Armex Transport: 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.
Armex Transport
Largest movements
- Tangible fixed assets +€19,961
up €19,961 (+41.1%), from €48,568 to €68,529
of which Furniture and vehicles: +€18,772
- Receivables within one year +€16,637
up €16,637 (+37.6%), from €44,219 to €60,856
of which Other amounts receivable: +€17,911
- Cash -€14,366
down €14,366 (-71.3%), from €20,145 to €5,779
mainly Trade debts (-€51,796) and Investment in fixed assets (net) (-€43,885)
- Deferred charges and accrued income -€2,746
no longer reported in 2025 (was €2,746)
- Trade debts -€51,796
down €51,796 (-85.8%), from €60,385 to €8,589
- Profit (loss) carried forward +€37,677
up €37,677 (+231%), from €16,285 to €53,962
- Current portion of long-term debt +€16,724
up €16,724 (+17,511%), from €96 to €16,820
- Tax, wage and social debts +€11,281
up €11,281 (+89.9%), from €12,553 to €23,834
of which Taxes: +€6,048
- Debts after one year +€4,429
up €4,429 (+18.9%), from €23,400 to €27,829
- Gross operating margin +€124,718
up €124,718 (+332%), from €37,593 to €162,311
- Staff costs +€68,902
up €68,902 (+580%), from €11,887 to €80,788
- Taxes +€14,564
new in 2025: €14,564
- Depreciation +€10,844
up €10,844 (+83.8%), from €12,945 to €23,789
- Financial charges +€3,174
up €3,174 (+965%), from €329 to €3,503
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 | €115,679 | €135,299 | +€19,620 | +17.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €48,568 | €68,664 | +€20,096 | +41.4% |
| Tangible fixed assets | 22/27 | €48,568 | €68,529 | +€19,961 | +41.1% |
| Plant, machinery and equipment | 23 | €1,111 | €2,300 | +€1,189 | +107% |
| Furniture and vehicles | 24 | €47,457 | €66,229 | +€18,772 | +39.6% |
| Financial fixed assets | 28 | - | €135 | +€135 | |
| Current assets | 29/58 | €67,111 | €66,635 | -€476 | -0.7% |
| Amounts receivable within one year | 40/41 | €44,219 | €60,856 | +€16,637 | +37.6% |
| Trade receivables | 40 | €28,401 | €27,126 | -€1,275 | -4.5% |
| Other amounts receivable | 41 | €15,818 | €33,730 | +€17,911 | +113% |
| Cash at bank and in hand | 54/58 | €20,145 | €5,779 | -€14,366 | -71.3% |
| Deferred charges and accrued income | 490/1 | €2,746 | - | -€2,746 | |
| Total equity and liabilities | 10/49 | €115,679 | €135,299 | +€19,620 | +17.0% |
| Equity | 10/15 | €18,285 | €55,962 | +€37,677 | +206% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,285 | €53,962 | +€37,677 | +231% |
| Amounts payable | 17/49 | €97,394 | €79,337 | -€18,057 | -18.5% |
| Amounts payable after more than one year | 17 | €23,400 | €27,829 | +€4,429 | +18.9% |
| Financial debts | 170/4 | €23,400 | €27,829 | +€4,429 | +18.9% |
| Amounts payable within one year | 42/48 | €73,994 | €51,508 | -€22,486 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €96 | €16,820 | +€16,724 | +17,511% |
| Trade debts | 44 | €60,385 | €8,589 | -€51,796 | -85.8% |
| Suppliers | 440/4 | €60,385 | €8,589 | -€51,796 | -85.8% |
| Taxes, remuneration and social security | 45 | €12,553 | €23,834 | +€11,281 | +89.9% |
| Taxes | 450/3 | €11,046 | €17,094 | +€6,048 | +54.8% |
| Remuneration and social security | 454/9 | €1,507 | €6,740 | +€5,233 | +347% |
| Other amounts payable | 47/48 | €960 | €2,265 | +€1,305 | +136% |
| Remuneration, social security and pensions | 62 | €11,887 | €80,788 | +€68,902 | +580% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,945 | €23,789 | +€10,844 | +83.8% |
| Other operating charges | 640/8 | €798 | €2,810 | +€2,012 | +252% |
| Gross operating margin | 9900 | €37,593 | €162,311 | +€124,718 | +332% |
| Operating profit (loss) | 9901 | €11,962 | €54,923 | +€42,961 | +359% |
| Financial income | 75/76B | - | €821 | +€821 | |
| Recurring financial income | 75 | - | €821 | +€821 | |
| Financial charges | 65/66B | €329 | €3,503 | +€3,174 | +965% |
| Recurring financial charges | 65 | €329 | €3,503 | +€3,174 | +965% |
| Profit (loss) for the period before taxes | 9903 | €11,633 | €52,241 | +€40,608 | +349% |
| Income taxes | 67/77 | - | €14,564 | +€14,564 | |
| Profit (loss) for the period | 9904 | €11,633 | €37,677 | +€26,044 | +224% |
| Profit (loss) for the period to be appropriated | 9905 | €11,633 | €37,677 | +€26,044 | +224% |
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 23 October 2026 via checked.be.