Art Chapes: 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 Chapes
Largest movements
- Receivables within one year +€9,344
up €9,344 (+42.4%), from €22,048 to €31,392
of which Trade receivables: +€10,551
- Stocks and contracts -€3,730
no longer reported in 2025 (was €3,730)
- Tangible fixed assets -€1,158
down €1,158 (-26.0%), from €4,461 to €3,303
of which Furniture and vehicles: -€968
- Profit (loss) carried forward +€16,961
up €16,961, from -€12,850 to €4,112
- Other debts -€8,680
down €8,680 (-55.9%), from €15,528 to €6,848
- Trade debts -€4,398
no longer reported in 2025 (was €4,398)
- Short-term financial debts +€2,036
up €2,036 (+25.1%), from €8,117 to €10,154
- Tax, wage and social debts -€1,464
down €1,464 (-49.0%), from €2,986 to €1,522
of which Remuneration and social security: -€2,245
- Gross operating margin +€22,086
up €22,086 (+507%), from €4,359 to €26,445
- Taxes -€4,884
down €4,884 (-97.7%), from €5,000 to €116
- Staff costs +€2,797
up €2,797 (+209%), from €1,337 to €4,134
- Financial charges +€876
up €876 (+74.1%), from €1,181 to €2,057
- Other operating charges +€704
up €704 (+53.6%), from €1,314 to €2,018
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,239 | €34,695 | +€4,456 | +14.7% |
| Fixed assets | 21/28 | €4,461 | €3,303 | -€1,158 | -26.0% |
| Tangible fixed assets | 22/27 | €4,461 | €3,303 | -€1,158 | -26.0% |
| Plant, machinery and equipment | 23 | €936 | €746 | -€190 | -20.3% |
| Furniture and vehicles | 24 | €3,525 | €2,557 | -€968 | -27.5% |
| Current assets | 29/58 | €25,778 | €31,392 | +€5,614 | +21.8% |
| Stocks and contracts in progress | 3 | €3,730 | - | -€3,730 | |
| Contracts in progress | 37 | €3,730 | - | -€3,730 | |
| Amounts receivable within one year | 40/41 | €22,048 | €31,392 | +€9,344 | +42.4% |
| Trade receivables | 40 | €17,862 | €28,413 | +€10,551 | +59.1% |
| Other amounts receivable | 41 | €4,186 | €2,979 | -€1,206 | -28.8% |
| Total equity and liabilities | 10/49 | €30,239 | €34,695 | +€4,456 | +14.7% |
| Equity | 10/15 | -€790 | €16,172 | +€16,961 | |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,850 | €4,112 | +€16,961 | |
| Amounts payable | 17/49 | €31,029 | €18,524 | -€12,505 | -40.3% |
| Amounts payable within one year | 42/48 | €31,029 | €18,524 | -€12,505 | -40.3% |
| Financial debts | 43 | €8,117 | €10,154 | +€2,036 | +25.1% |
| Credit institutions | 430/8 | €8,117 | €10,154 | +€2,036 | +25.1% |
| Trade debts | 44 | €4,398 | - | -€4,398 | |
| Suppliers | 440/4 | €4,398 | - | -€4,398 | |
| Taxes, remuneration and social security | 45 | €2,986 | €1,522 | -€1,464 | -49.0% |
| Taxes | 450/3 | €32 | €813 | +€781 | +2,480% |
| Remuneration and social security | 454/9 | €2,954 | €709 | -€2,245 | -76.0% |
| Other amounts payable | 47/48 | €15,528 | €6,848 | -€8,680 | -55.9% |
| Remuneration, social security and pensions | 62 | €1,337 | €4,134 | +€2,797 | +209% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,125 | €1,158 | +€34 | +3.0% |
| Other operating charges | 640/8 | €1,314 | €2,018 | +€704 | +53.6% |
| Gross operating margin | 9900 | €4,359 | €26,445 | +€22,086 | +507% |
| Operating profit (loss) | 9901 | €583 | €19,134 | +€18,551 | +3,181% |
| Financial charges | 65/66B | €1,181 | €2,057 | +€876 | +74.1% |
| Recurring financial charges | 65 | €1,181 | €2,057 | +€876 | +74.1% |
| Profit (loss) for the period before taxes | 9903 | -€598 | €17,078 | +€17,676 | |
| Income taxes | 67/77 | €5,000 | €116 | -€4,884 | -97.7% |
| Profit (loss) for the period | 9904 | -€5,598 | €16,961 | +€22,559 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,598 | €16,961 | +€22,559 |
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 18 October 2026 via checked.be.