ARMROCK: 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.
ARMROCK
Largest movements
- Cash +€86,506
up €86,506 (+99.1%), from €87,280 to €173,786
mainly Net result for the year (+€101,128) and Current investments (+€3,111)
- Receivables within one year +€12,099
up €12,099 (+64.4%), from €18,788 to €30,886
of which Other amounts receivable: +€16,382
- Current investments -€3,111
down €3,111 (-4.7%), from €66,615 to €63,505
- Reserves +€101,128
up €101,128 (+66.3%), from €152,425 to €253,553
- Tax, wage and social debts -€6,164
down €6,164 (-37.9%), from €16,277 to €10,113
- Gross operating margin -€23,522
down €23,522 (-13.0%), from €180,735 to €157,213
- Taxes -€7,630
down €7,630 (-13.8%), from €55,351 to €47,720
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 | €174,379 | €270,172 | +€95,794 | +54.9% |
| Fixed assets | 21/28 | €1,465 | €1,101 | -€364 | -24.8% |
| Tangible fixed assets | 22/27 | €1,465 | €1,101 | -€364 | -24.8% |
| Furniture and vehicles | 24 | €1,465 | €1,101 | -€364 | -24.8% |
| Current assets | 29/58 | €172,914 | €269,071 | +€96,158 | +55.6% |
| Amounts receivable within one year | 40/41 | €18,788 | €30,886 | +€12,099 | +64.4% |
| Trade receivables | 40 | €18,710 | €14,427 | -€4,283 | -22.9% |
| Other amounts receivable | 41 | €78 | €16,460 | +€16,382 | +21110.8% |
| Current investments | 50/53 | €66,615 | €63,505 | -€3,111 | -4.7% |
| Cash at bank and in hand | 54/58 | €87,280 | €173,786 | +€86,506 | +99.1% |
| Deferred charges and accrued income | 490/1 | €231 | €894 | +€664 | +287.4% |
| Total equity and liabilities | 10/49 | €174,379 | €270,172 | +€95,794 | +54.9% |
| Equity | 10/15 | €157,425 | €258,553 | +€101,128 | +64.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €152,425 | €253,553 | +€101,128 | +66.3% |
| Distributable reserves | 133 | €152,425 | €253,553 | +€101,128 | +66.3% |
| Amounts payable | 17/49 | €16,954 | €11,619 | -€5,335 | -31.5% |
| Amounts payable within one year | 42/48 | €16,954 | €11,619 | -€5,335 | -31.5% |
| Trade debts | 44 | €276 | €518 | +€241 | +87.2% |
| Suppliers | 440/4 | €276 | €518 | +€241 | +87.2% |
| Taxes, remuneration and social security | 45 | €16,277 | €10,113 | -€6,164 | -37.9% |
| Taxes | 450/3 | €16,277 | €10,113 | -€6,164 | -37.9% |
| Other amounts payable | 47/48 | €400 | €989 | +€589 | +147.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €455 | €647 | +€193 | +42.3% |
| Other operating charges | 640/8 | €3,060 | €2,609 | -€451 | -14.7% |
| Gross operating margin | 9900 | €180,735 | €157,213 | -€23,522 | -13.0% |
| Operating profit (loss) | 9901 | €177,220 | €153,957 | -€23,263 | -13.1% |
| Financial income | 75/76B | €1,455 | €2,796 | +€1,341 | +92.2% |
| Recurring financial income | 75 | €1,455 | €2,796 | +€1,341 | +92.2% |
| Financial charges | 65/66B | €6,398 | €7,904 | +€1,506 | +23.5% |
| Recurring financial charges | 65 | €6,398 | €7,904 | +€1,506 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €172,277 | €148,848 | -€23,428 | -13.6% |
| Income taxes | 67/77 | €55,351 | €47,720 | -€7,630 | -13.8% |
| Profit (loss) for the period | 9904 | €116,926 | €101,128 | -€15,798 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €116,926 | €101,128 | -€15,798 | -13.5% |
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.