A R T S: 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 R T S
Largest movements
- Receivables after one year -€250,000
down €250,000 (-100%), from €250,000 to €0
- Receivables within one year -€20,820
down €20,820 (-83.3%), from €24,984 to €4,164
of which Trade receivables: -€23,860
- Profit (loss) carried forward -€197,222
down €197,222 (-67.8%), from -€290,906 to -€488,127
- Debts after one year -€53,750
down €53,750 (-17.6%), from €305,000 to €251,250
- Trade debts -€16,311
down €16,311 (-98.2%), from €16,604 to €293
- Other debts -€3,804
down €3,804 (-31.8%), from €11,952 to €8,148
- Other operating charges +€214,769
new in 2025: €214,769
- Gross operating margin +€19,430
up €19,430, from -€1,632 to €17,799
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 | €277,409 | €6,323 | -€271,086 | -97.7% |
| Current assets | 29/58 | €277,409 | €6,323 | -€271,086 | -97.7% |
| Amounts receivable after more than one year | 29 | €250,000 | €0 | -€250,000 | -100% |
| Other amounts receivable | 291 | €250,000 | €0 | -€250,000 | -100% |
| Amounts receivable within one year | 40/41 | €24,984 | €4,164 | -€20,820 | -83.3% |
| Trade receivables | 40 | €23,860 | €0 | -€23,860 | -100% |
| Other amounts receivable | 41 | €1,124 | €4,164 | +€3,040 | +270% |
| Cash at bank and in hand | 54/58 | €2,426 | €2,160 | -€266 | -11.0% |
| Total equity and liabilities | 10/49 | €277,409 | €6,323 | -€271,086 | -97.7% |
| Equity | 10/15 | -€56,146 | -€253,368 | -€197,222 | -351% |
| Contributions | 10/11 | €215,000 | €215,000 | = | 0.0% |
| Reserves | 13 | €19,760 | €19,760 | = | 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% |
| Distributable reserves | 133 | €17,900 | €17,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€290,906 | -€488,127 | -€197,222 | -67.8% |
| Amounts payable | 17/49 | €333,556 | €259,691 | -€73,864 | -22.1% |
| Amounts payable after more than one year | 17 | €305,000 | €251,250 | -€53,750 | -17.6% |
| Financial debts | 170/4 | €305,000 | €251,250 | -€53,750 | -17.6% |
| Amounts payable within one year | 42/48 | €28,556 | €8,441 | -€20,114 | -70.4% |
| Trade debts | 44 | €16,604 | €293 | -€16,311 | -98.2% |
| Suppliers | 440/4 | €16,604 | €293 | -€16,311 | -98.2% |
| Other amounts payable | 47/48 | €11,952 | €8,148 | -€3,804 | -31.8% |
| Other operating charges | 640/8 | - | €214,769 | +€214,769 | |
| Gross operating margin | 9900 | -€1,632 | €17,799 | +€19,430 | |
| Operating profit (loss) | 9901 | -€1,632 | -€196,970 | -€195,339 | -11,972% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €149 | €252 | +€103 | +69.1% |
| Recurring financial charges | 65 | €149 | €252 | +€103 | +69.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,781 | -€197,222 | -€195,441 | -10,977% |
| Profit (loss) for the period | 9904 | -€1,781 | -€197,222 | -€195,441 | -10,977% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,781 | -€197,222 | -€195,441 | -10,977% |
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 24 October 2026 via checked.be.