ARQ: 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.
ARQ
Largest movements
- Current investments +€16,648
up €16,648 (+3.4%), from €488,466 to €505,115
- Other debts +€90,738
up €90,738 (+909%), from €9,979 to €100,717
- Reserves -€52,067
down €52,067 (-7.3%), from €710,737 to €658,671
- Tax, wage and social debts -€13,598
down €13,598 (-38.9%), from €34,921 to €21,323
- Financial income -€60,976
down €60,976 (-68.0%), from €89,692 to €28,716
- Financial charges -€12,336
down €12,336 (-99.6%), from €12,388 to €53
- Gross operating margin -€5,658
down €5,658 (-3.2%), from €174,392 to €168,734
- Taxes -€3,289
down €3,289 (-5.6%), from €58,706 to €55,417
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 | €776,483 | €801,864 | +€25,381 | +3.3% |
| Fixed assets | 21/28 | €6,832 | €6,497 | -€335 | -4.9% |
| Tangible fixed assets | 22/27 | €6,322 | €5,987 | -€335 | -5.3% |
| Plant, machinery and equipment | 23 | €2,578 | €1,967 | -€611 | -23.7% |
| Furniture and vehicles | 24 | €3,744 | €4,020 | +€276 | +7.4% |
| Financial fixed assets | 28 | €510 | €510 | = | 0.0% |
| Current assets | 29/58 | €769,651 | €795,367 | +€25,716 | +3.3% |
| Amounts receivable within one year | 40/41 | €25,128 | €29,683 | +€4,554 | +18.1% |
| Trade receivables | 40 | €25,116 | €29,526 | +€4,410 | +17.6% |
| Other amounts receivable | 41 | €12 | €157 | +€144 | +1,185% |
| Current investments | 50/53 | €488,466 | €505,115 | +€16,648 | +3.4% |
| Cash at bank and in hand | 54/58 | €255,501 | €260,043 | +€4,542 | +1.8% |
| Deferred charges and accrued income | 490/1 | €556 | €527 | -€29 | -5.1% |
| Total equity and liabilities | 10/49 | €776,483 | €801,864 | +€25,381 | +3.3% |
| Equity | 10/15 | €730,810 | €678,743 | -€52,067 | -7.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €710,737 | €658,671 | -€52,067 | -7.3% |
| Distributable reserves | 133 | €710,737 | €658,671 | -€52,067 | -7.3% |
| Profit (loss) carried forward | 14 | €73 | €73 | = | 0.0% |
| Amounts payable | 17/49 | €45,672 | €123,120 | +€77,448 | +170% |
| Amounts payable within one year | 42/48 | €45,672 | €123,120 | +€77,448 | +170% |
| Trade debts | 44 | €772 | €1,081 | +€309 | +40.0% |
| Suppliers | 440/4 | €772 | €1,081 | +€309 | +40.0% |
| Taxes, remuneration and social security | 45 | €34,921 | €21,323 | -€13,598 | -38.9% |
| Taxes | 450/3 | €34,921 | €21,323 | -€13,598 | -38.9% |
| Other amounts payable | 47/48 | €9,979 | €100,717 | +€90,738 | +909% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,590 | €2,789 | -€801 | -22.3% |
| Other operating charges | 640/8 | €298 | €1,096 | +€798 | +268% |
| Gross operating margin | 9900 | €174,392 | €168,734 | -€5,658 | -3.2% |
| Operating profit (loss) | 9901 | €170,505 | €164,849 | -€5,656 | -3.3% |
| Financial income | 75/76B | €89,692 | €28,716 | -€60,976 | -68.0% |
| Recurring financial income | 75 | €89,692 | €28,716 | -€60,976 | -68.0% |
| Financial charges | 65/66B | €12,388 | €53 | -€12,336 | -99.6% |
| Recurring financial charges | 65 | €12,388 | €53 | -€12,336 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | €247,808 | €193,513 | -€54,296 | -21.9% |
| Income taxes | 67/77 | €58,706 | €55,417 | -€3,289 | -5.6% |
| Profit (loss) for the period | 9904 | €189,103 | €138,096 | -€51,007 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €189,103 | €138,096 | -€51,007 | -27.0% |
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 13 October 2026 via checked.be.