ARMIJO CONSTRUCT: 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.
ARMIJO CONSTRUCT
Largest movements
- Cash -€10,175
down €10,175 (-99.1%), from €10,265 to €90
mainly Net result for the year (-€6,461) and Investment in fixed assets (net) (-€5,497)
- Receivables within one year +€4,605
up €4,605 (+19.3%), from €23,815 to €28,420
of which Trade receivables: +€4,739
- Tangible fixed assets -€3,717
down €3,717 (-18.1%), from €20,504 to €16,787
- Deferred charges and accrued income -€809
down €809 (-98.5%), from €822 to €12
- Profit (loss) carried forward -€6,461
down €6,461 (-55.0%), from €11,748 to €5,287
- Other debts +€4,954
up €4,954 (+52.8%), from €9,384 to €14,338
- Debts after one year -€3,345
down €3,345 (-19.6%), from €17,077 to €13,731
- Advances received -€3,000
no longer reported in 2025 (was €3,000)
- Trade debts -€2,646
down €2,646 (-56.1%), from €4,720 to €2,074
- Depreciation +€3,764
up €3,764 (+69.1%), from €5,450 to €9,214
- Gross operating margin +€2,099
up €2,099 (+48.2%), from €4,353 to €6,451
- Financial charges +€920
up €920 (+72.7%), from €1,265 to €2,185
- Taxes +€184
up €184 (+366.3%), from €50 to €234
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 | €55,405 | €45,309 | -€10,096 | -18.2% |
| Fixed assets | 21/28 | €20,504 | €16,787 | -€3,717 | -18.1% |
| Tangible fixed assets | 22/27 | €20,504 | €16,787 | -€3,717 | -18.1% |
| Furniture and vehicles | 24 | €20,504 | €16,787 | -€3,717 | -18.1% |
| Current assets | 29/58 | €34,901 | €28,523 | -€6,379 | -18.3% |
| Amounts receivable within one year | 40/41 | €23,815 | €28,420 | +€4,605 | +19.3% |
| Trade receivables | 40 | €20,992 | €25,731 | +€4,739 | +22.6% |
| Other amounts receivable | 41 | €2,823 | €2,689 | -€133 | -4.7% |
| Cash at bank and in hand | 54/58 | €10,265 | €90 | -€10,175 | -99.1% |
| Deferred charges and accrued income | 490/1 | €822 | €12 | -€809 | -98.5% |
| Total equity and liabilities | 10/49 | €55,405 | €45,309 | -€10,096 | -18.2% |
| Equity | 10/15 | €18,048 | €11,587 | -€6,461 | -35.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,748 | €5,287 | -€6,461 | -55.0% |
| Amounts payable | 17/49 | €37,357 | €33,722 | -€3,635 | -9.7% |
| Amounts payable after more than one year | 17 | €17,077 | €13,731 | -€3,345 | -19.6% |
| Financial debts | 170/4 | €17,077 | €13,731 | -€3,345 | -19.6% |
| Amounts payable within one year | 42/48 | €20,281 | €19,991 | -€290 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €3,127 | €3,345 | +€219 | +7.0% |
| Trade debts | 44 | €4,720 | €2,074 | -€2,646 | -56.1% |
| Suppliers | 440/4 | €4,720 | €2,074 | -€2,646 | -56.1% |
| Advances received on contracts in progress | 46 | €3,000 | - | -€3,000 | |
| Taxes, remuneration and social security | 45 | €50 | €234 | +€184 | +366.2% |
| Taxes | 450/3 | €50 | €234 | +€184 | +366.2% |
| Other amounts payable | 47/48 | €9,384 | €14,338 | +€4,954 | +52.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,450 | €9,214 | +€3,764 | +69.1% |
| Other operating charges | 640/8 | €1,271 | €1,279 | +€8 | +0.6% |
| Gross operating margin | 9900 | €4,353 | €6,451 | +€2,099 | +48.2% |
| Operating profit (loss) | 9901 | -€2,369 | -€4,042 | -€1,673 | -70.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,265 | €2,185 | +€920 | +72.7% |
| Recurring financial charges | 65 | €1,265 | €2,185 | +€920 | +72.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,634 | -€6,227 | -€2,593 | -71.4% |
| Income taxes | 67/77 | €50 | €234 | +€184 | +366.3% |
| Profit (loss) for the period | 9904 | -€3,684 | -€6,461 | -€2,777 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,684 | -€6,461 | -€2,777 | -75.4% |
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 12 October 2026 via checked.be.