Argus Security: what changed
What changed
Argus Security
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€139,262
2024 · €32,648+€106,614
Equity
€337,744
2024 · €248,482+€89,262
Cash
€264,710
2024 · €124,559+€140,151
Balance sheet total
€576,105
2024 · €448,502+€127,602
Largest movements
Assets
- Cash +€140,151
up €140,151 (+113%), from €124,559 to €264,710
mainly Net result for the year (+€139,262) and Depreciation (+€47,447)
- Receivables within one year -€18,651
down €18,651 (-19.4%), from €96,051 to €77,400
of which Trade receivables: -€26,314
Equity and liabilities
- Reserves +€89,262
up €89,262 (+35.9%), from €248,482 to €337,744
of which Distributable reserves: +€56,151
- Other debts +€30,000
up €30,000 (+150%), from €20,000 to €50,000
- Trade debts -€16,240
down €16,240 (-84.5%), from €19,224 to €2,984
- Debts after one year +€11,706
up €11,706 (+10.4%), from €112,524 to €124,230
- Current portion of long-term debt +€9,266
up €9,266 (+40.7%), from €22,762 to €32,028
Income statement
- Gross operating margin +€153,167
up €153,167 (+60.1%), from €254,937 to €408,105
- Staff costs +€43,285
up €43,285 (+28.1%), from €154,132 to €197,416
- Depreciation -€13,033
down €13,033 (-21.5%), from €60,479 to €47,447
- Taxes +€9,910
up €9,910 (+198%), from €5,012 to €14,922
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€32,648
Gross operating margin
+€153,167
Staff costs
-€43,285
Depreciation
+€13,033
Other operating charges
+€1,519
Financial income
+€582
Financial charges
-€214
Taxes
-€9,910
Deferred taxes and other
-€8,278
Result 2025
€139,262
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€222,735
Investment
-€53,556
Financing
-€29,028
Cash 2024
€124,559
From operations (derived)
+€222,735
Net result for the year
+€139,262
Depreciation
+€47,447
Stocks and contracts
-€2,877
Receivables within one year
+€18,651
Deferred charges and accrued income
+€2,885
Provisions
+€8,278
Trade debts
-€16,240
Tax, wage and social debts
+€1,330
Other debts
+€30,000
Accrued charges and deferred income
-€6,000
Investment (derived)
-€53,556
Investment in fixed assets (net)
-€53,556
Financing
-€29,028
Debts after one year
+€11,706
Current portion of long-term debt
+€9,266
Contributions, distributions and other
-€50,000
Cash 2025
€264,710
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €448,502 | €576,105 | +€127,602 | +28.5% |
| Fixed assets | 21/28 | €212,670 | €218,779 | +€6,110 | +2.9% |
| Intangible fixed assets | 21 | - | €2,401 | +€2,401 | |
| Tangible fixed assets | 22/27 | €212,670 | €216,379 | +€3,709 | +1.7% |
| Plant, machinery and equipment | 23 | €6,024 | €3,896 | -€2,128 | -35.3% |
| Furniture and vehicles | 24 | €36,622 | €31,728 | -€4,894 | -13.4% |
| Leasing and similar rights | 25 | €38,207 | €70,092 | +€31,885 | +83.5% |
| Other tangible fixed assets | 26 | €131,817 | €110,663 | -€21,154 | -16.0% |
| Current assets | 29/58 | €235,833 | €357,325 | +€121,493 | +51.5% |
| Stocks and contracts in progress | 3 | €12,250 | €15,127 | +€2,877 | +23.5% |
| Stocks | 30/36 | €12,250 | €15,127 | +€2,877 | +23.5% |
| Amounts receivable within one year | 40/41 | €96,051 | €77,400 | -€18,651 | -19.4% |
| Trade receivables | 40 | €74,838 | €48,524 | -€26,314 | -35.2% |
| Other amounts receivable | 41 | €21,213 | €28,876 | +€7,663 | +36.1% |
| Cash at bank and in hand | 54/58 | €124,559 | €264,710 | +€140,151 | +113% |
| Deferred charges and accrued income | 490/1 | €2,974 | €89 | -€2,885 | -97.0% |
| Total equity and liabilities | 10/49 | €448,502 | €576,105 | +€127,602 | +28.5% |
| Equity | 10/15 | €248,482 | €337,744 | +€89,262 | +35.9% |
| Reserves | 13 | €248,482 | €337,744 | +€89,262 | +35.9% |
| Tax-exempt reserves | 132 | - | €33,111 | +€33,111 | |
| Distributable reserves | 133 | €248,482 | €304,633 | +€56,151 | +22.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €8,278 | +€8,278 | |
| Deferred taxes | 168 | - | €8,278 | +€8,278 | |
| Amounts payable | 17/49 | €200,020 | €230,083 | +€30,062 | +15.0% |
| Amounts payable after more than one year | 17 | €112,524 | €124,230 | +€11,706 | +10.4% |
| Financial debts | 170/4 | €112,524 | €124,230 | +€11,706 | +10.4% |
| Amounts payable within one year | 42/48 | €81,496 | €105,853 | +€24,356 | +29.9% |
| Current portion of amounts payable after more than one year | 42 | €22,762 | €32,028 | +€9,266 | +40.7% |
| Trade debts | 44 | €19,224 | €2,984 | -€16,240 | -84.5% |
| Suppliers | 440/4 | €19,224 | €2,984 | -€16,240 | -84.5% |
| Taxes, remuneration and social security | 45 | €19,511 | €20,841 | +€1,330 | +6.8% |
| Taxes | 450/3 | €6,914 | €3,074 | -€3,839 | -55.5% |
| Remuneration and social security | 454/9 | €12,597 | €17,767 | +€5,170 | +41.0% |
| Other amounts payable | 47/48 | €20,000 | €50,000 | +€30,000 | +150% |
| Accrued charges and deferred income | 492/3 | €6,000 | €0 | -€6,000 | -100% |
| Non-recurring operating income | 76A | €1,837 | €49,000 | +€47,163 | +2,567% |
| Remuneration, social security and pensions | 62 | €154,132 | €197,416 | +€43,285 | +28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,479 | €47,447 | -€13,033 | -21.5% |
| Other operating charges | 640/8 | €3,729 | €2,210 | -€1,519 | -40.7% |
| Gross operating margin | 9900 | €254,937 | €408,105 | +€153,167 | +60.1% |
| Operating profit (loss) | 9901 | €36,597 | €161,032 | +€124,434 | +340% |
| Financial income | 75/76B | €3,967 | €4,548 | +€582 | +14.7% |
| Recurring financial income | 75 | €3,967 | €4,548 | +€582 | +14.7% |
| Financial charges | 65/66B | €2,904 | €3,118 | +€214 | +7.4% |
| Recurring financial charges | 65 | €2,904 | €3,118 | +€214 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €37,660 | €162,462 | +€124,802 | +331% |
| Transfer from deferred taxes | 780 | - | €928 | +€928 | |
| Transfer to deferred taxes | 680 | - | €9,206 | +€9,206 | |
| Income taxes | 67/77 | €5,012 | €14,922 | +€9,910 | +198% |
| Profit (loss) for the period | 9904 | €32,648 | €139,262 | +€106,614 | +327% |
| Transfer from tax-exempt reserves | 789 | - | €3,713 | +€3,713 | |
| Transfer to tax-exempt reserves | 689 | - | €36,824 | +€36,824 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,648 | €106,151 | +€73,503 | +225% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.