ART BOUW: 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.
ART BOUW
Largest movements
- Receivables within one year +€10,290
up €10,290 (+55.1%), from €18,673 to €28,963
of which Other amounts receivable: +€7,569
- Deferred charges and accrued income +€2,574
up €2,574 (+204%), from €1,261 to €3,835
- Tangible fixed assets +€1,304
up €1,304 (+117%), from €1,113 to €2,417
of which Furniture and vehicles: +€757
- Profit (loss) carried forward +€10,937
up €10,937 (+62.0%), from €17,648 to €28,584
- Trade debts +€3,038
up €3,038 (+39.8%), from €7,627 to €10,665
- Tax, wage and social debts +€2,759
up €2,759 (+41.3%), from €6,675 to €9,434
of which Taxes: +€3,759
- Current portion of long-term debt -€2,607
no longer reported in 2025 (was €2,607)
- Gross operating margin +€27,339
up €27,339, from -€7,496 to €19,843
- Financial income -€12,609
down €12,609 (-96.6%), from €13,047 to €438
of which Non-recurring financial income: -€12,985
- Financial charges +€3,278
up €3,278 (+793%), from €413 to €3,691
- Taxes +€2,972
up €2,972 (+364%), from €816 to €3,788
- Other operating charges +€554
up €554 (+170%), from €325 to €879
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 | €40,180 | €54,306 | +€14,126 | +35.2% |
| Fixed assets | 21/28 | €1,113 | €2,417 | +€1,304 | +117% |
| Tangible fixed assets | 22/27 | €1,113 | €2,417 | +€1,304 | +117% |
| Plant, machinery and equipment | 23 | €1,113 | €1,660 | +€547 | +49.1% |
| Furniture and vehicles | 24 | - | €757 | +€757 | |
| Current assets | 29/58 | €39,067 | €51,889 | +€12,822 | +32.8% |
| Amounts receivable within one year | 40/41 | €18,673 | €28,963 | +€10,290 | +55.1% |
| Trade receivables | 40 | €16,901 | €19,622 | +€2,721 | +16.1% |
| Other amounts receivable | 41 | €1,772 | €9,341 | +€7,569 | +427% |
| Cash at bank and in hand | 54/58 | €19,133 | €19,091 | -€42 | -0.2% |
| Deferred charges and accrued income | 490/1 | €1,261 | €3,835 | +€2,574 | +204% |
| Total equity and liabilities | 10/49 | €40,180 | €54,306 | +€14,126 | +35.2% |
| Equity | 10/15 | €23,270 | €34,207 | +€10,937 | +47.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €3,122 | €3,122 | = | 0.0% |
| Distributable reserves | 133 | €3,122 | €3,122 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,648 | €28,584 | +€10,937 | +62.0% |
| Amounts payable | 17/49 | €16,910 | €20,099 | +€3,189 | +18.9% |
| Amounts payable within one year | 42/48 | €16,910 | €20,099 | +€3,189 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €2,607 | - | -€2,607 | |
| Trade debts | 44 | €7,627 | €10,665 | +€3,038 | +39.8% |
| Suppliers | 440/4 | €7,627 | €10,665 | +€3,038 | +39.8% |
| Taxes, remuneration and social security | 45 | €6,675 | €9,434 | +€2,759 | +41.3% |
| Taxes | 450/3 | €5,675 | €9,434 | +€3,759 | +66.2% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €525 | €987 | +€462 | +88.1% |
| Other operating charges | 640/8 | €325 | €879 | +€554 | +170% |
| Gross operating margin | 9900 | -€7,496 | €19,843 | +€27,339 | |
| Operating profit (loss) | 9901 | -€8,346 | €17,978 | +€26,324 | |
| Financial income | 75/76B | €13,047 | €438 | -€12,609 | -96.6% |
| Recurring financial income | 75 | €62 | €438 | +€376 | +610% |
| Non-recurring financial income | 76B | €12,985 | - | -€12,985 | |
| Financial charges | 65/66B | €413 | €3,691 | +€3,278 | +793% |
| Recurring financial charges | 65 | €413 | €3,691 | +€3,278 | +793% |
| Profit (loss) for the period before taxes | 9903 | €4,288 | €14,725 | +€10,437 | +243% |
| Income taxes | 67/77 | €816 | €3,788 | +€2,972 | +364% |
| Profit (loss) for the period | 9904 | €3,472 | €10,937 | +€7,465 | +215% |
| Profit (loss) for the period to be appropriated | 9905 | €3,472 | €10,937 | +€7,465 | +215% |
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 30 October 2026 via checked.be.