Argon AV: 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.
Argon AV
Largest movements
- Tangible fixed assets -€169,846
down €169,846 (-19.9%), from €855,398 to €685,552
of which Plant, machinery and equipment: -€123,147
- Receivables within one year +€27,663
up €27,663 (+76.2%), from €36,326 to €63,990
of which Trade receivables: +€18,588
- Cash -€10,356
down €10,356 (-16.5%), from €62,685 to €52,329
mainly Debts after one year (-€249,864) and Net result for the year (-€73,111)
- Debts after one year -€249,864
down €249,864 (-39.8%), from €628,244 to €378,379
of which Financial debts: -€211,651
- Contributions +€121,212
up €121,212 (+107%), from €113,550 to €234,762
- Profit (loss) carried forward -€73,111
down €73,111 (-43.1%), from -€169,460 to -€242,571
- Trade debts +€50,614
up €50,614 (+80.5%), from €62,860 to €113,474
- Other debts -€12,097
down €12,097 (-82.8%), from €14,613 to €2,515
- Gross operating margin +€185,815
up €185,815 (+61.1%), from €304,334 to €490,149
- Staff costs +€42,885
up €42,885 (+16.6%), from €257,881 to €300,766
- Depreciation +€17,618
up €17,618 (+8.3%), from €213,506 to €231,124
- Financial charges -€11,811
down €11,811 (-29.3%), from €40,357 to €28,546
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 | €967,863 | €812,943 | -€154,920 | -16.0% |
| Fixed assets | 21/28 | €863,083 | €696,128 | -€166,956 | -19.3% |
| Intangible fixed assets | 21 | - | €2,890 | +€2,890 | |
| Tangible fixed assets | 22/27 | €855,398 | €685,552 | -€169,846 | -19.9% |
| Plant, machinery and equipment | 23 | €670,155 | €547,007 | -€123,147 | -18.4% |
| Furniture and vehicles | 24 | €95,701 | €74,061 | -€21,640 | -22.6% |
| Leasing and similar rights | 25 | €89,542 | €64,484 | -€25,058 | -28.0% |
| Financial fixed assets | 28 | €7,685 | €7,685 | = | 0.0% |
| Current assets | 29/58 | €104,779 | €116,815 | +€12,036 | +11.5% |
| Amounts receivable within one year | 40/41 | €36,326 | €63,990 | +€27,663 | +76.2% |
| Trade receivables | 40 | €36,326 | €54,914 | +€18,588 | +51.2% |
| Other amounts receivable | 41 | - | €9,076 | +€9,076 | |
| Cash at bank and in hand | 54/58 | €62,685 | €52,329 | -€10,356 | -16.5% |
| Deferred charges and accrued income | 490/1 | €5,768 | €496 | -€5,272 | -91.4% |
| Total equity and liabilities | 10/49 | €967,863 | €812,943 | -€154,920 | -16.0% |
| Equity | 10/15 | -€55,910 | -€7,809 | +€48,101 | +86.0% |
| Contributions | 10/11 | €113,550 | €234,762 | +€121,212 | +107% |
| Profit (loss) carried forward | 14 | -€169,460 | -€242,571 | -€73,111 | -43.1% |
| Amounts payable | 17/49 | €1,023,773 | €820,752 | -€203,021 | -19.8% |
| Amounts payable after more than one year | 17 | €628,244 | €378,379 | -€249,864 | -39.8% |
| Financial debts | 170/4 | €578,244 | €366,592 | -€211,651 | -36.6% |
| Other amounts payable | 178/9 | €50,000 | €11,787 | -€38,213 | -76.4% |
| Amounts payable within one year | 42/48 | €395,529 | €435,869 | +€40,340 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €214,637 | €214,000 | -€636 | -0.3% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €62,860 | €113,474 | +€50,614 | +80.5% |
| Suppliers | 440/4 | €62,860 | €113,474 | +€50,614 | +80.5% |
| Taxes, remuneration and social security | 45 | €53,420 | €55,879 | +€2,459 | +4.6% |
| Taxes | 450/3 | €11,982 | €6,913 | -€5,068 | -42.3% |
| Remuneration and social security | 454/9 | €41,438 | €48,966 | +€7,527 | +18.2% |
| Other amounts payable | 47/48 | €14,613 | €2,515 | -€12,097 | -82.8% |
| Accrued charges and deferred income | 492/3 | - | €6,504 | +€6,504 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €257,881 | €300,766 | +€42,885 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,506 | €231,124 | +€17,618 | +8.3% |
| Other operating charges | 640/8 | €3,317 | €4,140 | +€822 | +24.8% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €304,334 | €490,149 | +€185,815 | +61.1% |
| Operating profit (loss) | 9901 | -€170,370 | -€45,880 | +€124,490 | +73.1% |
| Financial income | 75/76B | €2,745 | €2,430 | -€315 | -11.5% |
| Recurring financial income | 75 | €2,745 | €2,430 | -€315 | -11.5% |
| Financial charges | 65/66B | €40,357 | €28,546 | -€11,811 | -29.3% |
| Recurring financial charges | 65 | €40,357 | €28,546 | -€11,811 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | -€207,982 | -€71,997 | +€135,985 | +65.4% |
| Income taxes | 67/77 | €463 | €1,114 | +€651 | +141% |
| Profit (loss) for the period | 9904 | -€208,445 | -€73,111 | +€135,334 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€208,445 | -€73,111 | +€135,334 | +64.9% |
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.