ARGON SELECTIE: what changed
Two fiscal 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 SELECTIE
Largest movements
- Receivables within one year -€14,250
down €14,250 (-56.0%), from €25,468 to €11,218
of which Trade receivables: -€12,941
- Cash -€10,483
down €10,483 (-4.7%), from €225,370 to €214,887
mainly Net result for the year (-€19,012) and Other debts (-€9,199)
- Profit (loss) carried forward -€19,012
down €19,012 (-53.0%), from €35,858 to €16,846
- Other debts -€9,199
down €9,199 (-97.1%), from €9,469 to €270
- Tax, wage and social debts +€4,327
new in 2025: €4,327
- Gross operating margin -€29,093
down €29,093, from €11,448 to -€17,645
- Depreciation -€551
down €551 (-44.1%), from €1,249 to €698
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.
Cash bridge derived
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 | €252,194 | €226,781 | -€25,413 | -10.1% |
| Fixed assets | 21/28 | €1,155 | €457 | -€698 | -60.4% |
| Tangible fixed assets | 22/27 | €1,155 | €457 | -€698 | -60.4% |
| Plant, machinery and equipment | 23 | €1,155 | €457 | -€698 | -60.4% |
| Current assets | 29/58 | €251,039 | €226,324 | -€24,715 | -9.8% |
| Amounts receivable within one year | 40/41 | €25,468 | €11,218 | -€14,250 | -56.0% |
| Trade receivables | 40 | €24,159 | €11,218 | -€12,941 | -53.6% |
| Other amounts receivable | 41 | €1,309 | - | -€1,309 | |
| Cash at bank and in hand | 54/58 | €225,370 | €214,887 | -€10,483 | -4.7% |
| Deferred charges and accrued income | 490/1 | €201 | €219 | +€18 | +9.0% |
| Total equity and liabilities | 10/49 | €252,194 | €226,781 | -€25,413 | -10.1% |
| Equity | 10/15 | €240,798 | €221,786 | -€19,012 | -7.9% |
| Contributions | 10/11 | €80,028 | €80,028 | = | 0.0% |
| Capital | 10 | €80,028 | €80,028 | = | 0.0% |
| Issued capital | 100 | €80,028 | €80,028 | = | 0.0% |
| Reserves | 13 | €124,912 | €124,912 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,003 | €8,003 | = | 0.0% |
| Legal reserve | 130 | €8,003 | €8,003 | = | 0.0% |
| Distributable reserves | 133 | €116,909 | €116,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,858 | €16,846 | -€19,012 | -53.0% |
| Amounts payable | 17/49 | €11,396 | €4,995 | -€6,401 | -56.2% |
| Amounts payable within one year | 42/48 | €11,396 | €4,995 | -€6,401 | -56.2% |
| Trade debts | 44 | €1,927 | €398 | -€1,529 | -79.3% |
| Suppliers | 440/4 | €1,927 | €398 | -€1,529 | -79.3% |
| Taxes, remuneration and social security | 45 | - | €4,327 | +€4,327 | |
| Taxes | 450/3 | - | €4,327 | +€4,327 | |
| Other amounts payable | 47/48 | €9,469 | €270 | -€9,199 | -97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,249 | €698 | -€551 | -44.1% |
| Other operating charges | 640/8 | €627 | €594 | -€33 | -5.3% |
| Gross operating margin | 9900 | €11,448 | -€17,645 | -€29,093 | |
| Operating profit (loss) | 9901 | €9,572 | -€18,937 | -€28,509 | |
| Financial income | 75/76B | €1 | €14 | +€13 | +1300.0% |
| Recurring financial income | 75 | €1 | €14 | +€13 | +1300.0% |
| Financial charges | 65/66B | €104 | €89 | -€15 | -14.4% |
| Recurring financial charges | 65 | €104 | €89 | -€15 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €9,469 | -€19,012 | -€28,481 | |
| Profit (loss) for the period | 9904 | €9,469 | -€19,012 | -€28,481 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,469 | -€19,012 | -€28,481 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.