ArGo: 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.
ArGo
Largest movements
- Cash -€20,972
down €20,972 (-20.9%), from €100,416 to €79,445
mainly Contributions, distributions and other (-€59,210) and Receivables within one year (-€20,249)
- Receivables within one year +€20,249
up €20,249 (+189%), from €10,726 to €30,975
of which Trade receivables: +€11,681
- Tangible fixed assets +€6,773
up €6,773 (+69.8%), from €9,709 to €16,482
of which Furniture and vehicles: +€7,217
- Profit (loss) carried forward -€78,810
down €78,810 (-83.4%), from €94,548 to €15,738
- Tax, wage and social debts +€72,028
up €72,028 (+407%), from €17,684 to €89,712
of which Taxes: +€38,387
- Accrued charges and deferred income +€10,412
new in 2025: €10,412
- Other debts +€1,523
up €1,523 (+31.0%), from €4,913 to €6,436
- Purchases and services +€64,871
up €64,871 (+82.1%), from €79,058 to €143,929
- Gross operating margin -€57,567
down €57,567, from €48,023 to -€9,544
- Taxes -€9,479
down €9,479 (-98.6%), from €9,611 to €132
- Turnover +€8,051
up €8,051 (+6.6%), from €122,209 to €130,260
- Depreciation +€1,871
up €1,871 (+77.8%), from €2,406 to €4,277
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 | €121,179 | €127,075 | +€5,896 | +4.9% |
| Fixed assets | 21/28 | €9,709 | €16,482 | +€6,773 | +69.8% |
| Tangible fixed assets | 22/27 | €9,709 | €16,482 | +€6,773 | +69.8% |
| Furniture and vehicles | 24 | €6,648 | €13,865 | +€7,217 | +109% |
| Leasing and similar rights | 25 | €3,061 | €2,617 | -€443 | -14.5% |
| Current assets | 29/58 | €111,470 | €110,593 | -€877 | -0.8% |
| Amounts receivable within one year | 40/41 | €10,726 | €30,975 | +€20,249 | +189% |
| Trade receivables | 40 | €10,726 | €22,407 | +€11,681 | +109% |
| Other amounts receivable | 41 | - | €8,568 | +€8,568 | |
| Cash at bank and in hand | 54/58 | €100,416 | €79,445 | -€20,972 | -20.9% |
| Deferred charges and accrued income | 490/1 | €327 | €172 | -€155 | -47.3% |
| Total equity and liabilities | 10/49 | €121,179 | €127,075 | +€5,896 | +4.9% |
| Equity | 10/15 | €97,548 | €18,738 | -€78,810 | -80.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,548 | €15,738 | -€78,810 | -83.4% |
| Amounts payable | 17/49 | €23,631 | €108,337 | +€84,706 | +358% |
| Amounts payable within one year | 42/48 | €23,631 | €97,925 | +€74,294 | +314% |
| Trade debts | 44 | €1,034 | €1,777 | +€743 | +71.8% |
| Suppliers | 440/4 | €1,034 | €1,777 | +€743 | +71.8% |
| Taxes, remuneration and social security | 45 | €17,684 | €89,712 | +€72,028 | +407% |
| Taxes | 450/3 | €15,554 | €53,942 | +€38,387 | +247% |
| Remuneration and social security | 454/9 | €2,130 | €35,770 | +€33,641 | +1,580% |
| Other amounts payable | 47/48 | €4,913 | €6,436 | +€1,523 | +31.0% |
| Accrued charges and deferred income | 492/3 | - | €10,412 | +€10,412 | |
| Turnover | 70 | €122,209 | €130,260 | +€8,051 | +6.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €79,058 | €143,929 | +€64,871 | +82.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,406 | €4,277 | +€1,871 | +77.8% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Non-recurring operating charges | 66A | - | €2,829 | +€2,829 | |
| Gross operating margin | 9900 | €48,023 | -€9,544 | -€57,567 | |
| Operating profit (loss) | 9901 | €45,618 | -€17,050 | -€62,667 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €671 | €2,418 | +€1,747 | +260% |
| Recurring financial charges | 65 | €671 | €2,418 | +€1,747 | +260% |
| Profit (loss) for the period before taxes | 9903 | €44,949 | -€19,467 | -€64,416 | |
| Income taxes | 67/77 | €9,611 | €132 | -€9,479 | -98.6% |
| Profit (loss) for the period | 9904 | €35,337 | -€19,599 | -€54,937 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,337 | -€19,599 | -€54,937 |
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 16 October 2026 via checked.be.