AR-TEC: 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.
AR-TEC
Largest movements
- Tangible fixed assets +€188,378
up €188,378 (+506%), from €37,256 to €225,634
of which Land and buildings: +€175,467
- Intangible fixed assets -€184,867
no longer reported in 2025 (was €184,867)
- Cash +€10,042
up €10,042 (+47.5%), from €21,141 to €31,183
mainly Net result for the year (+€37,276) and Depreciation (+€26,453)
- Receivables after one year -€10,000
no longer reported in 2025 (was €10,000)
- Receivables within one year -€8,930
down €8,930 (-6.5%), from €136,474 to €127,545
of which Trade receivables: -€23,804
- Trade debts -€44,972
down €44,972 (-94.7%), from €47,507 to €2,535
- Profit (loss) carried forward +€37,276
new in 2025: €37,276
- Short-term financial debts -€25,005
no longer reported in 2025 (was €25,005)
- Debts after one year +€22,729
up €22,729 (+12.0%), from €190,009 to €212,738
- Tax, wage and social debts -€13,723
down €13,723 (-19.8%), from €69,201 to €55,478
of which Remuneration and social security: -€29,833
- Staff costs -€263,842
down €263,842 (-40.2%), from €656,329 to €392,486
- Gross operating margin -€214,504
down €214,504 (-30.8%), from €696,765 to €482,261
- Depreciation +€13,578
up €13,578 (+105%), from €12,874 to €26,453
- Taxes +€9,761
up €9,761 (+207%), from €4,723 to €14,483
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 | €396,100 | €385,484 | -€10,616 | -2.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €222,122 | €225,634 | +€3,511 | +1.6% |
| Intangible fixed assets | 21 | €184,867 | - | -€184,867 | |
| Tangible fixed assets | 22/27 | €37,256 | €225,634 | +€188,378 | +506% |
| Land and buildings | 22 | - | €175,467 | +€175,467 | |
| Plant, machinery and equipment | 23 | €1,648 | €2,799 | +€1,151 | +69.8% |
| Furniture and vehicles | 24 | €35,607 | €36,947 | +€1,339 | +3.8% |
| Other tangible fixed assets | 26 | - | €10,421 | +€10,421 | |
| Current assets | 29/58 | €173,978 | €159,850 | -€14,128 | -8.1% |
| Amounts receivable after more than one year | 29 | €10,000 | - | -€10,000 | |
| Trade receivables | 290 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €136,474 | €127,545 | -€8,930 | -6.5% |
| Trade receivables | 40 | €135,935 | €112,131 | -€23,804 | -17.5% |
| Other amounts receivable | 41 | €539 | €15,413 | +€14,874 | +2,761% |
| Cash at bank and in hand | 54/58 | €21,141 | €31,183 | +€10,042 | +47.5% |
| Deferred charges and accrued income | 490/1 | €6,363 | €1,122 | -€5,241 | -82.4% |
| Total equity and liabilities | 10/49 | €396,100 | €385,484 | -€10,616 | -2.7% |
| Equity | 10/15 | €45,636 | €82,912 | +€37,276 | +81.7% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Reserves | 13 | €34,436 | €34,436 | = | 0.0% |
| Distributable reserves | 133 | €34,436 | €34,436 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €37,276 | +€37,276 | |
| Amounts payable | 17/49 | €350,464 | €302,572 | -€47,892 | -13.7% |
| Amounts payable after more than one year | 17 | €190,009 | €212,738 | +€22,729 | +12.0% |
| Financial debts | 170/4 | €190,009 | €212,738 | +€22,729 | +12.0% |
| Amounts payable within one year | 42/48 | €160,455 | €89,834 | -€70,621 | -44.0% |
| Current portion of amounts payable after more than one year | 42 | €18,742 | €22,102 | +€3,360 | +17.9% |
| Financial debts | 43 | €25,005 | - | -€25,005 | |
| Other loans | 439 | €25,005 | - | -€25,005 | |
| Trade debts | 44 | €47,507 | €2,535 | -€44,972 | -94.7% |
| Suppliers | 440/4 | €47,507 | €2,535 | -€44,972 | -94.7% |
| Taxes, remuneration and social security | 45 | €69,201 | €55,478 | -€13,723 | -19.8% |
| Taxes | 450/3 | €7,239 | €23,349 | +€16,111 | +223% |
| Remuneration and social security | 454/9 | €61,962 | €32,129 | -€29,833 | -48.1% |
| Other amounts payable | 47/48 | - | €9,719 | +€9,719 | |
| Non-recurring operating income | 76A | €1,850 | - | -€1,850 | |
| Remuneration, social security and pensions | 62 | €656,329 | €392,486 | -€263,842 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,874 | €26,453 | +€13,578 | +105% |
| Other operating charges | 640/8 | €7,102 | €1,479 | -€5,622 | -79.2% |
| Non-recurring operating charges | 66A | €5,700 | - | -€5,700 | |
| Gross operating margin | 9900 | €696,765 | €482,261 | -€214,504 | -30.8% |
| Operating profit (loss) | 9901 | €14,761 | €61,843 | +€47,082 | +319% |
| Financial income | 75/76B | €0 | €0 | +€0 | +438% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +438% |
| Financial charges | 65/66B | €5,923 | €10,085 | +€4,161 | +70.3% |
| Recurring financial charges | 65 | €5,923 | €10,085 | +€4,161 | +70.3% |
| Profit (loss) for the period before taxes | 9903 | €8,838 | €51,759 | +€42,921 | +486% |
| Income taxes | 67/77 | €4,723 | €14,483 | +€9,761 | +207% |
| Profit (loss) for the period | 9904 | €4,115 | €37,276 | +€33,161 | +806% |
| Profit (loss) for the period to be appropriated | 9905 | €4,115 | €37,276 | +€33,161 | +806% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.