ARCOFI: 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.
ARCOFI
Largest movements
- Current investments -€100,000
down €100,000 (-100.0%), from €100,001 to €1
- Receivables within one year +€92,768
up €92,768 (+44.7%), from €207,511 to €300,279
of which Other amounts receivable: +€90,000
- Cash +€66,954
up €66,954 (+186.1%), from €35,973 to €102,927
mainly Net result for the year (+€142,031) and Current investments (+€100,000)
- Tangible fixed assets +€37,349
up €37,349 (+109.4%), from €34,139 to €71,488
of which Furniture and vehicles: +€38,182
- Other debts +€50,542
up €50,542 (+39.6%), from €127,572 to €178,114
- Debts after one year +€36,210
up €36,210 (+174.9%), from €20,708 to €56,918
- Tax, wage and social debts +€18,835
up €18,835 (+86.1%), from €21,866 to €40,701
- Current portion of long-term debt +€15,170
new in 2025: €15,170
- Reserves -€12,000
down €12,000 (-10.1%), from €118,860 to €106,860
- Financial charges -€38,205
down €38,205 (-96.1%), from €39,739 to €1,534
of which Non-recurring financial charges: -€32,858
- Gross operating margin +€32,145
up €32,145 (+18.9%), from €170,064 to €202,208
- Taxes +€15,367
up €15,367 (+44.1%), from €34,879 to €50,246
- Financial income -€8,204
down €8,204 (-72.2%), from €11,361 to €3,157
- Depreciation +€7,300
up €7,300 (+224.4%), from €3,253 to €10,553
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 | €379,397 | €478,011 | +€98,614 | +26.0% |
| Fixed assets | 21/28 | €34,139 | €71,488 | +€37,349 | +109.4% |
| Tangible fixed assets | 22/27 | €34,139 | €71,488 | +€37,349 | +109.4% |
| Plant, machinery and equipment | 23 | €2,237 | €1,404 | -€833 | -37.2% |
| Furniture and vehicles | 24 | €31,901 | €70,083 | +€38,182 | +119.7% |
| Current assets | 29/58 | €345,259 | €406,523 | +€61,265 | +17.7% |
| Amounts receivable within one year | 40/41 | €207,511 | €300,279 | +€92,768 | +44.7% |
| Trade receivables | 40 | €6,536 | €9,304 | +€2,768 | +42.3% |
| Other amounts receivable | 41 | €200,975 | €290,975 | +€90,000 | +44.8% |
| Current investments | 50/53 | €100,001 | €1 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €35,973 | €102,927 | +€66,954 | +186.1% |
| Deferred charges and accrued income | 490/1 | €1,773 | €3,316 | +€1,543 | +87.0% |
| Total equity and liabilities | 10/49 | €379,397 | €478,011 | +€98,614 | +26.0% |
| Equity | 10/15 | €199,040 | €187,071 | -€11,969 | -6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,860 | €106,860 | -€12,000 | -10.1% |
| Distributable reserves | 133 | €118,860 | €106,860 | -€12,000 | -10.1% |
| Profit (loss) carried forward | 14 | €61,580 | €61,611 | +€31 | 0.0% |
| Amounts payable | 17/49 | €180,357 | €290,940 | +€110,583 | +61.3% |
| Amounts payable after more than one year | 17 | €20,708 | €56,918 | +€36,210 | +174.9% |
| Financial debts | 170/4 | €20,708 | €56,918 | +€36,210 | +174.9% |
| Amounts payable within one year | 42/48 | €159,485 | €234,022 | +€74,537 | +46.7% |
| Current portion of amounts payable after more than one year | 42 | - | €15,170 | +€15,170 | |
| Financial debts | 43 | €5,056 | - | -€5,056 | |
| Credit institutions | 430/8 | €5,056 | - | -€5,056 | |
| Trade debts | 44 | €4,991 | €37 | -€4,954 | -99.3% |
| Suppliers | 440/4 | €4,991 | €37 | -€4,954 | -99.3% |
| Taxes, remuneration and social security | 45 | €21,866 | €40,701 | +€18,835 | +86.1% |
| Taxes | 450/3 | €21,866 | €40,701 | +€18,835 | +86.1% |
| Other amounts payable | 47/48 | €127,572 | €178,114 | +€50,542 | +39.6% |
| Accrued charges and deferred income | 492/3 | €164 | - | -€164 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,253 | €10,553 | +€7,300 | +224.4% |
| Other operating charges | 640/8 | €1,141 | €1,002 | -€139 | -12.2% |
| Gross operating margin | 9900 | €170,064 | €202,208 | +€32,145 | +18.9% |
| Operating profit (loss) | 9901 | €165,670 | €190,654 | +€24,983 | +15.1% |
| Financial income | 75/76B | €11,361 | €3,157 | -€8,204 | -72.2% |
| Recurring financial income | 75 | €11,361 | €3,157 | -€8,204 | -72.2% |
| Financial charges | 65/66B | €39,739 | €1,534 | -€38,205 | -96.1% |
| Recurring financial charges | 65 | €6,881 | €1,534 | -€5,347 | -77.7% |
| Non-recurring financial charges | 66B | €32,858 | - | -€32,858 | |
| Profit (loss) for the period before taxes | 9903 | €137,293 | €192,277 | +€54,985 | +40.0% |
| Income taxes | 67/77 | €34,879 | €50,246 | +€15,367 | +44.1% |
| Profit (loss) for the period | 9904 | €102,414 | €142,031 | +€39,617 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €102,414 | €142,031 | +€39,617 | +38.7% |
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.