ARGAYON: 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.
What changed
ARGAYON
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €1.1m-€43,586
Equity
€55.8m
2024 · €54.7m+€1.0m
Cash
€316,945
2024 · €1.1m-€745,586
Balance sheet total
€105.3m
2024 · €105.2m+€114,537
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Taxes +€734,817
up €734,817 (+239.7%), from €306,570 to €1.0m
- Other operating income +€596,379
up €596,379 (+11.0%), from €5.4m to €6.0m
- Financial income +€370,910
up €370,910 (+77.4%), from €479,278 to €850,187
of which Financial income: +€370,910
- Turnover +€188,408
up €188,408 (+11.0%), from €1.7m to €1.9m
- Write-downs +€147,114
up €147,114 (+643.5%), from €22,860 to €169,973
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.
Result 2024
€1.1m
Turnover
+€188,408
Other operating income
+€596,379
Goods and materials
-€10,760
Services and other goods
-€135,602
Staff costs
+€46,247
Depreciation
-€40,071
Write-downs
-€147,114
Provisions
+€6,735
Other operating charges
-€73,674
Other operating items
-€27,026
Financial income
+€370,910
Financial charges
-€79,675
Taxes
-€734,817
Deferred taxes and other
-€3,526
Result 2025
€1.0m
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.
From operations
+€3.0m
Investment
-€3.3m
Financing
-€474,059
Cash 2024
€1.1m
From operations (derived)
+€3.0m
Net result for the year
+€1.0m
Depreciation
+€1.8m
Receivables within one year
+€609,849
Deferred charges and accrued income
-€33,345
Provisions
-€212,022
Trade debts
+€72,209
Tax, wage and social debts
-€17,697
Other debts
-€142,938
Accrued charges and deferred income
-€152,268
Investment (derived)
-€3.3m
Investment in fixed assets (net)
-€3.5m
Current investments
+€250,000
Financing
-€474,059
Debts after one year
-€739,872
Current portion of long-term debt
+€269,440
Short-term financial debts
-€3,627
Cash 2025
€316,945
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,158,276 | €105,272,813 | +€114,537 | +0.1% |
| Formation expenses | 20 | €1,818 | €167 | -€1,652 | -90.8% |
| Fixed assets | 21/28 | €99,484,817 | €101,173,097 | +€1.7m | +1.7% |
| Intangible fixed assets | 21 | €16,912 | €12,780 | -€4,132 | -24.4% |
| Tangible fixed assets | 22/27 | €40,532,271 | €41,251,425 | +€719,155 | +1.8% |
| Land and buildings | 22 | €39,824,442 | €40,539,062 | +€714,620 | +1.8% |
| Plant, machinery and equipment | 23 | €332,449 | €404,011 | +€71,562 | +21.5% |
| Furniture and vehicles | 24 | €375,379 | €289,352 | -€86,027 | -22.9% |
| Leasing and similar rights | 25 | - | €0 | = | |
| Assets under construction and advance payments | 27 | - | €19,000 | +€19,000 | |
| Financial fixed assets | 28 | €58,935,635 | €59,908,891 | +€973,257 | +1.7% |
| Affiliated companies | 280/1 | €58,927,412 | €59,900,669 | +€973,257 | +1.7% |
| Participating interests | 280 | €52,756,979 | €52,756,979 | = | 0.0% |
| Amounts receivable | 281 | €6,170,434 | €7,143,690 | +€973,257 | +15.8% |
| Other financial fixed assets | 284/8 | €8,223 | €8,223 | = | 0.0% |
| Shares | 284 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €8,223 | €8,223 | = | 0.0% |
| Current assets | 29/58 | €5,671,640 | €4,099,549 | -€1.6m | -27.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,330,823 | €720,974 | -€609,849 | -45.8% |
| Trade receivables | 40 | €597,056 | €524,221 | -€72,834 | -12.2% |
| Other amounts receivable | 41 | €733,768 | €196,753 | -€537,015 | -73.2% |
| Current investments | 50/53 | €3,150,000 | €2,900,000 | -€250,000 | -7.9% |
| Other investments | 51/53 | €3,150,000 | €2,900,000 | -€250,000 | -7.9% |
| Cash at bank and in hand | 54/58 | €1,062,531 | €316,945 | -€745,586 | -70.2% |
| Deferred charges and accrued income | 490/1 | €128,286 | €161,631 | +€33,345 | +26.0% |
| Total equity and liabilities | 10/49 | €105,158,276 | €105,272,813 | +€114,537 | +0.1% |
| Equity | 10/15 | €54,719,859 | €55,761,172 | +€1.0m | +1.9% |
| Contributions | 10/11 | €1,090,069 | €1,090,069 | = | 0.0% |
| Capital | 10 | €1,090,069 | €1,090,069 | = | 0.0% |
| Issued capital | 100 | €1,090,069 | €1,090,069 | = | 0.0% |
| Revaluation surpluses | 12 | €22,584,365 | €22,584,365 | = | 0.0% |
| Reserves | 13 | €3,002,197 | €3,761,082 | +€758,886 | +25.3% |
| Non-distributable reserves | 130/1 | €196,143 | €196,143 | = | 0.0% |
| Legal reserve | 130 | €196,143 | €196,143 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,219,329 | €2,978,214 | +€758,886 | +34.2% |
