ARM CONCEPT: 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.
ARM CONCEPT
Largest movements
- Tangible fixed assets +€92,721
up €92,721 (+104.5%), from €88,718 to €181,438
of which Furniture and vehicles: +€88,941
- Stocks and contracts -€38,965
down €38,965 (-11.7%), from €333,926 to €294,961
- Financial fixed assets +€12,000
up €12,000 (+121.8%), from €9,850 to €21,850
- Deferred charges and accrued income +€6,481
up €6,481 (+247.7%), from €2,617 to €9,098
- Debts after one year +€80,216
up €80,216 (+260.3%), from €30,816 to €111,033
- Tax, wage and social debts -€28,501
down €28,501 (-45.4%), from €62,844 to €34,343
of which Remuneration and social security: -€21,870
- Current portion of long-term debt +€24,478
up €24,478 (+81.8%), from €29,933 to €54,410
- Trade debts -€17,357
down €17,357 (-62.9%), from €27,585 to €10,228
- Advances received +€16,224
new in 2025: €16,224
- Other operating charges +€20,252
up €20,252 (+432.1%), from €4,687 to €24,939
- Depreciation +€19,556
up €19,556 (+52.1%), from €37,531 to €57,087
- Taxes -€15,214
down €15,214 (-55.0%), from €27,668 to €12,455
- Staff costs +€6,893
up €6,893 (+23.5%), from €29,390 to €36,283
- Gross operating margin +€2,283
up €2,283 (+1.5%), from €148,122 to €150,405
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 | €450,605 | €524,816 | +€74,211 | +16.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €98,568 | €203,288 | +€104,721 | +106.2% |
| Tangible fixed assets | 22/27 | €88,718 | €181,438 | +€92,721 | +104.5% |
| Plant, machinery and equipment | 23 | €2,294 | €6,193 | +€3,899 | +170.0% |
| Furniture and vehicles | 24 | €85,337 | €174,278 | +€88,941 | +104.2% |
| Other tangible fixed assets | 26 | €1,086 | €967 | -€119 | -10.9% |
| Financial fixed assets | 28 | €9,850 | €21,850 | +€12,000 | +121.8% |
| Current assets | 29/58 | €352,038 | €321,527 | -€30,510 | -8.7% |
| Stocks and contracts in progress | 3 | €333,926 | €294,961 | -€38,965 | -11.7% |
| Stocks | 30/36 | €333,926 | €294,961 | -€38,965 | -11.7% |
| Amounts receivable within one year | 40/41 | €0 | €980 | +€980 | |
| Trade receivables | 40 | €0 | €980 | +€980 | |
| Cash at bank and in hand | 54/58 | €15,495 | €16,488 | +€994 | +6.4% |
| Deferred charges and accrued income | 490/1 | €2,617 | €9,098 | +€6,481 | +247.7% |
| Total equity and liabilities | 10/49 | €450,605 | €524,816 | +€74,211 | +16.5% |
| Equity | 10/15 | €189,106 | €201,716 | +€12,610 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,554 | €124,164 | +€12,610 | +11.3% |
| Distributable reserves | 133 | €111,554 | €124,164 | +€12,610 | +11.3% |
| Profit (loss) carried forward | 14 | €58,952 | €58,952 | = | 0.0% |
| Amounts payable | 17/49 | €261,499 | €323,100 | +€61,601 | +23.6% |
| Amounts payable after more than one year | 17 | €30,816 | €111,033 | +€80,216 | +260.3% |
| Financial debts | 170/4 | €30,816 | €111,033 | +€80,216 | +260.3% |
| Amounts payable within one year | 42/48 | €230,683 | €212,067 | -€18,615 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €29,933 | €54,410 | +€24,478 | +81.8% |
| Trade debts | 44 | €27,585 | €10,228 | -€17,357 | -62.9% |
| Suppliers | 440/4 | €27,585 | €10,228 | -€17,357 | -62.9% |
| Advances received on contracts in progress | 46 | - | €16,224 | +€16,224 | |
| Taxes, remuneration and social security | 45 | €62,844 | €34,343 | -€28,501 | -45.4% |
| Taxes | 450/3 | €32,655 | €26,024 | -€6,631 | -20.3% |
| Remuneration and social security | 454/9 | €30,189 | €8,319 | -€21,870 | -72.4% |
| Other amounts payable | 47/48 | €110,321 | €96,862 | -€13,459 | -12.2% |
| Remuneration, social security and pensions | 62 | €29,390 | €36,283 | +€6,893 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,531 | €57,087 | +€19,556 | +52.1% |
| Other operating charges | 640/8 | €4,687 | €24,939 | +€20,252 | +432.1% |
| Gross operating margin | 9900 | €148,122 | €150,405 | +€2,283 | +1.5% |
| Operating profit (loss) | 9901 | €76,514 | €32,096 | -€44,418 | -58.1% |
| Financial income | 75/76B | €24 | €312 | +€287 | +1173.4% |
| Recurring financial income | 75 | €24 | €312 | +€287 | +1173.4% |
| Financial charges | 65/66B | €5,294 | €7,344 | +€2,049 | +38.7% |
| Recurring financial charges | 65 | €5,294 | €7,344 | +€2,049 | +38.7% |
| Profit (loss) for the period before taxes | 9903 | €71,244 | €25,064 | -€46,180 | -64.8% |
| Income taxes | 67/77 | €27,668 | €12,455 | -€15,214 | -55.0% |
| Profit (loss) for the period | 9904 | €43,576 | €12,610 | -€30,966 | -71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,576 | €12,610 | -€30,966 | -71.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.