ARMAT GROUP: 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.
ARMAT GROUP
Largest movements
- Receivables within one year +€13,632
up €13,632 (+171.5%), from €7,949 to €21,581
- Tangible fixed assets -€3,465
down €3,465 (-47.4%), from €7,307 to €3,842
of which Furniture and vehicles: -€3,339
- Cash +€2,113
up €2,113 (+2113.3%), from €100 to €2,213
mainly Debts after one year (+€17,937) and Current portion of long-term debt (+€3,860)
- Stocks and contracts +€1,518
new in 2025: €1,518
- Deferred charges and accrued income +€571
new in 2025: €571
- Debts after one year +€17,937
new in 2025: €17,937
- Profit (loss) carried forward -€9,777
down €9,777, from €5,898 to -€3,879
- Current portion of long-term debt +€3,860
new in 2025: €3,860
- Tax, wage and social debts +€2,040
up €2,040 (+127.3%), from €1,603 to €3,643
of which Taxes: +€1,415
- Gross operating margin -€18,430
down €18,430, from €15,801 to -€2,629
- Other operating charges +€3,926
up €3,926 (+860.9%), from €456 to €4,382
- Taxes -€1,603
no longer reported in 2025 (was €1,603)
- Financial charges +€1,118
up €1,118 (+3991.1%), from €28 to €1,146
- Depreciation -€1,074
down €1,074 (-39.9%), from €2,694 to €1,620
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 | €15,356 | €29,726 | +€14,369 | +93.6% |
| Fixed assets | 21/28 | €7,307 | €3,842 | -€3,465 | -47.4% |
| Tangible fixed assets | 22/27 | €7,307 | €3,842 | -€3,465 | -47.4% |
| Plant, machinery and equipment | 23 | €3,156 | €3,030 | -€126 | -4.0% |
| Furniture and vehicles | 24 | €4,151 | €813 | -€3,339 | -80.4% |
| Current assets | 29/58 | €8,049 | €25,883 | +€17,834 | +221.6% |
| Stocks and contracts in progress | 3 | - | €1,518 | +€1,518 | |
| Stocks | 30/36 | - | €1,518 | +€1,518 | |
| Amounts receivable within one year | 40/41 | €7,949 | €21,581 | +€13,632 | +171.5% |
| Other amounts receivable | 41 | €7,949 | €21,581 | +€13,632 | +171.5% |
| Cash at bank and in hand | 54/58 | €100 | €2,213 | +€2,113 | +2113.3% |
| Deferred charges and accrued income | 490/1 | - | €571 | +€571 | |
| Total equity and liabilities | 10/49 | €15,356 | €29,726 | +€14,369 | +93.6% |
| Equity | 10/15 | €10,898 | €1,121 | -€9,777 | -89.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,898 | -€3,879 | -€9,777 | |
| Amounts payable | 17/49 | €4,458 | €28,604 | +€24,146 | +541.6% |
| Amounts payable after more than one year | 17 | - | €17,937 | +€17,937 | |
| Financial debts | 170/4 | - | €17,937 | +€17,937 | |
| Amounts payable within one year | 42/48 | €4,458 | €10,667 | +€6,209 | +139.3% |
| Current portion of amounts payable after more than one year | 42 | - | €3,860 | +€3,860 | |
| Trade debts | 44 | €2,855 | €2,924 | +€68 | +2.4% |
| Suppliers | 440/4 | €2,855 | €2,924 | +€68 | +2.4% |
| Taxes, remuneration and social security | 45 | €1,603 | €3,643 | +€2,040 | +127.3% |
| Taxes | 450/3 | €1,603 | €3,018 | +€1,415 | +88.3% |
| Remuneration and social security | 454/9 | - | €625 | +€625 | |
| Other amounts payable | 47/48 | - | €241 | +€241 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,694 | €1,620 | -€1,074 | -39.9% |
| Other operating charges | 640/8 | €456 | €4,382 | +€3,926 | +860.9% |
| Gross operating margin | 9900 | €15,801 | -€2,629 | -€18,430 | |
| Operating profit (loss) | 9901 | €12,651 | -€8,631 | -€21,281 | |
| Financial charges | 65/66B | €28 | €1,146 | +€1,118 | +3991.1% |
| Recurring financial charges | 65 | €28 | €1,146 | +€1,118 | +3991.1% |
| Profit (loss) for the period before taxes | 9903 | €12,623 | -€9,777 | -€22,400 | |
| Income taxes | 67/77 | €1,603 | - | -€1,603 | |
| Profit (loss) for the period | 9904 | €11,020 | -€9,777 | -€20,797 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,020 | -€9,777 | -€20,797 |
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 6 October 2026 via checked.be.