ARM MANAGEMENT: 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.
ARM MANAGEMENT
Largest movements
- Receivables within one year +€66,847
up €66,847 (+358.8%), from €18,632 to €85,478
of which Trade receivables: +€66,569
- Cash -€16,331
down €16,331 (-16.4%), from €99,392 to €83,062
mainly Receivables within one year (-€66,847) and Other debts (-€8,101)
- Tangible fixed assets -€1,786
down €1,786 (-25.1%), from €7,106 to €5,320
of which Furniture and vehicles: -€944
- Trade debts +€39,694
up €39,694 (+251.6%), from €15,777 to €55,471
- Reserves +€21,731
up €21,731 (+28.7%), from €75,704 to €97,435
- Other debts -€8,101
no longer reported in 2026 (was €8,101)
- Tax, wage and social debts -€5,084
down €5,084 (-30.8%), from €16,487 to €11,403
of which Remuneration and social security: -€3,000
- Gross operating margin -€11,222
down €11,222 (-24.0%), from €46,708 to €35,487
- Taxes -€3,291
down €3,291 (-23.7%), from €13,888 to €10,597
- Other operating charges -€1,606
down €1,606 (-71.5%), from €2,246 to €639
- Financial charges +€710
up €710 (+487.3%), from €146 to €856
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €126,279 | €174,534 | +€48,255 | +38.2% |
| Fixed assets | 21/28 | €7,106 | €5,320 | -€1,786 | -25.1% |
| Tangible fixed assets | 22/27 | €7,106 | €5,320 | -€1,786 | -25.1% |
| Plant, machinery and equipment | 23 | €2,397 | €1,854 | -€543 | -22.7% |
| Furniture and vehicles | 24 | €3,480 | €2,536 | -€944 | -27.1% |
| Other tangible fixed assets | 26 | €1,229 | €931 | -€298 | -24.3% |
| Current assets | 29/58 | €119,173 | €169,214 | +€50,041 | +42.0% |
| Amounts receivable within one year | 40/41 | €18,632 | €85,478 | +€66,847 | +358.8% |
| Trade receivables | 40 | €14,399 | €80,968 | +€66,569 | +462.3% |
| Other amounts receivable | 41 | €4,233 | €4,510 | +€277 | +6.5% |
| Cash at bank and in hand | 54/58 | €99,392 | €83,062 | -€16,331 | -16.4% |
| Deferred charges and accrued income | 490/1 | €1,149 | €674 | -€475 | -41.3% |
| Total equity and liabilities | 10/49 | €126,279 | €174,534 | +€48,255 | +38.2% |
| Equity | 10/15 | €85,704 | €107,435 | +€21,731 | +25.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €75,704 | €97,435 | +€21,731 | +28.7% |
| Distributable reserves | 133 | €75,704 | €97,435 | +€21,731 | +28.7% |
| Amounts payable | 17/49 | €40,575 | €67,100 | +€26,524 | +65.4% |
| Amounts payable within one year | 42/48 | €40,364 | €66,873 | +€26,509 | +65.7% |
| Trade debts | 44 | €15,777 | €55,471 | +€39,694 | +251.6% |
| Suppliers | 440/4 | €15,777 | €55,471 | +€39,694 | +251.6% |
| Taxes, remuneration and social security | 45 | €16,487 | €11,403 | -€5,084 | -30.8% |
| Taxes | 450/3 | €13,487 | €11,403 | -€2,084 | -15.5% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €8,101 | - | -€8,101 | |
| Accrued charges and deferred income | 492/3 | €211 | €226 | +€15 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,526 | €1,786 | +€260 | +17.0% |
| Other operating charges | 640/8 | €2,246 | €639 | -€1,606 | -71.5% |
| Gross operating margin | 9900 | €46,708 | €35,487 | -€11,222 | -24.0% |
| Operating profit (loss) | 9901 | €42,937 | €33,062 | -€9,875 | -23.0% |
| Financial income | 75/76B | - | €122 | +€122 | |
| Recurring financial income | 75 | - | €122 | +€122 | |
| Financial charges | 65/66B | €146 | €856 | +€710 | +487.3% |
| Recurring financial charges | 65 | €146 | €856 | +€710 | +487.3% |
| Profit (loss) for the period before taxes | 9903 | €42,791 | €32,328 | -€10,463 | -24.5% |
| Income taxes | 67/77 | €13,888 | €10,597 | -€3,291 | -23.7% |
| Profit (loss) for the period | 9904 | €28,903 | €21,731 | -€7,172 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,903 | €21,731 | -€7,172 | -24.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.