ARPACA: 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.
ARPACA
Largest movements
- Cash -€510,656
down €510,656 (-65.5%), from €779,813 to €269,157
mainly Other debts (-€290,586) and Trade debts (-€288,732)
- Receivables within one year -€106,454
down €106,454 (-17.5%), from €608,475 to €502,021
of which Other amounts receivable: -€54,643
- Tangible fixed assets -€44,450
down €44,450 (-14.0%), from €317,279 to €272,830
of which Land and buildings: -€35,463
- Stocks and contracts +€36,660
up €36,660 (+3.6%), from €1.0m to €1.1m
- Other debts -€290,586
down €290,586 (-27.8%), from €1.0m to €756,500
- Trade debts -€288,732
down €288,732 (-59.6%), from €484,525 to €195,793
- Reserves -€45,000
down €45,000 (-25.1%), from €179,000 to €134,000
of which Distributable reserves: -€45,000
- Gross operating margin -€51,105
down €51,105 (-8.3%), from €615,382 to €564,277
- Financial charges -€31,899
down €31,899 (-29.3%), from €108,788 to €76,890
- Other operating charges +€13,310
up €13,310 (+129.2%), from €10,304 to €23,614
- Staff costs +€9,633
up €9,633 (+2.4%), from €398,237 to €407,870
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 | €2,737,282 | €2,106,472 | -€630,810 | -23.0% |
| Fixed assets | 21/28 | €317,279 | €272,830 | -€44,450 | -14.0% |
| Tangible fixed assets | 22/27 | €317,279 | €272,830 | -€44,450 | -14.0% |
| Land and buildings | 22 | €287,219 | €251,756 | -€35,463 | -12.3% |
| Plant, machinery and equipment | 23 | €4,528 | €2,938 | -€1,591 | -35.1% |
| Furniture and vehicles | 24 | €25,532 | €18,136 | -€7,396 | -29.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,420,003 | €1,833,642 | -€586,360 | -24.2% |
| Stocks and contracts in progress | 3 | €1,022,634 | €1,059,295 | +€36,660 | +3.6% |
| Stocks | 30/36 | €1,022,634 | €1,059,295 | +€36,660 | +3.6% |
| Amounts receivable within one year | 40/41 | €608,475 | €502,021 | -€106,454 | -17.5% |
| Trade receivables | 40 | €535,372 | €483,562 | -€51,810 | -9.7% |
| Other amounts receivable | 41 | €73,102 | €18,459 | -€54,643 | -74.7% |
| Cash at bank and in hand | 54/58 | €779,813 | €269,157 | -€510,656 | -65.5% |
| Deferred charges and accrued income | 490/1 | €9,081 | €3,170 | -€5,911 | -65.1% |
| Total equity and liabilities | 10/49 | €2,737,282 | €2,106,472 | -€630,810 | -23.0% |
| Equity | 10/15 | €1,053,660 | €1,028,470 | -€25,190 | -2.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €179,000 | €134,000 | -€45,000 | -25.1% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €149,000 | €104,000 | -€45,000 | -30.2% |
| Profit (loss) carried forward | 14 | €568,340 | €590,440 | +€22,100 | +3.9% |
| Investment grants | 15 | €6,320 | €4,030 | -€2,290 | -36.2% |
| Provisions and deferred taxes | 16 | €92 | €0 | -€92 | -100.0% |
| Deferred taxes | 168 | €92 | €0 | -€92 | -100.0% |
| Amounts payable | 17/49 | €1,683,530 | €1,078,001 | -€605,529 | -36.0% |
| Amounts payable after more than one year | 17 | €62,551 | €43,619 | -€18,932 | -30.3% |
| Financial debts | 170/4 | €62,551 | €43,619 | -€18,932 | -30.3% |
| Amounts payable within one year | 42/48 | €1,620,980 | €1,034,382 | -€586,597 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €21,509 | €18,932 | -€2,578 | -12.0% |
| Trade debts | 44 | €484,525 | €195,793 | -€288,732 | -59.6% |
| Suppliers | 440/4 | €484,525 | €195,793 | -€288,732 | -59.6% |
| Taxes, remuneration and social security | 45 | €67,860 | €63,158 | -€4,702 | -6.9% |
| Taxes | 450/3 | €29,672 | €18,901 | -€10,771 | -36.3% |
| Remuneration and social security | 454/9 | €38,188 | €44,257 | +€6,069 | +15.9% |
| Other amounts payable | 47/48 | €1,047,086 | €756,500 | -€290,586 | -27.8% |
| Remuneration, social security and pensions | 62 | €398,237 | €407,870 | +€9,633 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,983 | €50,597 | -€386 | -0.8% |
| Other operating charges | 640/8 | €10,304 | €23,614 | +€13,310 | +129.2% |
| Gross operating margin | 9900 | €615,382 | €564,277 | -€51,105 | -8.3% |
| Operating profit (loss) | 9901 | €155,857 | €82,195 | -€73,662 | -47.3% |
| Financial income | 75/76B | €38,660 | €42,823 | +€4,162 | +10.8% |
| Recurring financial income | 75 | €38,660 | €42,823 | +€4,162 | +10.8% |
| Financial charges | 65/66B | €108,788 | €76,890 | -€31,899 | -29.3% |
| Recurring financial charges | 65 | €108,788 | €76,890 | -€31,899 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €85,729 | €48,128 | -€37,601 | -43.9% |
| Transfer from deferred taxes | 780 | €92 | €92 | +€0 | 0.0% |
| Income taxes | 67/77 | €20,000 | €26,120 | +€6,120 | +30.6% |
| Profit (loss) for the period | 9904 | €65,820 | €22,100 | -€43,720 | -66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,820 | €22,100 | -€43,720 | -66.4% |
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 11 October 2026 via checked.be.