ART & FINANCE: what changed
ART & FINANCE
Largest movements
- Receivables within one year -€6,056
down €6,056 (-8.5%), from €70,941 to €64,885
of which Other amounts receivable: -€5,618
- Tangible fixed assets -€4,670
down €4,670 (-8.4%), from €55,408 to €50,738
of which Land and buildings: -€4,082
- Cash +€3,791
up €3,791 (+91.5%), from €4,143 to €7,934
mainly Receivables within one year (+€6,056) and Depreciation (+€4,670)
- Debts after one year -€8,238
down €8,238 (-51.3%), from €16,061 to €7,823
- Other debts -€3,734
down €3,734 (-29.2%), from €12,785 to €9,051
- Reserves +€2,709
up €2,709 (+1.6%), from €172,901 to €175,610
- Financial income -€33,001
down €33,001 (-92.9%), from €35,527 to €2,525
- Gross operating margin +€11,263
up €11,263 (+594%), from €1,895 to €13,158
- Other operating charges -€1,645
down €1,645 (-27.8%), from €5,927 to €4,281
- Financial charges -€230
down €230 (-5.4%), from €4,254 to €4,024
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €220,090 | €214,459 | -€5,631 | -2.6% |
| Fixed assets | 21/28 | €55,408 | €50,738 | -€4,670 | -8.4% |
| Tangible fixed assets | 22/27 | €55,408 | €50,738 | -€4,670 | -8.4% |
| Land and buildings | 22 | €53,279 | €49,197 | -€4,082 | -7.7% |
| Plant, machinery and equipment | 23 | €2,129 | €1,542 | -€587 | -27.6% |
| Current assets | 29/58 | €164,682 | €163,721 | -€961 | -0.6% |
| Stocks and contracts in progress | 3 | €4,178 | €4,098 | -€80 | -1.9% |
| Stocks | 30/36 | €4,178 | €4,098 | -€80 | -1.9% |
| Amounts receivable within one year | 40/41 | €70,941 | €64,885 | -€6,056 | -8.5% |
| Trade receivables | 40 | €2,979 | €2,541 | -€438 | -14.7% |
| Other amounts receivable | 41 | €67,962 | €62,344 | -€5,618 | -8.3% |
| Current investments | 50/53 | €85,000 | €85,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,143 | €7,934 | +€3,791 | +91.5% |
| Deferred charges and accrued income | 490/1 | €420 | €1,804 | +€1,384 | +330% |
| Total equity and liabilities | 10/49 | €220,090 | €214,459 | -€5,631 | -2.6% |
| Equity | 10/15 | €179,101 | €181,810 | +€2,709 | +1.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €172,901 | €175,610 | +€2,709 | +1.6% |
| Distributable reserves | 133 | €172,901 | €175,610 | +€2,709 | +1.6% |
| Amounts payable | 17/49 | €40,988 | €32,649 | -€8,339 | -20.3% |
| Amounts payable after more than one year | 17 | €16,061 | €7,823 | -€8,238 | -51.3% |
| Financial debts | 170/4 | €16,061 | €7,823 | -€8,238 | -51.3% |
| Amounts payable within one year | 42/48 | €24,928 | €24,826 | -€101 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €7,940 | €8,238 | +€298 | +3.8% |
| Trade debts | 44 | €1,945 | €2,737 | +€792 | +40.7% |
| Suppliers | 440/4 | €1,945 | €2,737 | +€792 | +40.7% |
| Advances received on contracts in progress | 46 | €1,230 | €2,670 | +€1,440 | +117% |
| Taxes, remuneration and social security | 45 | €1,028 | €2,131 | +€1,103 | +107% |
| Taxes | 450/3 | €1,028 | €2,131 | +€1,103 | +107% |
| Other amounts payable | 47/48 | €12,785 | €9,051 | -€3,734 | -29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,673 | €4,670 | -€4 | -0.1% |
| Other operating charges | 640/8 | €5,927 | €4,281 | -€1,645 | -27.8% |
| Gross operating margin | 9900 | €1,895 | €13,158 | +€11,263 | +594% |
| Operating profit (loss) | 9901 | -€8,705 | €4,208 | +€12,912 | |
| Financial income | 75/76B | €35,527 | €2,525 | -€33,001 | -92.9% |
| Recurring financial income | 75 | €35,527 | €2,525 | -€33,001 | -92.9% |
| Financial charges | 65/66B | €4,254 | €4,024 | -€230 | -5.4% |
| Recurring financial charges | 65 | €4,254 | €4,024 | -€230 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €22,569 | €2,709 | -€19,860 | -88.0% |
| Profit (loss) for the period | 9904 | €22,569 | €2,709 | -€19,860 | -88.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,569 | €2,709 | -€19,860 | -88.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.