ARCEO: what changed
What changed
ARCEO
NACE 24.100, Manufacture of basic metals
filed annual accounts (NBB)
Net result for the year
€4.8m
2024 · €7.8m-€3.0m
Equity
€139.1m
2024 · €214.1m-€75.0m
Cash
€93.7m
2024 · €101.7m-€8.0m
Balance sheet total
€144.1m
2024 · €221.9m-€77.8m
Largest movements
Assets
- Current investments -€63.4m
down €63.4m (-77.9%), from €81.5m to €18.0m
- Cash -€8.0m
down €8.0m (-7.8%), from €101.7m to €93.7m
mainly Contributions, distributions and other (-€79.8m) and Other debts (-€2.8m)
- Receivables after one year -€4.2m
down €4.2m (-14.0%), from €29.9m to €25.7m
Equity and liabilities
- Contributions -€75.2m
down €75.2m (-35.5%), from €211.6m to €136.4m
- Other debts -€2.8m
down €2.8m (-38.4%), from €7.4m to €4.6m
Income statement
- Financial income -€3.2m
down €3.2m (-37.5%), from €8.5m to €5.3m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€7.8m
Other operating income
-€20,606
Services and other goods
+€511
Write-downs
-€918,333
Other operating charges
+€1.0m
Other operating items
-€25,920
Financial income
-€3.2m
Financial charges
-€297
Taxes
+€165,448
Result 2025
€4.8m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€8.3m
Investment
+€63.4m
Financing
-€79.8m
Cash 2024
€101.7m
From operations (derived)
+€8.3m
Net result for the year
+€4.8m
Receivables after one year
+€4.2m
Receivables within one year
+€1.5m
Deferred charges and accrued income
+€688,628
Trade debts
+€5,935
Other debts
-€2.8m
Investment (derived)
+€63.4m
Current investments
+€63.4m
Financing
-€79.8m
Contributions, distributions and other
-€79.8m
Cash 2025
€93.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €221,860,787 | €144,061,089 | -€77.8m | -35.1% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Assets under construction and advance payments | 27 | €0 | €0 | = | |
| Current assets | 29/58 | €221,860,787 | €144,061,089 | -€77.8m | -35.1% |
| Amounts receivable after more than one year | 29 | €29,853,938 | €25,669,500 | -€4.2m | -14.0% |
| Trade receivables | 290 | €29,853,938 | €25,669,500 | -€4.2m | -14.0% |
| Amounts receivable within one year | 40/41 | €8,039,394 | €6,533,042 | -€1.5m | -18.7% |
| Trade receivables | 40 | €6,259,851 | €4,680,781 | -€1.6m | -25.2% |
| Other amounts receivable | 41 | €1,779,543 | €1,852,261 | +€72,718 | +4.1% |
| Current investments | 50/53 | €81,450,270 | €18,001,463 | -€63.4m | -77.9% |
| Other investments | 51/53 | €81,450,270 | €18,001,463 | -€63.4m | -77.9% |
| Cash at bank and in hand | 54/58 | €101,673,185 | €93,701,712 | -€8.0m | -7.8% |
| Deferred charges and accrued income | 490/1 | €844,001 | €155,373 | -€688,628 | -81.6% |
| Total equity and liabilities | 10/49 | €221,860,787 | €144,061,089 | -€77.8m | -35.1% |
| Equity | 10/15 | €214,071,972 | €139,111,018 | -€75.0m | -35.0% |
| Contributions | 10/11 | €211,609,693 | €136,408,747 | -€75.2m | -35.5% |
| Capital | 10 | €211,609,693 | €136,408,747 | -€75.2m | -35.5% |
| Issued capital | 100 | €211,609,693 | €136,408,747 | -€75.2m | -35.5% |
| Reserves | 13 | €2,462,279 | €2,702,271 | +€239,992 | +9.7% |
| Non-distributable reserves | 130/1 | €2,462,279 | €2,702,271 | +€239,992 | +9.7% |
| Legal reserve | 130 | €2,462,279 | €2,702,271 | +€239,992 | +9.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €7,788,815 | €4,950,072 | -€2.8m | -36.4% |
| Amounts payable after more than one year | 17 | €132,436 | €132,436 | = | 0.0% |
| Financial debts | 170/4 | €132,436 | €132,436 | = | 0.0% |
| Other loans | 174 | €132,436 | €132,436 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,656,379 | €4,817,636 | -€2.8m | -37.1% |
| Trade debts | 44 | €251,850 | €257,785 | +€5,935 | +2.4% |
| Suppliers | 440/4 | €251,850 | €257,785 | +€5,935 | +2.4% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €7,404,529 | €4,559,850 | -€2.8m | -38.4% |
| Operating income | 70/76A | €260,049 | €213,523 | -€46,525 | -17.9% |
| Turnover | 70 | €0 | €0 | = | |
| Other operating income | 74 | €234,129 | €213,523 | -€20,606 | -8.8% |
| Non-recurring operating income | 76A | €25,920 | - | -€25,920 | |
| Operating charges | 60/66A | €531,612 | €444,891 | -€86,721 | -16.3% |
| Services and other goods | 61 | €388,211 | €387,700 | -€511 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€918,333 | - | +€918,333 | |
| Other operating charges | 640/8 | €1,061,734 | €57,191 | -€1.0m | -94.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | -€271,563 | -€231,367 | +€40,196 | +14.8% |
| Financial income | 75/76B | €8,543,589 | €5,343,843 | -€3.2m | -37.5% |
| Recurring financial income | 75 | €8,543,589 | €5,343,843 | -€3.2m | -37.5% |
| Income from financial fixed assets | 750 | €2,007,526 | €1,796,362 | -€211,165 | -10.5% |
| Income from current assets | 751 | €6,536,063 | €3,547,482 | -€3.0m | -45.7% |
| Other financial income | 752/9 | €0 | €0 | +€0 | +10.0% |
| Financial charges | 65/66B | €1,264 | €1,561 | +€297 | +23.5% |
| Recurring financial charges | 65 | €1,264 | €1,561 | +€297 | +23.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €0 | = | |
| Other financial charges | 652/9 | €1,264 | €1,561 | +€297 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €8,270,762 | €5,110,915 | -€3.2m | -38.2% |
| Income taxes | 67/77 | €476,521 | €311,072 | -€165,448 | -34.7% |
| Taxes | 670/3 | €476,521 | €311,072 | -€165,448 | -34.7% |
| Profit (loss) for the period | 9904 | €7,794,241 | €4,799,843 | -€3.0m | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,794,241 | €4,799,843 | -€3.0m | -38.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.