ARGALI CAPITAL: 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.
ARGALI CAPITAL
Largest movements
- Cash +€295,707
up €295,707 (+167%), from €176,919 to €472,626
mainly Net result for the year (+€343,864) and Other debts (+€297,500)
- Tangible fixed assets -€7,766
down €7,766 (-27.0%), from €28,732 to €20,966
of which Furniture and vehicles: -€5,322
- Receivables within one year +€5,893
up €5,893 (+63.7%), from €9,250 to €15,143
of which Trade receivables: +€6,383
- Other debts +€297,500
up €297,500, from €0 to €297,500
- Profit (loss) carried forward -€6,136
down €6,136 (-3.8%), from €161,092 to €154,956
- Tax, wage and social debts +€5,603
up €5,603 (+17.9%), from €31,244 to €36,847
- Gross operating margin +€30,527
up €30,527 (+6.8%), from €446,666 to €477,192
- Taxes +€11,405
up €11,405 (+10.2%), from €111,511 to €122,916
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 | €236,689 | €530,658 | +€293,969 | +124% |
| Fixed assets | 21/28 | €34,042 | €26,276 | -€7,766 | -22.8% |
| Tangible fixed assets | 22/27 | €28,732 | €20,966 | -€7,766 | -27.0% |
| Plant, machinery and equipment | 23 | €17,144 | €14,700 | -€2,444 | -14.3% |
| Furniture and vehicles | 24 | €11,588 | €6,266 | -€5,322 | -45.9% |
| Financial fixed assets | 28 | €5,310 | €5,310 | = | 0.0% |
| Current assets | 29/58 | €202,647 | €504,382 | +€301,735 | +149% |
| Amounts receivable within one year | 40/41 | €9,250 | €15,143 | +€5,893 | +63.7% |
| Trade receivables | 40 | €8,742 | €15,125 | +€6,383 | +73.0% |
| Other amounts receivable | 41 | €508 | €18 | -€490 | -96.4% |
| Cash at bank and in hand | 54/58 | €176,919 | €472,626 | +€295,707 | +167% |
| Deferred charges and accrued income | 490/1 | €16,478 | €16,613 | +€135 | +0.8% |
| Total equity and liabilities | 10/49 | €236,689 | €530,658 | +€293,969 | +124% |
| Equity | 10/15 | €181,552 | €175,416 | -€6,136 | -3.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €161,092 | €154,956 | -€6,136 | -3.8% |
| Amounts payable | 17/49 | €55,137 | €355,242 | +€300,105 | +544% |
| Amounts payable within one year | 42/48 | €55,137 | €355,242 | +€300,105 | +544% |
| Financial debts | 43 | €4,239 | €0 | -€4,239 | -100% |
| Credit institutions | 430/8 | €4,239 | €0 | -€4,239 | -100% |
| Trade debts | 44 | €19,655 | €20,895 | +€1,241 | +6.3% |
| Suppliers | 440/4 | €19,655 | €20,895 | +€1,241 | +6.3% |
| Taxes, remuneration and social security | 45 | €31,244 | €36,847 | +€5,603 | +17.9% |
| Taxes | 450/3 | €31,244 | €36,847 | +€5,603 | +17.9% |
| Other amounts payable | 47/48 | €0 | €297,500 | +€297,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,367 | €8,099 | +€731 | +9.9% |
| Other operating charges | 640/8 | €1,720 | €1,717 | -€3 | -0.2% |
| Gross operating margin | 9900 | €446,666 | €477,192 | +€30,527 | +6.8% |
| Operating profit (loss) | 9901 | €437,579 | €467,377 | +€29,798 | +6.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €215 | €597 | +€382 | +178% |
| Recurring financial charges | 65 | €215 | €597 | +€382 | +178% |
| Profit (loss) for the period before taxes | 9903 | €437,364 | €466,780 | +€29,416 | +6.7% |
| Income taxes | 67/77 | €111,511 | €122,916 | +€11,405 | +10.2% |
| Profit (loss) for the period | 9904 | €325,854 | €343,864 | +€18,010 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €325,854 | €343,864 | +€18,010 | +5.5% |
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 27 October 2026 via checked.be.