Accounting Arts: what changed
Accounting Arts
Largest movements
- Receivables after one year -€600,000
no longer reported in 2025 (was €600,000)
- Cash +€512,188
up €512,188 (+713%), from €71,819 to €584,006
mainly Receivables after one year (+€600,000) and Current investments (+€28,472)
- Tangible fixed assets +€31,295
up €31,295 (+510%), from €6,138 to €37,433
of which Land and buildings: +€32,021
- Deferred charges and accrued income +€30,000
up €30,000 (+259%), from €11,605 to €41,605
- Current investments -€28,472
no longer reported in 2025 (was €28,472)
- Reserves -€50,015
down €50,015 (-34.3%), from €145,684 to €95,669
- Other debts -€37,940
down €37,940 (-47.5%), from €79,845 to €41,905
- Current portion of long-term debt +€27,748
up €27,748 (+74.1%), from €37,472 to €65,220
- Debts after one year +€21,369
up €21,369 (+4.7%), from €456,409 to €477,778
- Financial charges +€73,484
up €73,484 (+1,302%), from €5,646 to €79,130
- Gross operating margin +€49,958
up €49,958 (+137%), from €36,337 to €86,295
- Financial income +€25,419
up €25,419 (+212%), from €12,000 to €37,419
of which Financial income: +€25,419
- Depreciation +€1,698
up €1,698 (+35.9%), from €4,734 to €6,432
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €741,855 | €704,113 | -€37,742 | -5.1% |
| Fixed assets | 21/28 | €6,138 | €37,433 | +€31,295 | +510% |
| Tangible fixed assets | 22/27 | €6,138 | €37,433 | +€31,295 | +510% |
| Land and buildings | 22 | - | €32,021 | +€32,021 | |
| Plant, machinery and equipment | 23 | €6,138 | €3,046 | -€3,093 | -50.4% |
| Furniture and vehicles | 24 | - | €2,367 | +€2,367 | |
| Current assets | 29/58 | €735,716 | €666,680 | -€69,037 | -9.4% |
| Amounts receivable after more than one year | 29 | €600,000 | - | -€600,000 | |
| Other amounts receivable | 291 | €600,000 | - | -€600,000 | |
| Amounts receivable within one year | 40/41 | €23,821 | €41,068 | +€17,248 | +72.4% |
| Trade receivables | 40 | €22,618 | €24,206 | +€1,588 | +7.0% |
| Other amounts receivable | 41 | €1,203 | €16,862 | +€15,660 | +1,302% |
| Current investments | 50/53 | €28,472 | - | -€28,472 | |
| Cash at bank and in hand | 54/58 | €71,819 | €584,006 | +€512,188 | +713% |
| Deferred charges and accrued income | 490/1 | €11,605 | €41,605 | +€30,000 | +259% |
| Total equity and liabilities | 10/49 | €741,855 | €704,113 | -€37,742 | -5.1% |
| Equity | 10/15 | €145,684 | €95,669 | -€50,015 | -34.3% |
| Reserves | 13 | €145,684 | €95,669 | -€50,015 | -34.3% |
| Distributable reserves | 133 | €145,684 | €95,669 | -€50,015 | -34.3% |
| Amounts payable | 17/49 | €596,171 | €608,444 | +€12,274 | +2.1% |
| Amounts payable after more than one year | 17 | €456,409 | €477,778 | +€21,369 | +4.7% |
| Financial debts | 170/4 | €456,409 | €477,778 | +€21,369 | +4.7% |
| Amounts payable within one year | 42/48 | €137,761 | €128,667 | -€9,095 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €37,472 | €65,220 | +€27,748 | +74.1% |
| Trade debts | 44 | €312 | - | -€312 | |
| Suppliers | 440/4 | €312 | - | -€312 | |
| Taxes, remuneration and social security | 45 | €20,132 | €21,542 | +€1,410 | +7.0% |
| Taxes | 450/3 | €20,132 | €21,542 | +€1,410 | +7.0% |
| Other amounts payable | 47/48 | €79,845 | €41,905 | -€37,940 | -47.5% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,734 | €6,432 | +€1,698 | +35.9% |
| Other operating charges | 640/8 | €861 | €993 | +€132 | +15.3% |
| Non-recurring operating charges | 66A | €2,486 | - | -€2,486 | |
| Gross operating margin | 9900 | €36,337 | €86,295 | +€49,958 | +137% |
| Operating profit (loss) | 9901 | €28,256 | €78,870 | +€50,614 | +179% |
| Financial income | 75/76B | €12,000 | €37,419 | +€25,419 | +212% |
| Recurring financial income | 75 | €12,000 | €37,419 | +€25,419 | +212% |
| Non-recurring financial income | 76B | €12,000 | - | -€12,000 | |
| Financial charges | 65/66B | €5,646 | €79,130 | +€73,484 | +1,302% |
| Recurring financial charges | 65 | €5,646 | €79,130 | +€73,484 | +1,302% |
| Profit (loss) for the period before taxes | 9903 | €34,610 | €37,159 | +€2,549 | +7.4% |
| Income taxes | 67/77 | €10,325 | €9,908 | -€417 | -4.0% |
| Profit (loss) for the period | 9904 | €24,285 | €27,251 | +€2,967 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,285 | €27,251 | +€2,967 | +12.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.