ARGALI: 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.
ARGALI
Largest movements
- Cash +€41,979
up €41,979 (+116.5%), from €36,038 to €78,017
mainly Net result for the year (+€43,173) and Investment in fixed assets (net) (+€18,817)
- Tangible fixed assets -€19,066
down €19,066 (-91.8%), from €20,775 to €1,709
of which Plant, machinery and equipment: -€20,317
- Reserves +€43,173
up €43,173 (+29.6%), from €146,050 to €189,223
- Debts after one year -€34,112
down €34,112 (-20.8%), from €163,965 to €129,853
- Tax, wage and social debts +€6,280
up €6,280 (+119.0%), from €5,275 to €11,555
- Other debts +€6,254
up €6,254 (+68.1%), from €9,186 to €15,440
- Financial income -€78,213
down €78,213 (-72.0%), from €108,633 to €30,420
- Gross operating margin -€7,336
down €7,336 (-20.1%), from €36,564 to €29,228
- Depreciation -€2,643
down €2,643 (-91.4%), from €2,892 to €249
- Financial charges -€1,427
down €1,427 (-16.3%), from €8,755 to €7,328
- Other operating charges +€1,372
up €1,372 (+603.0%), from €227 to €1,599
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 | €365,956 | €385,708 | +€19,753 | +5.4% |
| Fixed assets | 21/28 | €257,025 | €237,959 | -€19,066 | -7.4% |
| Tangible fixed assets | 22/27 | €20,775 | €1,709 | -€19,066 | -91.8% |
| Plant, machinery and equipment | 23 | €20,317 | €0 | -€20,317 | -100.0% |
| Furniture and vehicles | 24 | €459 | €1,709 | +€1,251 | +272.8% |
| Financial fixed assets | 28 | €236,250 | €236,250 | = | 0.0% |
| Current assets | 29/58 | €108,930 | €147,749 | +€38,818 | +35.6% |
| Amounts receivable within one year | 40/41 | €71,885 | €69,473 | -€2,412 | -3.4% |
| Trade receivables | 40 | €10,285 | €9,304 | -€981 | -9.5% |
| Other amounts receivable | 41 | €61,600 | €60,169 | -€1,431 | -2.3% |
| Cash at bank and in hand | 54/58 | €36,038 | €78,017 | +€41,979 | +116.5% |
| Deferred charges and accrued income | 490/1 | €1,008 | €259 | -€749 | -74.3% |
| Total equity and liabilities | 10/49 | €365,956 | €385,708 | +€19,753 | +5.4% |
| Equity | 10/15 | €151,450 | €194,623 | +€43,173 | +28.5% |
| Contributions | 10/11 | €5,400 | €5,400 | = | 0.0% |
| Reserves | 13 | €146,050 | €189,223 | +€43,173 | +29.6% |
| Distributable reserves | 133 | €146,050 | €189,223 | +€43,173 | +29.6% |
| Amounts payable | 17/49 | €214,505 | €191,085 | -€23,420 | -10.9% |
| Amounts payable after more than one year | 17 | €163,965 | €129,853 | -€34,112 | -20.8% |
| Financial debts | 170/4 | €163,965 | €129,853 | -€34,112 | -20.8% |
| Amounts payable within one year | 42/48 | €50,540 | €61,232 | +€10,692 | +21.2% |
| Current portion of amounts payable after more than one year | 42 | €32,872 | €34,112 | +€1,240 | +3.8% |
| Trade debts | 44 | €3,208 | €125 | -€3,083 | -96.1% |
| Suppliers | 440/4 | €3,208 | €125 | -€3,083 | -96.1% |
| Taxes, remuneration and social security | 45 | €5,275 | €11,555 | +€6,280 | +119.0% |
| Taxes | 450/3 | €5,275 | €11,555 | +€6,280 | +119.0% |
| Other amounts payable | 47/48 | €9,186 | €15,440 | +€6,254 | +68.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,892 | €249 | -€2,643 | -91.4% |
| Other operating charges | 640/8 | €227 | €1,599 | +€1,372 | +603.0% |
| Gross operating margin | 9900 | €36,564 | €29,228 | -€7,336 | -20.1% |
| Operating profit (loss) | 9901 | €33,444 | €27,380 | -€6,065 | -18.1% |
| Financial income | 75/76B | €108,633 | €30,420 | -€78,213 | -72.0% |
| Recurring financial income | 75 | €108,633 | €30,420 | -€78,213 | -72.0% |
| Financial charges | 65/66B | €8,755 | €7,328 | -€1,427 | -16.3% |
| Recurring financial charges | 65 | €8,755 | €7,328 | -€1,427 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €133,322 | €50,471 | -€82,851 | -62.1% |
| Income taxes | 67/77 | €6,551 | €7,299 | +€747 | +11.4% |
| Profit (loss) for the period | 9904 | €126,771 | €43,173 | -€83,598 | -65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €126,771 | €43,173 | -€83,598 | -65.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.