Art HeYi: 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 HeYi
Largest movements
- Receivables within one year +€15,073
up €15,073 (+46.7%), from €32,251 to €47,324
of which Other amounts receivable: +€11,259
- Cash -€4,509
down €4,509 (-5.1%), from €88,238 to €83,728
mainly Advances received (-€69,157) and Other debts (-€15,363)
- Stocks and contracts -€3,968
down €3,968 (-17.6%), from €22,530 to €18,562
- Advances received -€69,157
down €69,157 (-97.7%), from €70,757 to €1,600
- Reserves +€39,440
up €39,440 (+80.9%), from €48,780 to €88,220
- Trade debts +€35,410
up €35,410 (+2,904%), from €1,219 to €36,629
- Other debts -€15,363
no longer reported in 2025 (was €15,363)
- Tax, wage and social debts +€13,649
up €13,649 (+112%), from €12,231 to €25,880
of which Taxes: +€13,649
- Gross operating margin +€48,461
up €48,461 (+332%), from €14,602 to €63,063
- Taxes +€16,174
up €16,174 (+362%), from €4,465 to €20,639
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 | €151,520 | €157,943 | +€6,423 | +4.2% |
| Fixed assets | 21/28 | €8,476 | €6,739 | -€1,737 | -20.5% |
| Intangible fixed assets | 21 | €3,736 | €2,462 | -€1,275 | -34.1% |
| Tangible fixed assets | 22/27 | €4,740 | €4,278 | -€462 | -9.7% |
| Plant, machinery and equipment | 23 | €642 | €1,540 | +€898 | +140% |
| Furniture and vehicles | 24 | €4,097 | €2,738 | -€1,360 | -33.2% |
| Current assets | 29/58 | €143,044 | €151,204 | +€8,159 | +5.7% |
| Stocks and contracts in progress | 3 | €22,530 | €18,562 | -€3,968 | -17.6% |
| Stocks | 30/36 | €22,530 | €18,562 | -€3,968 | -17.6% |
| Amounts receivable within one year | 40/41 | €32,251 | €47,324 | +€15,073 | +46.7% |
| Trade receivables | 40 | €32,007 | €35,821 | +€3,814 | +11.9% |
| Other amounts receivable | 41 | €244 | €11,503 | +€11,259 | +4,622% |
| Cash at bank and in hand | 54/58 | €88,238 | €83,728 | -€4,509 | -5.1% |
| Deferred charges and accrued income | 490/1 | €25 | €1,589 | +€1,564 | +6,234% |
| Total equity and liabilities | 10/49 | €151,520 | €157,943 | +€6,423 | +4.2% |
| Equity | 10/15 | €49,781 | €89,222 | +€39,441 | +79.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €48,780 | €88,220 | +€39,440 | +80.9% |
| Distributable reserves | 133 | €48,780 | €88,220 | +€39,440 | +80.9% |
| Profit (loss) carried forward | 14 | €1 | €2 | +€1 | +56.4% |
| Amounts payable | 17/49 | €101,739 | €68,721 | -€33,018 | -32.5% |
| Amounts payable within one year | 42/48 | €99,570 | €64,109 | -€35,461 | -35.6% |
| Trade debts | 44 | €1,219 | €36,629 | +€35,410 | +2,904% |
| Suppliers | 440/4 | €1,219 | €36,629 | +€35,410 | +2,904% |
| Advances received on contracts in progress | 46 | €70,757 | €1,600 | -€69,157 | -97.7% |
| Taxes, remuneration and social security | 45 | €12,231 | €25,880 | +€13,649 | +112% |
| Taxes | 450/3 | €11,128 | €24,776 | +€13,649 | +123% |
| Remuneration and social security | 454/9 | €1,103 | €1,103 | = | 0.0% |
| Other amounts payable | 47/48 | €15,363 | - | -€15,363 | |
| Accrued charges and deferred income | 492/3 | €2,169 | €4,612 | +€2,443 | +113% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,725 | €2,789 | +€64 | +2.3% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Non-recurring operating charges | 66A | €64 | €6 | -€58 | -90.5% |
| Gross operating margin | 9900 | €14,602 | €63,063 | +€48,461 | +332% |
| Operating profit (loss) | 9901 | €11,814 | €59,869 | +€48,055 | +407% |
| Financial income | 75/76B | €156 | €396 | +€240 | +154% |
| Recurring financial income | 75 | €156 | €396 | +€240 | +154% |
| Financial charges | 65/66B | €564 | €185 | -€379 | -67.2% |
| Recurring financial charges | 65 | €564 | €185 | -€379 | -67.2% |
| Profit (loss) for the period before taxes | 9903 | €11,406 | €60,080 | +€48,674 | +427% |
| Income taxes | 67/77 | €4,465 | €20,639 | +€16,174 | +362% |
| Profit (loss) for the period | 9904 | €6,941 | €39,441 | +€32,500 | +468% |
| Profit (loss) for the period to be appropriated | 9905 | €6,941 | €39,441 | +€32,500 | +468% |
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 19 October 2026 via checked.be.