ART&MA: 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&MA
Largest movements
- Receivables within one year +€4,384
up €4,384 (+73.6%), from €5,952 to €10,336
of which Trade receivables: +€4,384
- Cash +€1,580
up €1,580 (+9.6%), from €16,403 to €17,983
mainly Net result for the year (+€7,794) and Depreciation (+€501)
- Tangible fixed assets -€501
down €501 (-38.3%), from €1,311 to €809
- Profit (loss) carried forward +€7,794
up €7,794 (+15.2%), from -€51,261 to -€43,467
- Other debts -€2,520
down €2,520 (-4.7%), from €53,238 to €50,717
- Gross operating margin -€3,037
down €3,037 (-25.6%), from €11,866 to €8,828
- Financial charges -€764
down €764 (-83.1%), from €920 to €156
- Depreciation -€339
down €339 (-40.3%), from €840 to €501
- Other operating charges -€182
down €182 (-28.8%), from €632 to €450
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 | €23,666 | €29,128 | +€5,462 | +23.1% |
| Fixed assets | 21/28 | €1,311 | €809 | -€501 | -38.3% |
| Tangible fixed assets | 22/27 | €1,311 | €809 | -€501 | -38.3% |
| Furniture and vehicles | 24 | €1,311 | €809 | -€501 | -38.3% |
| Current assets | 29/58 | €22,355 | €28,319 | +€5,963 | +26.7% |
| Amounts receivable within one year | 40/41 | €5,952 | €10,336 | +€4,384 | +73.6% |
| Trade receivables | 40 | €3,783 | €8,167 | +€4,384 | +116% |
| Other amounts receivable | 41 | €2,169 | €2,169 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,403 | €17,983 | +€1,580 | +9.6% |
| Total equity and liabilities | 10/49 | €23,666 | €29,128 | +€5,462 | +23.1% |
| Equity | 10/15 | -€31,261 | -€23,467 | +€7,794 | +24.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,261 | -€43,467 | +€7,794 | +15.2% |
| Amounts payable | 17/49 | €54,927 | €52,595 | -€2,332 | -4.2% |
| Amounts payable within one year | 42/48 | €54,927 | €52,595 | -€2,332 | -4.2% |
| Trade debts | 44 | €716 | €665 | -€51 | -7.1% |
| Suppliers | 440/4 | €716 | €665 | -€51 | -7.1% |
| Taxes, remuneration and social security | 45 | €973 | €1,213 | +€239 | +24.6% |
| Taxes | 450/3 | €973 | €1,213 | +€239 | +24.6% |
| Other amounts payable | 47/48 | €53,238 | €50,717 | -€2,520 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €840 | €501 | -€339 | -40.3% |
| Other operating charges | 640/8 | €632 | €450 | -€182 | -28.8% |
| Gross operating margin | 9900 | €11,866 | €8,828 | -€3,037 | -25.6% |
| Operating profit (loss) | 9901 | €10,393 | €7,876 | -€2,517 | -24.2% |
| Financial income | 75/76B | €115 | €73 | -€42 | -36.3% |
| Recurring financial income | 75 | €115 | €73 | -€42 | -36.3% |
| Financial charges | 65/66B | €920 | €156 | -€764 | -83.1% |
| Recurring financial charges | 65 | €920 | €156 | -€764 | -83.1% |
| Profit (loss) for the period before taxes | 9903 | €9,588 | €7,794 | -€1,794 | -18.7% |
| Profit (loss) for the period | 9904 | €9,588 | €7,794 | -€1,794 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,588 | €7,794 | -€1,794 | -18.7% |
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 27 October 2026 via checked.be.