ARMARMAT: 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.
ARMARMAT
Largest movements
- Tangible fixed assets -€20,616
down €20,616 (-39.8%), from €51,845 to €31,229
- Receivables within one year +€14,701
up €14,701 (+13.3%), from €110,632 to €125,333
of which Trade receivables: +€13,490
- Debts after one year -€48,490
down €48,490 (-11.3%), from €430,509 to €382,020
- Profit (loss) carried forward +€33,434
up €33,434 (+6.6%), from -€503,393 to -€469,959
- Trade debts +€11,380
up €11,380 (+314.1%), from €3,623 to €15,003
- Current portion of long-term debt -€7,441
down €7,441 (-46.7%), from €15,930 to €8,490
- Tax, wage and social debts +€5,787
up €5,787 (+34.8%), from €16,627 to €22,414
of which Remuneration and social security: +€5,550
- Gross operating margin +€24,169
up €24,169 (+28.5%), from €84,708 to €108,877
- Staff costs +€4,816
up €4,816 (+10.3%), from €46,978 to €51,794
- Depreciation +€2,347
up €2,347 (+12.2%), from €19,291 to €21,638
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 | €216,416 | €211,355 | -€5,061 | -2.3% |
| Fixed assets | 21/28 | €53,126 | €31,488 | -€21,638 | -40.7% |
| Intangible fixed assets | 21 | €1,280 | €259 | -€1,022 | -79.8% |
| Tangible fixed assets | 22/27 | €51,845 | €31,229 | -€20,616 | -39.8% |
| Furniture and vehicles | 24 | €51,845 | €31,229 | -€20,616 | -39.8% |
| Current assets | 29/58 | €163,290 | €179,867 | +€16,577 | +10.2% |
| Amounts receivable after more than one year | 29 | €11,900 | €11,900 | = | 0.0% |
| Other amounts receivable | 291 | €11,900 | €11,900 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €110,632 | €125,333 | +€14,701 | +13.3% |
| Trade receivables | 40 | €109,982 | €123,472 | +€13,490 | +12.3% |
| Other amounts receivable | 41 | €650 | €1,861 | +€1,210 | +186.1% |
| Cash at bank and in hand | 54/58 | €38,887 | €40,684 | +€1,797 | +4.6% |
| Deferred charges and accrued income | 490/1 | €1,871 | €1,950 | +€79 | +4.2% |
| Total equity and liabilities | 10/49 | €216,416 | €211,355 | -€5,061 | -2.3% |
| Equity | 10/15 | -€251,393 | -€217,959 | +€33,434 | +13.3% |
| Contributions | 10/11 | €252,000 | €252,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€503,393 | -€469,959 | +€33,434 | +6.6% |
| Amounts payable | 17/49 | €467,809 | €429,313 | -€38,495 | -8.2% |
| Amounts payable after more than one year | 17 | €430,509 | €382,020 | -€48,490 | -11.3% |
| Financial debts | 170/4 | €430,509 | €382,020 | -€48,490 | -11.3% |
| Amounts payable within one year | 42/48 | €36,952 | €46,946 | +€9,994 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | €15,930 | €8,490 | -€7,441 | -46.7% |
| Trade debts | 44 | €3,623 | €15,003 | +€11,380 | +314.1% |
| Suppliers | 440/4 | €3,623 | €15,003 | +€11,380 | +314.1% |
| Taxes, remuneration and social security | 45 | €16,627 | €22,414 | +€5,787 | +34.8% |
| Taxes | 450/3 | €9,670 | €9,907 | +€237 | +2.4% |
| Remuneration and social security | 454/9 | €6,957 | €12,507 | +€5,550 | +79.8% |
| Other amounts payable | 47/48 | €771 | €1,039 | +€268 | +34.8% |
| Accrued charges and deferred income | 492/3 | €348 | €348 | = | 0.0% |
| Non-recurring operating income | 76A | €3,826 | - | -€3,826 | |
| Remuneration, social security and pensions | 62 | €46,978 | €51,794 | +€4,816 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,291 | €21,638 | +€2,347 | +12.2% |
| Other operating charges | 640/8 | €1,487 | €404 | -€1,083 | -72.9% |
| Gross operating margin | 9900 | €84,708 | €108,877 | +€24,169 | +28.5% |
| Operating profit (loss) | 9901 | €16,951 | €35,041 | +€18,090 | +106.7% |
| Financial income | 75/76B | €38 | €139 | +€101 | +264.8% |
| Recurring financial income | 75 | €38 | €139 | +€101 | +264.8% |
| Financial charges | 65/66B | €1,382 | €1,463 | +€81 | +5.8% |
| Recurring financial charges | 65 | €1,382 | €1,463 | +€81 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €15,607 | €33,718 | +€18,110 | +116.0% |
| Income taxes | 67/77 | €349 | €283 | -€66 | -18.9% |
| Profit (loss) for the period | 9904 | €15,258 | €33,434 | +€18,176 | +119.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,258 | €33,434 | +€18,176 | +119.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.