ARGIA: 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.
ARGIA
Largest movements
- Tangible fixed assets -€67,387
down €67,387 (-16.8%), from €400,801 to €333,415
of which Plant, machinery and equipment: -€35,388
- Receivables within one year -€56,702
down €56,702 (-96.2%), from €58,946 to €2,245
of which Other amounts receivable: -€39,466
- Other debts -€178,066
down €178,066 (-85.3%), from €208,633 to €30,567
- Reserves +€113,273
up €113,273 (+113,273%), from €100 to €113,373
of which Distributable reserves: +€113,373
- Trade debts +€87,307
up €87,307 (+542%), from €16,113 to €103,420
- Tax, wage and social debts -€73,971
down €73,971 (-66.8%), from €110,662 to €36,692
of which Taxes: -€80,702
- Profit (loss) carried forward -€73,365
no longer reported in 2025 (was €73,365)
- Turnover -€457,781
no longer reported in 2025 (was €457,781)
- Purchases and services -€193,425
no longer reported in 2025 (was €193,425)
- Taxes -€47,945
no longer reported in 2025 (was €47,945)
- Gross operating margin +€47,310
up €47,310 (+17.9%), from €264,356 to €311,666
- Financial income +€24,521
new in 2025: €24,521
of which Financial income: +€24,521
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 | €472,148 | €351,957 | -€120,190 | -25.5% |
| Fixed assets | 21/28 | €413,201 | €345,815 | -€67,387 | -16.3% |
| Tangible fixed assets | 22/27 | €400,801 | €333,415 | -€67,387 | -16.8% |
| Land and buildings | 22 | €192,299 | €174,169 | -€18,130 | -9.4% |
| Plant, machinery and equipment | 23 | €136,796 | €101,408 | -€35,388 | -25.9% |
| Furniture and vehicles | 24 | €4,635 | - | -€4,635 | |
| Other tangible fixed assets | 26 | €67,072 | €57,838 | -€9,235 | -13.8% |
| Financial fixed assets | 28 | €12,400 | €12,400 | = | 0.0% |
| Current assets | 29/58 | €58,946 | €6,143 | -€52,804 | -89.6% |
| Amounts receivable within one year | 40/41 | €58,946 | €2,245 | -€56,702 | -96.2% |
| Trade receivables | 40 | €17,236 | - | -€17,236 | |
| Other amounts receivable | 41 | €41,711 | €2,245 | -€39,466 | -94.6% |
| Cash at bank and in hand | 54/58 | - | €3,898 | +€3,898 | |
| Total equity and liabilities | 10/49 | €472,148 | €351,957 | -€120,190 | -25.5% |
| Equity | 10/15 | €83,465 | €123,373 | +€39,908 | +47.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €100 | €113,373 | +€113,273 | +113,273% |
| Non-distributable reserves | 130/1 | €100 | - | -€100 | |
| Reserves not available under the articles | 1311 | €100 | - | -€100 | |
| Distributable reserves | 133 | - | €113,373 | +€113,373 | |
| Profit (loss) carried forward | 14 | €73,365 | - | -€73,365 | |
| Amounts payable | 17/49 | €388,682 | €228,584 | -€160,098 | -41.2% |
| Amounts payable after more than one year | 17 | €53,274 | - | -€53,274 | |
| Financial debts | 170/4 | €53,274 | - | -€53,274 | |
| Amounts payable within one year | 42/48 | €335,408 | €228,584 | -€106,824 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | - | €57,905 | +€57,905 | |
| Trade debts | 44 | €16,113 | €103,420 | +€87,307 | +542% |
| Suppliers | 440/4 | €16,113 | €103,420 | +€87,307 | +542% |
| Taxes, remuneration and social security | 45 | €110,662 | €36,692 | -€73,971 | -66.8% |
| Taxes | 450/3 | €110,662 | €29,960 | -€80,702 | -72.9% |
| Remuneration and social security | 454/9 | - | €6,731 | +€6,731 | |
| Other amounts payable | 47/48 | €208,633 | €30,567 | -€178,066 | -85.3% |
| Turnover | 70 | €457,781 | - | -€457,781 | |
| Goods, raw materials, services and sundry goods | 60/61 | €193,425 | - | -€193,425 | |
| Remuneration, social security and pensions | 62 | €140,853 | €125,245 | -€15,608 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,146 | €66,696 | +€6,550 | +10.9% |
| Other operating charges | 640/8 | €8,594 | €15,915 | +€7,321 | +85.2% |
| Non-recurring operating charges | 66A | - | €80,000 | +€80,000 | |
| Gross operating margin | 9900 | €264,356 | €311,666 | +€47,310 | +17.9% |
| Operating profit (loss) | 9901 | €54,763 | €23,810 | -€30,953 | -56.5% |
| Financial income | 75/76B | - | €24,521 | +€24,521 | |
| Recurring financial income | 75 | - | €24,521 | +€24,521 | |
| Non-recurring financial income | 76B | - | €24,521 | +€24,521 | |
| Financial charges | 65/66B | €2,371 | €8,423 | +€6,053 | +255% |
| Recurring financial charges | 65 | €1,835 | €8,423 | +€6,588 | +359% |
| Non-recurring financial charges | 66B | €536 | - | -€536 | |
| Profit (loss) for the period before taxes | 9903 | €52,393 | €39,908 | -€12,485 | -23.8% |
| Income taxes | 67/77 | €47,945 | - | -€47,945 | |
| Profit (loss) for the period | 9904 | €4,448 | €39,908 | +€35,460 | +797% |
| Profit (loss) for the period to be appropriated | 9905 | €4,448 | €39,908 | +€35,460 | +797% |
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 18 October 2026 via checked.be.