ARGOT CONSTRUCT: 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.
ARGOT CONSTRUCT
Largest movements
- Receivables within one year -€49,038
down €49,038 (-27.1%), from €181,269 to €132,231
of which Trade receivables: -€54,084
- Stocks and contracts -€3,582
down €3,582 (-5.5%), from €64,778 to €61,196
- Cash -€3,275
down €3,275 (-9.9%), from €33,168 to €29,892
mainly Trade debts (-€50,045) and Tax, wage and social debts (-€16,317)
- Trade debts -€50,045
down €50,045 (-43.5%), from €114,951 to €64,906
- Tax, wage and social debts -€16,317
down €16,317 (-52.4%), from €31,146 to €14,830
of which Taxes: -€19,305
- Profit (loss) carried forward +€12,355
up €12,355 (+12.2%), from €100,877 to €113,232
- Gross operating margin +€68,108
up €68,108, from -€5,806 to €62,302
- Other operating charges -€15,400
down €15,400 (-77.5%), from €19,862 to €4,462
- Financial income -€9,542
down €9,542 (-34.4%), from €27,717 to €18,175
of which Non-recurring financial income: -€7,590
- Staff costs +€5,951
up €5,951 (+12.4%), from €47,973 to €53,925
- Depreciation -€4,620
down €4,620 (-70.9%), from €6,518 to €1,898
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 | €291,304 | €236,130 | -€55,174 | -18.9% |
| Fixed assets | 21/28 | €8,060 | €6,162 | -€1,898 | -23.5% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €6,986 | €5,088 | -€1,898 | -27.2% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €279 | €0 | -€279 | -100% |
| Other tangible fixed assets | 26 | €6,707 | €5,088 | -€1,619 | -24.1% |
| Financial fixed assets | 28 | €1,074 | €1,074 | = | 0.0% |
| Current assets | 29/58 | €283,244 | €229,968 | -€53,276 | -18.8% |
| Stocks and contracts in progress | 3 | €64,778 | €61,196 | -€3,582 | -5.5% |
| Stocks | 30/36 | €64,778 | €61,196 | -€3,582 | -5.5% |
| Amounts receivable within one year | 40/41 | €181,269 | €132,231 | -€49,038 | -27.1% |
| Trade receivables | 40 | €130,385 | €76,301 | -€54,084 | -41.5% |
| Other amounts receivable | 41 | €50,884 | €55,930 | +€5,046 | +9.9% |
| Cash at bank and in hand | 54/58 | €33,168 | €29,892 | -€3,275 | -9.9% |
| Deferred charges and accrued income | 490/1 | €4,030 | €6,649 | +€2,619 | +65.0% |
| Total equity and liabilities | 10/49 | €291,304 | €236,130 | -€55,174 | -18.9% |
| Equity | 10/15 | €108,937 | €121,292 | +€12,355 | +11.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,877 | €113,232 | +€12,355 | +12.2% |
| Amounts payable | 17/49 | €182,368 | €114,838 | -€67,530 | -37.0% |
| Amounts payable within one year | 42/48 | €182,368 | €114,706 | -€67,661 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €381 | - | -€381 | |
| Financial debts | 43 | €29,720 | €27,530 | -€2,190 | -7.4% |
| Credit institutions | 430/8 | €29,720 | €27,530 | -€2,190 | -7.4% |
| Trade debts | 44 | €114,951 | €64,906 | -€50,045 | -43.5% |
| Suppliers | 440/4 | €114,951 | €64,906 | -€50,045 | -43.5% |
| Taxes, remuneration and social security | 45 | €31,146 | €14,830 | -€16,317 | -52.4% |
| Taxes | 450/3 | €24,927 | €5,622 | -€19,305 | -77.4% |
| Remuneration and social security | 454/9 | €6,219 | €9,207 | +€2,988 | +48.0% |
| Other amounts payable | 47/48 | €6,169 | €7,440 | +€1,271 | +20.6% |
| Accrued charges and deferred income | 492/3 | - | €132 | +€132 | |
| Non-recurring operating income | 76A | €266 | - | -€266 | |
| Remuneration, social security and pensions | 62 | €47,973 | €53,925 | +€5,951 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,518 | €1,898 | -€4,620 | -70.9% |
| Other operating charges | 640/8 | €19,862 | €4,462 | -€15,400 | -77.5% |
| Gross operating margin | 9900 | -€5,806 | €62,302 | +€68,108 | |
| Operating profit (loss) | 9901 | -€80,159 | €2,017 | +€82,176 | |
| Financial income | 75/76B | €27,717 | €18,175 | -€9,542 | -34.4% |
| Recurring financial income | 75 | €3,089 | €1,137 | -€1,952 | -63.2% |
| Non-recurring financial income | 76B | €24,628 | €17,038 | -€7,590 | -30.8% |
| Financial charges | 65/66B | €7,646 | €7,245 | -€401 | -5.2% |
| Recurring financial charges | 65 | €7,646 | €7,245 | -€401 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | -€60,088 | €12,947 | +€73,035 | |
| Income taxes | 67/77 | €131 | €592 | +€461 | +352% |
| Profit (loss) for the period | 9904 | -€60,219 | €12,355 | +€72,574 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,219 | €12,355 | +€72,574 |
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 26 October 2026 via checked.be.