ART-Ics: 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-Ics
Largest movements
- Receivables within one year +€243,931
up €243,931 (+329%), from €74,123 to €318,054
of which Trade receivables: +€188,573
- Cash +€73,499
up €73,499 (+708%), from €10,385 to €83,884
mainly Depreciation (+€197,962) and Net result for the year (+€192,181)
- Tangible fixed assets -€65,990
down €65,990 (-8.0%), from €824,910 to €758,920
- Reserves +€192,181
up €192,181 (+22.2%), from €863,996 to €1.1m
of which Distributable reserves: +€192,181
- Trade debts +€35,395
up €35,395 (+221%), from €16,040 to €51,435
- Tax, wage and social debts +€26,247
up €26,247 (+74.7%), from €35,123 to €61,370
of which Remuneration and social security: +€23,162
- Gross operating margin +€168,479
up €168,479 (+23.0%), from €731,042 to €899,522
- Staff costs +€57,789
up €57,789 (+16.5%), from €349,312 to €407,101
- Taxes +€44,066
up €44,066 (+208%), from €21,187 to €65,254
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 | €922,659 | €1,175,344 | +€252,685 | +27.4% |
| Fixed assets | 21/28 | €833,030 | €767,640 | -€65,390 | -7.8% |
| Tangible fixed assets | 22/27 | €824,910 | €758,920 | -€65,990 | -8.0% |
| Furniture and vehicles | 24 | €824,910 | €758,920 | -€65,990 | -8.0% |
| Financial fixed assets | 28 | €8,120 | €8,720 | +€600 | +7.4% |
| Current assets | 29/58 | €89,629 | €407,704 | +€318,074 | +355% |
| Amounts receivable within one year | 40/41 | €74,123 | €318,054 | +€243,931 | +329% |
| Trade receivables | 40 | €64,123 | €252,696 | +€188,573 | +294% |
| Other amounts receivable | 41 | €10,000 | €65,358 | +€55,358 | +554% |
| Cash at bank and in hand | 54/58 | €10,385 | €83,884 | +€73,499 | +708% |
| Deferred charges and accrued income | 490/1 | €5,121 | €5,765 | +€644 | +12.6% |
| Total equity and liabilities | 10/49 | €922,659 | €1,175,344 | +€252,685 | +27.4% |
| Equity | 10/15 | €870,196 | €1,062,377 | +€192,181 | +22.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €863,996 | €1,056,177 | +€192,181 | +22.2% |
| Tax-exempt reserves | 132 | €44,000 | €44,000 | = | 0.0% |
| Distributable reserves | 133 | €819,996 | €1,012,177 | +€192,181 | +23.4% |
| Amounts payable | 17/49 | €52,463 | €112,967 | +€60,504 | +115% |
| Amounts payable within one year | 42/48 | €51,163 | €112,805 | +€61,642 | +120% |
| Trade debts | 44 | €16,040 | €51,435 | +€35,395 | +221% |
| Suppliers | 440/4 | €16,040 | €51,435 | +€35,395 | +221% |
| Taxes, remuneration and social security | 45 | €35,123 | €61,370 | +€26,247 | +74.7% |
| Taxes | 450/3 | €12,131 | €15,216 | +€3,085 | +25.4% |
| Remuneration and social security | 454/9 | €22,992 | €46,154 | +€23,162 | +101% |
| Accrued charges and deferred income | 492/3 | €1,300 | €162 | -€1,138 | -87.5% |
| Remuneration, social security and pensions | 62 | €349,312 | €407,101 | +€57,789 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,444 | €197,962 | -€4,482 | -2.2% |
| Other operating charges | 640/8 | €37,043 | €37,524 | +€481 | +1.3% |
| Gross operating margin | 9900 | €731,042 | €899,522 | +€168,479 | +23.0% |
| Operating profit (loss) | 9901 | €142,244 | €256,935 | +€114,691 | +80.6% |
| Financial income | 75/76B | €144 | €1,414 | +€1,271 | +884% |
| Recurring financial income | 75 | €144 | €1,414 | +€1,271 | +884% |
| Financial charges | 65/66B | €1,374 | €915 | -€459 | -33.4% |
| Recurring financial charges | 65 | €1,374 | €915 | -€459 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €141,013 | €257,434 | +€116,421 | +82.6% |
| Income taxes | 67/77 | €21,187 | €65,254 | +€44,066 | +208% |
| Profit (loss) for the period | 9904 | €119,826 | €192,181 | +€72,355 | +60.4% |
| Transfer to tax-exempt reserves | 689 | €16,500 | - | -€16,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €103,326 | €192,181 | +€88,855 | +86.0% |
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.