E-DO ARCUM: 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.
E-DO ARCUM
Largest movements
- Receivables within one year -€277,286
down €277,286 (-76.4%), from €362,917 to €85,632
of which Other amounts receivable: -€274,305
- Cash +€216,475
up €216,475 (+114.9%), from €188,401 to €404,876
mainly Receivables within one year (+€277,286) and Depreciation (+€116,373)
- Tangible fixed assets -€108,602
down €108,602 (-13.6%), from €799,993 to €691,392
- Debts after one year -€123,149
down €123,149 (-23.5%), from €525,000 to €401,851
- Trade debts -€120,712
down €120,712 (-34.1%), from €353,809 to €233,097
- Profit (loss) carried forward +€38,713
no longer reported in 2025 (was -€38,713)
- Tax, wage and social debts +€27,032
up €27,032 (+42.3%), from €63,920 to €90,953
of which Remuneration and social security: +€20,593
- Gross operating margin +€255,371
up €255,371 (+43.8%), from €582,613 to €837,984
- Staff costs +€153,421
up €153,421 (+31.0%), from €494,786 to €648,207
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 | €1,388,532 | €1,226,029 | -€162,502 | -11.7% |
| Fixed assets | 21/28 | €800,192 | €691,590 | -€108,602 | -13.6% |
| Tangible fixed assets | 22/27 | €799,993 | €691,392 | -€108,602 | -13.6% |
| Plant, machinery and equipment | 23 | €799,993 | €691,392 | -€108,602 | -13.6% |
| Financial fixed assets | 28 | €198 | €198 | = | 0.0% |
| Current assets | 29/58 | €588,340 | €534,439 | -€53,901 | -9.2% |
| Stocks and contracts in progress | 3 | €24,078 | €19,630 | -€4,448 | -18.5% |
| Stocks | 30/36 | €24,078 | €19,630 | -€4,448 | -18.5% |
| Amounts receivable within one year | 40/41 | €362,917 | €85,632 | -€277,286 | -76.4% |
| Trade receivables | 40 | €15,644 | €12,663 | -€2,980 | -19.1% |
| Other amounts receivable | 41 | €347,274 | €72,968 | -€274,305 | -79.0% |
| Cash at bank and in hand | 54/58 | €188,401 | €404,876 | +€216,475 | +114.9% |
| Deferred charges and accrued income | 490/1 | €12,944 | €24,302 | +€11,358 | +87.7% |
| Total equity and liabilities | 10/49 | €1,388,532 | €1,226,029 | -€162,502 | -11.7% |
| Equity | 10/15 | €293,831 | €341,963 | +€48,131 | +16.4% |
| Contributions | 10/11 | €332,544 | €332,544 | = | 0.0% |
| Reserves | 13 | - | €9,419 | +€9,419 | |
| Distributable reserves | 133 | - | €9,419 | +€9,419 | |
| Profit (loss) carried forward | 14 | -€38,713 | - | +€38,713 | |
| Amounts payable | 17/49 | €1,094,700 | €884,067 | -€210,634 | -19.2% |
| Amounts payable after more than one year | 17 | €525,000 | €401,851 | -€123,149 | -23.5% |
| Financial debts | 170/4 | €525,000 | €401,851 | -€123,149 | -23.5% |
| Amounts payable within one year | 42/48 | €569,700 | €481,464 | -€88,237 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €150,000 | €156,549 | +€6,549 | +4.4% |
| Financial debts | 43 | - | €380 | +€380 | |
| Credit institutions | 430/8 | - | €380 | +€380 | |
| Trade debts | 44 | €353,809 | €233,097 | -€120,712 | -34.1% |
| Suppliers | 440/4 | €353,809 | €233,097 | -€120,712 | -34.1% |
| Taxes, remuneration and social security | 45 | €63,920 | €90,953 | +€27,032 | +42.3% |
| Taxes | 450/3 | €1,418 | €7,858 | +€6,440 | +454.0% |
| Remuneration and social security | 454/9 | €62,502 | €83,095 | +€20,593 | +32.9% |
| Other amounts payable | 47/48 | €1,970 | €485 | -€1,486 | -75.4% |
| Accrued charges and deferred income | 492/3 | - | €752 | +€752 | |
| Remuneration, social security and pensions | 62 | €494,786 | €648,207 | +€153,421 | +31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,749 | €116,373 | +€1,624 | +1.4% |
| Other operating charges | 640/8 | €8,063 | €7,138 | -€925 | -11.5% |
| Gross operating margin | 9900 | €582,613 | €837,984 | +€255,371 | +43.8% |
| Operating profit (loss) | 9901 | -€34,986 | €66,267 | +€101,252 | |
| Financial income | 75/76B | €820 | €0 | -€820 | -100.0% |
| Recurring financial income | 75 | €820 | €0 | -€820 | -100.0% |
| Financial charges | 65/66B | €15,139 | €12,518 | -€2,621 | -17.3% |
| Recurring financial charges | 65 | €15,139 | €12,518 | -€2,621 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | -€49,304 | €53,749 | +€103,053 | |
| Income taxes | 67/77 | - | €5,618 | +€5,618 | |
| Profit (loss) for the period | 9904 | -€49,304 | €48,131 | +€97,435 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,304 | €48,131 | +€97,435 |
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.