ART’COUV: 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’COUV
Largest movements
- Tangible fixed assets -€66,149
down €66,149 (-10.6%), from €626,675 to €560,525
of which Furniture and vehicles: -€37,702
- Stocks and contracts -€12,936
down €12,936 (-40.1%), from €32,288 to €19,353
- Cash +€8,381
up €8,381, from €0 to €8,381
mainly Other debts (+€104,223) and Depreciation (+€52,597)
- Other debts +€104,223
up €104,223 (+463.2%), from €22,500 to €126,723
- Profit (loss) carried forward -€92,407
down €92,407 (-83.1%), from €111,237 to €18,830
- Debts after one year -€32,331
down €32,331 (-6.0%), from €537,248 to €504,917
- Trade debts -€27,838
down €27,838 (-64.9%), from €42,876 to €15,039
- Tax, wage and social debts -€14,783
down €14,783 (-89.3%), from €16,553 to €1,769
of which Taxes: -€13,035
- Gross operating margin +€42,091
up €42,091 (+22.8%), from €184,391 to €226,482
- Staff costs +€28,721
up €28,721 (+27.3%), from €105,172 to €133,892
- Other operating charges +€10,768
up €10,768 (+4362.5%), from €247 to €11,015
- Write-downs -€4,907
no longer reported in 2025 (was €4,907)
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 | €778,765 | €707,439 | -€71,325 | -9.2% |
| Fixed assets | 21/28 | €626,675 | €560,525 | -€66,149 | -10.6% |
| Tangible fixed assets | 22/27 | €626,675 | €560,525 | -€66,149 | -10.6% |
| Land and buildings | 22 | €543,203 | €520,098 | -€23,104 | -4.3% |
| Plant, machinery and equipment | 23 | €11,815 | €7,992 | -€3,823 | -32.4% |
| Furniture and vehicles | 24 | €57,077 | €19,374 | -€37,702 | -66.1% |
| Other tangible fixed assets | 26 | €14,580 | €13,061 | -€1,519 | -10.4% |
| Current assets | 29/58 | €152,090 | €146,914 | -€5,176 | -3.4% |
| Stocks and contracts in progress | 3 | €32,288 | €19,353 | -€12,936 | -40.1% |
| Stocks | 30/36 | €32,288 | €19,353 | -€12,936 | -40.1% |
| Amounts receivable within one year | 40/41 | €115,289 | €107,506 | -€7,783 | -6.8% |
| Trade receivables | 40 | €40,009 | €3,334 | -€36,676 | -91.7% |
| Other amounts receivable | 41 | €75,280 | €104,172 | +€28,892 | +38.4% |
| Cash at bank and in hand | 54/58 | €0 | €8,381 | +€8,381 | |
| Deferred charges and accrued income | 490/1 | €4,512 | €11,674 | +€7,162 | +158.7% |
| Total equity and liabilities | 10/49 | €778,765 | €707,439 | -€71,325 | -9.2% |
| Equity | 10/15 | €114,237 | €21,830 | -€92,407 | -80.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,237 | €18,830 | -€92,407 | -83.1% |
| Amounts payable | 17/49 | €664,528 | €685,610 | +€21,082 | +3.2% |
| Amounts payable after more than one year | 17 | €537,248 | €504,917 | -€32,331 | -6.0% |
| Financial debts | 170/4 | €537,248 | €504,917 | -€32,331 | -6.0% |
| Amounts payable within one year | 42/48 | €123,218 | €175,861 | +€52,643 | +42.7% |
| Current portion of amounts payable after more than one year | 42 | €31,456 | €32,331 | +€875 | +2.8% |
| Financial debts | 43 | €9,834 | €0 | -€9,834 | -100.0% |
| Credit institutions | 430/8 | €9,834 | €0 | -€9,834 | -100.0% |
| Trade debts | 44 | €42,876 | €15,039 | -€27,838 | -64.9% |
| Suppliers | 440/4 | €42,876 | €15,039 | -€27,838 | -64.9% |
| Taxes, remuneration and social security | 45 | €16,553 | €1,769 | -€14,783 | -89.3% |
| Taxes | 450/3 | €13,035 | €0 | -€13,035 | -100.0% |
| Remuneration and social security | 454/9 | €3,517 | €1,769 | -€1,748 | -49.7% |
| Other amounts payable | 47/48 | €22,500 | €126,723 | +€104,223 | +463.2% |
| Accrued charges and deferred income | 492/3 | €4,062 | €4,831 | +€769 | +18.9% |
| Remuneration, social security and pensions | 62 | €105,172 | €133,892 | +€28,721 | +27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,288 | €52,597 | +€309 | +0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,907 | - | -€4,907 | |
| Other operating charges | 640/8 | €247 | €11,015 | +€10,768 | +4362.5% |
| Gross operating margin | 9900 | €184,391 | €226,482 | +€42,091 | +22.8% |
| Operating profit (loss) | 9901 | €21,777 | €28,977 | +€7,200 | +33.1% |
| Financial income | 75/76B | €2 | €433 | +€431 | +25381.2% |
| Recurring financial income | 75 | €2 | €433 | +€431 | +25381.2% |
| Financial charges | 65/66B | €22,183 | €20,276 | -€1,906 | -8.6% |
| Recurring financial charges | 65 | €22,183 | €20,276 | -€1,906 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | -€404 | €9,134 | +€9,538 | |
| Income taxes | 67/77 | €140 | €1,541 | +€1,402 | +1003.6% |
| Profit (loss) for the period | 9904 | -€544 | €7,593 | +€8,136 | |
| Profit (loss) for the period to be appropriated | 9905 | -€544 | €7,593 | +€8,136 |
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 10 October 2026 via checked.be.