ARCTURUS GROUP: 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.
ARCTURUS GROUP
Largest movements
- Cash +€340,018
up €340,018 (+108.8%), from €312,457 to €652,475
mainly Trade debts (+€262,677) and Net result for the year (+€151,901)
- Receivables within one year +€159,812
up €159,812 (+74.3%), from €215,229 to €375,041
of which Trade receivables: +€136,314
- Intangible fixed assets -€74,795
down €74,795 (-100.0%), from €74,795 to €0
- Trade debts +€262,677
up €262,677 (+260.6%), from €100,804 to €363,480
- Profit (loss) carried forward +€148,123
up €148,123 (+44.9%), from €329,703 to €477,826
- Accrued charges and deferred income +€16,126
up €16,126 (+1612.6%), from €1,000 to €17,126
- Staff costs -€49,159
down €49,159 (-14.6%), from €337,594 to €288,435
- Gross operating margin -€25,265
down €25,265 (-4.2%), from €598,310 to €573,045
- Taxes +€6,874
up €6,874 (+14.6%), from €46,985 to €53,859
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 | €656,772 | €1,079,189 | +€422,417 | +64.3% |
| Fixed assets | 21/28 | €120,704 | €44,160 | -€76,543 | -63.4% |
| Intangible fixed assets | 21 | €74,795 | €0 | -€74,795 | -100.0% |
| Tangible fixed assets | 22/27 | €5,343 | €3,594 | -€1,749 | -32.7% |
| Furniture and vehicles | 24 | €5,343 | €3,594 | -€1,749 | -32.7% |
| Financial fixed assets | 28 | €40,567 | €40,567 | = | 0.0% |
| Current assets | 29/58 | €536,068 | €1,035,029 | +€498,961 | +93.1% |
| Amounts receivable within one year | 40/41 | €215,229 | €375,041 | +€159,812 | +74.3% |
| Trade receivables | 40 | €192,586 | €328,900 | +€136,314 | +70.8% |
| Other amounts receivable | 41 | €22,644 | €46,141 | +€23,497 | +103.8% |
| Cash at bank and in hand | 54/58 | €312,457 | €652,475 | +€340,018 | +108.8% |
| Deferred charges and accrued income | 490/1 | €8,382 | €7,513 | -€869 | -10.4% |
| Total equity and liabilities | 10/49 | €656,772 | €1,079,189 | +€422,417 | +64.3% |
| Equity | 10/15 | €507,480 | €659,381 | +€151,901 | +29.9% |
| Contributions | 10/11 | €165,050 | €165,050 | = | 0.0% |
| Capital | 10 | €165,050 | €165,050 | = | 0.0% |
| Issued capital | 100 | €165,050 | €165,050 | = | 0.0% |
| Reserves | 13 | €12,727 | €16,505 | +€3,778 | +29.7% |
| Non-distributable reserves | 130/1 | €12,727 | €16,505 | +€3,778 | +29.7% |
| Legal reserve | 130 | €12,727 | €16,505 | +€3,778 | +29.7% |
| Profit (loss) carried forward | 14 | €329,703 | €477,826 | +€148,123 | +44.9% |
| Amounts payable | 17/49 | €149,292 | €419,809 | +€270,517 | +181.2% |
| Amounts payable within one year | 42/48 | €148,292 | €402,683 | +€254,391 | +171.5% |
| Current portion of amounts payable after more than one year | 42 | €5,689 | €0 | -€5,689 | -100.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €100,804 | €363,480 | +€262,677 | +260.6% |
| Suppliers | 440/4 | €100,804 | €363,480 | +€262,677 | +260.6% |
| Taxes, remuneration and social security | 45 | €41,799 | €39,203 | -€2,597 | -6.2% |
| Taxes | 450/3 | €18,093 | €16,810 | -€1,283 | -7.1% |
| Remuneration and social security | 454/9 | €23,706 | €22,393 | -€1,314 | -5.5% |
| Accrued charges and deferred income | 492/3 | €1,000 | €17,126 | +€16,126 | +1612.6% |
| Remuneration, social security and pensions | 62 | €337,594 | €288,435 | -€49,159 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,224 | €76,543 | -€681 | -0.9% |
| Other operating charges | 640/8 | €6,108 | €400 | -€5,708 | -93.5% |
| Gross operating margin | 9900 | €598,310 | €573,045 | -€25,265 | -4.2% |
| Operating profit (loss) | 9901 | €177,384 | €207,668 | +€30,284 | +17.1% |
| Financial income | 75/76B | €115 | €8 | -€107 | -93.3% |
| Recurring financial income | 75 | €115 | €8 | -€107 | -93.3% |
| Financial charges | 65/66B | €5,964 | €1,916 | -€4,048 | -67.9% |
| Recurring financial charges | 65 | €5,964 | €1,916 | -€4,048 | -67.9% |
| Profit (loss) for the period before taxes | 9903 | €171,534 | €205,759 | +€34,225 | +20.0% |
| Income taxes | 67/77 | €46,985 | €53,859 | +€6,874 | +14.6% |
| Profit (loss) for the period | 9904 | €124,550 | €151,901 | +€27,351 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €124,550 | €151,901 | +€27,351 | +22.0% |
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 6 October 2026 via checked.be.