ARCEP: 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.
ARCEP
Largest movements
- Cash +€13,058
up €13,058 (+78.8%), from €16,572 to €29,630
mainly Net result for the year (+€7,068) and Deferred charges and accrued income (+€2,088)
- Deferred charges and accrued income -€2,088
no longer reported in 2025 (was €2,088)
- Tangible fixed assets -€2,033
down €2,033 (-10.6%), from €19,158 to €17,125
- Receivables within one year -€732
down €732 (-11.0%), from €6,632 to €5,900
of which Trade receivables: -€732
- Profit (loss) carried forward +€7,068
up €7,068 (+32.2%), from -€21,955 to -€14,888
- Tax, wage and social debts +€1,986
up €1,986 (+204.5%), from €971 to €2,957
- Accrued charges and deferred income -€1,103
no longer reported in 2025 (was €1,103)
- Purchases and services -€9,250
no longer reported in 2025 (was €9,250)
- Gross operating margin +€3,188
up €3,188 (+38.3%), from €8,320 to €11,507
- Other operating charges -€1,055
down €1,055 (-38.1%), from €2,772 to €1,717
- Depreciation -€815
down €815 (-28.6%), from €2,848 to €2,033
- Taxes -€580
down €580 (-59.7%), from €971 to €391
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 | €44,451 | €52,656 | +€8,205 | +18.5% |
| Fixed assets | 21/28 | €19,158 | €17,125 | -€2,033 | -10.6% |
| Tangible fixed assets | 22/27 | €19,158 | €17,125 | -€2,033 | -10.6% |
| Land and buildings | 22 | €19,158 | €17,125 | -€2,033 | -10.6% |
| Current assets | 29/58 | €25,293 | €35,531 | +€10,238 | +40.5% |
| Amounts receivable within one year | 40/41 | €6,632 | €5,900 | -€732 | -11.0% |
| Trade receivables | 40 | €4,370 | €3,638 | -€732 | -16.7% |
| Other amounts receivable | 41 | €2,262 | €2,262 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,572 | €29,630 | +€13,058 | +78.8% |
| Deferred charges and accrued income | 490/1 | €2,088 | - | -€2,088 | |
| Total equity and liabilities | 10/49 | €44,451 | €52,656 | +€8,205 | +18.5% |
| Equity | 10/15 | €40,825 | €47,893 | +€7,068 | +17.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €781 | €781 | = | 0.0% |
| Non-distributable reserves | 130/1 | €781 | €781 | = | 0.0% |
| Legal reserve | 130 | €781 | €781 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,955 | -€14,888 | +€7,068 | +32.2% |
| Amounts payable | 17/49 | €3,626 | €4,763 | +€1,137 | +31.4% |
| Amounts payable within one year | 42/48 | €2,522 | €4,763 | +€2,241 | +88.8% |
| Trade debts | 44 | €1,551 | €1,806 | +€255 | +16.4% |
| Suppliers | 440/4 | €1,551 | €1,806 | +€255 | +16.4% |
| Taxes, remuneration and social security | 45 | €971 | €2,957 | +€1,986 | +204.5% |
| Taxes | 450/3 | €971 | €2,957 | +€1,986 | +204.5% |
| Accrued charges and deferred income | 492/3 | €1,103 | - | -€1,103 | |
| Goods, raw materials, services and sundry goods | 60/61 | €9,250 | - | -€9,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,848 | €2,033 | -€815 | -28.6% |
| Other operating charges | 640/8 | €2,772 | €1,717 | -€1,055 | -38.1% |
| Gross operating margin | 9900 | €8,320 | €11,507 | +€3,188 | +38.3% |
| Operating profit (loss) | 9901 | €2,700 | €7,757 | +€5,057 | +187.3% |
| Financial income | 75/76B | €16 | €47 | +€31 | +193.3% |
| Recurring financial income | 75 | €16 | €47 | +€31 | +193.3% |
| Financial charges | 65/66B | €262 | €345 | +€83 | +31.8% |
| Recurring financial charges | 65 | €262 | €345 | +€83 | +31.8% |
| Profit (loss) for the period before taxes | 9903 | €2,454 | €7,459 | +€5,005 | +203.9% |
| Income taxes | 67/77 | €971 | €391 | -€580 | -59.7% |
| Profit (loss) for the period | 9904 | €1,483 | €7,068 | +€5,585 | +376.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,483 | €7,068 | +€5,585 | +376.6% |
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 6 October 2026 via checked.be.