ARMELA: 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.
ARMELA
Largest movements
- Receivables within one year -€10,672
down €10,672 (-6.5%), from €164,966 to €154,294
of which Trade receivables: -€5,975
- Tangible fixed assets -€2,225
down €2,225 (-21.1%), from €10,558 to €8,332
of which Furniture and vehicles: -€1,113
- Cash -€2,176
down €2,176 (-39.7%), from €5,480 to €3,304
mainly Net result for the year (-€19,036) and Current portion of long-term debt (-€1,200)
- Profit (loss) carried forward -€19,036
down €19,036 (-24.6%), from €77,405 to €58,370
- Trade debts +€3,817
up €3,817 (+204.6%), from €1,865 to €5,683
- Gross operating margin -€43,496
down €43,496 (-69.5%), from €62,555 to €19,060
- Other operating charges +€4,300
up €4,300 (+86.6%), from €4,965 to €9,265
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 | €183,227 | €169,027 | -€14,200 | -7.7% |
| Fixed assets | 21/28 | €11,431 | €9,206 | -€2,225 | -19.5% |
| Tangible fixed assets | 22/27 | €10,558 | €8,332 | -€2,225 | -21.1% |
| Plant, machinery and equipment | 23 | €6,219 | €5,107 | -€1,112 | -17.9% |
| Furniture and vehicles | 24 | €4,339 | €3,225 | -€1,113 | -25.7% |
| Financial fixed assets | 28 | €874 | €874 | = | 0.0% |
| Current assets | 29/58 | €171,795 | €159,821 | -€11,974 | -7.0% |
| Stocks and contracts in progress | 3 | €655 | €1,461 | +€806 | +123.0% |
| Stocks | 30/36 | €655 | €1,461 | +€806 | +123.0% |
| Amounts receivable within one year | 40/41 | €164,966 | €154,294 | -€10,672 | -6.5% |
| Trade receivables | 40 | €17,463 | €11,488 | -€5,975 | -34.2% |
| Other amounts receivable | 41 | €147,503 | €142,805 | -€4,697 | -3.2% |
| Cash at bank and in hand | 54/58 | €5,480 | €3,304 | -€2,176 | -39.7% |
| Deferred charges and accrued income | 490/1 | €694 | €762 | +€68 | +9.8% |
| Total equity and liabilities | 10/49 | €183,227 | €169,027 | -€14,200 | -7.7% |
| Equity | 10/15 | €173,023 | €153,987 | -€19,036 | -11.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €89,420 | €89,420 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,100 | €63,100 | = | 0.0% |
| Distributable reserves | 133 | €24,461 | €24,461 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,405 | €58,370 | -€19,036 | -24.6% |
| Amounts payable | 17/49 | €10,204 | €15,040 | +€4,836 | +47.4% |
| Amounts payable within one year | 42/48 | €10,204 | €15,040 | +€4,836 | +47.4% |
| Current portion of amounts payable after more than one year | 42 | €1,200 | - | -€1,200 | |
| Trade debts | 44 | €1,865 | €5,683 | +€3,817 | +204.6% |
| Suppliers | 440/4 | €1,865 | €5,683 | +€3,817 | +204.6% |
| Taxes, remuneration and social security | 45 | €5,472 | €6,670 | +€1,198 | +21.9% |
| Taxes | 450/3 | €1,925 | €1,658 | -€266 | -13.8% |
| Remuneration and social security | 454/9 | €3,548 | €5,012 | +€1,464 | +41.3% |
| Other amounts payable | 47/48 | €1,666 | €2,687 | +€1,021 | +61.3% |
| Remuneration, social security and pensions | 62 | €25,567 | €25,603 | +€36 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,225 | €2,225 | = | 0.0% |
| Other operating charges | 640/8 | €4,965 | €9,265 | +€4,300 | +86.6% |
| Gross operating margin | 9900 | €62,555 | €19,060 | -€43,496 | -69.5% |
| Operating profit (loss) | 9901 | €29,798 | -€18,033 | -€47,831 | |
| Financial charges | 65/66B | €744 | €708 | -€36 | -4.9% |
| Recurring financial charges | 65 | €744 | €708 | -€36 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €29,054 | -€18,742 | -€47,795 | |
| Income taxes | 67/77 | €43 | €294 | +€251 | +579.1% |
| Profit (loss) for the period | 9904 | €29,010 | -€19,036 | -€48,046 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,010 | -€19,036 | -€48,046 |
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 11 October 2026 via checked.be.