ARGO DIVING SERVICES: what changed
ARGO DIVING SERVICES
Largest movements
- Cash +€56,409
up €56,409 (+511%), from €11,044 to €67,453
mainly Net result for the year (+€80,536) and Depreciation (+€24,126)
- Receivables within one year +€29,165
up €29,165 (+58.3%), from €50,022 to €79,186
of which Trade receivables: +€18,591
- Tangible fixed assets +€17,709
up €17,709 (+23.4%), from €75,790 to €93,499
of which Plant, machinery and equipment: +€15,942
- Financial fixed assets +€2,750
new in 2025: €2,750
- Reserves +€79,703
up €79,703 (+1,647%), from €4,839 to €84,542
- Trade debts +€23,735
up €23,735 (+184%), from €12,912 to €36,647
- Debts after one year -€15,071
down €15,071 (-32.2%), from €46,811 to €31,740
- Tax, wage and social debts +€10,754
up €10,754 (+256%), from €4,198 to €14,952
- Other debts +€5,934
up €5,934 (+12.2%), from €48,798 to €54,732
- Gross operating margin +€112,354
up €112,354 (+499%), from €22,528 to €134,881
- Taxes +€21,595
up €21,595 (+2,062%), from €1,047 to €22,642
- Depreciation +€7,035
up €7,035 (+41.2%), from €17,091 to €24,126
- Other operating charges +€2,730
up €2,730 (+434%), from €629 to €3,360
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €139,704 | €245,415 | +€105,711 | +75.7% |
| Fixed assets | 21/28 | €75,790 | €96,249 | +€20,459 | +27.0% |
| Tangible fixed assets | 22/27 | €75,790 | €93,499 | +€17,709 | +23.4% |
| Plant, machinery and equipment | 23 | €47,371 | €63,312 | +€15,942 | +33.7% |
| Furniture and vehicles | 24 | €28,419 | €30,186 | +€1,767 | +6.2% |
| Financial fixed assets | 28 | - | €2,750 | +€2,750 | |
| Current assets | 29/58 | €63,914 | €149,166 | +€85,252 | +133% |
| Amounts receivable within one year | 40/41 | €50,022 | €79,186 | +€29,165 | +58.3% |
| Trade receivables | 40 | €46,667 | €65,258 | +€18,591 | +39.8% |
| Other amounts receivable | 41 | €3,355 | €13,929 | +€10,574 | +315% |
| Cash at bank and in hand | 54/58 | €11,044 | €67,453 | +€56,409 | +511% |
| Deferred charges and accrued income | 490/1 | €2,848 | €2,527 | -€321 | -11.3% |
| Total equity and liabilities | 10/49 | €139,704 | €245,415 | +€105,711 | +75.7% |
| Equity | 10/15 | €14,839 | €94,542 | +€79,703 | +537% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €4,839 | €84,542 | +€79,703 | +1,647% |
| Distributable reserves | 133 | €4,839 | €84,542 | +€79,703 | +1,647% |
| Amounts payable | 17/49 | €124,865 | €150,873 | +€26,008 | +20.8% |
| Amounts payable after more than one year | 17 | €46,811 | €31,740 | -€15,071 | -32.2% |
| Financial debts | 170/4 | €46,811 | €31,740 | -€15,071 | -32.2% |
| Amounts payable within one year | 42/48 | €78,054 | €119,133 | +€41,078 | +52.6% |
| Current portion of amounts payable after more than one year | 42 | €12,147 | €12,802 | +€655 | +5.4% |
| Trade debts | 44 | €12,912 | €36,647 | +€23,735 | +184% |
| Suppliers | 440/4 | €12,912 | €36,647 | +€23,735 | +184% |
| Taxes, remuneration and social security | 45 | €4,198 | €14,952 | +€10,754 | +256% |
| Taxes | 450/3 | €4,198 | €14,952 | +€10,754 | +256% |
| Other amounts payable | 47/48 | €48,798 | €54,732 | +€5,934 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,091 | €24,126 | +€7,035 | +41.2% |
| Other operating charges | 640/8 | €629 | €3,360 | +€2,730 | +434% |
| Gross operating margin | 9900 | €22,528 | €134,881 | +€112,354 | +499% |
| Operating profit (loss) | 9901 | €4,807 | €107,395 | +€102,588 | +2,134% |
| Financial income | 75/76B | €447 | €133 | -€314 | -70.3% |
| Recurring financial income | 75 | €447 | €133 | -€314 | -70.3% |
| Financial charges | 65/66B | €3,188 | €4,350 | +€1,162 | +36.4% |
| Recurring financial charges | 65 | €3,188 | €4,350 | +€1,162 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €2,066 | €103,178 | +€101,113 | +4,895% |
| Income taxes | 67/77 | €1,047 | €22,642 | +€21,595 | +2,062% |
| Profit (loss) for the period | 9904 | €1,018 | €80,536 | +€79,518 | +7,809% |
| Profit (loss) for the period to be appropriated | 9905 | €1,018 | €80,536 | +€79,518 | +7,809% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.