ARMA: 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.
What changed
ARMA
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€811,448
2024 · €562,280+€249,168
Equity
€16.9m
2024 · €15.9m+€974,846
Cash
€573,864
2024 · €1.3m-€739,461
Balance sheet total
€19.0m
2024 · €17.4m+€1.6m
Largest movements
Assets
- Tangible fixed assets +€1.6m
up €1.6m (+149.1%), from €1.1m to €2.7m
of which Land and buildings: +€1.7m
- Cash -€739,461
down €739,461 (-56.3%), from €1.3m to €573,864
mainly Investment in fixed assets (net) (-€2.1m) and Stocks and contracts (-€696,244)
- Stocks and contracts +€696,244
up €696,244 (+10.5%), from €6.6m to €7.3m
Equity and liabilities
- Debts after one year +€1.0m
up €1.0m (+17817.2%), from €5,717 to €1.0m
- Profit (loss) carried forward +€834,316
up €834,316 (+2587.4%), from €32,245 to €866,561
- Other debts -€642,025
down €642,025 (-94.5%), from €679,333 to €37,308
Income statement
- Turnover +€817,217
up €817,217 (+6.4%), from €12.7m to €13.5m
- Goods and materials +€206,657
up €206,657 (+2.2%), from €9.5m to €9.7m
of which Purchases: +€1.1m
- Staff costs +€149,277
up €149,277 (+11.1%), from €1.3m to €1.5m
- Financial charges +€140,773
up €140,773 (+209.5%), from €67,185 to €207,957
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.
Result 2024
€562,280
Turnover
+€817,217
Other operating income
+€2,085
Goods and materials
-€206,657
Services and other goods
+€48,352
Staff costs
-€149,277
Depreciation
-€46,983
Other operating charges
+€9,238
Financial income
-€849
Financial charges
-€140,773
Taxes
-€90,566
Deferred taxes and other
+€7,380
Result 2025
€811,448
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.
From operations
+€202,866
Investment
-€2.1m
Financing
+€1.2m
Cash 2024
€1.3m
From operations (derived)
+€202,866
Net result for the year
+€811,448
Depreciation
+€303,908
Stocks and contracts
-€696,244
Receivables within one year
+€185,696
Smaller working-capital items
-€966
Provisions
-€8,095
Trade debts
+€87,034
Tax, wage and social debts
+€168,093
Advances received
-€5,984
Other debts
-€642,025
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
+€1.2m
Debts after one year
+€1.0m
Current portion of long-term debt
+€21,835
Contributions, distributions and other
+€163,398
Cash 2025
€573,864
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,363,943 | €18,980,601 | +€1.6m | +9.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €7,592,559 | €9,434,752 | +€1.8m | +24.3% |
| Intangible fixed assets | 21 | €30,740 | €94,858 | +€64,118 | +208.6% |
| Tangible fixed assets | 22/27 | €1,082,520 | €2,696,047 | +€1.6m | +149.1% |
| Land and buildings | 22 | €820,196 | €2,477,994 | +€1.7m | +202.1% |
| Plant, machinery and equipment | 23 | €137,455 | €83,000 | -€54,455 | -39.6% |
| Furniture and vehicles | 24 | €108,242 | €135,053 | +€26,811 | +24.8% |
| Leasing and similar rights | 25 | €16,628 | €0 | -€16,628 | -100.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €6,479,299 | €6,643,847 | +€164,548 | +2.5% |
| Affiliated companies | 280/1 | €6,426,977 | €6,590,627 | +€163,650 | +2.5% |
| Participating interests | 280 | €6,426,977 | €6,590,627 | +€163,650 | +2.5% |
| Companies linked by participating interests | 282/3 | €5,782 | €6,774 | +€992 | +17.2% |
| Participating interests | 282 | €5,782 | €6,774 | +€992 | +17.2% |
| Other financial fixed assets | 284/8 | €46,539 | €46,445 | -€94 | -0.2% |
| Shares | 284 | €2,480 | €2,480 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €44,059 | €43,965 | -€94 | -0.2% |
| Current assets | 29/58 | €9,771,385 | €9,545,849 | -€225,535 | -2.3% |
| Stocks and contracts in progress | 3 | €6,607,544 | €7,303,788 | +€696,244 | +10.5% |
| Stocks | 30/36 | €6,607,544 | €7,303,788 | +€696,244 | +10.5% |
| Raw materials and consumables | 30/31 | €6,607,544 | €7,303,788 | +€696,244 | +10.5% |
| Amounts receivable within one year | 40/41 | €1,831,971 | €1,646,275 | -€185,696 | -10.1% |
| Trade receivables | 40 | €985,680 | €1,227,482 | +€241,802 | +24.5% |
| Other amounts receivable | 41 | €846,291 | €418,793 | -€427,498 | -50.5% |
| Current investments | 50/53 | - | €0 | = | |
| Other investments | 51/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €1,313,325 | €573,864 | -€739,461 | -56.3% |
