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
- Stocks and contracts +€12,177
up €12,177 (+110.7%), from €11,000 to €23,177
- Receivables within one year +€11,028
up €11,028 (+619.8%), from €1,779 to €12,807
of which Trade receivables: +€10,823
- Cash +€1,000
up €1,000 (+63.5%), from €1,574 to €2,575
mainly Trade debts (+€12,081) and Net result for the year (+€8,761)
- Trade debts +€12,081
up €12,081 (+1664.3%), from €726 to €12,806
- Profit (loss) carried forward +€8,761
up €8,761 (+4.4%), from -€200,827 to -€192,066
- Other debts +€3,345
up €3,345 (+5.5%), from €60,874 to €64,219
- Gross operating margin +€6,023
up €6,023 (+180.7%), from €3,333 to €9,356
- Depreciation -€166
down €166 (-89.6%), from €185 to €19
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 | €14,373 | €38,559 | +€24,186 | +168.3% |
| Fixed assets | 21/28 | €19 | - | -€19 | |
| Tangible fixed assets | 22/27 | €19 | - | -€19 | |
| Furniture and vehicles | 24 | €19 | - | -€19 | |
| Current assets | 29/58 | €14,353 | €38,559 | +€24,206 | +168.6% |
| Stocks and contracts in progress | 3 | €11,000 | €23,177 | +€12,177 | +110.7% |
| Stocks | 30/36 | €11,000 | €23,177 | +€12,177 | +110.7% |
| Amounts receivable within one year | 40/41 | €1,779 | €12,807 | +€11,028 | +619.8% |
| Trade receivables | 40 | €1,651 | €12,473 | +€10,823 | +655.6% |
| Other amounts receivable | 41 | €128 | €334 | +€206 | +160.1% |
| Cash at bank and in hand | 54/58 | €1,574 | €2,575 | +€1,000 | +63.5% |
| Total equity and liabilities | 10/49 | €14,373 | €38,559 | +€24,186 | +168.3% |
| Equity | 10/15 | -€182,227 | -€173,466 | +€8,761 | +4.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Profit (loss) carried forward | 14 | -€200,827 | -€192,066 | +€8,761 | +4.4% |
| Amounts payable | 17/49 | €196,600 | €212,025 | +€15,425 | +7.8% |
| Amounts payable after more than one year | 17 | €135,000 | €135,000 | = | 0.0% |
| Other amounts payable | 178/9 | €135,000 | €135,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €61,600 | €77,025 | +€15,425 | +25.0% |
| Financial debts | 43 | €0 | - | -€0 | |
| Credit institutions | 430/8 | €0 | - | -€0 | |
| Trade debts | 44 | €726 | €12,806 | +€12,081 | +1664.3% |
| Suppliers | 440/4 | €726 | €12,806 | +€12,081 | +1664.3% |
| Other amounts payable | 47/48 | €60,874 | €64,219 | +€3,345 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185 | €19 | -€166 | -89.6% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €3,333 | €9,356 | +€6,023 | +180.7% |
| Operating profit (loss) | 9901 | €2,760 | €8,937 | +€6,177 | +223.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €153 | €176 | +€23 | +15.0% |
| Recurring financial charges | 65 | €153 | €176 | +€23 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €2,607 | €8,761 | +€6,154 | +236.0% |
| Profit (loss) for the period | 9904 | €2,607 | €8,761 | +€6,154 | +236.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,607 | €8,761 | +€6,154 | +236.0% |
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 4 October 2026 via checked.be.