ARGM USINAGE: 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.
ARGM USINAGE
Largest movements
- Receivables within one year +€17,070
up €17,070 (+1190.0%), from €1,434 to €18,504
of which Trade receivables: +€14,561
- Cash +€2,072
up €2,072 (+17.1%), from €12,094 to €14,167
mainly Net result for the year (+€26,140) and Tax, wage and social debts (+€11,770)
- Tangible fixed assets -€1,788
down €1,788 (-7.7%), from €23,332 to €21,544
of which Plant, machinery and equipment: -€8,333
- Profit (loss) carried forward +€26,140
up €26,140 (+691.6%), from €3,780 to €29,920
- Trade debts -€20,131
down €20,131 (-79.5%), from €25,322 to €5,191
- Tax, wage and social debts +€11,770
up €11,770 (+223.8%), from €5,258 to €17,028
- Gross operating margin +€38,303
up €38,303 (+596.4%), from €6,422 to €44,725
- Depreciation +€8,003
up €8,003 (+479.7%), from €1,668 to €9,672
- Taxes +€7,972
up €7,972 (+818.6%), from €974 to €8,946
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 | €36,861 | €54,640 | +€17,779 | +48.2% |
| Fixed assets | 21/28 | €23,332 | €21,544 | -€1,788 | -7.7% |
| Tangible fixed assets | 22/27 | €23,332 | €21,544 | -€1,788 | -7.7% |
| Plant, machinery and equipment | 23 | €23,332 | €14,999 | -€8,333 | -35.7% |
| Furniture and vehicles | 24 | - | €6,544 | +€6,544 | |
| Current assets | 29/58 | €13,529 | €33,096 | +€19,567 | +144.6% |
| Amounts receivable within one year | 40/41 | €1,434 | €18,504 | +€17,070 | +1190.0% |
| Trade receivables | 40 | €1,434 | €15,995 | +€14,561 | +1015.1% |
| Other amounts receivable | 41 | - | €2,509 | +€2,509 | |
| Cash at bank and in hand | 54/58 | €12,094 | €14,167 | +€2,072 | +17.1% |
| Deferred charges and accrued income | 490/1 | - | €425 | +€425 | |
| Total equity and liabilities | 10/49 | €36,861 | €54,640 | +€17,779 | +48.2% |
| Equity | 10/15 | €6,280 | €32,420 | +€26,140 | +416.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,780 | €29,920 | +€26,140 | +691.6% |
| Amounts payable | 17/49 | €30,581 | €22,220 | -€8,361 | -27.3% |
| Amounts payable within one year | 42/48 | €30,581 | €22,220 | -€8,361 | -27.3% |
| Trade debts | 44 | €25,322 | €5,191 | -€20,131 | -79.5% |
| Suppliers | 440/4 | €25,322 | €5,191 | -€20,131 | -79.5% |
| Taxes, remuneration and social security | 45 | €5,258 | €17,028 | +€11,770 | +223.8% |
| Taxes | 450/3 | €5,258 | €17,028 | +€11,770 | +223.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,668 | €9,672 | +€8,003 | +479.7% |
| Other operating charges | 640/8 | - | €100 | +€100 | |
| Gross operating margin | 9900 | €6,422 | €44,725 | +€38,303 | +596.4% |
| Operating profit (loss) | 9901 | €4,754 | €34,954 | +€30,200 | +635.3% |
| Financial income | 75/76B | - | €132 | +€132 | |
| Recurring financial income | 75 | - | €132 | +€132 | |
| Financial charges | 65/66B | €0 | €0 | -€0 | -76.9% |
| Recurring financial charges | 65 | €0 | €0 | -€0 | -76.9% |
| Profit (loss) for the period before taxes | 9903 | €4,754 | €35,086 | +€30,332 | +638.1% |
| Income taxes | 67/77 | €974 | €8,946 | +€7,972 | +818.6% |
| Profit (loss) for the period | 9904 | €3,780 | €26,140 | +€22,361 | +591.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,780 | €26,140 | +€22,361 | +591.6% |
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 11 October 2026 via checked.be.