ARMAY: 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.
ARMAY
Largest movements
- Tangible fixed assets -€18,934
no longer reported in 2025 (was €18,934)
- Receivables within one year +€14,359
up €14,359 (+115%), from €12,538 to €26,897
- Stocks and contracts -€2,152
no longer reported in 2025 (was €2,152)
- Cash -€717
down €717 (-98.5%), from €728 to €11
mainly Receivables within one year (-€14,359) and Net result for the year (-€12,905)
- Profit (loss) carried forward -€12,905
down €12,905 (-40.9%), from -€31,556 to -€44,461
- Other debts +€4,294
up €4,294 (+40.5%), from €10,591 to €14,885
- Tax, wage and social debts +€1,724
up €1,724 (+385%), from €447 to €2,172
- Trade debts -€557
down €557 (-18.2%), from €3,069 to €2,512
- Turnover -€35,188
down €35,188 (-97.4%), from €36,130 to €942
- Purchases and services -€26,987
down €26,987 (-79.1%), from €34,097 to €7,110
- Gross operating margin -€8,201
down €8,201, from €2,033 to -€6,168
- Other operating charges +€5,769
up €5,769 (+3,068%), from €188 to €5,957
- Depreciation -€2,864
down €2,864 (-83.2%), from €3,444 to €580
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 | €35,102 | €27,658 | -€7,444 | -21.2% |
| Fixed assets | 21/28 | €19,684 | €750 | -€18,934 | -96.2% |
| Tangible fixed assets | 22/27 | €18,934 | - | -€18,934 | |
| Plant, machinery and equipment | 23 | €3,672 | - | -€3,672 | |
| Furniture and vehicles | 24 | €6,766 | - | -€6,766 | |
| Leasing and similar rights | 25 | €8,495 | - | -€8,495 | |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €15,418 | €26,908 | +€11,490 | +74.5% |
| Stocks and contracts in progress | 3 | €2,152 | - | -€2,152 | |
| Stocks | 30/36 | €2,152 | - | -€2,152 | |
| Amounts receivable within one year | 40/41 | €12,538 | €26,897 | +€14,359 | +115% |
| Trade receivables | 40 | €12,538 | €26,897 | +€14,359 | +115% |
| Cash at bank and in hand | 54/58 | €728 | €11 | -€717 | -98.5% |
| Total equity and liabilities | 10/49 | €35,102 | €27,658 | -€7,444 | -21.2% |
| Equity | 10/15 | -€12,442 | -€25,347 | -€12,905 | -104% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €514 | €514 | = | 0.0% |
| Non-distributable reserves | 130/1 | €514 | €514 | = | 0.0% |
| Reserves not available under the articles | 1311 | €514 | €514 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,556 | -€44,461 | -€12,905 | -40.9% |
| Amounts payable | 17/49 | €47,544 | €53,005 | +€5,461 | +11.5% |
| Amounts payable within one year | 42/48 | €14,108 | €19,568 | +€5,461 | +38.7% |
| Trade debts | 44 | €3,069 | €2,512 | -€557 | -18.2% |
| Suppliers | 440/4 | €3,069 | €2,512 | -€557 | -18.2% |
| Taxes, remuneration and social security | 45 | €447 | €2,172 | +€1,724 | +385% |
| Taxes | 450/3 | €447 | €2,172 | +€1,724 | +385% |
| Other amounts payable | 47/48 | €10,591 | €14,885 | +€4,294 | +40.5% |
| Accrued charges and deferred income | 492/3 | €33,436 | €33,436 | = | 0.0% |
| Turnover | 70 | €36,130 | €942 | -€35,188 | -97.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €34,097 | €7,110 | -€26,987 | -79.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,444 | €580 | -€2,864 | -83.2% |
| Other operating charges | 640/8 | €188 | €5,957 | +€5,769 | +3,068% |
| Gross operating margin | 9900 | €2,033 | -€6,168 | -€8,201 | |
| Operating profit (loss) | 9901 | -€1,599 | -€12,705 | -€11,106 | -695% |
| Financial charges | 65/66B | €442 | €200 | -€242 | -54.8% |
| Recurring financial charges | 65 | €442 | €200 | -€242 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,041 | -€12,905 | -€10,864 | -532% |
| Income taxes | 67/77 | €431 | - | -€431 | |
| Profit (loss) for the period | 9904 | -€2,472 | -€12,905 | -€10,432 | -422% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,472 | -€12,905 | -€10,432 | -422% |
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 15 October 2026 via checked.be.