ARMATRANS: 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.
ARMATRANS
Largest movements
- Tangible fixed assets -€26,148
down €26,148 (-22.1%), from €118,131 to €91,983
- Receivables within one year -€7,932
down €7,932 (-57.8%), from €13,718 to €5,786
of which Trade receivables: -€4,630
- Cash -€2,475
down €2,475 (-25.5%), from €9,716 to €7,240
mainly Net result for the year (-€12,158) and Debts after one year (-€11,914)
- Profit (loss) carried forward -€12,158
down €12,158 (-22.4%), from €54,274 to €42,116
- Debts after one year -€11,914
down €11,914 (-36.3%), from €32,798 to €20,884
- Tax, wage and social debts -€8,020
no longer reported in 2025 (was €8,020)
- Other debts -€4,144
down €4,144 (-25.8%), from €16,039 to €11,895
- Gross operating margin -€26,130
down €26,130 (-61.3%), from €42,596 to €16,466
- Depreciation +€15,570
up €15,570 (+147%), from €10,578 to €26,148
- Taxes -€8,020
no longer reported in 2025 (was €8,020)
- Financial charges +€721
up €721 (+78.7%), from €916 to €1,637
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 | €143,354 | €107,269 | -€36,084 | -25.2% |
| Fixed assets | 21/28 | €118,131 | €91,983 | -€26,148 | -22.1% |
| Tangible fixed assets | 22/27 | €118,131 | €91,983 | -€26,148 | -22.1% |
| Furniture and vehicles | 24 | €118,131 | €91,983 | -€26,148 | -22.1% |
| Current assets | 29/58 | €25,222 | €15,286 | -€9,936 | -39.4% |
| Amounts receivable within one year | 40/41 | €13,718 | €5,786 | -€7,932 | -57.8% |
| Trade receivables | 40 | €4,871 | €241 | -€4,630 | -95.1% |
| Other amounts receivable | 41 | €8,847 | €5,545 | -€3,301 | -37.3% |
| Cash at bank and in hand | 54/58 | €9,716 | €7,240 | -€2,475 | -25.5% |
| Deferred charges and accrued income | 490/1 | €1,789 | €2,259 | +€471 | +26.3% |
| Total equity and liabilities | 10/49 | €143,354 | €107,269 | -€36,084 | -25.2% |
| Equity | 10/15 | €74,734 | €62,576 | -€12,158 | -16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,274 | €42,116 | -€12,158 | -22.4% |
| Amounts payable | 17/49 | €68,620 | €44,693 | -€23,926 | -34.9% |
| Amounts payable after more than one year | 17 | €32,798 | €20,884 | -€11,914 | -36.3% |
| Financial debts | 170/4 | €32,798 | €20,884 | -€11,914 | -36.3% |
| Amounts payable within one year | 42/48 | €35,822 | €23,810 | -€12,012 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €11,473 | €11,914 | +€441 | +3.8% |
| Trade debts | 44 | €289 | - | -€289 | |
| Suppliers | 440/4 | €289 | - | -€289 | |
| Taxes, remuneration and social security | 45 | €8,020 | - | -€8,020 | |
| Taxes | 450/3 | €8,020 | - | -€8,020 | |
| Other amounts payable | 47/48 | €16,039 | €11,895 | -€4,144 | -25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,578 | €26,148 | +€15,570 | +147% |
| Other operating charges | 640/8 | €1,113 | €839 | -€273 | -24.6% |
| Gross operating margin | 9900 | €42,596 | €16,466 | -€26,130 | -61.3% |
| Operating profit (loss) | 9901 | €30,905 | -€10,521 | -€41,427 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €916 | €1,637 | +€721 | +78.7% |
| Recurring financial charges | 65 | €916 | €1,637 | +€721 | +78.7% |
| Profit (loss) for the period before taxes | 9903 | €29,989 | -€12,158 | -€42,147 | |
| Income taxes | 67/77 | €8,020 | - | -€8,020 | |
| Profit (loss) for the period | 9904 | €21,969 | -€12,158 | -€34,127 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,969 | -€12,158 | -€34,127 |
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 18 October 2026 via checked.be.