ARCANA: what changed
Two fiscal 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.
ARCANA
Largest movements
- Receivables after one year -€34,800
down €34,800 (-48.7%), from €71,500 to €36,700
- Receivables within one year +€23,850
up €23,850 (+190.8%), from €12,497 to €36,347
of which Other amounts receivable: +€23,292
- Tangible fixed assets -€21,500
down €21,500 (-23.0%), from €93,323 to €71,823
- Reserves -€20,103
down €20,103 (-26.5%), from €75,826 to €55,723
of which Tax-exempt reserves: -€20,103
- Debts after one year -€12,550
down €12,550 (-79.8%), from €15,729 to €3,179
- Profit (loss) carried forward +€6,561
up €6,561, from -€5,159 to €1,402
- Other debts -€3,037
no longer reported in 2025 (was €3,037)
- Trade debts -€2,522
down €2,522 (-87.1%), from €2,894 to €372
- Gross operating margin +€5,947
up €5,947 (+76.0%), from €7,821 to €13,768
- Financial income -€2,981
no longer reported in 2025 (was €2,981)
of which Financial income: -€2,981
- Financial charges +€1,588
up €1,588 (+129.0%), from €1,231 to €2,819
- Taxes +€1,451
up €1,451 (+868.9%), from €167 to €1,618
- Other operating charges -€159
down €159 (-10.4%), from €1,532 to €1,373
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €180,213 | €148,483 | -€31,730 | -17.6% |
| Fixed assets | 21/28 | €94,787 | €73,287 | -€21,500 | -22.7% |
| Tangible fixed assets | 22/27 | €93,323 | €71,823 | -€21,500 | -23.0% |
| Land and buildings | 22 | €93,323 | €71,823 | -€21,500 | -23.0% |
| Financial fixed assets | 28 | €1,464 | €1,464 | = | 0.0% |
| Current assets | 29/58 | €85,426 | €75,196 | -€10,230 | -12.0% |
| Amounts receivable after more than one year | 29 | €71,500 | €36,700 | -€34,800 | -48.7% |
| Other amounts receivable | 291 | €71,500 | €36,700 | -€34,800 | -48.7% |
| Amounts receivable within one year | 40/41 | €12,497 | €36,347 | +€23,850 | +190.8% |
| Trade receivables | 40 | €271 | €829 | +€558 | +205.9% |
| Other amounts receivable | 41 | €12,226 | €35,518 | +€23,292 | +190.5% |
| Cash at bank and in hand | 54/58 | €1,429 | €2,149 | +€720 | +50.4% |
| Total equity and liabilities | 10/49 | €180,213 | €148,483 | -€31,730 | -17.6% |
| Equity | 10/15 | €145,035 | €131,493 | -€13,542 | -9.3% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €75,826 | €55,723 | -€20,103 | -26.5% |
| Non-distributable reserves | 130/1 | €4,552 | €4,552 | = | 0.0% |
| Legal reserve | 130 | €4,552 | €4,552 | = | 0.0% |
| Tax-exempt reserves | 132 | €59,232 | €39,129 | -€20,103 | -33.9% |
| Distributable reserves | 133 | €12,042 | €12,042 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,159 | €1,402 | +€6,561 | |
| Amounts payable | 17/49 | €35,178 | €16,990 | -€18,188 | -51.7% |
| Amounts payable after more than one year | 17 | €15,729 | €3,179 | -€12,550 | -79.8% |
| Financial debts | 170/4 | €15,729 | €3,179 | -€12,550 | -79.8% |
| Amounts payable within one year | 42/48 | €19,049 | €13,811 | -€5,238 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €12,289 | €12,549 | +€260 | +2.1% |
| Trade debts | 44 | €2,894 | €372 | -€2,522 | -87.1% |
| Suppliers | 440/4 | €2,894 | €372 | -€2,522 | -87.1% |
| Taxes, remuneration and social security | 45 | €829 | €890 | +€61 | +7.4% |
| Taxes | 450/3 | €829 | €890 | +€61 | +7.4% |
| Other amounts payable | 47/48 | €3,037 | - | -€3,037 | |
| Accrued charges and deferred income | 492/3 | €400 | - | -€400 | |
| Non-recurring operating income | 76A | €30,561 | €150 | -€30,411 | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,500 | €21,500 | = | 0.0% |
| Other operating charges | 640/8 | €1,532 | €1,373 | -€159 | -10.4% |
| Gross operating margin | 9900 | €7,821 | €13,768 | +€5,947 | +76.0% |
| Operating profit (loss) | 9901 | -€15,211 | -€9,105 | +€6,106 | +40.1% |
| Financial income | 75/76B | €2,981 | - | -€2,981 | |
| Recurring financial income | 75 | €2,981 | - | -€2,981 | |
| Non-recurring financial income | 76B | €2,981 | - | -€2,981 | |
| Financial charges | 65/66B | €1,231 | €2,819 | +€1,588 | +129.0% |
| Recurring financial charges | 65 | €1,231 | €2,819 | +€1,588 | +129.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,461 | -€11,924 | +€1,537 | +11.4% |
| Income taxes | 67/77 | €167 | €1,618 | +€1,451 | +868.9% |
| Profit (loss) for the period | 9904 | -€13,628 | -€13,542 | +€86 | +0.6% |
| Transfer from tax-exempt reserves | 789 | €20,103 | €20,103 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,475 | €6,561 | +€86 | +1.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.