ART-MAGIC: what changed
Two fiscal 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-MAGIC
Largest movements
- Tangible fixed assets -€13,278
down €13,278 (-6.6%), from €202,550 to €189,272
of which Land and buildings: -€12,943
- Receivables within one year +€3,864
up €3,864 (+195.8%), from €1,974 to €5,837
of which Other amounts receivable: +€3,680
- Other debts +€61,612
up €61,612 (+33.8%), from €182,272 to €243,884
- Profit (loss) carried forward -€48,948
down €48,948 (-26.6%), from -€184,208 to -€233,156
- Debts after one year -€18,130
down €18,130 (-66.4%), from €27,303 to €9,174
- Trade debts -€6,327
down €6,327 (-58.8%), from €10,758 to €4,431
- Financial charges -€867
down €867 (-20.0%), from €4,342 to €3,475
- Other operating charges +€485
up €485 (+11.9%), from €4,066 to €4,551
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.
Cash bridge derived
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 | €211,703 | €200,537 | -€11,166 | -5.3% |
| Fixed assets | 21/28 | €202,550 | €189,272 | -€13,278 | -6.6% |
| Tangible fixed assets | 22/27 | €202,550 | €189,272 | -€13,278 | -6.6% |
| Land and buildings | 22 | €202,216 | €189,272 | -€12,943 | -6.4% |
| Plant, machinery and equipment | 23 | €335 | €0 | -€335 | -100.0% |
| Current assets | 29/58 | €9,152 | €11,264 | +€2,112 | +23.1% |
| Amounts receivable within one year | 40/41 | €1,974 | €5,837 | +€3,864 | +195.8% |
| Trade receivables | 40 | €151 | €335 | +€184 | +121.5% |
| Other amounts receivable | 41 | €1,822 | €5,503 | +€3,680 | +201.9% |
| Cash at bank and in hand | 54/58 | €3,994 | €2,966 | -€1,028 | -25.7% |
| Deferred charges and accrued income | 490/1 | €3,185 | €2,461 | -€724 | -22.7% |
| Total equity and liabilities | 10/49 | €211,703 | €200,537 | -€11,166 | -5.3% |
| Equity | 10/15 | -€27,208 | -€76,156 | -€48,948 | -179.9% |
| Contributions | 10/11 | €157,000 | €157,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€184,208 | -€233,156 | -€48,948 | -26.6% |
| Amounts payable | 17/49 | €238,911 | €276,693 | +€37,782 | +15.8% |
| Amounts payable after more than one year | 17 | €27,303 | €9,174 | -€18,130 | -66.4% |
| Financial debts | 170/4 | €27,303 | €9,174 | -€18,130 | -66.4% |
| Amounts payable within one year | 42/48 | €211,608 | €267,112 | +€55,504 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €17,844 | €18,130 | +€286 | +1.6% |
| Trade debts | 44 | €10,758 | €4,431 | -€6,327 | -58.8% |
| Suppliers | 440/4 | €10,758 | €4,431 | -€6,327 | -58.8% |
| Advances received on contracts in progress | 46 | - | €335 | +€335 | |
| Taxes, remuneration and social security | 45 | €734 | €332 | -€402 | -54.8% |
| Taxes | 450/3 | €734 | €332 | -€402 | -54.8% |
| Other amounts payable | 47/48 | €182,272 | €243,884 | +€61,612 | +33.8% |
| Accrued charges and deferred income | 492/3 | €0 | €408 | +€408 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,278 | €13,278 | +€0 | 0.0% |
| Other operating charges | 640/8 | €4,066 | €4,551 | +€485 | +11.9% |
| Gross operating margin | 9900 | -€27,287 | -€27,536 | -€248 | -0.9% |
| Operating profit (loss) | 9901 | -€44,632 | -€45,365 | -€733 | -1.6% |
| Financial charges | 65/66B | €4,342 | €3,475 | -€867 | -20.0% |
| Recurring financial charges | 65 | €4,342 | €3,475 | -€867 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | -€48,974 | -€48,839 | +€135 | +0.3% |
| Income taxes | 67/77 | €223 | €109 | -€114 | -51.1% |
| Profit (loss) for the period | 9904 | -€49,196 | -€48,948 | +€248 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,196 | -€48,948 | +€248 | +0.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.