ARGALIX: 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.
ARGALIX
Largest movements
- Current investments -€465,729
down €465,729 (-48.7%), from €957,148 to €491,419
- Cash -€146,025
down €146,025 (-58.7%), from €248,893 to €102,868
mainly Contributions, distributions and other (-€1.2m) and Investment in fixed assets (net) (-€99,658)
- Deferred charges and accrued income -€104,524
down €104,524 (-57.1%), from €182,916 to €78,393
- Tangible fixed assets +€43,632
up €43,632 (+4.0%), from €1.1m to €1.1m
of which Other tangible fixed assets: +€66,533
- Receivables within one year +€41,221
up €41,221 (+39.4%), from €104,555 to €145,776
of which Trade receivables: +€26,462
- Reserves -€692,461
down €692,461 (-25.5%), from €2.7m to €2.0m
of which Distributable reserves: -€355,661
- Tax, wage and social debts +€39,668
up €39,668 (+21.6%), from €183,833 to €223,501
- Gross operating margin -€139,533
down €139,533 (-17.3%), from €806,363 to €666,830
- Financial income +€83,629
up €83,629 (+64.3%), from €130,014 to €213,643
- Taxes +€15,657
up €15,657 (+6.2%), from €250,752 to €266,409
- Depreciation +€9,873
up €9,873 (+21.4%), from €46,152 to €56,025
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 | €2,917,878 | €2,274,453 | -€643,425 | -22.1% |
| Fixed assets | 21/28 | €1,099,365 | €1,142,997 | +€43,632 | +4.0% |
| Tangible fixed assets | 22/27 | €1,099,269 | €1,142,901 | +€43,632 | +4.0% |
| Land and buildings | 22 | €890,662 | €885,136 | -€5,527 | -0.6% |
| Plant, machinery and equipment | 23 | €2,818 | €1,590 | -€1,228 | -43.6% |
| Furniture and vehicles | 24 | €71,694 | €55,548 | -€16,146 | -22.5% |
| Other tangible fixed assets | 26 | €134,095 | €200,628 | +€66,533 | +49.6% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €1,818,513 | €1,131,456 | -€687,057 | -37.8% |
| Amounts receivable after more than one year | 29 | €325,000 | €313,000 | -€12,000 | -3.7% |
| Other amounts receivable | 291 | €325,000 | €313,000 | -€12,000 | -3.7% |
| Amounts receivable within one year | 40/41 | €104,555 | €145,776 | +€41,221 | +39.4% |
| Trade receivables | 40 | €90,715 | €117,176 | +€26,462 | +29.2% |
| Other amounts receivable | 41 | €13,840 | €28,600 | +€14,760 | +107% |
| Current investments | 50/53 | €957,148 | €491,419 | -€465,729 | -48.7% |
| Cash at bank and in hand | 54/58 | €248,893 | €102,868 | -€146,025 | -58.7% |
| Deferred charges and accrued income | 490/1 | €182,916 | €78,393 | -€104,524 | -57.1% |
| Total equity and liabilities | 10/49 | €2,917,878 | €2,274,453 | -€643,425 | -22.1% |
| Equity | 10/15 | €2,726,660 | €2,034,199 | -€692,461 | -25.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €2,714,160 | €2,021,699 | -€692,461 | -25.5% |
| Tax-exempt reserves | 132 | €399,950 | €63,150 | -€336,800 | -84.2% |
| Distributable reserves | 133 | €2,314,210 | €1,958,549 | -€355,661 | -15.4% |
| Amounts payable | 17/49 | €191,218 | €240,254 | +€49,036 | +25.6% |
| Amounts payable within one year | 42/48 | €190,828 | €240,254 | +€49,426 | +25.9% |
| Trade debts | 44 | €6,994 | €16,752 | +€9,758 | +140% |
| Suppliers | 440/4 | €6,994 | €16,752 | +€9,758 | +140% |
| Taxes, remuneration and social security | 45 | €183,833 | €223,501 | +€39,668 | +21.6% |
| Taxes | 450/3 | €183,833 | €223,501 | +€39,668 | +21.6% |
| Accrued charges and deferred income | 492/3 | €390 | - | -€390 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,152 | €56,025 | +€9,873 | +21.4% |
| Other operating charges | 640/8 | €6,657 | €5,818 | -€840 | -12.6% |
| Non-recurring operating charges | 66A | €1,571 | €1,720 | +€148 | +9.4% |
| Gross operating margin | 9900 | €806,363 | €666,830 | -€139,533 | -17.3% |
| Operating profit (loss) | 9901 | €751,982 | €603,267 | -€148,715 | -19.8% |
| Financial income | 75/76B | €130,014 | €213,643 | +€83,629 | +64.3% |
| Recurring financial income | 75 | €130,014 | €213,643 | +€83,629 | +64.3% |
| Financial charges | 65/66B | €77,287 | €81,797 | +€4,510 | +5.8% |
| Recurring financial charges | 65 | €77,287 | €81,797 | +€4,510 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €804,709 | €735,112 | -€69,596 | -8.6% |
| Income taxes | 67/77 | €250,752 | €266,409 | +€15,657 | +6.2% |
| Profit (loss) for the period | 9904 | €553,956 | €468,703 | -€85,253 | -15.4% |
| Transfer from tax-exempt reserves | 789 | - | €336,800 | +€336,800 | |
| Profit (loss) for the period to be appropriated | 9905 | €553,956 | €805,503 | +€251,547 | +45.4% |
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 15 October 2026 via checked.be.