F-Do Arcum: what changed
Two fiscal 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.
F-Do Arcum
Largest movements
- Tangible fixed assets -€101,075
down €101,075 (-14.2%), from €710,326 to €609,251
of which Plant, machinery and equipment: -€97,035
- Receivables within one year -€91,546
down €91,546 (-36.0%), from €254,397 to €162,850
of which Other amounts receivable: -€116,540
- Cash +€83,691
up €83,691 (+58.1%), from €144,035 to €227,726
mainly Depreciation (+€120,812) and Receivables within one year (+€91,546)
- Debts after one year -€116,720
down €116,720 (-32.5%), from €358,928 to €242,208
- Trade debts -€36,599
down €36,599 (-23.7%), from €154,202 to €117,603
- Reserves +€31,037
up €31,037 (+40.3%), from €76,954 to €107,991
- Gross operating margin +€213,480
up €213,480 (+29.7%), from €719,327 to €932,807
- Staff costs +€151,453
up €151,453 (+25.0%), from €605,937 to €757,390
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 | €1,147,385 | €1,034,568 | -€112,817 | -9.8% |
| Fixed assets | 21/28 | €710,920 | €609,845 | -€101,075 | -14.2% |
| Tangible fixed assets | 22/27 | €710,326 | €609,251 | -€101,075 | -14.2% |
| Plant, machinery and equipment | 23 | €700,197 | €603,162 | -€97,035 | -13.9% |
| Furniture and vehicles | 24 | €10,128 | €6,089 | -€4,040 | -39.9% |
| Financial fixed assets | 28 | €595 | €595 | = | 0.0% |
| Current assets | 29/58 | €436,465 | €424,723 | -€11,742 | -2.7% |
| Stocks and contracts in progress | 3 | €21,774 | €16,333 | -€5,440 | -25.0% |
| Stocks | 30/36 | €21,774 | €16,333 | -€5,440 | -25.0% |
| Amounts receivable within one year | 40/41 | €254,397 | €162,850 | -€91,546 | -36.0% |
| Trade receivables | 40 | €8,579 | €33,573 | +€24,994 | +291.3% |
| Other amounts receivable | 41 | €245,817 | €129,277 | -€116,540 | -47.4% |
| Cash at bank and in hand | 54/58 | €144,035 | €227,726 | +€83,691 | +58.1% |
| Deferred charges and accrued income | 490/1 | €16,259 | €17,814 | +€1,554 | +9.6% |
| Total equity and liabilities | 10/49 | €1,147,385 | €1,034,568 | -€112,817 | -9.8% |
| Equity | 10/15 | €411,954 | €442,991 | +€31,037 | +7.5% |
| Contributions | 10/11 | €335,000 | €335,000 | = | 0.0% |
| Reserves | 13 | €76,954 | €107,991 | +€31,037 | +40.3% |
| Distributable reserves | 133 | €76,954 | €107,991 | +€31,037 | +40.3% |
| Amounts payable | 17/49 | €735,431 | €591,578 | -€143,854 | -19.6% |
| Amounts payable after more than one year | 17 | €358,928 | €242,208 | -€116,720 | -32.5% |
| Financial debts | 170/4 | €358,928 | €242,208 | -€116,720 | -32.5% |
| Amounts payable within one year | 42/48 | €376,503 | €348,008 | -€28,495 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €143,571 | €150,121 | +€6,549 | +4.6% |
| Financial debts | 43 | - | €258 | +€258 | |
| Credit institutions | 430/8 | - | €258 | +€258 | |
| Trade debts | 44 | €154,202 | €117,603 | -€36,599 | -23.7% |
| Suppliers | 440/4 | €154,202 | €117,603 | -€36,599 | -23.7% |
| Taxes, remuneration and social security | 45 | €78,631 | €79,912 | +€1,281 | +1.6% |
| Taxes | 450/3 | €2,435 | €2,345 | -€90 | -3.7% |
| Remuneration and social security | 454/9 | €76,197 | €77,567 | +€1,371 | +1.8% |
| Other amounts payable | 47/48 | €99 | €115 | +€16 | +16.6% |
| Accrued charges and deferred income | 492/3 | - | €1,361 | +€1,361 | |
| Remuneration, social security and pensions | 62 | €605,937 | €757,390 | +€151,453 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,390 | €120,812 | +€2,422 | +2.0% |
| Other operating charges | 640/8 | €13,586 | €9,737 | -€3,849 | -28.3% |
| Gross operating margin | 9900 | €719,327 | €932,807 | +€213,480 | +29.7% |
| Operating profit (loss) | 9901 | -€18,585 | €44,868 | +€63,453 | |
| Financial income | 75/76B | €665 | €74 | -€591 | -88.8% |
| Recurring financial income | 75 | €665 | €74 | -€591 | -88.8% |
| Financial charges | 65/66B | €16,024 | €13,812 | -€2,212 | -13.8% |
| Recurring financial charges | 65 | €16,024 | €13,812 | -€2,212 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | -€33,944 | €31,131 | +€65,075 | |
| Income taxes | 67/77 | €160 | €94 | -€66 | -41.2% |
| Profit (loss) for the period | 9904 | -€34,104 | €31,037 | +€65,141 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,104 | €31,037 | +€65,141 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.