ARCOFAR: 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
ARCOFAR
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€235,224
2024 · €233,853+€1,371
Equity
€2.0m
2024 · €1.8m+€235,224
Cash
€663,004
2024 · €674,922-€11,918
Balance sheet total
€2.4m
2024 · €2.1m+€243,258
Largest movements
Assets
- Receivables within one year +€146,989
up €146,989 (+49.0%), from €300,034 to €447,024
of which Other amounts receivable: +€146,989
- Current investments +€110,000
up €110,000 (+27.5%), from €400,000 to €510,000
Equity and liabilities
- Reserves +€235,224
up €235,224 (+13.2%), from €1.8m to €2.0m
Income statement
- Financial charges -€12,461
down €12,461 (-38.1%), from €32,743 to €20,282
- Financial income -€10,179
down €10,179 (-5.9%), from €172,985 to €162,806
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
€233,853
Gross operating margin
+€758
Other operating charges
-€1,040
Financial income
-€10,179
Financial charges
+€12,461
Taxes
-€629
Result 2025
€235,224
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
+€78,229
Investment
-€110,000
Financing
+€19,852
Cash 2024
€674,922
From operations (derived)
+€78,229
Net result for the year
+€235,224
Depreciation
+€636
Receivables within one year
-€146,989
Deferred charges and accrued income
+€1,178
Smaller working-capital items
+€7
Other debts
+€641
Accrued charges and deferred income
-€12,467
Investment (derived)
-€110,000
Current investments
-€110,000
Financing
+€19,852
Debts after one year
+€19,852
Cash 2025
€663,004
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,117,866 | €2,361,124 | +€243,258 | +11.5% |
| Fixed assets | 21/28 | €740,031 | €739,395 | -€636 | -0.1% |
| Tangible fixed assets | 22/27 | €70,898 | €70,262 | -€636 | -0.9% |
| Land and buildings | 22 | €65,691 | €65,691 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,206 | €4,570 | -€636 | -12.2% |
| Financial fixed assets | 28 | €669,133 | €669,133 | = | 0.0% |
| Current assets | 29/58 | €1,377,835 | €1,621,729 | +€243,894 | +17.7% |
| Amounts receivable within one year | 40/41 | €300,034 | €447,024 | +€146,989 | +49.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €300,034 | €447,024 | +€146,989 | +49.0% |
| Current investments | 50/53 | €400,000 | €510,000 | +€110,000 | +27.5% |
| Cash at bank and in hand | 54/58 | €674,922 | €663,004 | -€11,918 | -1.8% |
| Deferred charges and accrued income | 490/1 | €2,879 | €1,702 | -€1,178 | -40.9% |
| Total equity and liabilities | 10/49 | €2,117,866 | €2,361,124 | +€243,258 | +11.5% |
| Equity | 10/15 | €1,807,609 | €2,042,833 | +€235,224 | +13.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,787,609 | €2,022,833 | +€235,224 | +13.2% |
| Distributable reserves | 133 | €1,787,609 | €2,022,833 | +€235,224 | +13.2% |
| Amounts payable | 17/49 | €310,257 | €318,291 | +€8,033 | +2.6% |
| Amounts payable after more than one year | 17 | €272,583 | €292,435 | +€19,852 | +7.3% |
| Other amounts payable | 178/9 | €272,583 | €292,435 | +€19,852 | +7.3% |
| Amounts payable within one year | 42/48 | €3,376 | €4,024 | +€648 | +19.2% |
| Trade debts | 44 | €145 | €135 | -€10 | -7.2% |
| Suppliers | 440/4 | €145 | €135 | -€10 | -7.2% |
| Taxes, remuneration and social security | 45 | €3,231 | €3,249 | +€18 | +0.5% |
| Taxes | 450/3 | €0 | €0 | -€0 | -100.0% |
| Remuneration and social security | 454/9 | €3,231 | €3,249 | +€18 | +0.6% |
| Other amounts payable | 47/48 | - | €641 | +€641 | |
| Accrued charges and deferred income | 492/3 | €34,298 | €21,831 | -€12,467 | -36.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €636 | €636 | = | 0.0% |
| Other operating charges | 640/8 | €1,344 | €2,383 | +€1,040 | +77.4% |
| Gross operating margin | 9900 | €148,322 | €149,081 | +€758 | +0.5% |
| Operating profit (loss) | 9901 | €146,343 | €146,061 | -€282 | -0.2% |
| Financial income | 75/76B | €172,985 | €162,806 | -€10,179 | -5.9% |
| Recurring financial income | 75 | €172,985 | €162,806 | -€10,179 | -5.9% |
| Financial charges | 65/66B | €32,743 | €20,282 | -€12,461 | -38.1% |
| Recurring financial charges | 65 | €32,743 | €20,282 | -€12,461 | -38.1% |
| Profit (loss) for the period before taxes | 9903 | €286,585 | €288,585 | +€2,000 | +0.7% |
| Income taxes | 67/77 | €52,732 | €53,361 | +€629 | +1.2% |
| Profit (loss) for the period | 9904 | €233,853 | €235,224 | +€1,371 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €233,853 | €235,224 | +€1,371 | +0.6% |
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 7 October 2026 via checked.be.