ARGIROM: 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.
ARGIROM
Largest movements
- Receivables within one year -€28,681
down €28,681 (-18.4%), from €156,072 to €127,391
of which Trade receivables: -€18,752
- Cash +€14,512
up €14,512 (+627.1%), from €2,314 to €16,826
mainly Receivables within one year (+€28,681) and Investment in fixed assets (net) (+€7,378)
- Tangible fixed assets -€8,331
down €8,331 (-87.8%), from €9,488 to €1,157
of which Furniture and vehicles: -€8,098
- Trade debts -€12,466
down €12,466 (-96.1%), from €12,969 to €503
- Other debts -€10,000
no longer reported in 2025 (was €10,000)
- Profit (loss) carried forward +€7,188
up €7,188 (+6.7%), from €107,099 to €114,287
- Tax, wage and social debts -€6,580
down €6,580 (-38.0%), from €17,296 to €10,716
of which Taxes: -€5,063
- Gross operating margin -€26,747
down €26,747 (-55.5%), from €48,155 to €21,408
- Depreciation -€7,223
down €7,223 (-88.3%), from €8,176 to €953
- Other operating charges +€3,122
up €3,122 (+230.9%), from €1,352 to €4,474
- Taxes -€1,958
down €1,958 (-25.2%), from €7,777 to €5,819
- Financial income -€910
down €910 (-18.5%), from €4,930 to €4,020
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 | €167,874 | €146,016 | -€21,858 | -13.0% |
| Fixed assets | 21/28 | €9,488 | €1,157 | -€8,331 | -87.8% |
| Tangible fixed assets | 22/27 | €9,488 | €1,157 | -€8,331 | -87.8% |
| Plant, machinery and equipment | 23 | €339 | €106 | -€233 | -68.7% |
| Furniture and vehicles | 24 | €9,149 | €1,051 | -€8,098 | -88.5% |
| Current assets | 29/58 | €158,386 | €144,859 | -€13,527 | -8.5% |
| Amounts receivable within one year | 40/41 | €156,072 | €127,391 | -€28,681 | -18.4% |
| Trade receivables | 40 | €70,539 | €51,787 | -€18,752 | -26.6% |
| Other amounts receivable | 41 | €85,533 | €75,604 | -€9,929 | -11.6% |
| Cash at bank and in hand | 54/58 | €2,314 | €16,826 | +€14,512 | +627.1% |
| Deferred charges and accrued income | 490/1 | - | €642 | +€642 | |
| Total equity and liabilities | 10/49 | €167,874 | €146,016 | -€21,858 | -13.0% |
| Equity | 10/15 | €115,159 | €122,347 | +€7,188 | +6.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,099 | €114,287 | +€7,188 | +6.7% |
| Amounts payable | 17/49 | €52,715 | €23,669 | -€29,046 | -55.1% |
| Amounts payable within one year | 42/48 | €52,715 | €23,669 | -€29,046 | -55.1% |
| Current portion of amounts payable after more than one year | 42 | €2,450 | €2,450 | = | 0.0% |
| Trade debts | 44 | €12,969 | €503 | -€12,466 | -96.1% |
| Suppliers | 440/4 | €12,969 | €503 | -€12,466 | -96.1% |
| Advances received on contracts in progress | 46 | €10,000 | €10,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €17,296 | €10,716 | -€6,580 | -38.0% |
| Taxes | 450/3 | €12,894 | €7,831 | -€5,063 | -39.3% |
| Remuneration and social security | 454/9 | €4,402 | €2,885 | -€1,517 | -34.5% |
| Other amounts payable | 47/48 | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,176 | €953 | -€7,223 | -88.3% |
| Other operating charges | 640/8 | €1,352 | €4,474 | +€3,122 | +230.9% |
| Gross operating margin | 9900 | €48,155 | €21,408 | -€26,747 | -55.5% |
| Operating profit (loss) | 9901 | €38,627 | €15,981 | -€22,646 | -58.6% |
| Financial income | 75/76B | €4,930 | €4,020 | -€910 | -18.5% |
| Recurring financial income | 75 | €4,930 | €4,020 | -€910 | -18.5% |
| Financial charges | 65/66B | €7,373 | €6,993 | -€380 | -5.2% |
| Recurring financial charges | 65 | €7,373 | €6,993 | -€380 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €36,184 | €13,008 | -€23,176 | -64.1% |
| Income taxes | 67/77 | €7,777 | €5,819 | -€1,958 | -25.2% |
| Profit (loss) for the period | 9904 | €28,407 | €7,189 | -€21,218 | -74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,407 | €7,189 | -€21,218 | -74.7% |
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 10 October 2026 via checked.be.