ARGUS 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.
ARGUS INVEST
Largest movements
- Tangible fixed assets -€52,019
down €52,019 (-5.4%), from €970,268 to €918,249
of which Land and buildings: -€52,019
- Other debts -€54,352
down €54,352 (-36.2%), from €150,341 to €95,990
- Profit (loss) carried forward +€20,340
up €20,340 (+5.3%), from €382,891 to €403,231
- Gross operating margin +€3,972
up €3,972 (+6.5%), from €61,451 to €65,422
- Other operating charges -€2,059
down €2,059 (-38.7%), from €5,322 to €3,262
- Financial charges +€859
up €859 (+1,004%), from €86 to €945
- Depreciation +€781
up €781 (+1.5%), from €51,238 to €52,019
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 | €972,585 | €926,397 | -€46,188 | -4.7% |
| Fixed assets | 21/28 | €970,268 | €918,249 | -€52,019 | -5.4% |
| Tangible fixed assets | 22/27 | €970,268 | €918,249 | -€52,019 | -5.4% |
| Land and buildings | 22 | €960,445 | €908,425 | -€52,019 | -5.4% |
| Furniture and vehicles | 24 | €8,294 | €8,294 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,530 | €1,530 | = | 0.0% |
| Current assets | 29/58 | €2,317 | €8,148 | +€5,832 | +252% |
| Cash at bank and in hand | 54/58 | €2,317 | €8,148 | +€5,832 | +252% |
| Total equity and liabilities | 10/49 | €972,585 | €926,397 | -€46,188 | -4.7% |
| Equity | 10/15 | €554,198 | €571,306 | +€17,108 | +3.1% |
| Contributions | 10/11 | €62,221 | €62,221 | = | 0.0% |
| Capital | 10 | €62,221 | €62,221 | = | 0.0% |
| Issued capital | 100 | €62,221 | €62,221 | = | 0.0% |
| Reserves | 13 | €109,085 | €105,853 | -€3,232 | -3.0% |
| Non-distributable reserves | 130/1 | €6,222 | €6,222 | = | 0.0% |
| Legal reserve | 130 | €6,222 | €6,222 | = | 0.0% |
| Tax-exempt reserves | 132 | €102,863 | €99,631 | -€3,232 | -3.1% |
| Profit (loss) carried forward | 14 | €382,891 | €403,231 | +€20,340 | +5.3% |
| Provisions and deferred taxes | 16 | €42,015 | €34,102 | -€7,913 | -18.8% |
| Deferred taxes | 168 | €42,015 | €34,102 | -€7,913 | -18.8% |
| Amounts payable | 17/49 | €376,373 | €320,990 | -€55,383 | -14.7% |
| Amounts payable after more than one year | 17 | €225,000 | €225,000 | = | 0.0% |
| Financial debts | 170/4 | €225,000 | €225,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €151,373 | €95,990 | -€55,383 | -36.6% |
| Trade debts | 44 | €968 | €0 | -€968 | -100% |
| Suppliers | 440/4 | €968 | €0 | -€968 | -100% |
| Taxes, remuneration and social security | 45 | €64 | €0 | -€64 | -100% |
| Taxes | 450/3 | €64 | €0 | -€64 | -100% |
| Other amounts payable | 47/48 | €150,341 | €95,990 | -€54,352 | -36.2% |
| Non-recurring operating income | 76A | €2,150 | €0 | -€2,150 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,238 | €52,019 | +€781 | +1.5% |
| Other operating charges | 640/8 | €5,322 | €3,262 | -€2,059 | -38.7% |
| Gross operating margin | 9900 | €61,451 | €65,422 | +€3,972 | +6.5% |
| Operating profit (loss) | 9901 | €4,891 | €10,140 | +€5,249 | +107% |
| Financial charges | 65/66B | €86 | €945 | +€859 | +1,004% |
| Recurring financial charges | 65 | €86 | €945 | +€859 | +1,004% |
| Profit (loss) for the period before taxes | 9903 | €4,805 | €9,195 | +€4,390 | +91.4% |
| Transfer from deferred taxes | 780 | €3,232 | €3,232 | = | 0.0% |
| Income taxes | 67/77 | €64 | €0 | -€64 | -100% |
| Profit (loss) for the period | 9904 | €7,973 | €12,427 | +€4,454 | +55.9% |
| Transfer from tax-exempt reserves | 789 | €7,913 | €7,913 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,886 | €20,340 | +€4,454 | +28.0% |
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 27 October 2026 via checked.be.