ARCO: 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.
What changed
ARCO
NACE 43.990, Other specialised construction activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€344,244
2024 · €534,058-€878,303
Equity
€12.4m
2024 · €12.8m-€344,244
Cash
€1.2m
2024 · €2.4m-€1.1m
Balance sheet total
€25.3m
2024 · €30.0m-€4.7m
Largest movements
Assets
- Financial fixed assets -€2.0m
down €2.0m (-18.2%), from €11.0m to €9.0m
of which Affiliated companies: -€2.0m
- Stocks and contracts -€1.6m
down €1.6m (-18.6%), from €8.7m to €7.1m
of which Contracts in progress: -€1.6m
- Cash -€1.1m
down €1.1m (-47.6%), from €2.4m to €1.2m
mainly Current portion of long-term debt (-€2.5m) and Debts after one year (-€1.2m)
- Receivables within one year +€442,387
up €442,387 (+7.6%), from €5.8m to €6.2m
of which Trade receivables: +€498,612
Equity and liabilities
- Current portion of long-term debt -€2.5m
down €2.5m (-70.4%), from €3.5m to €1.0m
- Debts after one year -€1.2m
down €1.2m (-20.4%), from €6.0m to €4.8m
- Trade debts -€789,629
down €789,629 (-23.6%), from €3.4m to €2.6m
- Reserves -€344,244
down €344,244 (-2.7%), from €12.7m to €12.4m
of which Distributable reserves: -€344,244
- Other debts +€304,370
up €304,370 (+2381.5%), from €12,780 to €317,150
Income statement
- Goods and materials -€10.1m
down €10.1m (-43.5%), from €23.2m to €13.1m
of which Purchases: -€10.2m
- Turnover -€9.7m
down €9.7m (-25.2%), from €38.6m to €28.9m
- Services and other goods -€1.6m
down €1.6m (-30.0%), from €5.2m to €3.6m
- Staff costs +€774,581
up €774,581 (+8.7%), from €8.9m to €9.7m
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.
Result 2024
€534,058
Turnover
-€9.7m
Other operating income
+€17,981
Goods and materials
+€10.1m
Services and other goods
+€1.6m
Staff costs
-€774,581
Depreciation
-€123,695
Write-downs
-€109,547
Other operating charges
+€11,951
Other operating items
-€1.7m
Financial income
-€133,759
Financial charges
-€331,598
Taxes
+€252,049
Result 2025
-€344,244
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.
From operations
+€940,319
Investment
+€1.6m
Financing
-€3.7m
Cash 2024
€2.4m
From operations (derived)
+€940,319
Net result for the year
-€344,244
Depreciation
+€752,307
Stocks and contracts
+€1.6m
Receivables within one year
-€442,387
Deferred charges and accrued income
-€15,209
Trade debts
-€789,629
Tax, wage and social debts
+€25,036
Advances received
-€101,195
Other debts
+€304,370
Accrued charges and deferred income
-€64,188
Investment (derived)
+€1.6m
Investment in fixed assets (net)
+€1.6m
Financing
-€3.7m
Debts after one year
-€1.2m
Current portion of long-term debt
-€2.5m
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,956,781 | €25,287,052 | -€4.7m | -15.6% |
| Fixed assets | 21/28 | €13,067,044 | €10,681,065 | -€2.4m | -18.3% |
| Intangible fixed assets | 21 | €269,014 | €120,000 | -€149,014 | -55.4% |
| Tangible fixed assets | 22/27 | €1,820,579 | €1,583,613 | -€236,965 | -13.0% |
| Land and buildings | 22 | €9,106 | €6,692 | -€2,414 | -26.5% |
| Plant, machinery and equipment | 23 | €96,766 | €63,879 | -€32,887 | -34.0% |
| Furniture and vehicles | 24 | €755,349 | €489,942 | -€265,407 | -35.1% |
| Leasing and similar rights | 25 | €726,020 | €803,021 | +€77,001 | +10.6% |
| Other tangible fixed assets | 26 | €233,338 | €220,080 | -€13,258 | -5.7% |
| Financial fixed assets | 28 | €10,977,452 | €8,977,452 | -€2.0m | -18.2% |
| Affiliated companies | 280/1 | €10,977,132 | €8,977,132 | -€2.0m | -18.2% |
| Participating interests | 280 | €10,977,132 | €8,977,132 | -€2.0m | -18.2% |
| Other financial fixed assets | 284/8 | €320 | €320 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €16,889,737 | €14,605,987 | -€2.3m | -13.5% |
| Stocks and contracts in progress | 3 | €8,679,972 | €7,064,512 | -€1.6m | -18.6% |
| Stocks | 30/36 | €3,629,843 | €3,572,430 | -€57,413 | -1.6% |
| Goods purchased for resale | 34 | €3,629,843 | €3,572,430 | -€57,413 | -1.6% |
| Contracts in progress | 37 | €5,050,129 | €3,492,082 | -€1.6m | -30.9% |
| Amounts receivable within one year | 40/41 | €5,804,351 | €6,246,739 | +€442,387 | +7.6% |
| Trade receivables | 40 | €5,094,742 | €5,593,353 | +€498,612 | +9.8% |
| Other amounts receivable | 41 | €709,610 | €653,385 | -€56,224 | -7.9% |
