ART CONSTRUCT IMMO: what changed
Two fiscal 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 CONSTRUCT IMMO
Largest movements
- Receivables within one year +€135,360
up €135,360 (+63.7%), from €212,547 to €347,907
of which Trade receivables: +€122,479
- Tangible fixed assets -€30,248
down €30,248 (-3.8%), from €804,615 to €774,367
of which Land and buildings: -€22,380
- Profit (loss) carried forward -€166,755
down €166,755, from €67,398 to -€99,357
- Trade debts +€142,162
up €142,162 (+142.1%), from €100,019 to €242,180
- Tax, wage and social debts +€83,796
up €83,796 (+519.0%), from €16,146 to €99,942
of which Remuneration and social security: +€95,662
- Current portion of long-term debt +€29,403
up €29,403 (+59.0%), from €49,877 to €79,280
- Debts after one year +€12,978
up €12,978 (+2.2%), from €600,368 to €613,347
- Gross operating margin -€245,281
down €245,281 (-35.3%), from €695,183 to €449,902
- Staff costs -€54,600
down €54,600 (-9.9%), from €551,409 to €496,810
- Financial charges -€18,560
down €18,560 (-31.2%), from €59,545 to €40,985
of which Financial charges: -€23,766
- Depreciation +€8,416
up €8,416 (+18.2%), from €46,271 to €54,687
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.
Cash bridge derived
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 | €1,089,151 | €1,192,736 | +€103,585 | +9.5% |
| Fixed assets | 21/28 | €804,615 | €774,367 | -€30,248 | -3.8% |
| Tangible fixed assets | 22/27 | €804,615 | €774,367 | -€30,248 | -3.8% |
| Land and buildings | 22 | €773,040 | €750,660 | -€22,380 | -2.9% |
| Plant, machinery and equipment | 23 | €15,612 | €13,197 | -€2,415 | -15.5% |
| Furniture and vehicles | 24 | €15,963 | €10,510 | -€5,453 | -34.2% |
| Current assets | 29/58 | €284,536 | €418,369 | +€133,833 | +47.0% |
| Stocks and contracts in progress | 3 | €15,265 | €25,137 | +€9,872 | +64.7% |
| Stocks | 30/36 | €15,265 | €25,137 | +€9,872 | +64.7% |
| Amounts receivable within one year | 40/41 | €212,547 | €347,907 | +€135,360 | +63.7% |
| Trade receivables | 40 | €186,244 | €308,723 | +€122,479 | +65.8% |
| Other amounts receivable | 41 | €26,303 | €39,184 | +€12,881 | +49.0% |
| Cash at bank and in hand | 54/58 | €46,528 | €36,790 | -€9,738 | -20.9% |
| Deferred charges and accrued income | 490/1 | €10,196 | €8,536 | -€1,660 | -16.3% |
| Total equity and liabilities | 10/49 | €1,089,151 | €1,192,736 | +€103,585 | +9.5% |
| Equity | 10/15 | €298,298 | €131,543 | -€166,755 | -55.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €212,300 | €212,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Tax-exempt reserves | 132 | €47,750 | €47,750 | = | 0.0% |
| Distributable reserves | 133 | €162,690 | €164,550 | +€1,860 | +1.1% |
| Profit (loss) carried forward | 14 | €67,398 | -€99,357 | -€166,755 | |
| Amounts payable | 17/49 | €790,852 | €1,061,193 | +€270,340 | +34.2% |
| Amounts payable after more than one year | 17 | €600,368 | €613,347 | +€12,978 | +2.2% |
| Financial debts | 170/4 | €600,368 | €613,347 | +€12,978 | +2.2% |
| Amounts payable within one year | 42/48 | €190,484 | €447,846 | +€257,362 | +135.1% |
| Current portion of amounts payable after more than one year | 42 | €49,877 | €79,280 | +€29,403 | +59.0% |
| Trade debts | 44 | €100,019 | €242,180 | +€142,162 | +142.1% |
| Suppliers | 440/4 | €100,019 | €242,180 | +€142,162 | +142.1% |
| Taxes, remuneration and social security | 45 | €16,146 | €99,942 | +€83,796 | +519.0% |
| Taxes | 450/3 | €11,866 | - | -€11,866 | |
| Remuneration and social security | 454/9 | €4,280 | €99,942 | +€95,662 | +2235.1% |
| Other amounts payable | 47/48 | €24,442 | €26,443 | +€2,001 | +8.2% |
| Non-recurring operating income | 76A | - | €8,865 | +€8,865 | |
| Remuneration, social security and pensions | 62 | €551,409 | €496,810 | -€54,600 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,271 | €54,687 | +€8,416 | +18.2% |
| Other operating charges | 640/8 | €18,884 | €24,512 | +€5,628 | +29.8% |
| Gross operating margin | 9900 | €695,183 | €449,902 | -€245,281 | -35.3% |
| Operating profit (loss) | 9901 | €78,619 | -€126,106 | -€204,725 | |
| Financial income | 75/76B | €744 | €943 | +€199 | +26.8% |
| Recurring financial income | 75 | €744 | €943 | +€199 | +26.8% |
| Financial charges | 65/66B | €59,545 | €40,985 | -€18,560 | -31.2% |
| Recurring financial charges | 65 | €57,845 | €34,079 | -€23,766 | -41.1% |
| Non-recurring financial charges | 66B | €1,700 | €6,906 | +€5,206 | +306.2% |
| Profit (loss) for the period before taxes | 9903 | €19,817 | -€166,149 | -€185,966 | |
| Income taxes | 67/77 | €6,926 | €606 | -€6,320 | -91.2% |
| Profit (loss) for the period | 9904 | €12,891 | -€166,755 | -€179,646 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,891 | -€166,755 | -€179,646 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.