ART-LIGHT: 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-LIGHT
Largest movements
- Stocks and contracts +€25,182
up €25,182 (+125%), from €20,095 to €45,277
of which Contracts in progress: +€22,299
- Cash -€24,987
down €24,987 (-34.3%), from €72,906 to €47,920
mainly Stocks and contracts (-€25,182) and Debts after one year (-€12,325)
- Tangible fixed assets -€12,603
down €12,603 (-23.4%), from €53,929 to €41,326
- Receivables within one year -€5,711
down €5,711 (-14.7%), from €38,814 to €33,103
of which Other amounts receivable: -€4,949
- Debts after one year -€12,325
down €12,325 (-28.9%), from €42,647 to €30,323
- Tax, wage and social debts -€3,458
down €3,458 (-36.7%), from €9,433 to €5,975
of which Remuneration and social security: -€4,000
- Other debts -€2,596
down €2,596 (-5.3%), from €48,866 to €46,270
- Reserves +€1,910
up €1,910 (+13.9%), from €13,770 to €15,680
- Depreciation +€5,408
up €5,408 (+75.2%), from €7,195 to €12,603
- Gross operating margin +€4,580
up €4,580 (+24.7%), from €18,550 to €23,129
- Other operating charges +€913
up €913 (+112%), from €819 to €1,732
- Financial charges +€842
up €842 (+16.7%), from €5,031 to €5,872
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 | €186,618 | €168,941 | -€17,677 | -9.5% |
| Fixed assets | 21/28 | €53,974 | €41,371 | -€12,603 | -23.3% |
| Tangible fixed assets | 22/27 | €53,929 | €41,326 | -€12,603 | -23.4% |
| Furniture and vehicles | 24 | €53,929 | €41,326 | -€12,603 | -23.4% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €132,644 | €127,570 | -€5,074 | -3.8% |
| Stocks and contracts in progress | 3 | €20,095 | €45,277 | +€25,182 | +125% |
| Stocks | 30/36 | €5,346 | €8,229 | +€2,883 | +53.9% |
| Contracts in progress | 37 | €14,749 | €37,048 | +€22,299 | +151% |
| Amounts receivable within one year | 40/41 | €38,814 | €33,103 | -€5,711 | -14.7% |
| Trade receivables | 40 | €25,700 | €24,938 | -€762 | -3.0% |
| Other amounts receivable | 41 | €13,114 | €8,165 | -€4,949 | -37.7% |
| Cash at bank and in hand | 54/58 | €72,906 | €47,920 | -€24,987 | -34.3% |
| Deferred charges and accrued income | 490/1 | €828 | €1,270 | +€442 | +53.3% |
| Total equity and liabilities | 10/49 | €186,618 | €168,941 | -€17,677 | -9.5% |
| Equity | 10/15 | €64,917 | €65,255 | +€338 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,770 | €15,680 | +€1,910 | +13.9% |
| Distributable reserves | 133 | €13,770 | €15,680 | +€1,910 | +13.9% |
| Profit (loss) carried forward | 14 | €32,547 | €30,975 | -€1,572 | -4.8% |
| Amounts payable | 17/49 | €121,701 | €103,687 | -€18,015 | -14.8% |
| Amounts payable after more than one year | 17 | €42,647 | €30,323 | -€12,325 | -28.9% |
| Financial debts | 170/4 | €42,647 | €30,323 | -€12,325 | -28.9% |
| Amounts payable within one year | 42/48 | €79,054 | €73,364 | -€5,690 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €13,113 | €13,588 | +€475 | +3.6% |
| Trade debts | 44 | €7,642 | €7,531 | -€111 | -1.5% |
| Suppliers | 440/4 | €7,642 | €7,531 | -€111 | -1.5% |
| Taxes, remuneration and social security | 45 | €9,433 | €5,975 | -€3,458 | -36.7% |
| Taxes | 450/3 | €5,433 | €5,975 | +€542 | +10.0% |
| Remuneration and social security | 454/9 | €4,000 | €0 | -€4,000 | -100% |
| Other amounts payable | 47/48 | €48,866 | €46,270 | -€2,596 | -5.3% |
| Non-recurring operating income | 76A | €9,917 | €0 | -€9,917 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,195 | €12,603 | +€5,408 | +75.2% |
| Other operating charges | 640/8 | €819 | €1,732 | +€913 | +112% |
| Gross operating margin | 9900 | €18,550 | €23,129 | +€4,580 | +24.7% |
| Operating profit (loss) | 9901 | €10,536 | €8,794 | -€1,741 | -16.5% |
| Financial income | 75/76B | €4 | €0 | -€4 | -90.4% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -90.4% |
| Financial charges | 65/66B | €5,031 | €5,872 | +€842 | +16.7% |
| Recurring financial charges | 65 | €5,031 | €5,872 | +€842 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €5,509 | €2,922 | -€2,587 | -47.0% |
| Income taxes | 67/77 | €1,036 | €918 | -€118 | -11.4% |
| Profit (loss) for the period | 9904 | €4,473 | €2,004 | -€2,469 | -55.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,473 | €2,004 | -€2,469 | -55.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.