ARCAD: what changed
ARCAD
Largest movements
- Cash -€247,654
down €247,654 (-61.7%), from €401,431 to €153,777
mainly Other debts (-€240,036) and Contributions, distributions and other (-€80,000)
- Tangible fixed assets -€41,354
down €41,354 (-10.0%), from €413,213 to €371,859
of which Other tangible fixed assets: -€34,869
- Receivables after one year -€23,434
down €23,434 (-8.1%), from €289,170 to €265,736
- Other debts -€240,036
down €240,036 (-53.8%), from €446,067 to €206,032
- Tax, wage and social debts -€47,612
down €47,612 (-56.4%), from €84,397 to €36,786
- Reserves -€14,411
down €14,411 (-2.7%), from €540,926 to €526,515
of which Tax-exempt reserves: -€7,500
- Debts after one year -€11,667
down €11,667 (-30.8%), from €37,916 to €26,249
- Gross operating margin +€13,138
up €13,138 (+10.7%), from €122,621 to €135,759
- Financial income -€6,761
down €6,761 (-43.3%), from €15,604 to €8,843
- Financial charges -€3,367
down €3,367 (-31.1%), from €10,824 to €7,457
- Taxes +€1,442
up €1,442 (+4.4%), from €32,666 to €34,108
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,145,885 | €831,136 | -€314,749 | -27.5% |
| Fixed assets | 21/28 | €413,213 | €371,859 | -€41,354 | -10.0% |
| Tangible fixed assets | 22/27 | €413,213 | €371,859 | -€41,354 | -10.0% |
| Land and buildings | 22 | €105,695 | €99,210 | -€6,485 | -6.1% |
| Other tangible fixed assets | 26 | €307,518 | €272,649 | -€34,869 | -11.3% |
| Current assets | 29/58 | €732,672 | €459,277 | -€273,395 | -37.3% |
| Amounts receivable after more than one year | 29 | €289,170 | €265,736 | -€23,434 | -8.1% |
| Other amounts receivable | 291 | €289,170 | €265,736 | -€23,434 | -8.1% |
| Amounts receivable within one year | 40/41 | €42,071 | €39,764 | -€2,307 | -5.5% |
| Trade receivables | 40 | €7,684 | €7,684 | = | 0.0% |
| Other amounts receivable | 41 | €34,388 | €32,080 | -€2,307 | -6.7% |
| Cash at bank and in hand | 54/58 | €401,431 | €153,777 | -€247,654 | -61.7% |
| Total equity and liabilities | 10/49 | €1,145,885 | €831,136 | -€314,749 | -27.5% |
| Equity | 10/15 | €540,926 | €526,515 | -€14,411 | -2.7% |
| Reserves | 13 | €540,926 | €526,515 | -€14,411 | -2.7% |
| Tax-exempt reserves | 132 | €29,101 | €21,601 | -€7,500 | -25.8% |
| Distributable reserves | 133 | €511,825 | €504,914 | -€6,911 | -1.4% |
| Provisions and deferred taxes | 16 | €19,401 | €14,401 | -€5,000 | -25.8% |
| Deferred taxes | 168 | €19,401 | €14,401 | -€5,000 | -25.8% |
| Amounts payable | 17/49 | €585,559 | €290,221 | -€295,338 | -50.4% |
| Amounts payable after more than one year | 17 | €37,916 | €26,249 | -€11,667 | -30.8% |
| Financial debts | 170/4 | €37,916 | €26,249 | -€11,667 | -30.8% |
| Amounts payable within one year | 42/48 | €547,643 | €259,023 | -€288,619 | -52.7% |
| Current portion of amounts payable after more than one year | 42 | €11,667 | €11,667 | = | 0.0% |
| Trade debts | 44 | €5,511 | €4,539 | -€972 | -17.6% |
| Suppliers | 440/4 | €5,511 | €4,539 | -€972 | -17.6% |
| Taxes, remuneration and social security | 45 | €84,397 | €36,786 | -€47,612 | -56.4% |
| Taxes | 450/3 | €84,397 | €36,786 | -€47,612 | -56.4% |
| Other amounts payable | 47/48 | €446,067 | €206,032 | -€240,036 | -53.8% |
| Accrued charges and deferred income | 492/3 | - | €4,948 | +€4,948 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,354 | €41,354 | = | 0.0% |
| Other operating charges | 640/8 | €568 | €1,094 | +€526 | +92.6% |
| Gross operating margin | 9900 | €122,621 | €135,759 | +€13,138 | +10.7% |
| Operating profit (loss) | 9901 | €80,699 | €93,311 | +€12,612 | +15.6% |
| Financial income | 75/76B | €15,604 | €8,843 | -€6,761 | -43.3% |
| Recurring financial income | 75 | €15,604 | €8,843 | -€6,761 | -43.3% |
| Financial charges | 65/66B | €10,824 | €7,457 | -€3,367 | -31.1% |
| Recurring financial charges | 65 | €10,824 | €7,457 | -€3,367 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €85,478 | €94,697 | +€9,218 | +10.8% |
| Transfer from deferred taxes | 780 | €5,000 | €5,000 | = | 0.0% |
| Income taxes | 67/77 | €32,666 | €34,108 | +€1,442 | +4.4% |
| Profit (loss) for the period | 9904 | €57,812 | €65,589 | +€7,777 | +13.5% |
| Transfer from tax-exempt reserves | 789 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,312 | €73,089 | +€7,777 | +11.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.