ARK METAL: 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.
ARK METAL
Largest movements
- Receivables within one year +€126,420
up €126,420 (+50.4%), from €250,919 to €377,339
of which Trade receivables: +€126,385
- Cash -€86,626
down €86,626 (-39.5%), from €219,370 to €132,744
mainly Receivables within one year (-€126,420) and Debts after one year (-€61,129)
- Stocks and contracts +€50,883
up €50,883 (+24.5%), from €207,405 to €258,288
- Tangible fixed assets -€13,299
down €13,299 (-10.6%), from €125,633 to €112,335
- Trade debts +€110,115
up €110,115 (+46.4%), from €237,261 to €347,375
- Debts after one year -€61,129
down €61,129 (-48.6%), from €125,746 to €64,617
- Tax, wage and social debts +€18,473
up €18,473 (+113%), from €16,391 to €34,864
- Reserves +€10,912
up €10,912 (+3.7%), from €297,589 to €308,501
of which Distributable reserves: +€10,912
- Gross operating margin +€5,120
up €5,120 (+11.3%), from €45,381 to €50,501
- Other operating charges +€3,381
up €3,381 (+27.8%), from €12,142 to €15,523
- Depreciation +€2,797
up €2,797 (+17.1%), from €16,398 to €19,195
- Write-downs -€2,452
down €2,452 (-4,953%), from -€50 to -€2,501
- Financial charges -€1,032
down €1,032 (-12.2%), from €8,465 to €7,433
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 | €819,047 | €900,870 | +€81,823 | +10.0% |
| Fixed assets | 21/28 | €136,744 | €122,100 | -€14,645 | -10.7% |
| Intangible fixed assets | 21 | €11,111 | €9,765 | -€1,346 | -12.1% |
| Tangible fixed assets | 22/27 | €125,633 | €112,335 | -€13,299 | -10.6% |
| Land and buildings | 22 | €89,354 | €86,717 | -€2,637 | -3.0% |
| Plant, machinery and equipment | 23 | €989 | €1,333 | +€344 | +34.8% |
| Furniture and vehicles | 24 | €8,474 | €3,878 | -€4,596 | -54.2% |
| Leasing and similar rights | 25 | €26,817 | €20,407 | -€6,410 | -23.9% |
| Current assets | 29/58 | €682,303 | €778,770 | +€96,468 | +14.1% |
| Stocks and contracts in progress | 3 | €207,405 | €258,288 | +€50,883 | +24.5% |
| Stocks | 30/36 | €207,405 | €258,288 | +€50,883 | +24.5% |
| Amounts receivable within one year | 40/41 | €250,919 | €377,339 | +€126,420 | +50.4% |
| Trade receivables | 40 | €245,419 | €371,804 | +€126,385 | +51.5% |
| Other amounts receivable | 41 | €5,500 | €5,535 | +€35 | +0.6% |
| Cash at bank and in hand | 54/58 | €219,370 | €132,744 | -€86,626 | -39.5% |
| Deferred charges and accrued income | 490/1 | €4,610 | €10,400 | +€5,790 | +126% |
| Total equity and liabilities | 10/49 | €819,047 | €900,870 | +€81,823 | +10.0% |
| Equity | 10/15 | €337,281 | €347,889 | +€10,608 | +3.1% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €297,589 | €308,501 | +€10,912 | +3.7% |
| Tax-exempt reserves | 132 | €837 | €837 | = | 0.0% |
| Distributable reserves | 133 | €296,752 | €307,664 | +€10,912 | +3.7% |
| Investment grants | 15 | €1,692 | €1,388 | -€304 | -18.0% |
| Amounts payable | 17/49 | €481,766 | €552,981 | +€71,215 | +14.8% |
| Amounts payable after more than one year | 17 | €125,746 | €64,617 | -€61,129 | -48.6% |
| Financial debts | 170/4 | €125,746 | €64,617 | -€61,129 | -48.6% |
| Amounts payable within one year | 42/48 | €356,007 | €488,346 | +€132,339 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €60,130 | €62,812 | +€2,682 | +4.5% |
| Trade debts | 44 | €237,261 | €347,375 | +€110,115 | +46.4% |
| Suppliers | 440/4 | €237,261 | €347,375 | +€110,115 | +46.4% |
| Taxes, remuneration and social security | 45 | €16,391 | €34,864 | +€18,473 | +113% |
| Taxes | 450/3 | €16,391 | €34,864 | +€18,473 | +113% |
| Other amounts payable | 47/48 | €42,225 | €43,295 | +€1,070 | +2.5% |
| Accrued charges and deferred income | 492/3 | €13 | €17 | +€4 | +32.8% |
| Non-recurring operating income | 76A | €4,959 | €912 | -€4,046 | -81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,398 | €19,195 | +€2,797 | +17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€50 | -€2,501 | -€2,452 | -4,953% |
| Other operating charges | 640/8 | €12,142 | €15,523 | +€3,381 | +27.8% |
| Non-recurring operating charges | 66A | - | €16 | +€16 | |
| Gross operating margin | 9900 | €45,381 | €50,501 | +€5,120 | +11.3% |
| Operating profit (loss) | 9901 | €16,892 | €18,269 | +€1,378 | +8.2% |
| Financial income | 75/76B | €6,669 | €5,895 | -€773 | -11.6% |
| Recurring financial income | 75 | €6,669 | €5,895 | -€773 | -11.6% |
| Financial charges | 65/66B | €8,465 | €7,433 | -€1,032 | -12.2% |
| Recurring financial charges | 65 | €8,465 | €7,433 | -€1,032 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €15,095 | €16,732 | +€1,637 | +10.8% |
| Income taxes | 67/77 | €4,960 | €5,819 | +€859 | +17.3% |
| Profit (loss) for the period | 9904 | €10,135 | €10,912 | +€778 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,135 | €10,912 | +€778 | +7.7% |
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 19 October 2026 via checked.be.