ARMAN: 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.
ARMAN
Largest movements
- Cash +€158,551
up €158,551 (+61.4%), from €258,325 to €416,876
mainly Net result for the year (+€213,804) and Current portion of long-term debt (+€96,782)
- Stocks and contracts +€100,879
up €100,879 (+106%), from €95,076 to €195,955
- Tangible fixed assets +€28,001
up €28,001 (+50.0%), from €55,996 to €83,997
of which Furniture and vehicles: +€26,078
- Reserves +€200,000
up €200,000 (+196%), from €101,860 to €301,860
of which Distributable reserves: +€200,000
- Current portion of long-term debt +€96,782
up €96,782 (+576%), from €16,794 to €113,576
- Trade debts -€90,303
down €90,303 (-65.3%), from €138,350 to €48,047
- Debts after one year +€45,936
up €45,936 (+84.9%), from €54,128 to €100,063
of which Financial debts: +€60,786
- Tax, wage and social debts +€38,195
up €38,195 (+41.6%), from €91,802 to €129,997
of which Taxes: +€31,898
- Turnover +€598,987
up €598,987 (+43.9%), from €1.4m to €2.0m
- Purchases and services +€453,067
up €453,067 (+39.0%), from €1.2m to €1.6m
- Gross operating margin +€149,734
up €149,734 (+72.4%), from €206,764 to €356,497
- Taxes +€40,888
up €40,888 (+73.4%), from €55,691 to €96,579
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 | €510,802 | €800,625 | +€289,823 | +56.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €58,496 | €86,497 | +€28,001 | +47.9% |
| Tangible fixed assets | 22/27 | €55,996 | €83,997 | +€28,001 | +50.0% |
| Plant, machinery and equipment | 23 | €9,796 | €11,719 | +€1,923 | +19.6% |
| Furniture and vehicles | 24 | €46,200 | €72,278 | +€26,078 | +56.4% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €452,306 | €714,128 | +€261,822 | +57.9% |
| Stocks and contracts in progress | 3 | €95,076 | €195,955 | +€100,879 | +106% |
| Stocks | 30/36 | €95,076 | €195,955 | +€100,879 | +106% |
| Amounts receivable within one year | 40/41 | €88,457 | €90,645 | +€2,187 | +2.5% |
| Trade receivables | 40 | €73,767 | €79,550 | +€5,783 | +7.8% |
| Other amounts receivable | 41 | €14,691 | €11,095 | -€3,596 | -24.5% |
| Cash at bank and in hand | 54/58 | €258,325 | €416,876 | +€158,551 | +61.4% |
| Deferred charges and accrued income | 490/1 | €10,448 | €10,653 | +€205 | +2.0% |
| Total equity and liabilities | 10/49 | €510,802 | €800,625 | +€289,823 | +56.7% |
| Equity | 10/15 | €191,740 | €405,544 | +€213,804 | +112% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,860 | €301,860 | +€200,000 | +196% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €300,000 | +€200,000 | +200% |
| Profit (loss) carried forward | 14 | €71,280 | €85,084 | +€13,804 | +19.4% |
| Amounts payable | 17/49 | €319,062 | €395,081 | +€76,019 | +23.8% |
| Amounts payable after more than one year | 17 | €54,128 | €100,063 | +€45,936 | +84.9% |
| Financial debts | 170/4 | €39,278 | €100,063 | +€60,786 | +155% |
| Other amounts payable | 178/9 | €14,850 | €0 | -€14,850 | -100% |
| Amounts payable within one year | 42/48 | €264,934 | €295,018 | +€30,083 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €16,794 | €113,576 | +€96,782 | +576% |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €138,350 | €48,047 | -€90,303 | -65.3% |
| Suppliers | 440/4 | €138,350 | €48,047 | -€90,303 | -65.3% |
| Taxes, remuneration and social security | 45 | €91,802 | €129,997 | +€38,195 | +41.6% |
| Taxes | 450/3 | €89,802 | €121,700 | +€31,898 | +35.5% |
| Remuneration and social security | 454/9 | €2,000 | €8,297 | +€6,297 | +315% |
| Other amounts payable | 47/48 | €17,989 | €3,398 | -€14,591 | -81.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €1,364,275 | €1,963,262 | +€598,987 | +43.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,161,493 | €1,614,561 | +€453,067 | +39.0% |
| Remuneration, social security and pensions | 62 | - | €16,447 | +€16,447 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,393 | €19,880 | +€3,487 | +21.3% |
| Other operating charges | 640/8 | €3,391 | €15,748 | +€12,358 | +364% |
| Gross operating margin | 9900 | €206,764 | €356,497 | +€149,734 | +72.4% |
| Operating profit (loss) | 9901 | €186,980 | €304,422 | +€117,443 | +62.8% |
| Financial income | 75/76B | €3,381 | €13,560 | +€10,179 | +301% |
| Recurring financial income | 75 | €3,381 | €2,625 | -€756 | -22.4% |
| Non-recurring financial income | 76B | - | €10,935 | +€10,935 | |
| Financial charges | 65/66B | €6,796 | €7,599 | +€803 | +11.8% |
| Recurring financial charges | 65 | €6,796 | €7,599 | +€803 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €183,564 | €310,383 | +€126,819 | +69.1% |
| Income taxes | 67/77 | €55,691 | €96,579 | +€40,888 | +73.4% |
| Profit (loss) for the period | 9904 | €127,873 | €213,804 | +€85,931 | +67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €127,873 | €213,804 | +€85,931 | +67.2% |
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 13 October 2026 via checked.be.