ART MASTER: 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 MASTER
Largest movements
- Receivables after one year +€32,779
up €32,779 (+274.5%), from €11,943 to €44,722
of which Trade receivables: +€18,367
- Cash +€16,869
up €16,869 (+2303.8%), from €732 to €17,601
mainly Net result for the year (+€47,497) and Trade debts (+€12,055)
- Tangible fixed assets +€3,954
up €3,954 (+13181633.3%), from €0 to €3,955
of which Furniture and vehicles: +€3,955
- Deferred charges and accrued income +€1,072
up €1,072 (+360.3%), from €298 to €1,370
- Profit (loss) carried forward +€47,497
up €47,497 (+97.4%), from -€48,767 to -€1,269
- Trade debts +€12,055
up €12,055 (+168.7%), from €7,146 to €19,201
- Other debts -€8,064
down €8,064 (-28.5%), from €28,293 to €20,229
- Tax, wage and social debts +€3,186
up €3,186 (+60.9%), from €5,230 to €8,416
of which Remuneration and social security: +€5,256
- Gross operating margin +€64,103
up €64,103, from -€2,227 to €61,876
- Staff costs +€12,415
new in 2025: €12,415
- Financial charges +€633
up €633 (+253.4%), from €250 to €882
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 | €12,973 | €67,647 | +€54,675 | +421.5% |
| Fixed assets | 21/28 | €0 | €3,955 | +€3,954 | +13181633.3% |
| Tangible fixed assets | 22/27 | €0 | €3,955 | +€3,954 | +13181633.3% |
| Land and buildings | 22 | €0 | - | -€0 | |
| Furniture and vehicles | 24 | - | €3,955 | +€3,955 | |
| Current assets | 29/58 | €12,973 | €63,693 | +€50,720 | +391.0% |
| Amounts receivable after more than one year | 29 | €11,943 | €44,722 | +€32,779 | +274.5% |
| Trade receivables | 290 | €9,400 | €27,767 | +€18,367 | +195.4% |
| Other amounts receivable | 291 | €2,543 | €16,955 | +€14,412 | +566.7% |
| Cash at bank and in hand | 54/58 | €732 | €17,601 | +€16,869 | +2303.8% |
| Deferred charges and accrued income | 490/1 | €298 | €1,370 | +€1,072 | +360.3% |
| Total equity and liabilities | 10/49 | €12,973 | €67,647 | +€54,675 | +421.5% |
| Equity | 10/15 | -€27,696 | €19,802 | +€47,497 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,767 | -€1,269 | +€47,497 | +97.4% |
| Amounts payable | 17/49 | €40,668 | €47,846 | +€7,177 | +17.6% |
| Amounts payable within one year | 42/48 | €40,668 | €47,846 | +€7,177 | +17.6% |
| Trade debts | 44 | €7,146 | €19,201 | +€12,055 | +168.7% |
| Suppliers | 440/4 | €7,146 | €19,201 | +€12,055 | +168.7% |
| Taxes, remuneration and social security | 45 | €5,230 | €8,416 | +€3,186 | +60.9% |
| Taxes | 450/3 | €5,230 | €3,160 | -€2,070 | -39.6% |
| Remuneration and social security | 454/9 | - | €5,256 | +€5,256 | |
| Other amounts payable | 47/48 | €28,293 | €20,229 | -€8,064 | -28.5% |
| Remuneration, social security and pensions | 62 | - | €12,415 | +€12,415 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €855 | €246 | -€609 | -71.3% |
| Other operating charges | 640/8 | €781 | €1,109 | +€328 | +41.9% |
| Gross operating margin | 9900 | -€2,227 | €61,876 | +€64,103 | |
| Operating profit (loss) | 9901 | -€3,863 | €48,106 | +€51,969 | |
| Financial income | 75/76B | €8 | €273 | +€265 | +3121.0% |
| Recurring financial income | 75 | €8 | €273 | +€265 | +3121.0% |
| Financial charges | 65/66B | €250 | €882 | +€633 | +253.4% |
| Recurring financial charges | 65 | €250 | €882 | +€633 | +253.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,104 | €47,497 | +€51,601 | |
| Profit (loss) for the period | 9904 | -€4,104 | €47,497 | +€51,601 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,104 | €47,497 | +€51,601 |
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 3 October 2026 via checked.be.