ARGUS PROJECTS: 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 PROJECTS
Largest movements
- Cash -€39,365
down €39,365 (-91.5%), from €43,008 to €3,643
mainly Current investments (-€35,203) and Net result for the year (-€9,557)
- Current investments +€35,203
new in 2025: €35,203
- Reserves -€9,557
down €9,557 (-10.2%), from €94,042 to €84,485
- Other debts +€5,766
up €5,766 (+3.8%), from €151,360 to €157,126
- Gross operating margin -€11,734
down €11,734, from €2,520 to -€9,214
- Financial income -€2,000
down €2,000 (-90.8%), from €2,203 to €203
- Taxes -€134
no longer reported in 2025 (was €134)
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 | €327,675 | €323,451 | -€4,224 | -1.3% |
| Current assets | 29/58 | €327,675 | €323,451 | -€4,224 | -1.3% |
| Stocks and contracts in progress | 3 | €284,604 | €284,604 | = | 0.0% |
| Stocks | 30/36 | €284,604 | €284,604 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €63 | - | -€63 | |
| Other amounts receivable | 41 | €63 | - | -€63 | |
| Current investments | 50/53 | - | €35,203 | +€35,203 | |
| Cash at bank and in hand | 54/58 | €43,008 | €3,643 | -€39,365 | -91.5% |
| Total equity and liabilities | 10/49 | €327,675 | €323,451 | -€4,224 | -1.3% |
| Equity | 10/15 | €174,042 | €164,485 | -€9,557 | -5.5% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €94,042 | €84,485 | -€9,557 | -10.2% |
| Distributable reserves | 133 | €94,042 | €84,485 | -€9,557 | -10.2% |
| Amounts payable | 17/49 | €153,633 | €158,966 | +€5,333 | +3.5% |
| Amounts payable within one year | 42/48 | €153,633 | €158,966 | +€5,333 | +3.5% |
| Trade debts | 44 | €2,139 | €1,840 | -€299 | -14.0% |
| Suppliers | 440/4 | €2,139 | €1,840 | -€299 | -14.0% |
| Taxes, remuneration and social security | 45 | €134 | - | -€134 | |
| Taxes | 450/3 | €134 | - | -€134 | |
| Other amounts payable | 47/48 | €151,360 | €157,126 | +€5,766 | +3.8% |
| Other operating charges | 640/8 | €552 | €507 | -€45 | -8.2% |
| Gross operating margin | 9900 | €2,520 | -€9,214 | -€11,734 | |
| Operating profit (loss) | 9901 | €1,967 | -€9,721 | -€11,689 | |
| Financial income | 75/76B | €2,203 | €203 | -€2,000 | -90.8% |
| Recurring financial income | 75 | €2,203 | €203 | -€2,000 | -90.8% |
| Financial charges | 65/66B | €35 | €39 | +€4 | +12.0% |
| Recurring financial charges | 65 | €35 | €39 | +€4 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €4,135 | -€9,557 | -€13,693 | |
| Income taxes | 67/77 | €134 | - | -€134 | |
| Profit (loss) for the period | 9904 | €4,001 | -€9,557 | -€13,558 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,001 | -€9,557 | -€13,558 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.