ARMON: 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.
ARMON
Largest movements
- Cash +€29,494
up €29,494 (+44.1%), from €66,944 to €96,438
mainly Depreciation (+€26,681) and Receivables within one year (+€16,605)
- Tangible fixed assets -€20,605
down €20,605 (-32.1%), from €64,096 to €43,491
of which Leasing and similar rights: -€16,471
- Receivables within one year -€16,605
down €16,605 (-24.8%), from €67,026 to €50,421
of which Trade receivables: -€8,425
- Deferred charges and accrued income -€3,581
down €3,581 (-30.0%), from €11,928 to €8,347
- Current portion of long-term debt -€18,112
no longer reported in 2025 (was €18,112)
- Profit (loss) carried forward +€8,685
up €8,685 (+6.0%), from €145,865 to €154,550
- Trade debts -€2,129
down €2,129 (-13.9%), from €15,278 to €13,149
- Depreciation -€18,088
down €18,088 (-40.4%), from €44,769 to €26,681
- Gross operating margin -€12,612
down €12,612 (-2.8%), from €457,078 to €444,466
- Other operating charges -€9,221
down €9,221 (-40.6%), from €22,711 to €13,490
- Taxes +€7,253
up €7,253 (+307.9%), from €2,356 to €9,609
- Financial charges -€4,943
down €4,943 (-24.6%), from €20,125 to €15,182
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 | €210,194 | €198,897 | -€11,297 | -5.4% |
| Fixed assets | 21/28 | €64,296 | €43,691 | -€20,605 | -32.0% |
| Tangible fixed assets | 22/27 | €64,096 | €43,491 | -€20,605 | -32.1% |
| Plant, machinery and equipment | 23 | €44,723 | €38,797 | -€5,926 | -13.3% |
| Furniture and vehicles | 24 | €2,902 | €4,694 | +€1,792 | +61.8% |
| Leasing and similar rights | 25 | €16,471 | - | -€16,471 | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €145,898 | €155,206 | +€9,308 | +6.4% |
| Amounts receivable within one year | 40/41 | €67,026 | €50,421 | -€16,605 | -24.8% |
| Trade receivables | 40 | €8,425 | - | -€8,425 | |
| Other amounts receivable | 41 | €58,601 | €50,421 | -€8,180 | -14.0% |
| Cash at bank and in hand | 54/58 | €66,944 | €96,438 | +€29,494 | +44.1% |
| Deferred charges and accrued income | 490/1 | €11,928 | €8,347 | -€3,581 | -30.0% |
| Total equity and liabilities | 10/49 | €210,194 | €198,897 | -€11,297 | -5.4% |
| Equity | 10/15 | €145,865 | €154,550 | +€8,685 | +6.0% |
| Profit (loss) carried forward | 14 | €145,865 | €154,550 | +€8,685 | +6.0% |
| Amounts payable | 17/49 | €64,329 | €44,347 | -€19,982 | -31.1% |
| Amounts payable within one year | 42/48 | €64,329 | €44,347 | -€19,982 | -31.1% |
| Current portion of amounts payable after more than one year | 42 | €18,112 | - | -€18,112 | |
| Trade debts | 44 | €15,278 | €13,149 | -€2,129 | -13.9% |
| Suppliers | 440/4 | €15,278 | €13,149 | -€2,129 | -13.9% |
| Taxes, remuneration and social security | 45 | €30,939 | €30,935 | -€4 | 0.0% |
| Taxes | 450/3 | €1,614 | €4,680 | +€3,066 | +190.0% |
| Remuneration and social security | 454/9 | €29,325 | €26,255 | -€3,070 | -10.5% |
| Other amounts payable | 47/48 | - | €263 | +€263 | |
| Non-recurring operating income | 76A | €14,150 | - | -€14,150 | |
| Remuneration, social security and pensions | 62 | €366,559 | €370,819 | +€4,260 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,769 | €26,681 | -€18,088 | -40.4% |
| Other operating charges | 640/8 | €22,711 | €13,490 | -€9,221 | -40.6% |
| Gross operating margin | 9900 | €457,078 | €444,466 | -€12,612 | -2.8% |
| Operating profit (loss) | 9901 | €23,039 | €33,476 | +€10,437 | +45.3% |
| Financial income | 75/76B | €95 | - | -€95 | |
| Recurring financial income | 75 | €95 | - | -€95 | |
| Financial charges | 65/66B | €20,125 | €15,182 | -€4,943 | -24.6% |
| Recurring financial charges | 65 | €20,125 | €15,182 | -€4,943 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €3,009 | €18,294 | +€15,285 | +508.0% |
| Income taxes | 67/77 | €2,356 | €9,609 | +€7,253 | +307.9% |
| Profit (loss) for the period | 9904 | €653 | €8,685 | +€8,032 | +1230.0% |
| Profit (loss) for the period to be appropriated | 9905 | €653 | €8,685 | +€8,032 | +1230.0% |
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 5 October 2026 via checked.be.