ARCEGO: 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.
ARCEGO
Largest movements
- Tangible fixed assets -€15,123
down €15,123 (-25.0%), from €60,516 to €45,393
of which Furniture and vehicles: -€8,249
- Intangible fixed assets -€11,939
down €11,939 (-21.1%), from €56,654 to €44,715
- Financial fixed assets -€10,000
down €10,000 (-100%), from €10,000 to €0
- Cash -€6,366
down €6,366 (-37.7%), from €16,869 to €10,503
mainly Debts after one year (-€25,074) and Current portion of long-term debt (-€8,149)
- Receivables within one year -€4,200
down €4,200 (-30.5%), from €13,772 to €9,573
of which Trade receivables: -€4,200
- Debts after one year -€25,074
down €25,074 (-70.9%), from €35,390 to €10,316
- Current portion of long-term debt -€8,149
down €8,149 (-24.5%), from €33,223 to €25,074
- Other debts -€7,408
down €7,408 (-18.3%), from €40,397 to €32,989
- Tax, wage and social debts -€3,722
down €3,722 (-22.6%), from €16,447 to €12,725
of which Remuneration and social security: -€3,538
- Trade debts -€3,524
down €3,524 (-17.3%), from €20,391 to €16,867
- Gross operating margin -€13,016
down €13,016 (-10.9%), from €119,208 to €106,192
- Write-downs -€10,000
no longer reported in 2025 (was €10,000)
- Financial charges -€2,354
down €2,354 (-24.2%), from €9,716 to €7,362
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 | €208,143 | €159,704 | -€48,440 | -23.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €127,170 | €90,108 | -€37,062 | -29.1% |
| Intangible fixed assets | 21 | €56,654 | €44,715 | -€11,939 | -21.1% |
| Tangible fixed assets | 22/27 | €60,516 | €45,393 | -€15,123 | -25.0% |
| Furniture and vehicles | 24 | €11,899 | €3,651 | -€8,249 | -69.3% |
| Other tangible fixed assets | 26 | €48,616 | €41,742 | -€6,874 | -14.1% |
| Financial fixed assets | 28 | €10,000 | €0 | -€10,000 | -100% |
| Current assets | 29/58 | €80,973 | €69,596 | -€11,378 | -14.1% |
| Stocks and contracts in progress | 3 | €49,587 | €48,713 | -€873 | -1.8% |
| Stocks | 30/36 | €49,587 | €48,713 | -€873 | -1.8% |
| Amounts receivable within one year | 40/41 | €13,772 | €9,573 | -€4,200 | -30.5% |
| Trade receivables | 40 | €13,772 | €9,573 | -€4,200 | -30.5% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €16,869 | €10,503 | -€6,366 | -37.7% |
| Deferred charges and accrued income | 490/1 | €745 | €807 | +€61 | +8.2% |
| Total equity and liabilities | 10/49 | €208,143 | €159,704 | -€48,440 | -23.3% |
| Equity | 10/15 | €62,295 | €61,732 | -€563 | -0.9% |
| Contributions | 10/11 | €18,530 | €18,530 | = | 0.0% |
| Capital | 10 | €18,530 | €18,530 | = | 0.0% |
| Issued capital | 100 | €18,530 | €18,530 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,765 | €43,202 | -€563 | -1.3% |
| Amounts payable | 17/49 | €145,848 | €97,972 | -€47,877 | -32.8% |
| Amounts payable after more than one year | 17 | €35,390 | €10,316 | -€25,074 | -70.9% |
| Financial debts | 170/4 | €35,390 | €10,316 | -€25,074 | -70.9% |
| Amounts payable within one year | 42/48 | €110,458 | €87,656 | -€22,803 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €33,223 | €25,074 | -€8,149 | -24.5% |
| Trade debts | 44 | €20,391 | €16,867 | -€3,524 | -17.3% |
| Suppliers | 440/4 | €20,391 | €16,867 | -€3,524 | -17.3% |
| Taxes, remuneration and social security | 45 | €16,447 | €12,725 | -€3,722 | -22.6% |
| Taxes | 450/3 | €5,735 | €5,551 | -€184 | -3.2% |
| Remuneration and social security | 454/9 | €10,712 | €7,174 | -€3,538 | -33.0% |
| Other amounts payable | 47/48 | €40,397 | €32,989 | -€7,408 | -18.3% |
| Remuneration, social security and pensions | 62 | €59,424 | €58,448 | -€976 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,869 | €27,062 | -€807 | -2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,000 | - | -€10,000 | |
| Other operating charges | 640/8 | €494 | €506 | +€12 | +2.5% |
| Non-recurring operating charges | 66A | - | €10,000 | +€10,000 | |
| Gross operating margin | 9900 | €119,208 | €106,192 | -€13,016 | -10.9% |
| Operating profit (loss) | 9901 | €21,421 | €10,176 | -€11,245 | -52.5% |
| Financial charges | 65/66B | €9,716 | €7,362 | -€2,354 | -24.2% |
| Recurring financial charges | 65 | €9,716 | €7,362 | -€2,354 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €11,705 | €2,814 | -€8,892 | -76.0% |
| Income taxes | 67/77 | €2,947 | €3,377 | +€430 | +14.6% |
| Profit (loss) for the period | 9904 | €8,759 | -€563 | -€9,322 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,759 | -€563 | -€9,322 |
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 28 October 2026 via checked.be.