ARSENAAL 3PK: what changed
What changed
ARSENAAL 3PK
filed annual accounts (NBB)
Net result for the year
€25,682
2024 · €63,620-€37,938
Equity
€23.5m
2024 · €21.7m+€1.8m
Cash
€31,942
2024 · €119,699-€87,757
Balance sheet total
€76.4m
2024 · €74.4m+€2.0m
Largest movements
Assets
- Stocks and contracts +€1.9m
up €1.9m (+2.6%), from €74.2m to €76.1m
Equity and liabilities
- Other debts +€2.1m
up €2.1m (+6.4%), from €32.9m to €35.0m
- Debts after one year -€2.0m
down €2.0m (-10.4%), from €19.3m to €17.3m
- Contributions +€1.8m
up €1.8m (+8.2%), from €21.7m to €23.5m
Income statement
- Gross operating margin -€33,997
down €33,997 (-48.8%), from €69,662 to €35,665
- Financial income -€5,281
no longer reported in 2025 (was €5,281)
- Other operating charges -€1,509
down €1,509 (-13.7%), from €11,011 to €9,502
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€63,620
Gross operating margin
-€33,997
Other operating charges
+€1,509
Financial income
-€5,281
Financial charges
-€110
Taxes
-€59
Result 2025
€25,682
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€127,188
Investment
€0
Financing
-€214,945
Cash 2024
€119,699
From operations (derived)
+€127,188
Net result for the year
+€25,682
Stocks and contracts
-€1.9m
Receivables within one year
-€173,696
Smaller working-capital items
+€277
Trade debts
+€94,148
Advances received
+€7,539
Other debts
+€2.1m
Financing
-€214,945
Debts after one year
-€2.0m
Contributions, distributions and other
+€1.8m
Cash 2025
€31,942
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €74,392,512 | €76,400,658 | +€2.0m | +2.7% |
| Current assets | 29/58 | €74,392,512 | €76,400,658 | +€2.0m | +2.7% |
| Stocks and contracts in progress | 3 | €74,175,571 | €76,097,333 | +€1.9m | +2.6% |
| Stocks | 30/36 | €74,175,571 | €76,097,333 | +€1.9m | +2.6% |
| Amounts receivable within one year | 40/41 | €29,100 | €202,796 | +€173,696 | +597% |
| Trade receivables | 40 | €29,100 | €202,796 | +€173,696 | +597% |
| Cash at bank and in hand | 54/58 | €119,699 | €31,942 | -€87,757 | -73.3% |
| Deferred charges and accrued income | 490/1 | €68,142 | €68,587 | +€445 | +0.7% |
| Total equity and liabilities | 10/49 | €74,392,512 | €76,400,658 | +€2.0m | +2.7% |
| Equity | 10/15 | €21,689,417 | €23,500,099 | +€1.8m | +8.3% |
| Contributions | 10/11 | €21,715,000 | €23,500,000 | +€1.8m | +8.2% |
| Capital | 10 | €21,715,000 | €23,500,000 | +€1.8m | +8.2% |
| Issued capital | 100 | €22,500,000 | €26,500,000 | +€4.0m | +17.8% |
| Uncalled capital | 101 | €785,000 | €3,000,000 | +€2.2m | +282% |
| Profit (loss) carried forward | 14 | -€25,583 | €99 | +€25,682 | |
| Amounts payable | 17/49 | €52,703,095 | €52,900,559 | +€197,464 | +0.4% |
| Amounts payable after more than one year | 17 | €19,300,795 | €17,300,850 | -€2.0m | -10.4% |
| Financial debts | 170/4 | €19,300,795 | €17,300,850 | -€2.0m | -10.4% |
| Amounts payable within one year | 42/48 | €33,402,235 | €35,599,067 | +€2.2m | +6.6% |
| Trade debts | 44 | €126 | €94,274 | +€94,148 | +74,721% |
| Suppliers | 440/4 | €126 | €94,274 | +€94,148 | +74,721% |
| Advances received on contracts in progress | 46 | €497,109 | €504,648 | +€7,539 | +1.5% |
| Taxes, remuneration and social security | 45 | - | €145 | +€145 | |
| Taxes | 450/3 | - | €145 | +€145 | |
| Other amounts payable | 47/48 | €32,905,000 | €35,000,000 | +€2.1m | +6.4% |
| Accrued charges and deferred income | 492/3 | €65 | €642 | +€577 | +888% |
| Other operating charges | 640/8 | €11,011 | €9,502 | -€1,509 | -13.7% |
| Gross operating margin | 9900 | €69,662 | €35,665 | -€33,997 | -48.8% |
| Operating profit (loss) | 9901 | €58,651 | €26,163 | -€32,488 | -55.4% |
| Financial income | 75/76B | €5,281 | - | -€5,281 | |
| Recurring financial income | 75 | €5,281 | - | -€5,281 | |
| Financial charges | 65/66B | - | €110 | +€110 | |
| Recurring financial charges | 65 | - | €110 | +€110 | |
| Profit (loss) for the period before taxes | 9903 | €63,932 | €26,053 | -€37,879 | -59.2% |
| Income taxes | 67/77 | €312 | €371 | +€59 | +18.9% |
| Profit (loss) for the period | 9904 | €63,620 | €25,682 | -€37,938 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,620 | €25,682 | -€37,938 | -59.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.