ARGUS TEAM: what changed
ARGUS TEAM
Largest movements
- Receivables within one year +€19,856
up €19,856 (+576%), from €3,446 to €23,302
of which Trade receivables: +€17,340
- Cash +€12,941
up €12,941 (+26.9%), from €48,125 to €61,066
mainly Net result for the year (+€22,896) and Tax, wage and social debts (+€21,488)
- Stocks and contracts -€10,000
no longer reported in 2025 (was €10,000)
- Reserves +€22,896
up €22,896 (+99.9%), from €22,909 to €45,806
of which Distributable reserves: +€22,896
- Trade debts -€22,238
down €22,238 (-83.3%), from €26,708 to €4,470
- Tax, wage and social debts +€21,488
up €21,488 (+1,222%), from €1,758 to €23,246
- Gross operating margin +€38,177
up €38,177 (+408%), from €9,348 to €47,525
- Taxes +€18,520
new in 2025: €18,520
- Other operating charges +€3,130
up €3,130 (+378%), from €828 to €3,958
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,651 | €92,798 | +€22,146 | +31.3% |
| Fixed assets | 21/28 | €9,080 | €8,430 | -€650 | -7.2% |
| Tangible fixed assets | 22/27 | €9,080 | €8,430 | -€650 | -7.2% |
| Land and buildings | 22 | €7,715 | €7,466 | -€250 | -3.2% |
| Plant, machinery and equipment | 23 | €172 | €89 | -€82 | -48.0% |
| Furniture and vehicles | 24 | €1,193 | €875 | -€318 | -26.7% |
| Current assets | 29/58 | €61,571 | €84,368 | +€22,797 | +37.0% |
| Stocks and contracts in progress | 3 | €10,000 | - | -€10,000 | |
| Contracts in progress | 37 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €3,446 | €23,302 | +€19,856 | +576% |
| Trade receivables | 40 | - | €17,340 | +€17,340 | |
| Other amounts receivable | 41 | €3,446 | €5,962 | +€2,516 | +73.0% |
| Cash at bank and in hand | 54/58 | €48,125 | €61,066 | +€12,941 | +26.9% |
| Total equity and liabilities | 10/49 | €70,651 | €92,798 | +€22,146 | +31.3% |
| Equity | 10/15 | €41,509 | €64,406 | +€22,896 | +55.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,909 | €45,806 | +€22,896 | +99.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €21,049 | €43,946 | +€22,896 | +109% |
| Amounts payable | 17/49 | €29,142 | €28,392 | -€750 | -2.6% |
| Amounts payable within one year | 42/48 | €29,142 | €28,392 | -€750 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €676 | €676 | = | 0.0% |
| Trade debts | 44 | €26,708 | €4,470 | -€22,238 | -83.3% |
| Suppliers | 440/4 | €26,708 | €4,470 | -€22,238 | -83.3% |
| Taxes, remuneration and social security | 45 | €1,758 | €23,246 | +€21,488 | +1,222% |
| Taxes | 450/3 | €1,758 | €23,246 | +€21,488 | +1,222% |
| Remuneration, social security and pensions | 62 | €1,920 | €1,690 | -€230 | -12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €699 | €650 | -€49 | -7.0% |
| Other operating charges | 640/8 | €828 | €3,958 | +€3,130 | +378% |
| Gross operating margin | 9900 | €9,348 | €47,525 | +€38,177 | +408% |
| Operating profit (loss) | 9901 | €5,901 | €41,227 | +€35,326 | +599% |
| Financial income | 75/76B | - | €319 | +€319 | |
| Recurring financial income | 75 | - | €319 | +€319 | |
| Financial charges | 65/66B | €96 | €130 | +€34 | +35.2% |
| Recurring financial charges | 65 | €96 | €130 | +€34 | +35.2% |
| Profit (loss) for the period before taxes | 9903 | €5,805 | €41,416 | +€35,611 | +613% |
| Income taxes | 67/77 | - | €18,520 | +€18,520 | |
| Profit (loss) for the period | 9904 | €5,805 | €22,896 | +€17,092 | +294% |
| Profit (loss) for the period to be appropriated | 9905 | €5,805 | €22,896 | +€17,092 | +294% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.