ARCALU: 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.
ARCALU
Largest movements
- Tangible fixed assets +€289,856
up €289,856 (+12.5%), from €2.3m to €2.6m
of which Plant, machinery and equipment: +€350,862
- Cash -€171,499
down €171,499 (-58.6%), from €292,719 to €121,220
mainly Investment in fixed assets (net) (-€623,141) and Trade debts (-€68,456)
- Debts after one year +€209,366
up €209,366 (+15.8%), from €1.3m to €1.5m
- Reserves +€105,303
up €105,303 (+12.1%), from €870,494 to €975,797
of which Distributable reserves: +€105,303
- Trade debts -€68,456
down €68,456 (-38.5%), from €177,892 to €109,436
- Other debts -€51,138
down €51,138 (-12.1%), from €421,114 to €369,976
- Current portion of long-term debt +€41,619
up €41,619 (+23.6%), from €176,475 to €218,094
- Gross operating margin -€126,601
down €126,601 (-12.4%), from €1.0m to €898,233
- Taxes -€55,311
down €55,311 (-73.6%), from €75,169 to €19,858
- Depreciation +€47,295
up €47,295 (+17.4%), from €272,516 to €319,811
- Financial charges -€21,584
down €21,584 (-33.9%), from €63,744 to €42,161
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 | €3,240,673 | €3,396,774 | +€156,101 | +4.8% |
| Fixed assets | 21/28 | €2,324,313 | €2,627,643 | +€303,330 | +13.1% |
| Intangible fixed assets | 21 | - | €13,474 | +€13,474 | |
| Tangible fixed assets | 22/27 | €2,324,099 | €2,613,955 | +€289,856 | +12.5% |
| Land and buildings | 22 | €1,761,467 | €1,709,880 | -€51,587 | -2.9% |
| Plant, machinery and equipment | 23 | €532,486 | €883,348 | +€350,862 | +65.9% |
| Furniture and vehicles | 24 | €30,146 | €20,727 | -€9,419 | -31.2% |
| Financial fixed assets | 28 | €214 | €214 | = | 0.0% |
| Current assets | 29/58 | €916,360 | €769,131 | -€147,229 | -16.1% |
| Stocks and contracts in progress | 3 | €198,113 | €194,541 | -€3,572 | -1.8% |
| Stocks | 30/36 | €198,113 | €194,541 | -€3,572 | -1.8% |
| Amounts receivable within one year | 40/41 | €393,008 | €418,098 | +€25,090 | +6.4% |
| Trade receivables | 40 | €382,628 | €373,957 | -€8,671 | -2.3% |
| Other amounts receivable | 41 | €10,380 | €44,141 | +€33,761 | +325% |
| Cash at bank and in hand | 54/58 | €292,719 | €121,220 | -€171,499 | -58.6% |
| Deferred charges and accrued income | 490/1 | €32,520 | €35,271 | +€2,751 | +8.5% |
| Total equity and liabilities | 10/49 | €3,240,673 | €3,396,774 | +€156,101 | +4.8% |
| Equity | 10/15 | €986,414 | €1,063,277 | +€76,863 | +7.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €870,494 | €975,797 | +€105,303 | +12.1% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €864,494 | €969,797 | +€105,303 | +12.2% |
| Investment grants | 15 | €55,920 | €27,480 | -€28,440 | -50.9% |
| Amounts payable | 17/49 | €2,254,259 | €2,333,497 | +€79,238 | +3.5% |
| Amounts payable after more than one year | 17 | €1,326,529 | €1,535,894 | +€209,366 | +15.8% |
| Financial debts | 170/4 | €1,326,529 | €1,535,894 | +€209,366 | +15.8% |
| Amounts payable within one year | 42/48 | €870,706 | €764,325 | -€106,381 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €176,475 | €218,094 | +€41,619 | +23.6% |
| Trade debts | 44 | €177,892 | €109,436 | -€68,456 | -38.5% |
| Suppliers | 440/4 | €177,892 | €109,436 | -€68,456 | -38.5% |
| Taxes, remuneration and social security | 45 | €95,225 | €66,819 | -€28,406 | -29.8% |
| Taxes | 450/3 | €41,648 | €7,293 | -€34,355 | -82.5% |
| Remuneration and social security | 454/9 | €53,577 | €59,526 | +€5,949 | +11.1% |
| Other amounts payable | 47/48 | €421,114 | €369,976 | -€51,138 | -12.1% |
| Accrued charges and deferred income | 492/3 | €57,025 | €33,277 | -€23,747 | -41.6% |
| Remuneration, social security and pensions | 62 | €422,074 | €414,217 | -€7,856 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €272,516 | €319,811 | +€47,295 | +17.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,639 | -€1,639 | -€3,277 | |
| Other operating charges | 640/8 | €17,031 | €22,993 | +€5,962 | +35.0% |
| Gross operating margin | 9900 | €1,024,834 | €898,233 | -€126,601 | -12.4% |
| Operating profit (loss) | 9901 | €311,575 | €142,849 | -€168,726 | -54.2% |
| Financial income | 75/76B | €30,199 | €29,885 | -€314 | -1.0% |
| Recurring financial income | 75 | €30,199 | €29,885 | -€314 | -1.0% |
| Financial charges | 65/66B | €63,744 | €42,161 | -€21,584 | -33.9% |
| Recurring financial charges | 65 | €63,744 | €42,161 | -€21,584 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €278,029 | €130,573 | -€147,456 | -53.0% |
| Income taxes | 67/77 | €75,169 | €19,858 | -€55,311 | -73.6% |
| Profit (loss) for the period | 9904 | €202,860 | €110,715 | -€92,145 | -45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €202,860 | €110,715 | -€92,145 | -45.4% |
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 18 October 2026 via checked.be.