ARGUZ: what changed
Two fiscal 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.
ARGUZ
Largest movements
- Cash +€14,548
up €14,548 (+24.3%), from €59,952 to €74,500
mainly Net result for the year (+€13,338) and Depreciation (+€7,092)
- Tangible fixed assets -€5,717
down €5,717 (-3.7%), from €152,631 to €146,915
of which Land and buildings: -€5,717
- Reserves +€13,338
up €13,338 (+94.1%), from €14,167 to €27,505
of which Distributable reserves: +€13,338
- Debts after one year -€10,441
down €10,441 (-18.3%), from €56,987 to €46,547
- Trade debts +€3,011
up €3,011 (+326.9%), from €921 to €3,932
- Write-downs -€5,303
down €5,303, from €4,193 to -€1,110
- Gross operating margin +€3,914
up €3,914 (+14.8%), from €26,491 to €30,405
- Taxes +€3,261
up €3,261 (+105.4%), from €3,095 to €6,356
- Depreciation -€610
down €610 (-7.9%), from €7,702 to €7,092
- Financial charges -€388
down €388 (-10.1%), from €3,852 to €3,464
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.
Cash bridge derived
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 | €243,635 | €251,341 | +€7,706 | +3.2% |
| Fixed assets | 21/28 | €155,992 | €148,900 | -€7,092 | -4.5% |
| Intangible fixed assets | 21 | €3,361 | €1,986 | -€1,375 | -40.9% |
| Tangible fixed assets | 22/27 | €152,631 | €146,915 | -€5,717 | -3.7% |
| Land and buildings | 22 | €152,631 | €146,915 | -€5,717 | -3.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €87,644 | €102,441 | +€14,798 | +16.9% |
| Stocks and contracts in progress | 3 | €23,684 | €22,887 | -€797 | -3.4% |
| Stocks | 30/36 | €23,684 | €22,887 | -€797 | -3.4% |
| Amounts receivable within one year | 40/41 | €3,020 | €4,334 | +€1,314 | +43.5% |
| Trade receivables | 40 | €1,250 | €2,846 | +€1,596 | +127.7% |
| Other amounts receivable | 41 | €1,770 | €1,488 | -€282 | -15.9% |
| Cash at bank and in hand | 54/58 | €59,952 | €74,500 | +€14,548 | +24.3% |
| Deferred charges and accrued income | 490/1 | €988 | €721 | -€267 | -27.0% |
| Total equity and liabilities | 10/49 | €243,635 | €251,341 | +€7,706 | +3.2% |
| Equity | 10/15 | €32,767 | €46,105 | +€13,338 | +40.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,167 | €27,505 | +€13,338 | +94.1% |
| Tax-exempt reserves | 132 | €115 | €115 | = | 0.0% |
| Distributable reserves | 133 | €14,052 | €27,390 | +€13,338 | +94.9% |
| Amounts payable | 17/49 | €210,868 | €205,236 | -€5,632 | -2.7% |
| Amounts payable after more than one year | 17 | €56,987 | €46,547 | -€10,441 | -18.3% |
| Financial debts | 170/4 | €56,987 | €46,547 | -€10,441 | -18.3% |
| Amounts payable within one year | 42/48 | €152,934 | €157,674 | +€4,740 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €10,002 | €10,441 | +€439 | +4.4% |
| Trade debts | 44 | €921 | €3,932 | +€3,011 | +326.9% |
| Suppliers | 440/4 | €921 | €3,932 | +€3,011 | +326.9% |
| Taxes, remuneration and social security | 45 | €3,406 | €5,106 | +€1,701 | +49.9% |
| Taxes | 450/3 | €3,406 | €5,106 | +€1,701 | +49.9% |
| Other amounts payable | 47/48 | €138,606 | €138,196 | -€410 | -0.3% |
| Accrued charges and deferred income | 492/3 | €947 | €1,015 | +€68 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,702 | €7,092 | -€610 | -7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,193 | -€1,110 | -€5,303 | |
| Other operating charges | 640/8 | €1,690 | €1,718 | +€28 | +1.6% |
| Gross operating margin | 9900 | €26,491 | €30,405 | +€3,914 | +14.8% |
| Operating profit (loss) | 9901 | €12,906 | €22,705 | +€9,799 | +75.9% |
| Financial income | 75/76B | €673 | €453 | -€221 | -32.8% |
| Recurring financial income | 75 | €673 | €453 | -€221 | -32.8% |
| Financial charges | 65/66B | €3,852 | €3,464 | -€388 | -10.1% |
| Recurring financial charges | 65 | €3,852 | €3,464 | -€388 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €9,728 | €19,694 | +€9,966 | +102.5% |
| Income taxes | 67/77 | €3,095 | €6,356 | +€3,261 | +105.4% |
| Profit (loss) for the period | 9904 | €6,632 | €13,338 | +€6,705 | +101.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,632 | €13,338 | +€6,705 | +101.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.