ARENCO: 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.
ARENCO
Largest movements
- Cash +€197,074
up €197,074 (+59.8%), from €329,466 to €526,540
mainly Depreciation (+€169,825) and Receivables within one year (+€91,465)
- Tangible fixed assets -€106,010
down €106,010 (-2.7%), from €4.0m to €3.9m
of which Land and buildings: -€88,219
- Receivables within one year -€91,465
down €91,465 (-40.5%), from €225,975 to €134,510
of which Trade receivables: -€92,069
- Debts after one year -€130,000
down €130,000 (-16.2%), from €801,666 to €671,666
- Reserves +€64,338
up €64,338 (+3.2%), from €2.0m to €2.1m
- Gross operating margin +€100,147
up €100,147 (+32.2%), from €310,685 to €410,832
- Taxes +€44,283
up €44,283 (+126%), from €35,113 to €79,396
- Financial charges +€7,729
up €7,729 (+10.1%), from €76,461 to €84,190
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 | €4,554,185 | €4,549,798 | -€4,387 | -0.1% |
| Fixed assets | 21/28 | €3,962,909 | €3,856,899 | -€106,010 | -2.7% |
| Tangible fixed assets | 22/27 | €3,962,909 | €3,856,899 | -€106,010 | -2.7% |
| Land and buildings | 22 | €3,684,369 | €3,596,151 | -€88,219 | -2.4% |
| Plant, machinery and equipment | 23 | €9,038 | €9,324 | +€286 | +3.2% |
| Furniture and vehicles | 24 | €269,503 | €251,425 | -€18,077 | -6.7% |
| Current assets | 29/58 | €591,276 | €692,898 | +€101,622 | +17.2% |
| Amounts receivable within one year | 40/41 | €225,975 | €134,510 | -€91,465 | -40.5% |
| Trade receivables | 40 | €176,086 | €84,017 | -€92,069 | -52.3% |
| Other amounts receivable | 41 | €49,889 | €50,493 | +€604 | +1.2% |
| Cash at bank and in hand | 54/58 | €329,466 | €526,540 | +€197,074 | +59.8% |
| Deferred charges and accrued income | 490/1 | €35,835 | €31,848 | -€3,987 | -11.1% |
| Total equity and liabilities | 10/49 | €4,554,185 | €4,549,798 | -€4,387 | -0.1% |
| Equity | 10/15 | €2,040,306 | €2,104,644 | +€64,338 | +3.2% |
| Contributions | 10/11 | €9,676 | €9,676 | = | 0.0% |
| Reserves | 13 | €2,011,079 | €2,075,417 | +€64,338 | +3.2% |
| Distributable reserves | 133 | €2,011,079 | €2,075,417 | +€64,338 | +3.2% |
| Profit (loss) carried forward | 14 | €19,551 | €19,551 | = | 0.0% |
| Amounts payable | 17/49 | €2,513,880 | €2,445,154 | -€68,726 | -2.7% |
| Amounts payable after more than one year | 17 | €801,666 | €671,666 | -€130,000 | -16.2% |
| Financial debts | 170/4 | €801,666 | €671,666 | -€130,000 | -16.2% |
| Amounts payable within one year | 42/48 | €1,646,543 | €1,698,797 | +€52,254 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €130,000 | €130,000 | = | 0.0% |
| Trade debts | 44 | €52,970 | €53,860 | +€890 | +1.7% |
| Suppliers | 440/4 | €52,970 | €53,860 | +€890 | +1.7% |
| Taxes, remuneration and social security | 45 | €24,406 | €49,738 | +€25,332 | +104% |
| Taxes | 450/3 | €24,406 | €49,738 | +€25,332 | +104% |
| Other amounts payable | 47/48 | €1,439,166 | €1,465,199 | +€26,032 | +1.8% |
| Accrued charges and deferred income | 492/3 | €65,671 | €74,691 | +€9,020 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,227 | €169,825 | +€2,598 | +1.6% |
| Other operating charges | 640/8 | €9,939 | €13,084 | +€3,144 | +31.6% |
| Gross operating margin | 9900 | €310,685 | €410,832 | +€100,147 | +32.2% |
| Operating profit (loss) | 9901 | €133,519 | €227,923 | +€94,404 | +70.7% |
| Financial income | 75/76B | €4 | €2 | -€3 | -62.3% |
| Recurring financial income | 75 | €4 | €2 | -€3 | -62.3% |
| Financial charges | 65/66B | €76,461 | €84,190 | +€7,729 | +10.1% |
| Recurring financial charges | 65 | €76,461 | €84,190 | +€7,729 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €57,062 | €143,734 | +€86,672 | +152% |
| Income taxes | 67/77 | €35,113 | €79,396 | +€44,283 | +126% |
| Profit (loss) for the period | 9904 | €21,950 | €64,338 | +€42,389 | +193% |
| Profit (loss) for the period to be appropriated | 9905 | €21,950 | €64,338 | +€42,389 | +193% |
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 20 October 2026 via checked.be.