/66B | €105,008 | €340,409 | +€235,401 | +224% |
| Recurring financial charges | 65 | €105,008 | €114,703 | +€9,695 | +9.2% |
| Debt charges | 650 | €102,153 | €111,949 | +€9,796 | +9.6% |
| Other financial charges | 652/9 | €2,855 | €2,754 | -€101 | -3.5% |
| Non-recurring financial charges | 66B | - | €225,706 | +€225,706 | |
| Profit (loss) for the period before taxes | 9903 | €375,567 | €315,967 | -€59,599 | -15.9% |
| Income taxes | 67/77 | €3,475 | €3,628 | +€153 | +4.4% |
| Taxes | 670/3 | €21,213 | €21,840 | +€627 | +3.0% |
| Tax adjustments and reversals of tax provisions | 77 | €17,738 | €18,212 | +€474 | +2.7% |
| Profit (loss) for the period | 9904 | €372,092 | €312,340 | -€59,752 | -16.1% |
| Transfer to tax-exempt reserves | 689 | - | €479,900 | +€479,900 | |
| Profit (loss) for the period to be appropriated | 9905 | €372,092 | -€167,560 | -€539,652 |
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.