ARMSI LOGISTIC: 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.
ARMSI LOGISTIC
Largest movements
- Deferred charges and accrued income +€17,022
new in 2025: €17,022
- Tangible fixed assets +€11,033
up €11,033 (+48.1%), from €22,932 to €33,965
- Receivables within one year -€8,331
down €8,331 (-48.8%), from €17,068 to €8,737
of which Trade receivables: -€17,068
- Reserves +€23,000
up €23,000 (+82.1%), from €28,000 to €51,000
- Tax, wage and social debts -€4,304
down €4,304 (-48.7%), from €8,839 to €4,535
- Trade debts +€2,351
new in 2025: €2,351
- Other debts -€1,802
no longer reported in 2025 (was €1,802)
- Depreciation +€2,550
up €2,550 (+27.7%), from €9,216 to €11,766
- Gross operating margin +€2,523
up €2,523 (+6.4%), from €39,241 to €41,764
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 | €59,085 | €78,688 | +€19,603 | +33.2% |
| Fixed assets | 21/28 | €25,132 | €36,165 | +€11,033 | +43.9% |
| Tangible fixed assets | 22/27 | €22,932 | €33,965 | +€11,033 | +48.1% |
| Furniture and vehicles | 24 | €22,932 | €33,965 | +€11,033 | +48.1% |
| Financial fixed assets | 28 | €2,200 | €2,200 | = | 0.0% |
| Current assets | 29/58 | €33,953 | €42,524 | +€8,570 | +25.2% |
| Amounts receivable within one year | 40/41 | €17,068 | €8,737 | -€8,331 | -48.8% |
| Trade receivables | 40 | €17,068 | - | -€17,068 | |
| Other amounts receivable | 41 | - | €8,737 | +€8,737 | |
| Cash at bank and in hand | 54/58 | €16,885 | €16,765 | -€120 | -0.7% |
| Deferred charges and accrued income | 490/1 | - | €17,022 | +€17,022 | |
| Total equity and liabilities | 10/49 | €59,085 | €78,688 | +€19,603 | +33.2% |
| Equity | 10/15 | €48,444 | €71,803 | +€23,359 | +48.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €28,000 | €51,000 | +€23,000 | +82.1% |
| Distributable reserves | 133 | €28,000 | €51,000 | +€23,000 | +82.1% |
| Profit (loss) carried forward | 14 | €444 | €803 | +€359 | +81.0% |
| Amounts payable | 17/49 | €10,641 | €6,886 | -€3,756 | -35.3% |
| Amounts payable within one year | 42/48 | €10,641 | €6,886 | -€3,756 | -35.3% |
| Trade debts | 44 | - | €2,351 | +€2,351 | |
| Suppliers | 440/4 | - | €2,351 | +€2,351 | |
| Taxes, remuneration and social security | 45 | €8,839 | €4,535 | -€4,304 | -48.7% |
| Taxes | 450/3 | €8,839 | €4,535 | -€4,304 | -48.7% |
| Other amounts payable | 47/48 | €1,802 | - | -€1,802 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,216 | €11,766 | +€2,550 | +27.7% |
| Other operating charges | 640/8 | €156 | €60 | -€96 | -61.6% |
| Gross operating margin | 9900 | €39,241 | €41,764 | +€2,523 | +6.4% |
| Operating profit (loss) | 9901 | €29,869 | €29,937 | +€68 | +0.2% |
| Financial income | 75/76B | - | €237 | +€237 | |
| Recurring financial income | 75 | - | €237 | +€237 | |
| Financial charges | 65/66B | €305 | €697 | +€392 | +128% |
| Recurring financial charges | 65 | €305 | €697 | +€392 | +128% |
| Profit (loss) for the period before taxes | 9903 | €29,563 | €29,477 | -€87 | -0.3% |
| Income taxes | 67/77 | €6,115 | €6,117 | +€3 | 0.0% |
| Profit (loss) for the period | 9904 | €23,449 | €23,359 | -€90 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,449 | €23,359 | -€90 | -0.4% |
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 19 October 2026 via checked.be.