ARCOM: 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.
ARCOM
Largest movements
- Receivables within one year -€33,798
down €33,798 (-12.1%), from €280,204 to €246,406
of which Trade receivables: -€18,149
- Cash +€15,162
up €15,162 (+28.2%), from €53,831 to €68,993
mainly Other debts (+€100,000) and Receivables within one year (+€33,798)
- Stocks and contracts -€5,024
down €5,024 (-39.0%), from €12,891 to €7,867
- Reserves -€161,528
down €161,528 (-60.0%), from €269,419 to €107,892
of which Distributable reserves: -€161,528
- Other debts +€100,000
new in 2025: €100,000
- Trade debts +€32,655
up €32,655 (+47.2%), from €69,168 to €101,823
- Tax, wage and social debts +€4,712
up €4,712 (+228%), from €2,065 to €6,776
of which Taxes: +€2,705
- Gross operating margin -€234,893
down €234,893 (-95.1%), from €247,086 to €12,192
- Taxes -€40,624
down €40,624 (-100%), from €40,624 to €0
- Depreciation -€7,276
down €7,276 (-74.4%), from €9,777 to €2,501
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 | €359,775 | €335,083 | -€24,692 | -6.9% |
| Fixed assets | 21/28 | €4,535 | €3,367 | -€1,168 | -25.8% |
| Tangible fixed assets | 22/27 | €4,535 | €3,367 | -€1,168 | -25.8% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €4,352 | €1,166 | -€3,186 | -73.2% |
| Furniture and vehicles | 24 | €183 | €2,201 | +€2,019 | +1,104% |
| Current assets | 29/58 | €355,240 | €331,716 | -€23,524 | -6.6% |
| Stocks and contracts in progress | 3 | €12,891 | €7,867 | -€5,024 | -39.0% |
| Stocks | 30/36 | €12,891 | €7,867 | -€5,024 | -39.0% |
| Amounts receivable within one year | 40/41 | €280,204 | €246,406 | -€33,798 | -12.1% |
| Trade receivables | 40 | €47,241 | €29,092 | -€18,149 | -38.4% |
| Other amounts receivable | 41 | €232,962 | €217,314 | -€15,648 | -6.7% |
| Cash at bank and in hand | 54/58 | €53,831 | €68,993 | +€15,162 | +28.2% |
| Deferred charges and accrued income | 490/1 | €8,315 | €8,450 | +€136 | +1.6% |
| Total equity and liabilities | 10/49 | €359,775 | €335,083 | -€24,692 | -6.9% |
| Equity | 10/15 | €288,011 | €126,484 | -€161,528 | -56.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €269,419 | €107,892 | -€161,528 | -60.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €96,383 | €96,383 | = | 0.0% |
| Distributable reserves | 133 | €171,177 | €9,649 | -€161,528 | -94.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €71,764 | €208,600 | +€136,836 | +191% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €71,764 | €208,600 | +€136,836 | +191% |
| Current portion of amounts payable after more than one year | 42 | €531 | €0 | -€531 | -100% |
| Trade debts | 44 | €69,168 | €101,823 | +€32,655 | +47.2% |
| Suppliers | 440/4 | €69,168 | €101,823 | +€32,655 | +47.2% |
| Taxes, remuneration and social security | 45 | €2,065 | €6,776 | +€4,712 | +228% |
| Taxes | 450/3 | €0 | €2,705 | +€2,705 | |
| Remuneration and social security | 454/9 | €2,065 | €4,071 | +€2,006 | +97.2% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €71,550 | €71,608 | +€58 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,777 | €2,501 | -€7,276 | -74.4% |
| Other operating charges | 640/8 | €1,927 | €2,123 | +€196 | +10.1% |
| Non-recurring operating charges | 66A | - | €33 | +€33 | |
| Gross operating margin | 9900 | €247,086 | €12,192 | -€234,893 | -95.1% |
| Operating profit (loss) | 9901 | €163,831 | -€64,073 | -€227,903 | |
| Financial income | 75/76B | €407 | €2,728 | +€2,321 | +570% |
| Recurring financial income | 75 | €407 | €2,728 | +€2,321 | +570% |
| Financial charges | 65/66B | €296 | €183 | -€112 | -38.0% |
| Recurring financial charges | 65 | €296 | €183 | -€112 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | €163,942 | -€61,528 | -€225,470 | |
| Income taxes | 67/77 | €40,624 | €0 | -€40,624 | -100% |
| Profit (loss) for the period | 9904 | €123,318 | -€61,528 | -€184,846 | |
| Transfer to tax-exempt reserves | 689 | €84,200 | €0 | -€84,200 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €39,118 | -€61,528 | -€100,646 |
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 22 October 2026 via checked.be.