A & P.ART: 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 & P.ART
Largest movements
- Cash +€28,586
up €28,586 (+352%), from €8,126 to €36,712
mainly Investment in fixed assets (net) (+€14,883) and Tax, wage and social debts (+€7,479)
- Tangible fixed assets -€15,578
down €15,578 (-91.4%), from €17,049 to €1,471
of which Furniture and vehicles: -€15,151
- Stocks and contracts -€7,000
no longer reported in 2025 (was €7,000)
- Tax, wage and social debts +€7,479
up €7,479 (+1,323%), from €565 to €8,044
- Trade debts +€4,718
up €4,718 (+74.9%), from €6,297 to €11,016
- Debts after one year -€3,964
no longer reported in 2025 (was €3,964)
- Current portion of long-term debt -€3,670
down €3,670 (-48.1%), from €7,634 to €3,964
- Reserves +€2,898
up €2,898 (+45.9%), from €6,319 to €9,218
- Depreciation -€3,499
down €3,499 (-83.4%), from €4,193 to €694
- Gross operating margin +€1,342
up €1,342 (+18.4%), from €7,281 to €8,623
- Taxes +€1,065
up €1,065 (+202%), from €528 to €1,593
- Financial income -€676
down €676 (-100.0%), from €676 to €0
- Other operating charges +€360
up €360 (+55.0%), from €654 to €1,014
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 | €34,152 | €40,301 | +€6,150 | +18.0% |
| Fixed assets | 21/28 | €17,049 | €1,471 | -€15,578 | -91.4% |
| Tangible fixed assets | 22/27 | €17,049 | €1,471 | -€15,578 | -91.4% |
| Plant, machinery and equipment | 23 | €1,763 | €1,337 | -€426 | -24.2% |
| Furniture and vehicles | 24 | €15,286 | €135 | -€15,151 | -99.1% |
| Current assets | 29/58 | €17,103 | €38,830 | +€21,727 | +127% |
| Stocks and contracts in progress | 3 | €7,000 | - | -€7,000 | |
| Stocks | 30/36 | €7,000 | - | -€7,000 | |
| Amounts receivable within one year | 40/41 | €1,977 | €2,118 | +€141 | +7.1% |
| Other amounts receivable | 41 | €1,977 | €2,118 | +€141 | +7.1% |
| Cash at bank and in hand | 54/58 | €8,126 | €36,712 | +€28,586 | +352% |
| Total equity and liabilities | 10/49 | €34,152 | €40,301 | +€6,150 | +18.0% |
| Equity | 10/15 | €14,379 | €17,278 | +€2,898 | +20.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €6,319 | €9,218 | +€2,898 | +45.9% |
| Distributable reserves | 133 | €6,319 | €9,218 | +€2,898 | +45.9% |
| Amounts payable | 17/49 | €19,772 | €23,024 | +€3,252 | +16.4% |
| Amounts payable after more than one year | 17 | €3,964 | - | -€3,964 | |
| Financial debts | 170/4 | €3,964 | - | -€3,964 | |
| Amounts payable within one year | 42/48 | €15,808 | €23,024 | +€7,216 | +45.6% |
| Current portion of amounts payable after more than one year | 42 | €7,634 | €3,964 | -€3,670 | -48.1% |
| Trade debts | 44 | €6,297 | €11,016 | +€4,718 | +74.9% |
| Suppliers | 440/4 | €6,297 | €11,016 | +€4,718 | +74.9% |
| Taxes, remuneration and social security | 45 | €565 | €8,044 | +€7,479 | +1,323% |
| Taxes | 450/3 | €565 | €8,044 | +€7,479 | +1,323% |
| Other amounts payable | 47/48 | €1,311 | - | -€1,311 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,193 | €694 | -€3,499 | -83.4% |
| Other operating charges | 640/8 | €654 | €1,014 | +€360 | +55.0% |
| Gross operating margin | 9900 | €7,281 | €8,623 | +€1,342 | +18.4% |
| Operating profit (loss) | 9901 | €2,433 | €6,915 | +€4,481 | +184% |
| Financial income | 75/76B | €676 | €0 | -€676 | -100.0% |
| Recurring financial income | 75 | €676 | €0 | -€676 | -100.0% |
| Financial charges | 65/66B | €2,703 | €2,424 | -€279 | -10.3% |
| Recurring financial charges | 65 | €2,703 | €2,424 | -€279 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €407 | €4,491 | +€4,084 | +1,004% |
| Income taxes | 67/77 | €528 | €1,593 | +€1,065 | +202% |
| Profit (loss) for the period | 9904 | -€121 | €2,898 | +€3,019 | |
| Profit (loss) for the period to be appropriated | 9905 | -€121 | €2,898 | +€3,019 |
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.