ARGYVAL: 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.
ARGYVAL
Largest movements
- Receivables within one year -€20,069
down €20,069 (-94.8%), from €21,161 to €1,092
of which Trade receivables: -€19,965
- Tangible fixed assets +€5,985
up €5,985 (+7.6%), from €79,125 to €85,110
of which Furniture and vehicles: +€6,186
- Cash -€2,300
down €2,300 (-18.8%), from €12,214 to €9,915
mainly Trade debts (-€15,960) and Investment in fixed assets (net) (-€8,640)
- Trade debts -€15,960
down €15,960 (-71.3%), from €22,381 to €6,421
- Reserves +€14,065
up €14,065 (+51.3%), from €27,439 to €41,504
- Current portion of long-term debt -€8,274
down €8,274 (-57.6%), from €14,370 to €6,095
- Debts after one year -€6,095
down €6,095 (-100.0%), from €6,095 to €0
- Other debts -€3,957
down €3,957 (-19.4%), from €20,440 to €16,483
- Gross operating margin +€9,030
up €9,030 (+41.6%), from €21,721 to €30,751
- Depreciation +€2,232
up €2,232 (+527.1%), from €423 to €2,655
- Taxes +€2,007
up €2,007 (+40.5%), from €4,954 to €6,961
- Financial charges -€323
down €323 (-27.6%), from €1,172 to €849
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 | €115,165 | €98,465 | -€16,700 | -14.5% |
| Fixed assets | 21/28 | €79,125 | €85,110 | +€5,985 | +7.6% |
| Tangible fixed assets | 22/27 | €79,125 | €85,110 | +€5,985 | +7.6% |
| Land and buildings | 22 | €79,125 | €78,924 | -€201 | -0.3% |
| Furniture and vehicles | 24 | - | €6,186 | +€6,186 | |
| Current assets | 29/58 | €36,039 | €13,354 | -€22,685 | -62.9% |
| Amounts receivable within one year | 40/41 | €21,161 | €1,092 | -€20,069 | -94.8% |
| Trade receivables | 40 | €21,054 | €1,089 | -€19,965 | -94.8% |
| Other amounts receivable | 41 | €107 | €3 | -€104 | -96.9% |
| Cash at bank and in hand | 54/58 | €12,214 | €9,915 | -€2,300 | -18.8% |
| Deferred charges and accrued income | 490/1 | €2,664 | €2,347 | -€317 | -11.9% |
| Total equity and liabilities | 10/49 | €115,165 | €98,465 | -€16,700 | -14.5% |
| Equity | 10/15 | €46,031 | €60,096 | +€14,065 | +30.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,439 | €41,504 | +€14,065 | +51.3% |
| Distributable reserves | 133 | €27,439 | €41,504 | +€14,065 | +51.3% |
| Amounts payable | 17/49 | €69,134 | €38,369 | -€30,765 | -44.5% |
| Amounts payable after more than one year | 17 | €6,095 | €0 | -€6,095 | -100.0% |
| Financial debts | 170/4 | €6,095 | €0 | -€6,095 | -100.0% |
| Amounts payable within one year | 42/48 | €61,218 | €36,549 | -€24,669 | -40.3% |
| Current portion of amounts payable after more than one year | 42 | €14,370 | €6,095 | -€8,274 | -57.6% |
| Trade debts | 44 | €22,381 | €6,421 | -€15,960 | -71.3% |
| Suppliers | 440/4 | €22,381 | €6,421 | -€15,960 | -71.3% |
| Taxes, remuneration and social security | 45 | €4,028 | €7,550 | +€3,522 | +87.4% |
| Taxes | 450/3 | €4,028 | €7,550 | +€3,522 | +87.4% |
| Other amounts payable | 47/48 | €20,440 | €16,483 | -€3,957 | -19.4% |
| Accrued charges and deferred income | 492/3 | €1,820 | €1,820 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €423 | €2,655 | +€2,232 | +527.1% |
| Other operating charges | 640/8 | €6,284 | €6,223 | -€61 | -1.0% |
| Gross operating margin | 9900 | €21,721 | €30,751 | +€9,030 | +41.6% |
| Operating profit (loss) | 9901 | €15,013 | €21,873 | +€6,860 | +45.7% |
| Financial income | 75/76B | €9 | €2 | -€8 | -83.3% |
| Recurring financial income | 75 | €9 | €2 | -€8 | -83.3% |
| Financial charges | 65/66B | €1,172 | €849 | -€323 | -27.6% |
| Recurring financial charges | 65 | €1,172 | €849 | -€323 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €13,851 | €21,026 | +€7,175 | +51.8% |
| Income taxes | 67/77 | €4,954 | €6,961 | +€2,007 | +40.5% |
| Profit (loss) for the period | 9904 | €8,897 | €14,065 | +€5,168 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,897 | €14,065 | +€5,168 | +58.1% |
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 5 October 2026 via checked.be.