ARGON: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
What changed
ARGON
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€117,138
2024 · €112,646+€4,492
Equity
€1.6m
2024 · €1.5m+€117,138
Cash
-
not filed
Balance sheet total
€5.5m
2024 · €5.9m-€349,964
Largest movements
Assets
- Tangible fixed assets -€338,248
down €338,248 (-6.1%), from €5.5m to €5.2m
of which Land and buildings: -€299,588
Equity and liabilities
- Debts after one year -€500,000
down €500,000 (-12.5%), from €4.0m to €3.5m
- Profit (loss) carried forward +€124,364
up €124,364 (+18.3%), from €678,335 to €802,700
Income statement
- Gross operating margin -€92,653
down €92,653 (-11.3%), from €820,194 to €727,541
- Financial charges -€75,363
down €75,363 (-35.4%), from €212,862 to €137,499
- Staff costs -€13,673
down €13,673 (-16.4%), from €83,205 to €69,532
- Depreciation -€8,391
down €8,391 (-2.4%), from €346,639 to €338,248
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.
Result 2024
€112,646
Gross operating margin
-€92,653
Staff costs
+€13,673
Depreciation
+€8,391
Other operating charges
-€386
Financial income
+€1,577
Financial charges
+€75,363
Taxes
-€1,318
Deferred taxes and other
-€155
Result 2025
€117,138
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,874,556 | €5,524,592 | -€349,964 | -6.0% |
| Fixed assets | 21/28 | €5,512,959 | €5,174,711 | -€338,248 | -6.1% |
| Tangible fixed assets | 22/27 | €5,512,959 | €5,174,711 | -€338,248 | -6.1% |
| Land and buildings | 22 | €5,224,675 | €4,925,087 | -€299,588 | -5.7% |
| Plant, machinery and equipment | 23 | €17,339 | €15,827 | -€1,512 | -8.7% |
| Furniture and vehicles | 24 | €270,946 | €233,798 | -€37,148 | -13.7% |
| Current assets | 29/58 | €361,597 | €349,881 | -€11,716 | -3.2% |
| Amounts receivable within one year | 40/41 | €361,371 | €346,469 | -€14,902 | -4.1% |
| Trade receivables | 40 | €361,371 | €308,407 | -€52,963 | -14.7% |
| Other amounts receivable | 41 | - | €38,061 | +€38,061 | |
| Deferred charges and accrued income | 490/1 | €226 | €3,412 | +€3,186 | +1,410% |
| Total equity and liabilities | 10/49 | €5,874,556 | €5,524,592 | -€349,964 | -6.0% |
| Equity | 10/15 | €1,466,932 | €1,584,070 | +€117,138 | +8.0% |
| Contributions | 10/11 | €313,603 | €313,603 | = | 0.0% |
| Reserves | 13 | €474,993 | €467,767 | -€7,226 | -1.5% |
| Non-distributable reserves | 130/1 | €46,888 | €46,888 | = | 0.0% |
| Reserves not available under the articles | 1311 | €46,888 | €46,888 | = | 0.0% |
| Tax-exempt reserves | 132 | €168,049 | €160,823 | -€7,226 | -4.3% |
| Distributable reserves | 133 | €260,056 | €260,056 | = | 0.0% |
| Profit (loss) carried forward | 14 | €678,335 | €802,700 | +€124,364 | +18.3% |
| Provisions and deferred taxes | 16 | €39,747 | €37,338 | -€2,409 | -6.1% |
| Deferred taxes | 168 | €39,747 | €37,338 | -€2,409 | -6.1% |
| Amounts payable | 17/49 | €4,367,877 | €3,903,184 | -€464,694 | -10.6% |
| Amounts payable after more than one year | 17 | €4,000,000 | €3,500,000 | -€500,000 | -12.5% |
| Financial debts | 170/4 | €4,000,000 | €3,500,000 | -€500,000 | -12.5% |
| Amounts payable within one year | 42/48 | €367,877 | €403,184 | +€35,306 | +9.6% |
| Trade debts | 44 | €49,721 | €44,838 | -€4,884 | -9.8% |
| Suppliers | 440/4 | €49,721 | €44,838 | -€4,884 | -9.8% |
| Taxes, remuneration and social security | 45 | €63,057 | €57,172 | -€5,885 | -9.3% |
| Taxes | 450/3 | €60,782 | €52,783 | -€7,999 | -13.2% |
| Remuneration and social security | 454/9 | €2,275 | €4,389 | +€2,114 | +92.9% |
| Other amounts payable | 47/48 | €255,099 | €301,173 | +€46,075 | +18.1% |
| Remuneration, social security and pensions | 62 | €83,205 | €69,532 | -€13,673 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €346,639 | €338,248 | -€8,391 | -2.4% |
| Other operating charges | 640/8 | €26,872 | €27,257 | +€386 | +1.4% |
| Gross operating margin | 9900 | €820,194 | €727,541 | -€92,653 | -11.3% |
| Operating profit (loss) | 9901 | €363,478 | €292,504 | -€70,974 | -19.5% |
| Financial income | 75/76B | €87 | €1,663 | +€1,577 | +1,821% |
| Recurring financial income | 75 | €87 | €1,663 | +€1,577 | +1,821% |
| Financial charges | 65/66B | €212,862 | €137,499 | -€75,363 | -35.4% |
| Recurring financial charges | 65 | €212,862 | €137,499 | -€75,363 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €150,703 | €156,668 | +€5,966 | +4.0% |
| Transfer from deferred taxes | 780 | €2,564 | €2,409 | -€155 | -6.1% |
| Income taxes | 67/77 | €40,620 | €41,939 | +€1,318 | +3.2% |
| Profit (loss) for the period | 9904 | €112,646 | €117,138 | +€4,492 | +4.0% |
| Transfer from tax-exempt reserves | 789 | €7,692 | €7,226 | -€466 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €120,339 | €124,364 | +€4,026 | +3.3% |
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 1 November 2026 via checked.be.