ARCTOS: 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.
ARCTOS
Largest movements
- Current investments -€103,000
down €103,000 (-55.7%), from €185,000 to €82,000
- Cash +€30,610
up €30,610 (+20.2%), from €151,708 to €182,318
mainly Current investments (+€103,000) and Receivables within one year (+€28,335)
- Receivables within one year -€28,335
down €28,335 (-26.0%), from €108,881 to €80,546
of which Trade receivables: -€16,722
- Stocks and contracts -€20,637
down €20,637 (-18.2%), from €113,628 to €92,990
- Trade debts -€66,488
down €66,488 (-87.5%), from €76,006 to €9,518
- Debts after one year -€40,188
down €40,188 (-38.8%), from €103,674 to €63,487
- Profit (loss) carried forward -€30,061
down €30,061 (-305%), from -€9,866 to -€39,927
- Current portion of long-term debt +€20,420
up €20,420, from €0 to €20,420
- Gross operating margin -€3,978
down €3,978 (-34.1%), from -€11,679 to -€15,657
- Depreciation +€3,195
up €3,195 (+15.3%), from €20,907 to €24,101
- Financial income +€1,669
up €1,669 (+12.5%), from €13,342 to €15,011
- Staff costs +€902
new in 2025: €902
- Financial charges -€599
down €599 (-15.4%), from €3,879 to €3,280
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 | €983,816 | €865,710 | -€118,105 | -12.0% |
| Fixed assets | 21/28 | €146,872 | €143,008 | -€3,864 | -2.6% |
| Tangible fixed assets | 22/27 | €131,715 | €127,851 | -€3,864 | -2.9% |
| Land and buildings | 22 | €2,556 | €1,320 | -€1,236 | -48.3% |
| Plant, machinery and equipment | 23 | €14,216 | €26,424 | +€12,209 | +85.9% |
| Furniture and vehicles | 24 | €114,944 | €100,106 | -€14,837 | -12.9% |
| Financial fixed assets | 28 | €15,157 | €15,157 | = | 0.0% |
| Current assets | 29/58 | €836,944 | €722,703 | -€114,241 | -13.6% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €113,628 | €92,990 | -€20,637 | -18.2% |
| Stocks | 30/36 | €113,628 | €92,990 | -€20,637 | -18.2% |
| Amounts receivable within one year | 40/41 | €108,881 | €80,546 | -€28,335 | -26.0% |
| Trade receivables | 40 | €37,099 | €20,377 | -€16,722 | -45.1% |
| Other amounts receivable | 41 | €71,782 | €60,170 | -€11,613 | -16.2% |
| Current investments | 50/53 | €185,000 | €82,000 | -€103,000 | -55.7% |
| Cash at bank and in hand | 54/58 | €151,708 | €182,318 | +€30,610 | +20.2% |
| Deferred charges and accrued income | 490/1 | €77,728 | €84,849 | +€7,121 | +9.2% |
| Total equity and liabilities | 10/49 | €983,816 | €865,710 | -€118,105 | -12.0% |
| Equity | 10/15 | €796,261 | €766,200 | -€30,061 | -3.8% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €682,127 | €682,127 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,020 | €0 | -€13,020 | -100% |
| Reserves not available under the articles | 1311 | €13,020 | €0 | -€13,020 | -100% |
| Distributable reserves | 133 | €669,107 | €682,127 | +€13,020 | +1.9% |
| Profit (loss) carried forward | 14 | -€9,866 | -€39,927 | -€30,061 | -305% |
| Amounts payable | 17/49 | €187,555 | €99,510 | -€88,045 | -46.9% |
| Amounts payable after more than one year | 17 | €103,674 | €63,487 | -€40,188 | -38.8% |
| Financial debts | 170/4 | €103,674 | €63,487 | -€40,188 | -38.8% |
| Amounts payable within one year | 42/48 | €83,881 | €36,023 | -€47,857 | -57.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €20,420 | +€20,420 | |
| Trade debts | 44 | €76,006 | €9,518 | -€66,488 | -87.5% |
| Suppliers | 440/4 | €76,006 | €9,518 | -€66,488 | -87.5% |
| Advances received on contracts in progress | 46 | - | €429 | +€429 | |
| Taxes, remuneration and social security | 45 | €699 | €2,357 | +€1,657 | +237% |
| Taxes | 450/3 | €699 | €2,357 | +€1,657 | +237% |
| Other amounts payable | 47/48 | €7,175 | €3,299 | -€3,875 | -54.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €902 | +€902 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,907 | €24,101 | +€3,195 | +15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,556 | €1,130 | -€425 | -27.3% |
| Gross operating margin | 9900 | -€11,679 | -€15,657 | -€3,978 | -34.1% |
| Operating profit (loss) | 9901 | -€34,142 | -€41,791 | -€7,650 | -22.4% |
| Financial income | 75/76B | €13,342 | €15,011 | +€1,669 | +12.5% |
| Recurring financial income | 75 | €13,342 | €15,011 | +€1,669 | +12.5% |
| Financial charges | 65/66B | €3,879 | €3,280 | -€599 | -15.4% |
| Recurring financial charges | 65 | €3,879 | €3,280 | -€599 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,679 | -€30,061 | -€5,382 | -21.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€24,679 | -€30,061 | -€5,382 | -21.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,679 | -€30,061 | -€5,382 | -21.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.