ARGRAS: 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.
ARGRAS
Largest movements
- Cash +€88,371
up €88,371 (+103%), from €85,419 to €173,790
mainly Net result for the year (+€85,351) and Tax, wage and social debts (+€16,199)
- Receivables within one year -€8,168
down €8,168 (-16.4%), from €49,899 to €41,731
of which Trade receivables: -€15,316
- Tangible fixed assets -€3,436
down €3,436 (-33.1%), from €10,366 to €6,930
- Reserves +€85,351
up €85,351 (+88.4%), from €96,572 to €181,923
of which Distributable reserves: +€85,996
- Contributions -€25,000
no longer reported in 2025 (was €25,000)
- Tax, wage and social debts +€16,199
up €16,199 (+80.8%), from €20,045 to €36,244
- Purchases and services +€7,669
up €7,669 (+14.2%), from €53,952 to €61,621
- Turnover +€6,554
up €6,554 (+3.6%), from €179,896 to €186,450
- Taxes -€4,324
down €4,324 (-10.9%), from €39,535 to €35,211
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 | €146,163 | €222,731 | +€76,568 | +52.4% |
| Fixed assets | 21/28 | €10,391 | €6,955 | -€3,436 | -33.1% |
| Tangible fixed assets | 22/27 | €10,366 | €6,930 | -€3,436 | -33.1% |
| Furniture and vehicles | 24 | €10,366 | €6,930 | -€3,436 | -33.1% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €135,772 | €215,776 | +€80,004 | +58.9% |
| Amounts receivable within one year | 40/41 | €49,899 | €41,731 | -€8,168 | -16.4% |
| Trade receivables | 40 | €49,247 | €33,931 | -€15,316 | -31.1% |
| Other amounts receivable | 41 | €652 | €7,800 | +€7,148 | +1,096% |
| Cash at bank and in hand | 54/58 | €85,419 | €173,790 | +€88,371 | +103% |
| Deferred charges and accrued income | 490/1 | €454 | €255 | -€199 | -43.8% |
| Total equity and liabilities | 10/49 | €146,163 | €222,731 | +€76,568 | +52.4% |
| Equity | 10/15 | €121,572 | €181,923 | +€60,351 | +49.6% |
| Contributions | 10/11 | €25,000 | - | -€25,000 | |
| Reserves | 13 | €96,572 | €181,923 | +€85,351 | +88.4% |
| Tax-exempt reserves | 132 | €1,969 | €1,324 | -€645 | -32.8% |
| Distributable reserves | 133 | €94,603 | €180,599 | +€85,996 | +90.9% |
| Provisions and deferred taxes | 16 | €1,314 | €885 | -€429 | -32.6% |
| Deferred taxes | 168 | €1,314 | €885 | -€429 | -32.6% |
| Amounts payable | 17/49 | €23,277 | €39,923 | +€16,646 | +71.5% |
| Amounts payable within one year | 42/48 | €23,277 | €39,923 | +€16,646 | +71.5% |
| Trade debts | 44 | €1,757 | €2,236 | +€479 | +27.3% |
| Suppliers | 440/4 | €1,757 | €2,236 | +€479 | +27.3% |
| Taxes, remuneration and social security | 45 | €20,045 | €36,244 | +€16,199 | +80.8% |
| Taxes | 450/3 | €20,045 | €36,244 | +€16,199 | +80.8% |
| Other amounts payable | 47/48 | €1,475 | €1,443 | -€32 | -2.2% |
| Turnover | 70 | €179,896 | €186,450 | +€6,554 | +3.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €53,952 | €61,621 | +€7,669 | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,626 | €3,437 | -€189 | -5.2% |
| Other operating charges | 640/8 | €1,635 | €1,217 | -€418 | -25.6% |
| Gross operating margin | 9900 | €125,944 | €124,829 | -€1,115 | -0.9% |
| Operating profit (loss) | 9901 | €120,683 | €120,175 | -€508 | -0.4% |
| Financial charges | 65/66B | €105 | €42 | -€63 | -60.0% |
| Recurring financial charges | 65 | €105 | €42 | -€63 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | €120,578 | €120,133 | -€445 | -0.4% |
| Transfer from deferred taxes | 780 | €429 | €429 | = | 0.0% |
| Income taxes | 67/77 | €39,535 | €35,211 | -€4,324 | -10.9% |
| Profit (loss) for the period | 9904 | €81,472 | €85,351 | +€3,879 | +4.8% |
| Transfer from tax-exempt reserves | 789 | €645 | €645 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €82,117 | €85,996 | +€3,879 | +4.7% |
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 14 October 2026 via checked.be.