ARMATURE: 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.
ARMATURE
Largest movements
- Tangible fixed assets -€3,225
down €3,225 (-48.4%), from €6,660 to €3,435
of which Other tangible fixed assets: -€2,416
- Cash -€1,207
down €1,207 (-89.9%), from €1,343 to €135
mainly Net result for the year (-€5,625) and Trade debts (-€400)
- Receivables within one year -€290
down €290 (-20.5%), from €1,413 to €1,122
of which Trade receivables: -€474
- Deferred charges and accrued income -€282
no longer reported in 2025 (was €282)
- Profit (loss) carried forward -€5,625
down €5,625 (-21.7%), from -€25,879 to -€31,504
- Other debts +€1,021
up €1,021 (+5.7%), from €18,031 to €19,052
- Trade debts -€400
down €400 (-15.7%), from €2,545 to €2,145
- Gross operating margin -€7,166
down €7,166, from €5,315 to -€1,851
- Depreciation -€3,565
down €3,565 (-52.5%), from €6,790 to €3,225
- Financial charges -€1,253
down €1,253 (-96.4%), from €1,301 to €47
- Other operating charges -€882
down €882 (-68.8%), from €1,282 to €400
- Taxes -€254
down €254 (-71.3%), from €356 to €102
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 | €9,697 | €4,693 | -€5,004 | -51.6% |
| Fixed assets | 21/28 | €6,660 | €3,435 | -€3,225 | -48.4% |
| Tangible fixed assets | 22/27 | €6,660 | €3,435 | -€3,225 | -48.4% |
| Furniture and vehicles | 24 | €1,457 | €648 | -€809 | -55.5% |
| Other tangible fixed assets | 26 | €5,203 | €2,787 | -€2,416 | -46.4% |
| Current assets | 29/58 | €3,037 | €1,258 | -€1,779 | -58.6% |
| Amounts receivable within one year | 40/41 | €1,413 | €1,122 | -€290 | -20.5% |
| Trade receivables | 40 | €974 | €500 | -€474 | -48.7% |
| Other amounts receivable | 41 | €438 | €622 | +€184 | +42.0% |
| Cash at bank and in hand | 54/58 | €1,343 | €135 | -€1,207 | -89.9% |
| Deferred charges and accrued income | 490/1 | €282 | - | -€282 | |
| Total equity and liabilities | 10/49 | €9,697 | €4,693 | -€5,004 | -51.6% |
| Equity | 10/15 | -€10,879 | -€16,504 | -€5,625 | -51.7% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,879 | -€31,504 | -€5,625 | -21.7% |
| Amounts payable | 17/49 | €20,576 | €21,198 | +€621 | +3.0% |
| Amounts payable within one year | 42/48 | €20,576 | €21,198 | +€621 | +3.0% |
| Trade debts | 44 | €2,545 | €2,145 | -€400 | -15.7% |
| Suppliers | 440/4 | €2,545 | €2,145 | -€400 | -15.7% |
| Other amounts payable | 47/48 | €18,031 | €19,052 | +€1,021 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,790 | €3,225 | -€3,565 | -52.5% |
| Other operating charges | 640/8 | €1,282 | €400 | -€882 | -68.8% |
| Gross operating margin | 9900 | €5,315 | -€1,851 | -€7,166 | |
| Operating profit (loss) | 9901 | -€2,757 | -€5,476 | -€2,719 | -98.6% |
| Financial charges | 65/66B | €1,301 | €47 | -€1,253 | -96.4% |
| Recurring financial charges | 65 | €1,301 | €47 | -€1,253 | -96.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,058 | -€5,523 | -€1,466 | -36.1% |
| Income taxes | 67/77 | €356 | €102 | -€254 | -71.3% |
| Profit (loss) for the period | 9904 | -€4,413 | -€5,625 | -€1,212 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,413 | -€5,625 | -€1,212 | -27.5% |
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 30 October 2026 via checked.be.