Armacon: 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.
Armacon
Largest movements
- Receivables within one year +€77,124
up €77,124 (+51.6%), from €149,525 to €226,649
of which Trade receivables: +€59,838
- Cash -€8,461
down €8,461 (-47.9%), from €17,647 to €9,186
mainly Contributions, distributions and other (-€135,000) and Receivables within one year (-€77,124)
- Tangible fixed assets -€3,189
down €3,189 (-16.8%), from €19,036 to €15,846
of which Furniture and vehicles: -€4,062
- Other debts +€83,395
up €83,395 (+95.3%), from €87,505 to €170,900
- Trade debts -€14,830
down €14,830 (-25.5%), from €58,208 to €43,378
- Reserves -€3,552
down €3,552 (-9.7%), from €36,627 to €33,075
- Gross operating margin +€33,479
up €33,479 (+33.6%), from €99,515 to €132,994
- Financial income +€3,415
up €3,415 (+153.0%), from €2,232 to €5,647
- Depreciation +€3,035
up €3,035 (+145.4%), from €2,088 to €5,123
- Other operating charges -€2,608
down €2,608 (-88.2%), from €2,958 to €349
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 | €188,378 | €252,731 | +€64,353 | +34.2% |
| Fixed assets | 21/28 | €20,086 | €16,896 | -€3,189 | -15.9% |
| Tangible fixed assets | 22/27 | €19,036 | €15,846 | -€3,189 | -16.8% |
| Plant, machinery and equipment | 23 | €3,890 | €4,763 | +€873 | +22.4% |
| Furniture and vehicles | 24 | €15,145 | €11,083 | -€4,062 | -26.8% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €168,292 | €235,835 | +€67,543 | +40.1% |
| Amounts receivable within one year | 40/41 | €149,525 | €226,649 | +€77,124 | +51.6% |
| Trade receivables | 40 | €6,312 | €66,150 | +€59,838 | +948.1% |
| Other amounts receivable | 41 | €143,213 | €160,499 | +€17,286 | +12.1% |
| Cash at bank and in hand | 54/58 | €17,647 | €9,186 | -€8,461 | -47.9% |
| Deferred charges and accrued income | 490/1 | €1,120 | - | -€1,120 | |
| Total equity and liabilities | 10/49 | €188,378 | €252,731 | +€64,353 | +34.2% |
| Equity | 10/15 | €38,127 | €34,575 | -€3,552 | -9.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €36,627 | €33,075 | -€3,552 | -9.7% |
| Distributable reserves | 133 | €36,627 | €33,075 | -€3,552 | -9.7% |
| Amounts payable | 17/49 | €150,251 | €218,156 | +€67,905 | +45.2% |
| Amounts payable within one year | 42/48 | €150,251 | €218,156 | +€67,905 | +45.2% |
| Trade debts | 44 | €58,208 | €43,378 | -€14,830 | -25.5% |
| Suppliers | 440/4 | €58,208 | €43,378 | -€14,830 | -25.5% |
| Taxes, remuneration and social security | 45 | €4,538 | €3,879 | -€659 | -14.5% |
| Taxes | 450/3 | €4,538 | €3,879 | -€659 | -14.5% |
| Other amounts payable | 47/48 | €87,505 | €170,900 | +€83,395 | +95.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,088 | €5,123 | +€3,035 | +145.4% |
| Other operating charges | 640/8 | €2,958 | €349 | -€2,608 | -88.2% |
| Gross operating margin | 9900 | €99,515 | €132,994 | +€33,479 | +33.6% |
| Operating profit (loss) | 9901 | €94,470 | €127,522 | +€33,052 | +35.0% |
| Financial income | 75/76B | €2,232 | €5,647 | +€3,415 | +153.0% |
| Recurring financial income | 75 | €2,232 | €5,647 | +€3,415 | +153.0% |
| Financial charges | 65/66B | €1,129 | €1,524 | +€396 | +35.1% |
| Recurring financial charges | 65 | €1,129 | €1,524 | +€396 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | €95,573 | €131,645 | +€36,071 | +37.7% |
| Income taxes | 67/77 | €1,204 | €197 | -€1,007 | -83.6% |
| Profit (loss) for the period | 9904 | €94,370 | €131,448 | +€37,078 | +39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €94,370 | €131,448 | +€37,078 | +39.3% |
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 9 October 2026 via checked.be.