AARGUS: 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.
AARGUS
Largest movements
- Cash -€421,031
down €421,031 (-99.3%), from €423,833 to €2,802
mainly Current investments (-€308,733) and Net result for the year (-€52,540)
- Current investments +€308,733
up €308,733 (+123%), from €250,551 to €559,284
- Receivables within one year +€31,995
up €31,995 (+19.9%), from €160,779 to €192,774
of which Other amounts receivable: +€26,552
- Stocks and contracts +€29,901
new in 2025: €29,901
- Tangible fixed assets -€11,835
down €11,835 (-45.5%), from €26,036 to €14,201
of which Leasing and similar rights: -€11,554
- Profit (loss) carried forward -€52,540
down €52,540 (-16.2%), from €323,523 to €270,983
- Financial income -€10,139
down €10,139 (-38.8%), from €26,100 to €15,961
- Depreciation -€6,047
down €6,047 (-33.8%), from €17,882 to €11,835
- Gross operating margin -€4,376
down €4,376 (-9.2%), from -€47,498 to -€51,874
- Other operating charges +€579
up €579 (+19.1%), from €3,030 to €3,610
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 | €866,136 | €805,004 | -€61,132 | -7.1% |
| Fixed assets | 21/28 | €26,116 | €14,281 | -€11,835 | -45.3% |
| Tangible fixed assets | 22/27 | €26,036 | €14,201 | -€11,835 | -45.5% |
| Furniture and vehicles | 24 | €745 | €464 | -€281 | -37.8% |
| Leasing and similar rights | 25 | €25,292 | €13,738 | -€11,554 | -45.7% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €840,019 | €790,722 | -€49,297 | -5.9% |
| Stocks and contracts in progress | 3 | - | €29,901 | +€29,901 | |
| Contracts in progress | 37 | - | €29,901 | +€29,901 | |
| Amounts receivable within one year | 40/41 | €160,779 | €192,774 | +€31,995 | +19.9% |
| Trade receivables | 40 | - | €5,443 | +€5,443 | |
| Other amounts receivable | 41 | €160,779 | €187,331 | +€26,552 | +16.5% |
| Current investments | 50/53 | €250,551 | €559,284 | +€308,733 | +123% |
| Cash at bank and in hand | 54/58 | €423,833 | €2,802 | -€421,031 | -99.3% |
| Deferred charges and accrued income | 490/1 | €4,856 | €5,962 | +€1,105 | +22.8% |
| Total equity and liabilities | 10/49 | €866,136 | €805,004 | -€61,132 | -7.1% |
| Equity | 10/15 | €845,229 | €792,689 | -€52,540 | -6.2% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €271,706 | €271,706 | = | 0.0% |
| Distributable reserves | 133 | €271,706 | €271,706 | = | 0.0% |
| Profit (loss) carried forward | 14 | €323,523 | €270,983 | -€52,540 | -16.2% |
| Amounts payable | 17/49 | €20,907 | €12,315 | -€8,592 | -41.1% |
| Amounts payable after more than one year | 17 | €4,656 | €0 | -€4,656 | -100% |
| Financial debts | 170/4 | €4,656 | €0 | -€4,656 | -100% |
| Amounts payable within one year | 42/48 | €16,157 | €11,850 | -€4,307 | -26.7% |
| Current portion of amounts payable after more than one year | 42 | €10,366 | €4,796 | -€5,570 | -53.7% |
| Trade debts | 44 | €314 | €2,435 | +€2,121 | +676% |
| Suppliers | 440/4 | €314 | €2,435 | +€2,121 | +676% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,478 | €4,619 | -€859 | -15.7% |
| Accrued charges and deferred income | 492/3 | €94 | €465 | +€371 | +396% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,882 | €11,835 | -€6,047 | -33.8% |
| Other operating charges | 640/8 | €3,030 | €3,610 | +€579 | +19.1% |
| Gross operating margin | 9900 | -€47,498 | -€51,874 | -€4,376 | -9.2% |
| Operating profit (loss) | 9901 | -€68,410 | -€67,319 | +€1,091 | +1.6% |
| Financial income | 75/76B | €26,100 | €15,961 | -€10,139 | -38.8% |
| Recurring financial income | 75 | €26,100 | €15,961 | -€10,139 | -38.8% |
| Financial charges | 65/66B | €834 | €917 | +€83 | +9.9% |
| Recurring financial charges | 65 | €834 | €917 | +€83 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | -€43,144 | -€52,275 | -€9,131 | -21.2% |
| Income taxes | 67/77 | €270 | €265 | -€4 | -1.7% |
| Profit (loss) for the period | 9904 | -€43,414 | -€52,540 | -€9,126 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,414 | -€52,540 | -€9,126 | -21.0% |
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 14 October 2026 via checked.be.