ARMINE: 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.
ARMINE
Largest movements
- Deferred charges and accrued income -€5,995
down €5,995 (-32.8%), from €18,264 to €12,270
- Receivables within one year +€5,139
up €5,139 (+39.9%), from €12,873 to €18,012
of which Other amounts receivable: +€4,508
- Tangible fixed assets -€442
down €442 (-24.1%), from €1,831 to €1,389
- Short-term financial debts -€7,093
down €7,093 (-59.3%), from €11,962 to €4,869
- Reserves +€6,000
up €6,000 (+42.9%), from €14,000 to €20,000
- Current portion of long-term debt -€529
no longer reported in 2025 (was €529)
- Profit (loss) carried forward +€407
up €407 (+576.6%), from €71 to €477
- Gross operating margin +€16,747
up €16,747, from -€7,295 to €9,452
- Purchases and services -€4,800
down €4,800 (-4.6%), from €103,239 to €98,438
- Other operating charges -€606
down €606 (-35.8%), from €1,691 to €1,085
- Financial charges +€292
up €292 (+27.8%), from €1,052 to €1,344
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,018 | €31,720 | -€1,298 | -3.9% |
| Fixed assets | 21/28 | €1,881 | €1,439 | -€442 | -23.5% |
| Tangible fixed assets | 22/27 | €1,831 | €1,389 | -€442 | -24.1% |
| Plant, machinery and equipment | 23 | €1,831 | €1,389 | -€442 | -24.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €31,137 | €30,281 | -€856 | -2.7% |
| Amounts receivable within one year | 40/41 | €12,873 | €18,012 | +€5,139 | +39.9% |
| Trade receivables | 40 | - | €632 | +€632 | |
| Other amounts receivable | 41 | €12,873 | €17,380 | +€4,508 | +35.0% |
| Deferred charges and accrued income | 490/1 | €18,264 | €12,270 | -€5,995 | -32.8% |
| Total equity and liabilities | 10/49 | €33,018 | €31,720 | -€1,298 | -3.9% |
| Equity | 10/15 | €20,271 | €26,677 | +€6,407 | +31.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €14,000 | €20,000 | +€6,000 | +42.9% |
| Distributable reserves | 133 | €14,000 | €20,000 | +€6,000 | +42.9% |
| Profit (loss) carried forward | 14 | €71 | €477 | +€407 | +576.6% |
| Amounts payable | 17/49 | €12,747 | €5,043 | -€7,704 | -60.4% |
| Amounts payable within one year | 42/48 | €12,747 | €5,043 | -€7,704 | -60.4% |
| Current portion of amounts payable after more than one year | 42 | €529 | - | -€529 | |
| Financial debts | 43 | €11,962 | €4,869 | -€7,093 | -59.3% |
| Credit institutions | 430/8 | €11,962 | €4,869 | -€7,093 | -59.3% |
| Trade debts | 44 | €20 | - | -€20 | |
| Suppliers | 440/4 | €20 | - | -€20 | |
| Taxes, remuneration and social security | 45 | €236 | €174 | -€62 | -26.1% |
| Taxes | 450/3 | €236 | €174 | -€62 | -26.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €103,239 | €98,438 | -€4,800 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €442 | €442 | = | 0.0% |
| Other operating charges | 640/8 | €1,691 | €1,085 | -€606 | -35.8% |
| Gross operating margin | 9900 | -€7,295 | €9,452 | +€16,747 | |
| Operating profit (loss) | 9901 | -€9,428 | €7,925 | +€17,353 | |
| Financial charges | 65/66B | €1,052 | €1,344 | +€292 | +27.8% |
| Recurring financial charges | 65 | €1,052 | €1,344 | +€292 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,480 | €6,581 | +€17,061 | |
| Income taxes | 67/77 | €236 | €174 | -€62 | -26.1% |
| Profit (loss) for the period | 9904 | -€10,715 | €6,407 | +€17,122 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,715 | €6,407 | +€17,122 |
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 2 October 2026 via checked.be.