ARGENVINO: 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.
ARGENVINO
Largest movements
- Cash +€90,219
up €90,219 (+34.1%), from €264,195 to €354,414
mainly Net result for the year (+€108,472) and Depreciation (+€20,965)
- Receivables within one year +€33,218
up €33,218 (+95.7%), from €34,703 to €67,921
of which Trade receivables: +€17,101
- Tangible fixed assets -€20,723
down €20,723 (-20.9%), from €99,121 to €78,398
- Reserves +€108,472
up €108,472 (+34.2%), from €317,203 to €425,674
- Current portion of long-term debt -€7,152
down €7,152 (-57.0%), from €12,543 to €5,391
- Debts after one year -€5,391
down €5,391 (-100%), from €5,391 to €0
- Gross operating margin +€34,508
up €34,508 (+12.7%), from €272,026 to €306,534
- Staff costs +€31,141
up €31,141 (+35.9%), from €86,632 to €117,772
- Financial charges +€7,812
up €7,812 (+274%), from €2,852 to €10,664
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 | €419,034 | €517,445 | +€98,410 | +23.5% |
| Fixed assets | 21/28 | €99,363 | €78,398 | -€20,965 | -21.1% |
| Intangible fixed assets | 21 | €242 | €0 | -€242 | -100% |
| Tangible fixed assets | 22/27 | €99,121 | €78,398 | -€20,723 | -20.9% |
| Plant, machinery and equipment | 23 | €34,786 | €25,401 | -€9,385 | -27.0% |
| Furniture and vehicles | 24 | €13,125 | €9,503 | -€3,622 | -27.6% |
| Other tangible fixed assets | 26 | €51,210 | €43,494 | -€7,716 | -15.1% |
| Current assets | 29/58 | €319,672 | €439,047 | +€119,375 | +37.3% |
| Stocks and contracts in progress | 3 | €14,235 | €12,331 | -€1,904 | -13.4% |
| Stocks | 30/36 | €14,235 | €12,331 | -€1,904 | -13.4% |
| Amounts receivable within one year | 40/41 | €34,703 | €67,921 | +€33,218 | +95.7% |
| Trade receivables | 40 | €26,909 | €44,010 | +€17,101 | +63.6% |
| Other amounts receivable | 41 | €7,794 | €23,912 | +€16,118 | +207% |
| Cash at bank and in hand | 54/58 | €264,195 | €354,414 | +€90,219 | +34.1% |
| Deferred charges and accrued income | 490/1 | €6,539 | €4,380 | -€2,159 | -33.0% |
| Total equity and liabilities | 10/49 | €419,034 | €517,445 | +€98,410 | +23.5% |
| Equity | 10/15 | €323,403 | €431,874 | +€108,472 | +33.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €317,203 | €425,674 | +€108,472 | +34.2% |
| Distributable reserves | 133 | €317,203 | €425,674 | +€108,472 | +34.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €95,632 | €85,570 | -€10,061 | -10.5% |
| Amounts payable after more than one year | 17 | €5,391 | €0 | -€5,391 | -100% |
| Financial debts | 170/4 | €5,391 | €0 | -€5,391 | -100% |
| Amounts payable within one year | 42/48 | €89,116 | €84,675 | -€4,441 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €12,543 | €5,391 | -€7,152 | -57.0% |
| Financial debts | 43 | €4,262 | €6,743 | +€2,481 | +58.2% |
| Credit institutions | 430/8 | €4,262 | €6,743 | +€2,481 | +58.2% |
| Trade debts | 44 | €45,007 | €46,136 | +€1,129 | +2.5% |
| Suppliers | 440/4 | €45,007 | €46,136 | +€1,129 | +2.5% |
| Taxes, remuneration and social security | 45 | €25,457 | €26,405 | +€947 | +3.7% |
| Taxes | 450/3 | €10,330 | €11,435 | +€1,105 | +10.7% |
| Remuneration and social security | 454/9 | €15,127 | €14,970 | -€157 | -1.0% |
| Other amounts payable | 47/48 | €1,847 | €0 | -€1,847 | -100% |
| Accrued charges and deferred income | 492/3 | €1,125 | €896 | -€229 | -20.4% |
| Remuneration, social security and pensions | 62 | €86,632 | €117,772 | +€31,141 | +35.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,263 | €20,965 | +€2,702 | +14.8% |
| Other operating charges | 640/8 | €1,299 | €2,004 | +€705 | +54.2% |
| Gross operating margin | 9900 | €272,026 | €306,534 | +€34,508 | +12.7% |
| Operating profit (loss) | 9901 | €165,833 | €165,793 | -€39 | 0.0% |
| Financial income | 75/76B | €3,733 | €1,065 | -€2,668 | -71.5% |
| Recurring financial income | 75 | €3,733 | €1,065 | -€2,668 | -71.5% |
| Financial charges | 65/66B | €2,852 | €10,664 | +€7,812 | +274% |
| Recurring financial charges | 65 | €2,852 | €10,664 | +€7,812 | +274% |
| Profit (loss) for the period before taxes | 9903 | €166,714 | €156,194 | -€10,520 | -6.3% |
| Income taxes | 67/77 | €50,148 | €47,722 | -€2,426 | -4.8% |
| Profit (loss) for the period | 9904 | €116,566 | €108,472 | -€8,094 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €116,566 | €108,472 | -€8,094 | -6.9% |
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 26 October 2026 via checked.be.