| Deferred charges and accrued income | 490/1 | €18,545 | €21,922 | +€3,377 | +18.2% |
| Total equity and liabilities | 10/49 | €17,363,943 | €18,980,601 | +€1.6m | +9.3% |
| Equity | 10/15 | €15,920,966 | €16,895,812 | +€974,846 | +6.1% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Revaluation surpluses | 12 | €5,786,808 | €5,951,451 | +€164,642 | +2.8% |
| Reserves | 13 | €9,600,128 | €9,577,260 | -€22,868 | -0.2% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €550,128 | €527,260 | -€22,868 | -4.2% |
| Distributable reserves | 133 | €9,000,000 | €9,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,245 | €866,561 | +€834,316 | +2587.4% |
| Investment grants | 15 | €1,785 | €541 | -€1,244 | -69.7% |
| Provisions and deferred taxes | 16 | €181,081 | €172,987 | -€8,095 | -4.5% |
| Deferred taxes | 168 | €181,081 | €172,987 | -€8,095 | -4.5% |
| Amounts payable | 17/49 | €1,261,896 | €1,911,802 | +€649,906 | +51.5% |
| Amounts payable after more than one year | 17 | €5,717 | €1,024,258 | +€1.0m | +17817.2% |
| Financial debts | 170/4 | €5,717 | €1,024,258 | +€1.0m | +17817.2% |
| Leasing and similar obligations | 172 | €0 | - | = | |
| Credit institutions | 173 | €5,717 | - | -€5,717 | |
| Other loans | 174 | €0 | €1,024,258 | +€1.0m | |
| Amounts payable within one year | 42/48 | €1,256,179 | €885,133 | -€371,046 | -29.5% |
| Current portion of amounts payable after more than one year | 42 | €93,035 | €114,869 | +€21,835 | +23.5% |
| Trade debts | 44 | €233,770 | €320,804 | +€87,034 | +37.2% |
| Suppliers | 440/4 | €233,770 | €320,804 | +€87,034 | +37.2% |
| Advances received on contracts in progress | 46 | €23,114 | €17,130 | -€5,984 | -25.9% |
| Taxes, remuneration and social security | 45 | €226,928 | €395,022 | +€168,093 | +74.1% |
| Taxes | 450/3 | €57,800 | €167,329 | +€109,529 | +189.5% |
| Remuneration and social security | 454/9 | €169,128 | €227,693 | +€58,564 | +34.6% |
| Other amounts payable | 47/48 | €679,333 | €37,308 | -€642,025 | -94.5% |
| Accrued charges and deferred income | 492/3 | - | €2,412 | +€2,412 | |
| Operating income | 70/76A | €12,778,578 | €13,597,880 | +€819,302 | +6.4% |
| Turnover | 70 | €12,705,666 | €13,522,883 | +€817,217 | +6.4% |
| Other operating income | 74 | €72,912 | €74,997 | +€2,085 | +2.9% |
| Operating charges | 60/66A | €12,270,300 | €12,615,627 | +€345,327 | +2.8% |
| Goods for resale, raw materials and consumables | 60 | €9,482,560 | €9,689,217 | +€206,657 | +2.2% |
| Purchases | 600/8 | €9,259,314 | €10,385,461 | +€1.1m | +12.2% |
| Change in stocks: decrease (increase) | 609 | €223,247 | -€696,244 | -€919,491 | |
| Services and other goods | 61 | €1,096,951 | €1,048,599 | -€48,352 | -4.4% |
| Remuneration, social security and pensions | 62 | €1,347,267 | €1,496,543 | +€149,277 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €256,925 | €303,908 | +€46,983 | +18.3% |
| Other operating charges | 640/8 | €86,597 | €77,360 | -€9,238 | -10.7% |
| Operating profit (loss) | 9901 | €508,278 | €982,253 | +€473,975 | +93.3% |
| Financial income | 75/76B | €323,062 | €322,213 | -€849 | -0.3% |
| Recurring financial income | 75 | €323,062 | €322,213 | -€849 | -0.3% |
| Income from financial fixed assets | 750 | €2,586 | €2,693 | +€107 | +4.1% |
| Other financial income | 752/9 | €320,476 | €319,520 | -€956 | -0.3% |
| Financial charges | 65/66B | €67,185 | €207,957 | +€140,773 | +209.5% |
| Recurring financial charges | 65 | €67,185 | €207,957 | +€140,773 | +209.5% |
| Debt charges | 650 | €46,284 | €73,760 | +€27,476 | +59.4% |
| Other financial charges | 652/9 | €20,901 | €134,197 | +€113,297 | +542.1% |
| Profit (loss) for the period before taxes | 9903 | €764,155 | €1,096,508 | +€332,354 | +43.5% |
| Transfer from deferred taxes | 780 | €714 | €8,095 | +€7,380 | +1033.0% |
| Income taxes | 67/77 | €202,589 | €293,155 | +€90,566 | +44.7% |
| Taxes | 670/3 | €202,589 | €293,155 | +€90,566 | +44.7% |
| Profit (loss) for the period | 9904 | €562,280 | €811,448 | +€249,168 | +44.3% |
| Transfer from tax-exempt reserves | 789 | - | €22,868 | +€22,868 | |
| Profit (loss) for the period to be appropriated | 9905 | €562,280 | €834,316 | +€272,036 | +48.4% |
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.