ARGEPA: 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.
ARGEPA
Largest movements
- Tangible fixed assets -€4,585
down €4,585 (-6.3%), from €72,644 to €68,059
- Deferred charges and accrued income -€1,070
down €1,070 (-97.7%), from €1,095 to €25
- Profit (loss) carried forward -€8,319
down €8,319 (-5.5%), from -€151,667 to -€159,986
- Other debts +€2,086
up €2,086 (+1.2%), from €169,388 to €171,474
- Gross operating margin -€5,778
down €5,778 (-83.2%), from €6,949 to €1,171
- Depreciation +€85
up €85 (+1.5%), from €5,824 to €5,909
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 | €79,695 | €73,462 | -€6,233 | -7.8% |
| Fixed assets | 21/28 | €72,644 | €68,059 | -€4,585 | -6.3% |
| Tangible fixed assets | 22/27 | €72,644 | €68,059 | -€4,585 | -6.3% |
| Land and buildings | 22 | €72,644 | €68,059 | -€4,585 | -6.3% |
| Current assets | 29/58 | €7,051 | €5,403 | -€1,648 | -23.4% |
| Amounts receivable within one year | 40/41 | €75 | €0 | -€75 | -100.0% |
| Trade receivables | 40 | €75 | €0 | -€75 | -100.0% |
| Cash at bank and in hand | 54/58 | €5,881 | €5,378 | -€503 | -8.6% |
| Deferred charges and accrued income | 490/1 | €1,095 | €25 | -€1,070 | -97.7% |
| Total equity and liabilities | 10/49 | €79,695 | €73,462 | -€6,233 | -7.8% |
| Equity | 10/15 | -€89,694 | -€98,013 | -€8,319 | -9.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€151,667 | -€159,986 | -€8,319 | -5.5% |
| Amounts payable | 17/49 | €169,388 | €171,474 | +€2,086 | +1.2% |
| Amounts payable within one year | 42/48 | €169,388 | €171,474 | +€2,086 | +1.2% |
| Other amounts payable | 47/48 | €169,388 | €171,474 | +€2,086 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,824 | €5,909 | +€85 | +1.5% |
| Other operating charges | 640/8 | €3,648 | €3,581 | -€67 | -1.8% |
| Gross operating margin | 9900 | €6,949 | €1,171 | -€5,778 | -83.2% |
| Operating profit (loss) | 9901 | -€2,523 | -€8,319 | -€5,796 | -229.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,523 | -€8,319 | -€5,796 | -229.7% |
| Profit (loss) for the period | 9904 | -€2,523 | -€8,319 | -€5,796 | -229.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,523 | -€8,319 | -€5,796 | -229.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.