A. Arteaga: 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.
A. Arteaga
Largest movements
- Tangible fixed assets -€2,400
down €2,400 (-33.3%), from €7,200 to €4,800
- Stocks and contracts -€2,122
down €2,122 (-39.4%), from €5,389 to €3,267
- Current portion of long-term debt -€8,218
no longer reported in 2025 (was €8,218)
- Other debts +€2,961
up €2,961 (+6.2%), from €47,758 to €50,718
- Gross operating margin -€10,188
down €10,188 (-74.5%), from €13,678 to €3,490
- Taxes -€2,022
down €2,022 (-83.0%), from €2,437 to €415
- Financial charges -€617
down €617 (-64.8%), from €953 to €336
- Other operating charges -€387
no longer reported in 2025 (was €387)
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 | €183,498 | €179,330 | -€4,169 | -2.3% |
| Fixed assets | 21/28 | €172,397 | €169,997 | -€2,400 | -1.4% |
| Tangible fixed assets | 22/27 | €7,200 | €4,800 | -€2,400 | -33.3% |
| Plant, machinery and equipment | 23 | €7,200 | €4,800 | -€2,400 | -33.3% |
| Financial fixed assets | 28 | €165,197 | €165,197 | = | 0.0% |
| Current assets | 29/58 | €11,101 | €9,333 | -€1,769 | -15.9% |
| Stocks and contracts in progress | 3 | €5,389 | €3,267 | -€2,122 | -39.4% |
| Stocks | 30/36 | €5,389 | €3,267 | -€2,122 | -39.4% |
| Amounts receivable within one year | 40/41 | €5,569 | €5,967 | +€398 | +7.1% |
| Trade receivables | 40 | €2,993 | €5,967 | +€2,974 | +99.4% |
| Other amounts receivable | 41 | €2,576 | - | -€2,576 | |
| Cash at bank and in hand | 54/58 | €143 | €99 | -€45 | -31.1% |
| Total equity and liabilities | 10/49 | €183,498 | €179,330 | -€4,169 | -2.3% |
| Equity | 10/15 | €124,729 | €125,068 | +€339 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €94,860 | €94,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €93,000 | €93,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,269 | €11,608 | +€339 | +3.0% |
| Amounts payable | 17/49 | €58,769 | €54,262 | -€4,508 | -7.7% |
| Amounts payable within one year | 42/48 | €58,769 | €54,262 | -€4,508 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €8,218 | - | -€8,218 | |
| Trade debts | 44 | €210 | €225 | +€16 | +7.4% |
| Suppliers | 440/4 | €210 | €225 | +€16 | +7.4% |
| Taxes, remuneration and social security | 45 | €2,583 | €3,318 | +€734 | +28.4% |
| Taxes | 450/3 | €2,583 | €3,318 | +€734 | +28.4% |
| Other amounts payable | 47/48 | €47,758 | €50,718 | +€2,961 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,400 | €2,400 | = | 0.0% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €13,678 | €3,490 | -€10,188 | -74.5% |
| Operating profit (loss) | 9901 | €10,891 | €1,090 | -€9,801 | -90.0% |
| Financial charges | 65/66B | €953 | €336 | -€617 | -64.8% |
| Recurring financial charges | 65 | €953 | €336 | -€617 | -64.8% |
| Profit (loss) for the period before taxes | 9903 | €9,937 | €754 | -€9,183 | -92.4% |
| Income taxes | 67/77 | €2,437 | €415 | -€2,022 | -83.0% |
| Profit (loss) for the period | 9904 | €7,500 | €339 | -€7,162 | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,500 | €339 | -€7,162 | -95.5% |
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.