ARGON INVEST: 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 INVEST
Largest movements
- Stocks and contracts -€39,200
no longer reported in 2025 (was €39,200)
- Cash +€34,597
up €34,597 (+37.5%), from €92,369 to €126,965
mainly Stocks and contracts (+€39,200) and Net result for the year (+€30,573)
- Receivables within one year +€29,559
up €29,559 (+365%), from €8,109 to €37,668
of which Trade receivables: +€33,767
- Current investments +€18,346
up €18,346 (+1.8%), from €1.0m to €1.0m
- Reserves +€30,573
up €30,573 (+2.5%), from €1.2m to €1.3m
of which Distributable reserves: +€30,573
- Financial charges -€52,450
down €52,450 (-70.8%), from €74,125 to €21,675
- Financial income +€25,890
up €25,890 (+93.2%), from €27,782 to €53,672
- Write-downs -€16,327
new in 2025: -€16,327
- Gross operating margin +€13,179
up €13,179, from -€5,069 to €8,109
- Taxes +€8,950
up €8,950 (+128%), from €7,014 to €15,964
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 | €1,164,446 | €1,204,695 | +€40,249 | +3.5% |
| Fixed assets | 21/28 | €7,267 | €5,800 | -€1,467 | -20.2% |
| Tangible fixed assets | 22/27 | €7,260 | €5,800 | -€1,460 | -20.1% |
| Other tangible fixed assets | 26 | €7,260 | €5,800 | -€1,460 | -20.1% |
| Financial fixed assets | 28 | €7 | - | -€7 | |
| Current assets | 29/58 | €1,157,179 | €1,198,895 | +€41,716 | +3.6% |
| Stocks and contracts in progress | 3 | €39,200 | - | -€39,200 | |
| Stocks | 30/36 | €39,200 | - | -€39,200 | |
| Amounts receivable within one year | 40/41 | €8,109 | €37,668 | +€29,559 | +365% |
| Trade receivables | 40 | €3,423 | €37,190 | +€33,767 | +987% |
| Other amounts receivable | 41 | €4,686 | €478 | -€4,208 | -89.8% |
| Current investments | 50/53 | €1,014,055 | €1,032,401 | +€18,346 | +1.8% |
| Cash at bank and in hand | 54/58 | €92,369 | €126,965 | +€34,597 | +37.5% |
| Deferred charges and accrued income | 490/1 | €3,447 | €1,861 | -€1,586 | -46.0% |
| Total equity and liabilities | 10/49 | €1,164,446 | €1,204,695 | +€40,249 | +3.5% |
| Equity | 10/15 | €1,115,692 | €1,146,265 | +€30,573 | +2.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,229,782 | €1,260,355 | +€30,573 | +2.5% |
| Tax-exempt reserves | 132 | €371 | €371 | = | 0.0% |
| Distributable reserves | 133 | €1,229,411 | €1,259,984 | +€30,573 | +2.5% |
| Profit (loss) carried forward | 14 | -€132,682 | -€132,682 | = | 0.0% |
| Amounts payable | 17/49 | €48,754 | €58,430 | +€9,676 | +19.8% |
| Amounts payable within one year | 42/48 | €46,330 | €55,280 | +€8,950 | +19.3% |
| Trade debts | 44 | €346 | €915 | +€569 | +164% |
| Suppliers | 440/4 | €346 | €915 | +€569 | +164% |
| Taxes, remuneration and social security | 45 | - | €4,181 | +€4,181 | |
| Taxes | 450/3 | - | €4,181 | +€4,181 | |
| Other amounts payable | 47/48 | €45,984 | €50,184 | +€4,200 | +9.1% |
| Accrued charges and deferred income | 492/3 | €2,424 | €3,150 | +€726 | +30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €881 | €1,460 | +€578 | +65.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€16,327 | -€16,327 | |
| Other operating charges | 640/8 | €5,742 | €8,436 | +€2,694 | +46.9% |
| Gross operating margin | 9900 | -€5,069 | €8,109 | +€13,179 | |
| Operating profit (loss) | 9901 | -€11,693 | €14,540 | +€26,233 | |
| Financial income | 75/76B | €27,782 | €53,672 | +€25,890 | +93.2% |
| Recurring financial income | 75 | €27,782 | €53,672 | +€25,890 | +93.2% |
| Financial charges | 65/66B | €74,125 | €21,675 | -€52,450 | -70.8% |
| Recurring financial charges | 65 | €74,125 | €21,675 | -€52,450 | -70.8% |
| Profit (loss) for the period before taxes | 9903 | -€58,036 | €46,537 | +€104,574 | |
| Income taxes | 67/77 | €7,014 | €15,964 | +€8,950 | +128% |
| Profit (loss) for the period | 9904 | -€65,051 | €30,573 | +€95,624 | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,051 | €30,573 | +€95,624 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.