ARG IMMO: 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.
ARG IMMO
Largest movements
- Tangible fixed assets -€20,426
down €20,426 (-5.4%), from €377,381 to €356,955
of which Land and buildings: -€14,430
- Receivables within one year -€10,472
down €10,472 (-52.7%), from €19,890 to €9,418
of which Trade receivables: -€9,496
- Financial fixed assets -€4,515
down €4,515 (-59.6%), from €7,580 to €3,065
- Profit (loss) carried forward -€47,224
down €47,224, from €395 to -€46,829
- Other debts +€24,886
up €24,886 (+107%), from €23,221 to €48,107
- Debts after one year -€20,560
down €20,560 (-6.7%), from €309,164 to €288,603
of which Financial debts: -€20,560
- Trade debts +€5,642
up €5,642 (+618%), from €913 to €6,555
- Gross operating margin -€48,115
down €48,115, from €38,028 to -€10,087
- Depreciation +€6,391
up €6,391 (+40.3%), from €15,869 to €22,260
- Financial income -€4,303
down €4,303 (-100%), from €4,303 to €0
- Write-downs +€2,564
new in 2025: €2,564
- Financial charges -€600
down €600 (-4.7%), from €12,764 to €12,165
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 | €405,480 | €370,641 | -€34,839 | -8.6% |
| Fixed assets | 21/28 | €384,961 | €360,020 | -€24,941 | -6.5% |
| Tangible fixed assets | 22/27 | €377,381 | €356,955 | -€20,426 | -5.4% |
| Land and buildings | 22 | €357,376 | €342,946 | -€14,430 | -4.0% |
| Plant, machinery and equipment | 23 | €10,995 | €9,229 | -€1,766 | -16.1% |
| Leasing and similar rights | 25 | €9,010 | €4,780 | -€4,230 | -46.9% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €7,580 | €3,065 | -€4,515 | -59.6% |
| Current assets | 29/58 | €20,519 | €10,621 | -€9,898 | -48.2% |
| Amounts receivable within one year | 40/41 | €19,890 | €9,418 | -€10,472 | -52.7% |
| Trade receivables | 40 | €18,340 | €8,844 | -€9,496 | -51.8% |
| Other amounts receivable | 41 | €1,550 | €574 | -€976 | -63.0% |
| Cash at bank and in hand | 54/58 | €617 | €498 | -€119 | -19.3% |
| Deferred charges and accrued income | 490/1 | €13 | €706 | +€693 | +5,497% |
| Total equity and liabilities | 10/49 | €405,480 | €370,641 | -€34,839 | -8.6% |
| Equity | 10/15 | €43,835 | -€3,389 | -€47,224 | |
| Contributions | 10/11 | €30,940 | €30,940 | = | 0.0% |
| Reserves | 13 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €395 | -€46,829 | -€47,224 | |
| Amounts payable | 17/49 | €361,645 | €374,030 | +€12,385 | +3.4% |
| Amounts payable after more than one year | 17 | €309,164 | €288,603 | -€20,560 | -6.7% |
| Financial debts | 170/4 | €274,664 | €254,103 | -€20,560 | -7.5% |
| Other amounts payable | 178/9 | €34,500 | €34,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €52,481 | €82,948 | +€30,467 | +58.1% |
| Current portion of amounts payable after more than one year | 42 | €19,773 | €20,560 | +€788 | +4.0% |
| Trade debts | 44 | €913 | €6,555 | +€5,642 | +618% |
| Suppliers | 440/4 | €913 | €6,555 | +€5,642 | +618% |
| Taxes, remuneration and social security | 45 | €8,574 | €7,726 | -€849 | -9.9% |
| Taxes | 450/3 | €6,374 | €3,766 | -€2,609 | -40.9% |
| Remuneration and social security | 454/9 | €2,200 | €3,960 | +€1,760 | +80.0% |
| Other amounts payable | 47/48 | €23,221 | €48,107 | +€24,886 | +107% |
| Accrued charges and deferred income | 492/3 | - | €2,479 | +€2,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,869 | €22,260 | +€6,391 | +40.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,564 | +€2,564 | |
| Other operating charges | 640/8 | €146 | €149 | +€3 | +1.8% |
| Gross operating margin | 9900 | €38,028 | -€10,087 | -€48,115 | |
| Operating profit (loss) | 9901 | €22,014 | -€35,059 | -€57,073 | |
| Financial income | 75/76B | €4,303 | €0 | -€4,303 | -100% |
| Recurring financial income | 75 | €4,303 | €0 | -€4,303 | -100% |
| Financial charges | 65/66B | €12,764 | €12,165 | -€600 | -4.7% |
| Recurring financial charges | 65 | €12,764 | €12,165 | -€600 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €13,552 | -€47,224 | -€60,776 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €13,552 | -€47,224 | -€60,776 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,552 | -€47,224 | -€60,776 |
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 29 October 2026 via checked.be.