ART Holding: what changed
ART Holding
Largest movements
- Tangible fixed assets +€15,964
new in 2025: €15,964
- Receivables within one year +€15,406
up €15,406 (+16.0%), from €96,024 to €111,429
of which Other amounts receivable: +€18,157
- Current investments +€5,000
new in 2025: €5,000
- Cash +€2,886
up €2,886 (+2.3%), from €123,158 to €126,044
mainly Other debts (+€106,429) and Net result for the year (+€44,046)
- Other debts +€106,429
new in 2025: €106,429
- Reserves -€61,336
down €61,336 (-31.5%), from €194,670 to €133,334
of which Distributable reserves: -€61,336
- Trade debts -€3,098
down €3,098 (-99.0%), from €3,131 to €33
- Gross operating margin -€22,707
down €22,707 (-28.0%), from €81,226 to €58,518
- Taxes -€6,028
down €6,028 (-26.5%), from €22,754 to €16,725
- Financial income +€1,075
up €1,075 (+41.6%), from €2,580 to €3,655
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 | €221,181 | €260,437 | +€39,256 | +17.7% |
| Fixed assets | 21/28 | €2,000 | €17,964 | +€15,964 | +798% |
| Tangible fixed assets | 22/27 | - | €15,964 | +€15,964 | |
| Furniture and vehicles | 24 | - | €15,964 | +€15,964 | |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €219,181 | €242,473 | +€23,292 | +10.6% |
| Amounts receivable within one year | 40/41 | €96,024 | €111,429 | +€15,406 | +16.0% |
| Trade receivables | 40 | €23,660 | €20,909 | -€2,751 | -11.6% |
| Other amounts receivable | 41 | €72,363 | €90,520 | +€18,157 | +25.1% |
| Current investments | 50/53 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €123,158 | €126,044 | +€2,886 | +2.3% |
| Total equity and liabilities | 10/49 | €221,181 | €260,437 | +€39,256 | +17.7% |
| Equity | 10/15 | €200,870 | €139,534 | -€61,336 | -30.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €194,670 | €133,334 | -€61,336 | -31.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €192,810 | €131,474 | -€61,336 | -31.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €20,311 | €120,903 | +€100,591 | +495% |
| Amounts payable within one year | 42/48 | €19,541 | €120,903 | +€101,361 | +519% |
| Trade debts | 44 | €3,131 | €33 | -€3,098 | -99.0% |
| Suppliers | 440/4 | €3,131 | €33 | -€3,098 | -99.0% |
| Taxes, remuneration and social security | 45 | €16,410 | €14,440 | -€1,970 | -12.0% |
| Taxes | 450/3 | €16,410 | €14,440 | -€1,970 | -12.0% |
| Other amounts payable | 47/48 | - | €106,429 | +€106,429 | |
| Accrued charges and deferred income | 492/3 | €770 | €0 | -€770 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €581 | +€581 | |
| Other operating charges | 640/8 | €694 | €520 | -€175 | -25.1% |
| Gross operating margin | 9900 | €81,226 | €58,518 | -€22,707 | -28.0% |
| Operating profit (loss) | 9901 | €80,531 | €57,417 | -€23,114 | -28.7% |
| Financial income | 75/76B | €2,580 | €3,655 | +€1,075 | +41.6% |
| Recurring financial income | 75 | €2,580 | €3,655 | +€1,075 | +41.6% |
| Financial charges | 65/66B | €361 | €301 | -€61 | -16.8% |
| Recurring financial charges | 65 | €361 | €301 | -€61 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €82,750 | €60,771 | -€21,979 | -26.6% |
| Income taxes | 67/77 | €22,754 | €16,725 | -€6,028 | -26.5% |
| Profit (loss) for the period | 9904 | €59,997 | €44,046 | -€15,951 | -26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,997 | €44,046 | -€15,951 | -26.6% |
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.