ARGOS EXPERTISE: 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 EXPERTISE
Largest movements
- Receivables within one year +€59,115
up €59,115 (+73.5%), from €80,476 to €139,591
of which Other amounts receivable: +€59,886
- Cash -€12,778
down €12,778 (-33.9%), from €37,714 to €24,937
mainly Receivables within one year (-€59,115) and Deferred charges and accrued income (-€1,430)
- Tax, wage and social debts +€26,978
up €26,978 (+63.7%), from €42,343 to €69,321
- Profit (loss) carried forward +€16,745
up €16,745 (+26.1%), from €64,087 to €80,831
- Trade debts +€5,199
up €5,199 (+140%), from €3,720 to €8,919
- Gross operating margin +€14,906
up €14,906 (+118%), from €12,625 to €27,531
- Taxes -€10,047
down €10,047 (-54.8%), from €18,346 to €8,299
- Other operating charges +€3,592
up €3,592 (+185%), from €1,939 to €5,531
- Financial income +€1,893
up €1,893 (+63.7%), from €2,972 to €4,865
- Depreciation -€769
down €769 (-45.3%), from €1,697 to €928
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 | €121,779 | €169,734 | +€47,955 | +39.4% |
| Fixed assets | 21/28 | €2,841 | €3,029 | +€188 | +6.6% |
| Tangible fixed assets | 22/27 | €2,841 | €3,029 | +€188 | +6.6% |
| Plant, machinery and equipment | 23 | €1,984 | €1,723 | -€261 | -13.2% |
| Furniture and vehicles | 24 | €857 | €1,306 | +€449 | +52.3% |
| Current assets | 29/58 | €118,938 | €166,705 | +€47,767 | +40.2% |
| Amounts receivable within one year | 40/41 | €80,476 | €139,591 | +€59,115 | +73.5% |
| Trade receivables | 40 | €13,185 | €12,414 | -€771 | -5.8% |
| Other amounts receivable | 41 | €67,291 | €127,177 | +€59,886 | +89.0% |
| Cash at bank and in hand | 54/58 | €37,714 | €24,937 | -€12,778 | -33.9% |
| Deferred charges and accrued income | 490/1 | €748 | €2,177 | +€1,430 | +191% |
| Total equity and liabilities | 10/49 | €121,779 | €169,734 | +€47,955 | +39.4% |
| Equity | 10/15 | €73,807 | €90,551 | +€16,745 | +22.7% |
| Contributions | 10/11 | €7,860 | €7,860 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,087 | €80,831 | +€16,745 | +26.1% |
| Amounts payable | 17/49 | €47,972 | €79,183 | +€31,210 | +65.1% |
| Amounts payable within one year | 42/48 | €47,972 | €79,183 | +€31,210 | +65.1% |
| Financial debts | 43 | €1,910 | €943 | -€967 | -50.6% |
| Credit institutions | 430/8 | €1,910 | €943 | -€967 | -50.6% |
| Trade debts | 44 | €3,720 | €8,919 | +€5,199 | +140% |
| Suppliers | 440/4 | €3,720 | €8,919 | +€5,199 | +140% |
| Taxes, remuneration and social security | 45 | €42,343 | €69,321 | +€26,978 | +63.7% |
| Taxes | 450/3 | €42,343 | €69,321 | +€26,978 | +63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,697 | €928 | -€769 | -45.3% |
| Other operating charges | 640/8 | €1,939 | €5,531 | +€3,592 | +185% |
| Gross operating margin | 9900 | €12,625 | €27,531 | +€14,906 | +118% |
| Operating profit (loss) | 9901 | €8,989 | €21,071 | +€12,082 | +134% |
| Financial income | 75/76B | €2,972 | €4,865 | +€1,893 | +63.7% |
| Recurring financial income | 75 | €2,972 | €4,865 | +€1,893 | +63.7% |
| Financial charges | 65/66B | €315 | €893 | +€578 | +184% |
| Recurring financial charges | 65 | €315 | €893 | +€578 | +184% |
| Profit (loss) for the period before taxes | 9903 | €11,647 | €25,043 | +€13,397 | +115% |
| Income taxes | 67/77 | €18,346 | €8,299 | -€10,047 | -54.8% |
| Profit (loss) for the period | 9904 | -€6,699 | €16,745 | +€23,444 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,699 | €16,745 | +€23,444 |
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 15 October 2026 via checked.be.