ARMONIA: 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.
ARMONIA
Largest movements
- Financial fixed assets +€1.1m
up €1.1m (+58,011%), from €1,829 to €1.1m
- Cash -€727,622
down €727,622 (-99.4%), from €731,969 to €4,347
mainly Investment in fixed assets (net) (-€1.0m) and Receivables after one year (-€190,000)
- Receivables after one year +€190,000
new in 2025: €190,000
- Current investments -€125,276
down €125,276 (-69.5%), from €180,289 to €55,013
- Tangible fixed assets -€30,944
no longer reported in 2025 (was €30,944)
- Debts after one year +€262,625
up €262,625 (+103%), from €255,000 to €517,625
- Profit (loss) carried forward +€69,467
up €69,467 (+15.6%), from €445,610 to €515,077
- Other debts +€34,868
up €34,868 (+158%), from €22,132 to €57,000
- Trade debts -€14,527
down €14,527 (-93.6%), from €15,526 to €998
- Financial income +€75,694
up €75,694 (+235%), from €32,230 to €107,923
- Staff costs -€26,043
down €26,043 (-69.7%), from €37,349 to €11,307
- Gross operating margin +€20,106
up €20,106 (+65.9%), from -€30,516 to -€10,410
- Taxes +€10,734
up €10,734 (+8,976%), from €120 to €10,854
- Depreciation -€3,293
no longer reported in 2025 (was €3,293)
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 | €972,956 | €1,330,767 | +€357,811 | +36.8% |
| Fixed assets | 21/28 | €32,773 | €1,062,625 | +€1.0m | +3,142% |
| Tangible fixed assets | 22/27 | €30,944 | - | -€30,944 | |
| Furniture and vehicles | 24 | €30,944 | - | -€30,944 | |
| Financial fixed assets | 28 | €1,829 | €1,062,625 | +€1.1m | +58,011% |
| Current assets | 29/58 | €940,183 | €268,142 | -€672,041 | -71.5% |
| Amounts receivable after more than one year | 29 | - | €190,000 | +€190,000 | |
| Other amounts receivable | 291 | - | €190,000 | +€190,000 | |
| Stocks and contracts in progress | 3 | €5,229 | - | -€5,229 | |
| Stocks | 30/36 | €5,229 | - | -€5,229 | |
| Amounts receivable within one year | 40/41 | €20,499 | €18,783 | -€1,716 | -8.4% |
| Trade receivables | 40 | - | €225 | +€225 | |
| Other amounts receivable | 41 | €20,499 | €18,558 | -€1,941 | -9.5% |
| Current investments | 50/53 | €180,289 | €55,013 | -€125,276 | -69.5% |
| Cash at bank and in hand | 54/58 | €731,969 | €4,347 | -€727,622 | -99.4% |
| Deferred charges and accrued income | 490/1 | €2,198 | - | -€2,198 | |
| Total equity and liabilities | 10/49 | €972,956 | €1,330,767 | +€357,811 | +36.8% |
| Equity | 10/15 | €676,034 | €745,501 | +€69,467 | +10.3% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €167,925 | €167,925 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,470 | €6,470 | = | 0.0% |
| Legal reserve | 130 | €6,470 | €6,470 | = | 0.0% |
| Distributable reserves | 133 | €161,455 | €161,455 | = | 0.0% |
| Profit (loss) carried forward | 14 | €445,610 | €515,077 | +€69,467 | +15.6% |
| Amounts payable | 17/49 | €296,922 | €585,266 | +€288,344 | +97.1% |
| Amounts payable after more than one year | 17 | €255,000 | €517,625 | +€262,625 | +103% |
| Other amounts payable | 178/9 | €255,000 | €517,625 | +€262,625 | +103% |
| Amounts payable within one year | 42/48 | €41,922 | €67,641 | +€25,719 | +61.3% |
| Trade debts | 44 | €15,526 | €998 | -€14,527 | -93.6% |
| Suppliers | 440/4 | €15,526 | €998 | -€14,527 | -93.6% |
| Taxes, remuneration and social security | 45 | €4,264 | €9,642 | +€5,378 | +126% |
| Taxes | 450/3 | - | €9,642 | +€9,642 | |
| Remuneration and social security | 454/9 | €4,264 | - | -€4,264 | |
| Other amounts payable | 47/48 | €22,132 | €57,000 | +€34,868 | +158% |
| Remuneration, social security and pensions | 62 | €37,349 | €11,307 | -€26,043 | -69.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,293 | - | -€3,293 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €227 | +€227 | |
| Other operating charges | 640/8 | €2,054 | €4,621 | +€2,567 | +125% |
| Gross operating margin | 9900 | -€30,516 | -€10,410 | +€20,106 | +65.9% |
| Operating profit (loss) | 9901 | -€73,213 | -€26,565 | +€46,647 | +63.7% |
| Financial income | 75/76B | €32,230 | €107,923 | +€75,694 | +235% |
| Recurring financial income | 75 | €32,230 | €107,923 | +€75,694 | +235% |
| Financial charges | 65/66B | €623 | €1,038 | +€414 | +66.4% |
| Recurring financial charges | 65 | €623 | €1,038 | +€414 | +66.4% |
| Profit (loss) for the period before taxes | 9903 | -€41,606 | €80,321 | +€121,927 | |
| Income taxes | 67/77 | €120 | €10,854 | +€10,734 | +8,976% |
| Profit (loss) for the period | 9904 | -€41,726 | €69,467 | +€111,193 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,726 | €69,467 | +€111,193 |
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.