| Distributable reserves | 133 | €586,725 | €586,725 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,043,229 | €28,325,656 | +€282,427 | +1.0% |
| Provisions and deferred taxes | 16 | €19,177,040 | €18,965,017 | -€212,022 | -1.1% |
| Provisions for liabilities and charges | 160/5 | €19,066,155 | €18,861,458 | -€204,698 | -1.1% |
| Major repairs and maintenance | 162 | €82,736 | €75,408 | -€7,328 | -8.9% |
| Other liabilities and charges | 164/5 | €18,983,419 | €18,786,049 | -€197,370 | -1.0% |
| Deferred taxes | 168 | €110,884 | €103,560 | -€7,325 | -6.6% |
| Amounts payable | 17/49 | €31,261,377 | €30,546,624 | -€714,753 | -2.3% |
| Amounts payable after more than one year | 17 | €23,400,321 | €22,660,449 | -€739,872 | -3.2% |
| Financial debts | 170/4 | €15,230,804 | €13,946,535 | -€1.3m | -8.4% |
| Credit institutions | 173 | €15,136,321 | €13,900,190 | -€1.2m | -8.2% |
| Other loans | 174 | €94,483 | €46,345 | -€48,138 | -50.9% |
| Other amounts payable | 178/9 | €8,169,517 | €8,713,914 | +€544,397 | +6.7% |
| Amounts payable within one year | 42/48 | €7,038,798 | €7,216,186 | +€177,388 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €1,585,890 | €1,855,330 | +€269,440 | +17.0% |
| Financial debts | 43 | €3,627 | €0 | -€3,627 | -100.0% |
| Credit institutions | 430/8 | €3,627 | €0 | -€3,627 | -100.0% |
| Trade debts | 44 | €173,310 | €245,519 | +€72,209 | +41.7% |
| Suppliers | 440/4 | €173,310 | €245,519 | +€72,209 | +41.7% |
| Taxes, remuneration and social security | 45 | €146,203 | €128,506 | -€17,697 | -12.1% |
| Taxes | 450/3 | €99,937 | €82,672 | -€17,265 | -17.3% |
| Remuneration and social security | 454/9 | €46,266 | €45,834 | -€432 | -0.9% |
| Other amounts payable | 47/48 | €5,129,768 | €4,986,831 | -€142,938 | -2.8% |
| Accrued charges and deferred income | 492/3 | €822,257 | €669,989 | -€152,268 | -18.5% |
| Operating income | 70/76A | €7,146,914 | €7,929,785 | +€782,872 | +11.0% |
| Turnover | 70 | €1,720,004 | €1,908,413 | +€188,408 | +11.0% |
| Other operating income | 74 | €5,424,994 | €6,021,373 | +€596,379 | +11.0% |
| Non-recurring operating income | 76A | €1,916 | €0 | -€1,916 | -100.0% |
| Operating charges | 60/66A | €4,103,608 | €4,482,957 | +€379,350 | +9.2% |
| Goods for resale, raw materials and consumables | 60 | - | €10,760 | +€10,760 | |
| Purchases | 600/8 | - | €10,760 | +€10,760 | |
| Services and other goods | 61 | €1,705,556 | €1,841,158 | +€135,602 | +8.0% |
| Remuneration, social security and pensions | 62 | €356,388 | €310,141 | -€46,247 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,797,151 | €1,837,222 | +€40,071 | +2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,860 | €169,973 | +€147,114 | +643.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€197,963 | -€204,698 | -€6,735 | -3.4% |
| Other operating charges | 640/8 | €401,599 | €475,272 | +€73,674 | +18.3% |
| Non-recurring operating charges | 66A | €18,017 | €43,128 | +€25,111 | +139.4% |
| Operating profit (loss) | 9901 | €3,043,306 | €3,446,828 | +€403,522 | +13.3% |
| Financial income | 75/76B | €479,278 | €850,187 | +€370,910 | +77.4% |
| Recurring financial income | 75 | €479,278 | €850,187 | +€370,910 | +77.4% |
| Income from financial fixed assets | 750 | €461,695 | €836,406 | +€374,711 | +81.2% |
| Other financial income | 752/9 | €17,583 | €13,781 | -€3,801 | -21.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €2,141,966 | €2,221,641 | +€79,675 | +3.7% |
| Recurring financial charges | 65 | €2,141,966 | €2,221,641 | +€79,675 | +3.7% |
| Debt charges | 650 | €623,625 | €710,812 | +€87,187 | +14.0% |
| Other financial charges | 652/9 | €1,518,341 | €1,510,829 | -€7,512 | -0.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €1,380,618 | €2,075,375 | +€694,757 | +50.3% |
| Transfer from deferred taxes | 780 | €10,851 | €7,325 | -€3,526 | -32.5% |
| Income taxes | 67/77 | €306,570 | €1,041,387 | +€734,817 | +239.7% |
| Taxes | 670/3 | €306,570 | €1,041,387 | +€734,817 | +239.7% |
| Profit (loss) for the period | 9904 | €1,084,899 | €1,041,313 | -€43,586 | -4.0% |
| Transfer from tax-exempt reserves | 789 | €32,552 | €125,214 | +€92,663 | +284.7% |
| Transfer to tax-exempt reserves | 689 | €505,200 | €884,100 | +€378,900 | +75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €612,250 | €282,427 | -€329,823 | -53.9% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.