ARMGROUP: 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.
ARMGROUP
Largest movements
- Cash +€37,835
up €37,835 (+87.4%), from €43,269 to €81,104
mainly Net result for the year (+€29,328) and Depreciation (+€7,707)
- Tangible fixed assets -€7,707
down €7,707 (-24.0%), from €32,061 to €24,354
- Profit (loss) carried forward +€29,328
up €29,328 (+51.4%), from €57,066 to €86,394
- Tax, wage and social debts +€4,901
up €4,901 (+87.4%), from €5,610 to €10,512
- Debts after one year -€3,973
down €3,973 (-30.4%), from €13,062 to €9,089
- Gross operating margin -€15,238
down €15,238 (-23.6%), from €64,475 to €49,237
- Depreciation +€1,935
up €1,935 (+33.5%), from €5,772 to €7,707
- Taxes -€709
down €709 (-6.1%), from €11,610 to €10,901
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 | €86,061 | €116,147 | +€30,086 | +35.0% |
| Fixed assets | 21/28 | €32,061 | €24,354 | -€7,707 | -24.0% |
| Tangible fixed assets | 22/27 | €32,061 | €24,354 | -€7,707 | -24.0% |
| Furniture and vehicles | 24 | €32,061 | €24,354 | -€7,707 | -24.0% |
| Current assets | 29/58 | €54,000 | €91,794 | +€37,793 | +70.0% |
| Amounts receivable within one year | 40/41 | €10,731 | €10,689 | -€42 | -0.4% |
| Trade receivables | 40 | €6,309 | €2,904 | -€3,405 | -54.0% |
| Other amounts receivable | 41 | €4,422 | €7,785 | +€3,363 | +76.1% |
| Cash at bank and in hand | 54/58 | €43,269 | €81,104 | +€37,835 | +87.4% |
| Total equity and liabilities | 10/49 | €86,061 | €116,147 | +€30,086 | +35.0% |
| Equity | 10/15 | €63,066 | €92,394 | +€29,328 | +46.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,066 | €86,394 | +€29,328 | +51.4% |
| Amounts payable | 17/49 | €22,995 | €23,754 | +€759 | +3.3% |
| Amounts payable after more than one year | 17 | €13,062 | €9,089 | -€3,973 | -30.4% |
| Financial debts | 170/4 | €13,062 | €9,089 | -€3,973 | -30.4% |
| Amounts payable within one year | 42/48 | €9,933 | €14,665 | +€4,731 | +47.6% |
| Current portion of amounts payable after more than one year | 42 | €3,839 | €3,973 | +€134 | +3.5% |
| Trade debts | 44 | - | €180 | +€180 | |
| Suppliers | 440/4 | - | €180 | +€180 | |
| Taxes, remuneration and social security | 45 | €5,610 | €10,512 | +€4,901 | +87.4% |
| Taxes | 450/3 | €5,610 | €10,512 | +€4,901 | +87.4% |
| Other amounts payable | 47/48 | €485 | - | -€485 | |
| Non-recurring operating income | 76A | €4,112 | - | -€4,112 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,772 | €7,707 | +€1,935 | +33.5% |
| Other operating charges | 640/8 | €702 | €585 | -€117 | -16.7% |
| Gross operating margin | 9900 | €64,475 | €49,237 | -€15,238 | -23.6% |
| Operating profit (loss) | 9901 | €58,001 | €40,945 | -€17,056 | -29.4% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €713 | €716 | +€3 | +0.4% |
| Recurring financial charges | 65 | €713 | €716 | +€3 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €57,293 | €40,229 | -€17,064 | -29.8% |
| Income taxes | 67/77 | €11,610 | €10,901 | -€709 | -6.1% |
| Profit (loss) for the period | 9904 | €45,683 | €29,328 | -€16,355 | -35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,683 | €29,328 | -€16,355 | -35.8% |
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 22 October 2026 via checked.be.