Art&Fact: 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&Fact
Largest movements
- Receivables within one year -€17,264
down €17,264 (-19.2%), from €90,113 to €72,849
of which Other amounts receivable: -€20,606
- Tangible fixed assets -€8,287
down €8,287 (-6.4%), from €129,567 to €121,280
of which Land and buildings: -€8,106
- Reserves -€24,837
down €24,837 (-53.5%), from €46,456 to €21,619
of which Distributable reserves: -€24,837
- Debts after one year -€7,143
down €7,143 (-85.1%), from €8,394 to €1,251
- Trade debts +€6,122
up €6,122 (+14.3%), from €42,889 to €49,011
- Gross operating margin -€42,354
down €42,354, from €33,282 to -€9,072
- Financial charges -€4,664
down €4,664 (-36.9%), from €12,624 to €7,959
- Taxes -€2,836
down €2,836 (-95.2%), from €2,978 to €142
- Financial income +€2,289
up €2,289 (+7,628,900%), from €0 to €2,289
of which Non-recurring financial income: +€2,289
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
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 | €221,935 | €196,267 | -€25,668 | -11.6% |
| Fixed assets | 21/28 | €129,567 | €121,280 | -€8,287 | -6.4% |
| Tangible fixed assets | 22/27 | €129,567 | €121,280 | -€8,287 | -6.4% |
| Land and buildings | 22 | €129,030 | €120,924 | -€8,106 | -6.3% |
| Furniture and vehicles | 24 | €537 | €356 | -€181 | -33.6% |
| Current assets | 29/58 | €92,368 | €74,987 | -€17,381 | -18.8% |
| Amounts receivable within one year | 40/41 | €90,113 | €72,849 | -€17,264 | -19.2% |
| Trade receivables | 40 | €7,256 | €10,599 | +€3,342 | +46.1% |
| Other amounts receivable | 41 | €82,856 | €62,250 | -€20,606 | -24.9% |
| Cash at bank and in hand | 54/58 | €43 | €569 | +€526 | +1,209% |
| Deferred charges and accrued income | 490/1 | €2,212 | €1,569 | -€643 | -29.1% |
| Total equity and liabilities | 10/49 | €221,935 | €196,267 | -€25,668 | -11.6% |
| Equity | 10/15 | €107,959 | €83,122 | -€24,837 | -23.0% |
| Contributions | 10/11 | €61,503 | €61,503 | = | 0.0% |
| Capital | 10 | €61,503 | €61,503 | = | 0.0% |
| Issued capital | 100 | €61,503 | €61,503 | = | 0.0% |
| Reserves | 13 | €46,456 | €21,619 | -€24,837 | -53.5% |
| Non-distributable reserves | 130/1 | €5,571 | €5,571 | = | 0.0% |
| Legal reserve | 130 | €5,571 | €5,571 | = | 0.0% |
| Distributable reserves | 133 | €40,885 | €16,048 | -€24,837 | -60.7% |
| Amounts payable | 17/49 | €113,976 | €113,145 | -€831 | -0.7% |
| Amounts payable after more than one year | 17 | €8,394 | €1,251 | -€7,143 | -85.1% |
| Financial debts | 170/4 | €8,394 | €1,251 | -€7,143 | -85.1% |
| Amounts payable within one year | 42/48 | €105,582 | €111,894 | +€6,312 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €6,556 | €7,143 | +€587 | +8.9% |
| Financial debts | 43 | €52,024 | €50,862 | -€1,162 | -2.2% |
| Credit institutions | 430/8 | €52,024 | €50,862 | -€1,162 | -2.2% |
| Trade debts | 44 | €42,889 | €49,011 | +€6,122 | +14.3% |
| Suppliers | 440/4 | €42,889 | €49,011 | +€6,122 | +14.3% |
| Taxes, remuneration and social security | 45 | €4,113 | €4,423 | +€310 | +7.5% |
| Taxes | 450/3 | €4,113 | €3,423 | -€690 | -16.8% |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | - | €455 | +€455 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,409 | €8,287 | -€122 | -1.4% |
| Other operating charges | 640/8 | €1,619 | €1,665 | +€46 | +2.8% |
| Gross operating margin | 9900 | €33,282 | -€9,072 | -€42,354 | |
| Operating profit (loss) | 9901 | €23,254 | -€19,024 | -€42,278 | |
| Financial income | 75/76B | €0 | €2,289 | +€2,289 | +7,628,900% |
| Recurring financial income | 75 | €0 | €2,289 | +€2,289 | +7,628,900% |
| Non-recurring financial income | 76B | - | €2,289 | +€2,289 | |
| Financial charges | 65/66B | €12,624 | €7,959 | -€4,664 | -36.9% |
| Recurring financial charges | 65 | €12,624 | €7,959 | -€4,664 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | €10,631 | -€24,695 | -€35,325 | |
| Income taxes | 67/77 | €2,978 | €142 | -€2,836 | -95.2% |
| Profit (loss) for the period | 9904 | €7,652 | -€24,837 | -€32,489 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,652 | -€24,837 | -€32,489 |
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 21 October 2026 via checked.be.