ART-BOUW: what changed
ART-BOUW
Largest movements
- Receivables within one year +€32,904
up €32,904 (+2,377%), from €1,384 to €34,288
of which Trade receivables: +€30,304
- Tangible fixed assets +€23,984
up €23,984 (+412%), from €5,827 to €29,811
of which Furniture and vehicles: +€23,696
- Cash -€1,820
down €1,820 (-6.6%), from €27,772 to €25,952
mainly Receivables within one year (-€32,904) and Investment in fixed assets (net) (-€30,797)
- Reserves +€23,149
up €23,149 (+115%), from €20,079 to €43,228
of which Distributable reserves: +€23,149
- Debts after one year +€16,464
new in 2025: €16,464
- Current portion of long-term debt +€9,447
new in 2025: €9,447
- Profit (loss) carried forward +€2,545
up €2,545, from -€2,545 to €0
- Trade debts +€1,187
up €1,187 (+11.2%), from €10,616 to €11,803
- Gross operating margin +€14,974
up €14,974 (+67.9%), from €22,055 to €37,029
- Taxes +€2,315
new in 2025: €2,315
- Depreciation -€1,557
down €1,557 (-18.6%), from €8,370 to €6,813
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 | €35,316 | €90,463 | +€55,147 | +156% |
| Fixed assets | 21/28 | €5,827 | €29,811 | +€23,984 | +412% |
| Tangible fixed assets | 22/27 | €5,827 | €29,811 | +€23,984 | +412% |
| Plant, machinery and equipment | 23 | €1,844 | €2,132 | +€288 | +15.6% |
| Furniture and vehicles | 24 | €3,984 | €27,679 | +€23,696 | +595% |
| Current assets | 29/58 | €29,488 | €60,651 | +€31,163 | +106% |
| Amounts receivable within one year | 40/41 | €1,384 | €34,288 | +€32,904 | +2,377% |
| Trade receivables | 40 | €0 | €30,304 | +€30,304 | |
| Other amounts receivable | 41 | €1,384 | €3,984 | +€2,600 | +188% |
| Cash at bank and in hand | 54/58 | €27,772 | €25,952 | -€1,820 | -6.6% |
| Deferred charges and accrued income | 490/1 | €333 | €412 | +€79 | +23.8% |
| Total equity and liabilities | 10/49 | €35,316 | €90,463 | +€55,147 | +156% |
| Equity | 10/15 | €23,834 | €49,528 | +€25,694 | +108% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €20,079 | €43,228 | +€23,149 | +115% |
| Tax-exempt reserves | 132 | €6,569 | €6,569 | = | 0.0% |
| Distributable reserves | 133 | €13,510 | €36,659 | +€23,149 | +171% |
| Profit (loss) carried forward | 14 | -€2,545 | €0 | +€2,545 | |
| Amounts payable | 17/49 | €11,482 | €40,935 | +€29,453 | +257% |
| Amounts payable after more than one year | 17 | - | €16,464 | +€16,464 | |
| Financial debts | 170/4 | - | €16,464 | +€16,464 | |
| Amounts payable within one year | 42/48 | €11,482 | €24,471 | +€12,990 | +113% |
| Current portion of amounts payable after more than one year | 42 | - | €9,447 | +€9,447 | |
| Financial debts | 43 | €80 | €1,200 | +€1,120 | +1,401% |
| Credit institutions | 430/8 | €80 | €1,200 | +€1,120 | +1,401% |
| Trade debts | 44 | €10,616 | €11,803 | +€1,187 | +11.2% |
| Suppliers | 440/4 | €10,616 | €11,803 | +€1,187 | +11.2% |
| Taxes, remuneration and social security | 45 | €706 | €1,021 | +€315 | +44.7% |
| Taxes | 450/3 | €706 | €1,021 | +€315 | +44.7% |
| Other amounts payable | 47/48 | €79 | €999 | +€920 | +1,158% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,370 | €6,813 | -€1,557 | -18.6% |
| Other operating charges | 640/8 | €1,824 | €1,554 | -€270 | -14.8% |
| Gross operating margin | 9900 | €22,055 | €37,029 | +€14,974 | +67.9% |
| Operating profit (loss) | 9901 | €11,861 | €28,662 | +€16,801 | +142% |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.7% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.7% |
| Financial charges | 65/66B | €600 | €653 | +€53 | +8.9% |
| Recurring financial charges | 65 | €600 | €653 | +€53 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €11,264 | €28,009 | +€16,745 | +149% |
| Income taxes | 67/77 | - | €2,315 | +€2,315 | |
| Profit (loss) for the period | 9904 | €11,264 | €25,694 | +€14,430 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €11,264 | €25,694 | +€14,430 | +128% |
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 2 November 2026 via checked.be.