ARMERIA: 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.
ARMERIA
Largest movements
- Cash +€72,675
up €72,675 (+31.1%), from €233,612 to €306,287
mainly Net result for the year (+€141,231) and Depreciation (+€23,426)
- Tangible fixed assets -€23,426
down €23,426 (-4.4%), from €535,080 to €511,654
- Receivables within one year -€19,244
no longer reported in 2025 (was €19,244)
- Reserves +€74,520
up €74,520 (+13.1%), from €568,807 to €643,327
of which Distributable reserves: +€74,520
- Other debts -€40,494
down €40,494 (-30.0%), from €135,150 to €94,656
- Depreciation -€7,735
down €7,735 (-24.8%), from €31,161 to €23,426
- Gross operating margin +€3,530
up €3,530 (+1.5%), from €230,833 to €234,363
- Taxes +€3,259
up €3,259 (+5.2%), from €63,083 to €66,342
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 | €809,758 | €841,027 | +€31,269 | +3.9% |
| Fixed assets | 21/28 | €535,080 | €511,654 | -€23,426 | -4.4% |
| Tangible fixed assets | 22/27 | €535,080 | €511,654 | -€23,426 | -4.4% |
| Land and buildings | 22 | €535,080 | €511,654 | -€23,426 | -4.4% |
| Current assets | 29/58 | €274,678 | €329,373 | +€54,695 | +19.9% |
| Amounts receivable within one year | 40/41 | €19,244 | - | -€19,244 | |
| Other amounts receivable | 41 | €19,244 | - | -€19,244 | |
| Current investments | 50/53 | €7,152 | €7,175 | +€23 | +0.3% |
| Cash at bank and in hand | 54/58 | €233,612 | €306,287 | +€72,675 | +31.1% |
| Deferred charges and accrued income | 490/1 | €14,670 | €15,910 | +€1,240 | +8.5% |
| Total equity and liabilities | 10/49 | €809,758 | €841,027 | +€31,269 | +3.9% |
| Equity | 10/15 | €588,071 | €662,591 | +€74,521 | +12.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €568,807 | €643,327 | +€74,520 | +13.1% |
| Tax-exempt reserves | 132 | €28,847 | €28,847 | = | 0.0% |
| Distributable reserves | 133 | €539,960 | €614,480 | +€74,520 | +13.8% |
| Profit (loss) carried forward | 14 | €663 | €664 | +€1 | +0.1% |
| Amounts payable | 17/49 | €221,687 | €178,436 | -€43,252 | -19.5% |
| Amounts payable within one year | 42/48 | €178,726 | €134,579 | -€44,147 | -24.7% |
| Trade debts | 44 | €627 | €517 | -€110 | -17.6% |
| Suppliers | 440/4 | €627 | €517 | -€110 | -17.6% |
| Taxes, remuneration and social security | 45 | €42,950 | €39,407 | -€3,543 | -8.2% |
| Taxes | 450/3 | €42,950 | €39,407 | -€3,543 | -8.2% |
| Other amounts payable | 47/48 | €135,150 | €94,656 | -€40,494 | -30.0% |
| Accrued charges and deferred income | 492/3 | €42,961 | €43,856 | +€895 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,161 | €23,426 | -€7,735 | -24.8% |
| Other operating charges | 640/8 | €2,496 | €2,758 | +€262 | +10.5% |
| Gross operating margin | 9900 | €230,833 | €234,363 | +€3,530 | +1.5% |
| Operating profit (loss) | 9901 | €197,176 | €208,179 | +€11,003 | +5.6% |
| Financial income | 75/76B | €920 | €39 | -€881 | -95.8% |
| Recurring financial income | 75 | €920 | €39 | -€881 | -95.8% |
| Financial charges | 65/66B | €568 | €645 | +€77 | +13.6% |
| Recurring financial charges | 65 | €568 | €645 | +€77 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €197,528 | €207,573 | +€10,045 | +5.1% |
| Income taxes | 67/77 | €63,083 | €66,342 | +€3,259 | +5.2% |
| Profit (loss) for the period | 9904 | €134,445 | €141,231 | +€6,785 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €134,445 | €141,231 | +€6,785 | +5.0% |
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 8 October 2026 via checked.be.