ART D’EAU GROUP: 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 D’EAU GROUP
Largest movements
- Receivables within one year +€193,950
up €193,950 (+341.0%), from €56,870 to €250,820
- Debts after one year -€944,334
down €944,334 (-12.5%), from €7.6m to €6.6m
- Other debts +€808,295
up €808,295 (+110.8%), from €729,180 to €1.5m
- Reserves +€384,464
up €384,464 (+19.3%), from €2.0m to €2.4m
- Financial income -€1.7m
down €1.7m (-82.5%), from €2.1m to €365,001
- Gross operating margin +€178,276
up €178,276 (+71.9%), from €248,050 to €426,327
- Financial charges -€46,936
down €46,936 (-13.6%), from €344,563 to €297,628
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 | €11,782,982 | €12,051,600 | +€268,618 | +2.3% |
| Fixed assets | 21/28 | €11,695,000 | €11,695,000 | = | 0.0% |
| Financial fixed assets | 28 | €11,695,000 | €11,695,000 | = | 0.0% |
| Current assets | 29/58 | €87,982 | €356,600 | +€268,618 | +305.3% |
| Amounts receivable within one year | 40/41 | €56,870 | €250,820 | +€193,950 | +341.0% |
| Trade receivables | 40 | €56,870 | €250,820 | +€193,950 | +341.0% |
| Cash at bank and in hand | 54/58 | €31,112 | €105,569 | +€74,457 | +239.3% |
| Deferred charges and accrued income | 490/1 | - | €211 | +€211 | |
| Total equity and liabilities | 10/49 | €11,782,982 | €12,051,600 | +€268,618 | +2.3% |
| Equity | 10/15 | €2,292,377 | €2,676,841 | +€384,464 | +16.8% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €1,992,377 | €2,376,841 | +€384,464 | +19.3% |
| Distributable reserves | 133 | €1,992,377 | €2,376,841 | +€384,464 | +19.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,490,604 | €9,374,759 | -€115,846 | -1.2% |
| Amounts payable after more than one year | 17 | €7,580,181 | €6,635,847 | -€944,334 | -12.5% |
| Financial debts | 170/4 | €7,580,181 | €6,635,847 | -€944,334 | -12.5% |
| Amounts payable within one year | 42/48 | €1,717,901 | €2,552,251 | +€834,351 | +48.6% |
| Current portion of amounts payable after more than one year | 42 | €910,992 | €944,334 | +€33,342 | +3.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €71,424 | €65,301 | -€6,123 | -8.6% |
| Suppliers | 440/4 | €71,424 | €65,301 | -€6,123 | -8.6% |
| Taxes, remuneration and social security | 45 | €6,304 | €5,140 | -€1,164 | -18.5% |
| Taxes | 450/3 | €6,304 | €5,140 | -€1,164 | -18.5% |
| Other amounts payable | 47/48 | €729,180 | €1,537,476 | +€808,295 | +110.8% |
| Accrued charges and deferred income | 492/3 | €192,523 | €186,661 | -€5,862 | -3.0% |
| Other operating charges | 640/8 | €449 | €1,236 | +€787 | +175.0% |
| Gross operating margin | 9900 | €248,050 | €426,327 | +€178,276 | +71.9% |
| Operating profit (loss) | 9901 | €247,601 | €425,091 | +€177,490 | +71.7% |
| Financial income | 75/76B | €2,080,820 | €365,001 | -€1.7m | -82.5% |
| Recurring financial income | 75 | €2,080,820 | €365,001 | -€1.7m | -82.5% |
| Financial charges | 65/66B | €344,563 | €297,628 | -€46,936 | -13.6% |
| Recurring financial charges | 65 | €344,563 | €297,628 | -€46,936 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €1,983,857 | €492,464 | -€1.5m | -75.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €1,983,857 | €492,464 | -€1.5m | -75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,983,857 | €492,464 | -€1.5m | -75.2% |
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 5 October 2026 via checked.be.