ARMABETON: 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.
ARMABETON
Largest movements
- Cash +€178,045
up €178,045 (+146%), from €122,304 to €300,349
mainly Trade debts (+€239,990) and Depreciation (+€96,457)
- Receivables within one year +€99,813
up €99,813 (+23.2%), from €429,531 to €529,344
of which Trade receivables: +€171,879
- Tangible fixed assets -€91,831
down €91,831 (-14.9%), from €617,051 to €525,220
of which Furniture and vehicles: -€61,206
- Stocks and contracts +€26,686
up €26,686 (+9.1%), from €292,690 to €319,376
- Trade debts +€239,990
up €239,990 (+97.2%), from €246,789 to €486,779
- Reserves +€50,760
up €50,760 (+10.9%), from €465,900 to €516,660
of which Distributable reserves: +€50,760
- Debts after one year -€39,565
down €39,565 (-9.0%), from €441,567 to €402,002
- Current portion of long-term debt -€33,655
down €33,655 (-46.0%), from €73,220 to €39,565
- Other debts -€32,349
down €32,349 (-82.1%), from €39,392 to €7,043
- Staff costs -€46,666
down €46,666 (-14.6%), from €319,945 to €273,279
- Taxes +€26,156
up €26,156 (+5,800%), from €451 to €26,607
- Gross operating margin +€18,747
up €18,747 (+4.2%), from €446,258 to €465,005
- Other operating charges -€7,125
down €7,125 (-68.6%), from €10,393 to €3,268
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.
Derived cash bridge
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 | €1,475,928 | €1,679,926 | +€203,998 | +13.8% |
| Fixed assets | 21/28 | €617,346 | €525,515 | -€91,831 | -14.9% |
| Tangible fixed assets | 22/27 | €617,051 | €525,220 | -€91,831 | -14.9% |
| Land and buildings | 22 | €397,897 | €375,703 | -€22,194 | -5.6% |
| Plant, machinery and equipment | 23 | €44,779 | €36,348 | -€8,431 | -18.8% |
| Furniture and vehicles | 24 | €174,375 | €113,169 | -€61,206 | -35.1% |
| Financial fixed assets | 28 | €295 | €295 | = | 0.0% |
| Current assets | 29/58 | €858,582 | €1,154,411 | +€295,829 | +34.5% |
| Stocks and contracts in progress | 3 | €292,690 | €319,376 | +€26,686 | +9.1% |
| Stocks | 30/36 | €292,690 | €319,376 | +€26,686 | +9.1% |
| Amounts receivable within one year | 40/41 | €429,531 | €529,344 | +€99,813 | +23.2% |
| Trade receivables | 40 | €342,224 | €514,103 | +€171,879 | +50.2% |
| Other amounts receivable | 41 | €87,307 | €15,241 | -€72,066 | -82.5% |
| Cash at bank and in hand | 54/58 | €122,304 | €300,349 | +€178,045 | +146% |
| Deferred charges and accrued income | 490/1 | €14,057 | €5,342 | -€8,715 | -62.0% |
| Total equity and liabilities | 10/49 | €1,475,928 | €1,679,926 | +€203,998 | +13.8% |
| Equity | 10/15 | €608,012 | €658,776 | +€50,764 | +8.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €465,900 | €516,660 | +€50,760 | +10.9% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €463,900 | €514,660 | +€50,760 | +10.9% |
| Profit (loss) carried forward | 14 | €122,112 | €122,116 | +€4 | 0.0% |
| Amounts payable | 17/49 | €867,916 | €1,021,150 | +€153,234 | +17.7% |
| Amounts payable after more than one year | 17 | €441,567 | €402,002 | -€39,565 | -9.0% |
| Financial debts | 170/4 | €441,567 | €402,002 | -€39,565 | -9.0% |
| Amounts payable within one year | 42/48 | €426,349 | €619,148 | +€192,799 | +45.2% |
| Current portion of amounts payable after more than one year | 42 | €73,220 | €39,565 | -€33,655 | -46.0% |
| Financial debts | 43 | €11,814 | €11,560 | -€254 | -2.1% |
| Credit institutions | 430/8 | €11,814 | €11,560 | -€254 | -2.1% |
| Trade debts | 44 | €246,789 | €486,779 | +€239,990 | +97.2% |
| Suppliers | 440/4 | €246,789 | €486,779 | +€239,990 | +97.2% |
| Taxes, remuneration and social security | 45 | €55,134 | €74,201 | +€19,067 | +34.6% |
| Taxes | 450/3 | €21,003 | €33,062 | +€12,059 | +57.4% |
| Remuneration and social security | 454/9 | €34,131 | €41,139 | +€7,008 | +20.5% |
| Other amounts payable | 47/48 | €39,392 | €7,043 | -€32,349 | -82.1% |
| Non-recurring operating income | 76A | €6,218 | - | -€6,218 | |
| Remuneration, social security and pensions | 62 | €319,945 | €273,279 | -€46,666 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,356 | €96,457 | +€3,101 | +3.3% |
| Other operating charges | 640/8 | €10,393 | €3,268 | -€7,125 | -68.6% |
| Non-recurring operating charges | 66A | €9,004 | - | -€9,004 | |
| Gross operating margin | 9900 | €446,258 | €465,005 | +€18,747 | +4.2% |
| Operating profit (loss) | 9901 | €13,560 | €92,001 | +€78,441 | +578% |
| Financial income | 75/76B | €2,843 | €1 | -€2,842 | -100.0% |
| Recurring financial income | 75 | €2,843 | €1 | -€2,842 | -100.0% |
| Financial charges | 65/66B | €15,235 | €14,631 | -€604 | -4.0% |
| Recurring financial charges | 65 | €15,235 | €14,631 | -€604 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €1,168 | €77,371 | +€76,203 | +6,524% |
| Income taxes | 67/77 | €451 | €26,607 | +€26,156 | +5,800% |
| Profit (loss) for the period | 9904 | €717 | €50,764 | +€50,047 | +6,980% |
| Profit (loss) for the period to be appropriated | 9905 | €717 | €50,764 | +€50,047 | +6,980% |
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 25 October 2026 via checked.be.