ARPEC: 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.
ARPEC
Largest movements
- Receivables within one year -€15,902
down €15,902 (-10.4%), from €152,842 to €136,941
of which Other amounts receivable: -€17,726
- Cash -€14,294
down €14,294 (-87.3%), from €16,371 to €2,078
mainly Trade debts (-€26,549) and Other debts (-€12,854)
- Tangible fixed assets -€6,601
down €6,601 (-21.5%), from €30,710 to €24,108
of which Furniture and vehicles: -€10,595
- Stocks and contracts -€3,730
no longer reported in 2025 (was €3,730)
- Trade debts -€26,549
down €26,549 (-53.6%), from €49,509 to €22,959
- Other debts -€12,854
down €12,854 (-10.0%), from €128,856 to €116,002
- Gross operating margin -€5,717
down €5,717 (-13.0%), from €43,849 to €38,132
- Depreciation +€4,273
up €4,273 (+63.2%), from €6,762 to €11,035
- Other operating charges -€1,467
down €1,467 (-61.9%), from €2,368 to €901
- Staff costs -€600
down €600 (-2.2%), from €27,054 to €26,455
- Financial charges +€554
up €554 (+306%), from €181 to €735
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 | €203,653 | €163,126 | -€40,527 | -19.9% |
| Fixed assets | 21/28 | €30,710 | €24,108 | -€6,601 | -21.5% |
| Tangible fixed assets | 22/27 | €30,710 | €24,108 | -€6,601 | -21.5% |
| Plant, machinery and equipment | 23 | €441 | €4,434 | +€3,993 | +906% |
| Furniture and vehicles | 24 | €30,269 | €19,674 | -€10,595 | -35.0% |
| Current assets | 29/58 | €172,944 | €139,018 | -€33,925 | -19.6% |
| Stocks and contracts in progress | 3 | €3,730 | - | -€3,730 | |
| Stocks | 30/36 | €3,730 | - | -€3,730 | |
| Amounts receivable within one year | 40/41 | €152,842 | €136,941 | -€15,902 | -10.4% |
| Trade receivables | 40 | €105,432 | €107,256 | +€1,824 | +1.7% |
| Other amounts receivable | 41 | €47,410 | €29,685 | -€17,726 | -37.4% |
| Cash at bank and in hand | 54/58 | €16,371 | €2,078 | -€14,294 | -87.3% |
| Total equity and liabilities | 10/49 | €203,653 | €163,126 | -€40,527 | -19.9% |
| Equity | 10/15 | €21,399 | €20,291 | -€1,108 | -5.2% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,601 | -€51,709 | -€1,108 | -2.2% |
| Amounts payable | 17/49 | €182,254 | €142,836 | -€39,419 | -21.6% |
| Amounts payable within one year | 42/48 | €182,254 | €142,836 | -€39,419 | -21.6% |
| Trade debts | 44 | €49,509 | €22,959 | -€26,549 | -53.6% |
| Suppliers | 440/4 | €49,509 | €22,959 | -€26,549 | -53.6% |
| Taxes, remuneration and social security | 45 | €3,890 | €3,874 | -€16 | -0.4% |
| Taxes | 450/3 | €16 | - | -€16 | |
| Remuneration and social security | 454/9 | €3,874 | €3,874 | = | 0.0% |
| Other amounts payable | 47/48 | €128,856 | €116,002 | -€12,854 | -10.0% |
| Remuneration, social security and pensions | 62 | €27,054 | €26,455 | -€600 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,762 | €11,035 | +€4,273 | +63.2% |
| Other operating charges | 640/8 | €2,368 | €901 | -€1,467 | -61.9% |
| Gross operating margin | 9900 | €43,849 | €38,132 | -€5,717 | -13.0% |
| Operating profit (loss) | 9901 | €7,664 | -€259 | -€7,923 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -55.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -55.6% |
| Financial charges | 65/66B | €181 | €735 | +€554 | +306% |
| Recurring financial charges | 65 | €181 | €735 | +€554 | +306% |
| Profit (loss) for the period before taxes | 9903 | €7,483 | -€994 | -€8,478 | |
| Income taxes | 67/77 | - | €114 | +€114 | |
| Profit (loss) for the period | 9904 | €7,483 | -€1,108 | -€8,591 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,483 | -€1,108 | -€8,591 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.