Arco: 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.
Arco
Largest movements
- Cash -€113,421
down €113,421 (-51.5%), from €220,090 to €106,669
mainly Investment in fixed assets (net) (-€113,633) and Trade debts (-€46,285)
- Tangible fixed assets +€78,574
up €78,574 (+52.8%), from €148,889 to €227,463
of which Furniture and vehicles: +€91,260
- Trade debts -€46,285
down €46,285 (-43.0%), from €107,566 to €61,281
- Reserves +€33,392
up €33,392 (+80.9%), from €41,301 to €74,693
of which Distributable reserves: +€33,392
- Debts after one year -€18,634
down €18,634 (-35.3%), from €52,823 to €34,189
- Gross operating margin +€25,822
up €25,822 (+28.3%), from €91,289 to €117,111
- Depreciation +€16,847
up €16,847 (+92.5%), from €18,212 to €35,059
- Taxes +€4,655
up €4,655 (+53.5%), from €8,695 to €13,350
- Staff costs +€1,329
up €1,329 (+4.7%), from €28,199 to €29,528
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 | €389,374 | €354,590 | -€34,784 | -8.9% |
| Fixed assets | 21/28 | €148,972 | €227,546 | +€78,574 | +52.7% |
| Tangible fixed assets | 22/27 | €148,889 | €227,463 | +€78,574 | +52.8% |
| Land and buildings | 22 | €131,040 | €120,960 | -€10,080 | -7.7% |
| Plant, machinery and equipment | 23 | €14,139 | €11,533 | -€2,606 | -18.4% |
| Furniture and vehicles | 24 | €3,709 | €94,969 | +€91,260 | +2,460% |
| Financial fixed assets | 28 | €84 | €84 | = | 0.0% |
| Current assets | 29/58 | €240,402 | €127,044 | -€113,358 | -47.2% |
| Stocks and contracts in progress | 3 | €8,855 | €9,364 | +€509 | +5.7% |
| Stocks | 30/36 | €8,855 | €9,364 | +€509 | +5.7% |
| Amounts receivable within one year | 40/41 | €11,458 | €11,011 | -€446 | -3.9% |
| Trade receivables | 40 | €11,458 | €6,944 | -€4,513 | -39.4% |
| Other amounts receivable | 41 | - | €4,067 | +€4,067 | |
| Cash at bank and in hand | 54/58 | €220,090 | €106,669 | -€113,421 | -51.5% |
| Total equity and liabilities | 10/49 | €389,374 | €354,590 | -€34,784 | -8.9% |
| Equity | 10/15 | €188,801 | €222,193 | +€33,392 | +17.7% |
| Contributions | 10/11 | €147,500 | €147,500 | = | 0.0% |
| Capital | 10 | €147,500 | €147,500 | = | 0.0% |
| Issued capital | 100 | €147,500 | €147,500 | = | 0.0% |
| Reserves | 13 | €41,301 | €74,693 | +€33,392 | +80.9% |
| Non-distributable reserves | 130/1 | €14,750 | €14,750 | = | 0.0% |
| Legal reserve | 130 | €14,750 | €14,750 | = | 0.0% |
| Distributable reserves | 133 | €26,551 | €59,943 | +€33,392 | +126% |
| Amounts payable | 17/49 | €200,573 | €132,397 | -€68,176 | -34.0% |
| Amounts payable after more than one year | 17 | €52,823 | €34,189 | -€18,634 | -35.3% |
| Financial debts | 170/4 | €52,823 | €34,189 | -€18,634 | -35.3% |
| Amounts payable within one year | 42/48 | €147,750 | €98,208 | -€49,542 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €18,006 | €18,634 | +€629 | +3.5% |
| Trade debts | 44 | €107,566 | €61,281 | -€46,285 | -43.0% |
| Suppliers | 440/4 | €107,566 | €61,281 | -€46,285 | -43.0% |
| Taxes, remuneration and social security | 45 | €22,179 | €18,293 | -€3,886 | -17.5% |
| Taxes | 450/3 | €13,981 | €9,918 | -€4,063 | -29.1% |
| Remuneration and social security | 454/9 | €8,198 | €8,374 | +€177 | +2.2% |
| Remuneration, social security and pensions | 62 | €28,199 | €29,528 | +€1,329 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,212 | €35,059 | +€16,847 | +92.5% |
| Other operating charges | 640/8 | €4,126 | €3,468 | -€658 | -16.0% |
| Gross operating margin | 9900 | €91,289 | €117,111 | +€25,822 | +28.3% |
| Operating profit (loss) | 9901 | €40,751 | €49,056 | +€8,304 | +20.4% |
| Financial income | 75/76B | €16 | €17 | +€2 | +12.8% |
| Recurring financial income | 75 | €16 | €17 | +€2 | +12.8% |
| Financial charges | 65/66B | €2,963 | €2,331 | -€632 | -21.3% |
| Recurring financial charges | 65 | €2,963 | €2,331 | -€632 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €37,804 | €46,742 | +€8,938 | +23.6% |
| Income taxes | 67/77 | €8,695 | €13,350 | +€4,655 | +53.5% |
| Profit (loss) for the period | 9904 | €29,109 | €33,392 | +€4,283 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,109 | €33,392 | +€4,283 | +14.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.