ARCASA: 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.
ARCASA
Largest movements
- Receivables within one year +€204,342
up €204,342 (+25.6%), from €797,775 to €1.0m
of which Trade receivables: +€131,994
- Cash -€101,851
down €101,851 (-36.0%), from €282,879 to €181,028
mainly Short-term financial debts (-€225,000) and Receivables within one year (-€204,342)
- Short-term financial debts -€225,000
down €225,000 (-64.3%), from €350,000 to €125,000
- Debts after one year +€188,473
up €188,473, from €0 to €188,473
- Profit (loss) carried forward +€101,065
up €101,065 (+185.5%), from €54,473 to €155,538
- Advances received +€34,776
up €34,776 (+21.7%), from €160,556 to €195,332
- Trade debts -€31,188
down €31,188 (-30.4%), from €102,438 to €71,249
- Gross operating margin +€165,835
up €165,835 (+48.1%), from €344,978 to €510,813
- Taxes +€37,923
up €37,923 (+241.4%), from €15,713 to €53,636
- Staff costs +€34,468
up €34,468 (+12.5%), from €276,182 to €310,650
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 | €1,123,012 | €1,213,608 | +€90,597 | +8.1% |
| Fixed assets | 21/28 | €42,358 | €30,463 | -€11,894 | -28.1% |
| Tangible fixed assets | 22/27 | €42,358 | €30,463 | -€11,894 | -28.1% |
| Furniture and vehicles | 24 | €11,964 | €7,292 | -€4,672 | -39.0% |
| Other tangible fixed assets | 26 | €30,394 | €23,171 | -€7,222 | -23.8% |
| Current assets | 29/58 | €1,080,654 | €1,183,145 | +€102,491 | +9.5% |
| Amounts receivable within one year | 40/41 | €797,775 | €1,002,116 | +€204,342 | +25.6% |
| Trade receivables | 40 | €453,097 | €585,091 | +€131,994 | +29.1% |
| Other amounts receivable | 41 | €344,678 | €417,025 | +€72,347 | +21.0% |
| Cash at bank and in hand | 54/58 | €282,879 | €181,028 | -€101,851 | -36.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,123,012 | €1,213,608 | +€90,597 | +8.1% |
| Equity | 10/15 | €406,473 | €507,538 | +€101,065 | +24.9% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,473 | €155,538 | +€101,065 | +185.5% |
| Amounts payable | 17/49 | €716,538 | €706,070 | -€10,468 | -1.5% |
| Amounts payable after more than one year | 17 | €0 | €188,473 | +€188,473 | |
| Financial debts | 170/4 | €0 | €188,473 | +€188,473 | |
| Amounts payable within one year | 42/48 | €716,538 | €517,597 | -€198,941 | -27.8% |
| Current portion of amounts payable after more than one year | 42 | €2,508 | €20,985 | +€18,477 | +736.8% |
| Financial debts | 43 | €350,000 | €125,000 | -€225,000 | -64.3% |
| Other loans | 439 | €350,000 | €125,000 | -€225,000 | -64.3% |
| Trade debts | 44 | €102,438 | €71,249 | -€31,188 | -30.4% |
| Suppliers | 440/4 | €102,438 | €71,249 | -€31,188 | -30.4% |
| Advances received on contracts in progress | 46 | €160,556 | €195,332 | +€34,776 | +21.7% |
| Taxes, remuneration and social security | 45 | €101,037 | €105,031 | +€3,994 | +4.0% |
| Taxes | 450/3 | €80,740 | €69,038 | -€11,702 | -14.5% |
| Remuneration and social security | 454/9 | €20,297 | €35,993 | +€15,696 | +77.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €276,182 | €310,650 | +€34,468 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,143 | €11,894 | -€248 | -2.0% |
| Other operating charges | 640/8 | €4,343 | €2,831 | -€1,512 | -34.8% |
| Non-recurring operating charges | 66A | €2,384 | - | -€2,384 | |
| Gross operating margin | 9900 | €344,978 | €510,813 | +€165,835 | +48.1% |
| Operating profit (loss) | 9901 | €49,928 | €185,439 | +€135,511 | +271.4% |
| Financial income | 75/76B | €236 | €0 | -€236 | -100.0% |
| Recurring financial income | 75 | €236 | €0 | -€236 | -100.0% |
| Financial charges | 65/66B | €26,399 | €30,737 | +€4,338 | +16.4% |
| Recurring financial charges | 65 | €26,399 | €30,737 | +€4,338 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €23,764 | €154,701 | +€130,937 | +551.0% |
| Income taxes | 67/77 | €15,713 | €53,636 | +€37,923 | +241.4% |
| Profit (loss) for the period | 9904 | €8,051 | €101,065 | +€93,013 | +1155.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,051 | €101,065 | +€93,013 | +1155.2% |
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 9 October 2026 via checked.be.