ARCC: 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.
ARCC
Largest movements
- Receivables after one year +€60,000
new in 2025: €60,000
- Stocks and contracts -€37,382
down €37,382 (-3.4%), from €1.1m to €1.1m
- Receivables within one year -€19,519
down €19,519 (-3.5%), from €553,969 to €534,449
of which Other amounts receivable: -€19,519
- Profit (loss) carried forward +€135,266
up €135,266 (+28.4%), from -€475,994 to -€340,728
- Other debts -€120,000
down €120,000 (-7.9%), from €1.5m to €1.4m
- Trade debts -€31,087
down €31,087 (-21.1%), from €147,202 to €116,115
- Gross operating margin +€173,696
up €173,696, from -€26,773 to €146,922
- Taxes +€6,376
new in 2025: €6,376
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 | €1,734,133 | €1,740,987 | +€6,854 | +0.4% |
| Fixed assets | 21/28 | €29,800 | €26,075 | -€3,725 | -12.5% |
| Tangible fixed assets | 22/27 | €29,800 | €26,075 | -€3,725 | -12.5% |
| Land and buildings | 22 | €29,800 | €26,075 | -€3,725 | -12.5% |
| Current assets | 29/58 | €1,704,333 | €1,714,912 | +€10,579 | +0.6% |
| Amounts receivable after more than one year | 29 | - | €60,000 | +€60,000 | |
| Other amounts receivable | 291 | - | €60,000 | +€60,000 | |
| Stocks and contracts in progress | 3 | €1,101,375 | €1,063,993 | -€37,382 | -3.4% |
| Stocks | 30/36 | €1,101,375 | €1,063,993 | -€37,382 | -3.4% |
| Amounts receivable within one year | 40/41 | €553,969 | €534,449 | -€19,519 | -3.5% |
| Trade receivables | 40 | €522,187 | €522,187 | = | 0.0% |
| Other amounts receivable | 41 | €31,782 | €12,262 | -€19,519 | -61.4% |
| Cash at bank and in hand | 54/58 | €2,406 | €10,588 | +€8,182 | +340.1% |
| Deferred charges and accrued income | 490/1 | €46,583 | €45,882 | -€701 | -1.5% |
| Total equity and liabilities | 10/49 | €1,734,133 | €1,740,987 | +€6,854 | +0.4% |
| Equity | 10/15 | €29,153 | €164,419 | +€135,266 | +464.0% |
| Contributions | 10/11 | €372,000 | €372,000 | = | 0.0% |
| Capital | 10 | €372,000 | €372,000 | = | 0.0% |
| Issued capital | 100 | €372,000 | €372,000 | = | 0.0% |
| Reserves | 13 | €133,147 | €133,147 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,029 | €7,029 | = | 0.0% |
| Legal reserve | 130 | €7,029 | €7,029 | = | 0.0% |
| Distributable reserves | 133 | €126,118 | €126,118 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€475,994 | -€340,728 | +€135,266 | +28.4% |
| Amounts payable | 17/49 | €1,704,979 | €1,576,567 | -€128,412 | -7.5% |
| Amounts payable within one year | 42/48 | €1,662,773 | €1,518,062 | -€144,711 | -8.7% |
| Trade debts | 44 | €147,202 | €116,115 | -€31,087 | -21.1% |
| Suppliers | 440/4 | €147,202 | €116,115 | -€31,087 | -21.1% |
| Taxes, remuneration and social security | 45 | - | €6,376 | +€6,376 | |
| Taxes | 450/3 | - | €6,376 | +€6,376 | |
| Other amounts payable | 47/48 | €1,515,571 | €1,395,571 | -€120,000 | -7.9% |
| Accrued charges and deferred income | 492/3 | €42,207 | €58,506 | +€16,299 | +38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,725 | €3,725 | = | 0.0% |
| Other operating charges | 640/8 | €1,417 | €1,502 | +€86 | +6.1% |
| Gross operating margin | 9900 | -€26,773 | €146,922 | +€173,696 | |
| Operating profit (loss) | 9901 | -€31,915 | €141,695 | +€173,610 | |
| Financial charges | 65/66B | €51 | €53 | +€1 | +2.9% |
| Recurring financial charges | 65 | €51 | €53 | +€1 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€31,966 | €141,642 | +€173,608 | |
| Income taxes | 67/77 | - | €6,376 | +€6,376 | |
| Profit (loss) for the period | 9904 | -€31,966 | €135,266 | +€167,232 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,966 | €135,266 | +€167,232 |
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 4 October 2026 via checked.be.