| Cash at bank and in hand | 54/58 | €2,367,123 | €1,241,236 | -€1.1m | -47.6% |
| Deferred charges and accrued income | 490/1 | €38,290 | €53,500 | +€15,209 | +39.7% |
| Total equity and liabilities | 10/49 | €29,956,781 | €25,287,052 | -€4.7m | -15.6% |
| Equity | 10/15 | €12,766,288 | €12,422,044 | -€344,244 | -2.7% |
| 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 | €12,704,288 | €12,360,044 | -€344,244 | -2.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €12,698,088 | €12,353,844 | -€344,244 | -2.7% |
| Amounts payable | 17/49 | €17,190,493 | €12,865,009 | -€4.3m | -25.2% |
| Amounts payable after more than one year | 17 | €6,014,616 | €4,789,419 | -€1.2m | -20.4% |
| Financial debts | 170/4 | €6,014,616 | €4,789,419 | -€1.2m | -20.4% |
| Subordinated loans | 170 | €1,000,000 | €1,035,000 | +€35,000 | +3.5% |
| Leasing and similar obligations | 172 | €513,297 | €471,885 | -€41,412 | -8.1% |
| Credit institutions | 173 | €4,501,319 | €3,282,534 | -€1.2m | -27.1% |
| Amounts payable within one year | 42/48 | €10,687,563 | €7,651,465 | -€3.0m | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €3,517,044 | €1,042,363 | -€2.5m | -70.4% |
| Financial debts | 43 | €1,000,000 | €1,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,000,000 | €1,000,000 | = | 0.0% |
| Trade debts | 44 | €3,350,192 | €2,560,562 | -€789,629 | -23.6% |
| Suppliers | 440/4 | €3,350,192 | €2,560,562 | -€789,629 | -23.6% |
| Advances received on contracts in progress | 46 | €1,619,962 | €1,518,767 | -€101,195 | -6.2% |
| Taxes, remuneration and social security | 45 | €1,187,585 | €1,212,621 | +€25,036 | +2.1% |
| Taxes | 450/3 | €76,005 | €86,359 | +€10,354 | +13.6% |
| Remuneration and social security | 454/9 | €1,111,580 | €1,126,262 | +€14,682 | +1.3% |
| Other amounts payable | 47/48 | €12,780 | €317,150 | +€304,370 | +2381.5% |
| Accrued charges and deferred income | 492/3 | €488,313 | €424,125 | -€64,188 | -13.1% |
| Operating income | 70/76A | €38,843,713 | €27,497,896 | -€11.3m | -29.2% |
| Turnover | 70 | €38,616,240 | €28,901,327 | -€9.7m | -25.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €60,250 | -€1,558,047 | -€1.6m | |
| Other operating income | 74 | €125,434 | €143,415 | +€17,981 | +14.3% |
| Non-recurring operating income | 76A | €41,789 | €11,200 | -€30,589 | -73.2% |
| Operating charges | 60/66A | €38,054,282 | €27,373,460 | -€10.7m | -28.1% |
| Goods for resale, raw materials and consumables | 60 | €23,249,772 | €13,125,505 | -€10.1m | -43.5% |
| Purchases | 600/8 | €23,273,486 | €13,101,700 | -€10.2m | -43.7% |
| Change in stocks: decrease (increase) | 609 | -€23,714 | €23,805 | +€47,519 | |
| Services and other goods | 61 | €5,198,598 | €3,639,795 | -€1.6m | -30.0% |
| Remuneration, social security and pensions | 62 | €8,885,253 | €9,659,835 | +€774,581 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €628,612 | €752,307 | +€123,695 | +19.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,531 | €103,016 | +€109,547 | |
| Other operating charges | 640/8 | €98,578 | €86,627 | -€11,951 | -12.1% |
| Non-recurring operating charges | 66A | €0 | €6,377 | +€6,377 | |
| Operating profit (loss) | 9901 | €789,430 | €124,435 | -€664,995 | -84.2% |
| Financial income | 75/76B | €154,788 | €21,029 | -€133,759 | -86.4% |
| Recurring financial income | 75 | €154,788 | €21,029 | -€133,759 | -86.4% |
| Income from financial fixed assets | 750 | €16,160 | €4,248 | -€11,912 | -73.7% |
| Income from current assets | 751 | €122,436 | €5,433 | -€117,003 | -95.6% |
| Other financial income | 752/9 | €16,192 | €11,348 | -€4,845 | -29.9% |
| Financial charges | 65/66B | €158,111 | €489,708 | +€331,598 | +209.7% |
| Recurring financial charges | 65 | €158,111 | €489,708 | +€331,598 | +209.7% |
| Debt charges | 650 | €158,111 | €489,708 | +€331,598 | +209.7% |
| Profit (loss) for the period before taxes | 9903 | €786,108 | -€344,244 | -€1.1m | |
| Income taxes | 67/77 | €252,049 | €0 | -€252,049 | -100.0% |
| Taxes | 670/3 | €252,049 | €0 | -€252,049 | -100.0% |
| Profit (loss) for the period | 9904 | €534,058 | -€344,244 | -€878,303 | |
| Profit (loss) for the period to be appropriated | 9905 | €534,058 | -€344,244 | -€878,303 |
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 30 September 2026 via checked.be.