ARGOS BENELUX: 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.
ARGOS BENELUX
Largest movements
- Receivables within one year +€336,373
up €336,373 (+37.0%), from €909,461 to €1.2m
of which Other amounts receivable: +€243,450
- Cash +€250,014
up €250,014 (+277%), from €90,329 to €340,343
mainly Other debts (+€327,046) and Net result for the year (+€227,880)
- Other debts +€327,046
up €327,046 (+60.0%), from €545,092 to €872,138
- Trade debts +€157,193
up €157,193 (+83.6%), from €188,043 to €345,236
- Profit (loss) carried forward +€127,880
up €127,880 (+70.0%), from €182,574 to €310,454
- Accrued charges and deferred income -€88,304
down €88,304 (-46.3%), from €190,804 to €102,500
- Tax, wage and social debts +€52,403
up €52,403 (+157%), from €33,421 to €85,823
of which Taxes: +€44,090
- Gross operating margin +€354,297
up €354,297 (+47.8%), from €741,648 to €1.1m
- Staff costs +€129,039
up €129,039 (+20.4%), from €631,363 to €760,402
- Taxes +€36,446
up €36,446 (+166%), from €21,952 to €58,398
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 | €1,161,935 | €1,738,152 | +€576,217 | +49.6% |
| Fixed assets | 21/28 | €118,928 | €111,200 | -€7,727 | -6.5% |
| Tangible fixed assets | 22/27 | €77,034 | €69,307 | -€7,727 | -10.0% |
| Plant, machinery and equipment | 23 | €30,790 | €29,164 | -€1,626 | -5.3% |
| Furniture and vehicles | 24 | €21,188 | €15,087 | -€6,101 | -28.8% |
| Other tangible fixed assets | 26 | €25,057 | €25,057 | = | 0.0% |
| Financial fixed assets | 28 | €41,893 | €41,893 | = | 0.0% |
| Current assets | 29/58 | €1,043,007 | €1,626,952 | +€583,945 | +56.0% |
| Amounts receivable within one year | 40/41 | €909,461 | €1,245,834 | +€336,373 | +37.0% |
| Trade receivables | 40 | €234,377 | €327,301 | +€92,924 | +39.6% |
| Other amounts receivable | 41 | €675,084 | €918,533 | +€243,450 | +36.1% |
| Cash at bank and in hand | 54/58 | €90,329 | €340,343 | +€250,014 | +277% |
| Deferred charges and accrued income | 490/1 | €43,218 | €40,774 | -€2,443 | -5.7% |
| Total equity and liabilities | 10/49 | €1,161,935 | €1,738,152 | +€576,217 | +49.6% |
| Equity | 10/15 | €204,574 | €332,454 | +€127,880 | +62.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €182,574 | €310,454 | +€127,880 | +70.0% |
| Amounts payable | 17/49 | €957,360 | €1,405,698 | +€448,337 | +46.8% |
| Amounts payable within one year | 42/48 | €766,556 | €1,303,198 | +€536,642 | +70.0% |
| Trade debts | 44 | €188,043 | €345,236 | +€157,193 | +83.6% |
| Suppliers | 440/4 | €188,043 | €345,236 | +€157,193 | +83.6% |
| Taxes, remuneration and social security | 45 | €33,421 | €85,823 | +€52,403 | +157% |
| Taxes | 450/3 | - | €44,090 | +€44,090 | |
| Remuneration and social security | 454/9 | €33,421 | €41,734 | +€8,313 | +24.9% |
| Other amounts payable | 47/48 | €545,092 | €872,138 | +€327,046 | +60.0% |
| Accrued charges and deferred income | 492/3 | €190,804 | €102,500 | -€88,304 | -46.3% |
| Non-recurring operating income | 76A | - | €32,095 | +€32,095 | |
| Remuneration, social security and pensions | 62 | €631,363 | €760,402 | +€129,039 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,000 | €24,766 | +€767 | +3.2% |
| Other operating charges | 640/8 | €18,269 | €18,843 | +€574 | +3.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €741,648 | €1,095,945 | +€354,297 | +47.8% |
| Operating profit (loss) | 9901 | €68,016 | €291,934 | +€223,918 | +329% |
| Financial income | 75/76B | €17 | €0 | -€17 | -100% |
| Recurring financial income | 75 | €17 | €0 | -€17 | -100% |
| Financial charges | 65/66B | €4,789 | €5,656 | +€867 | +18.1% |
| Recurring financial charges | 65 | €4,789 | €5,656 | +€867 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €63,245 | €286,278 | +€223,034 | +353% |
| Income taxes | 67/77 | €21,952 | €58,398 | +€36,446 | +166% |
| Profit (loss) for the period | 9904 | €41,292 | €227,880 | +€186,587 | +452% |
| Profit (loss) for the period to be appropriated | 9905 | €41,292 | €227,880 | +€186,587 | +452% |
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 29 October 2026 via checked.be.