ART & RENOV: 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 & RENOV
Largest movements
- Cash +€61,694
up €61,694 (+208%), from €29,725 to €91,419
mainly Debts after one year (+€112,096) and Net result for the year (+€27,047)
- Stocks and contracts +€47,503
new in 2025: €47,503
- Receivables within one year -€17,441
down €17,441 (-24.4%), from €71,498 to €54,057
of which Trade receivables: -€40,662
- Deferred charges and accrued income +€2,211
new in 2025: €2,211
- Debts after one year +€112,096
new in 2025: €112,096
- Trade debts -€31,237
down €31,237 (-78.5%), from €39,815 to €8,578
- Current portion of long-term debt +€8,465
new in 2025: €8,465
- Profit (loss) carried forward +€3,987
up €3,987, from -€3,980 to €7
- Gross operating margin +€55,888
up €55,888 (+152%), from €36,724 to €92,612
- Other operating charges +€18,694
up €18,694 (+1,725%), from €1,084 to €19,778
- Financial charges +€9,153
up €9,153 (+470%), from €1,947 to €11,100
- Staff costs +€8,780
up €8,780 (+55.7%), from €15,765 to €24,544
- Taxes +€5,346
up €5,346 (+124%), from €4,318 to €9,664
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 | €102,011 | €195,498 | +€93,487 | +91.6% |
| Fixed assets | 21/28 | €788 | €309 | -€480 | -60.9% |
| Tangible fixed assets | 22/27 | €788 | €309 | -€480 | -60.9% |
| Furniture and vehicles | 24 | €788 | €309 | -€480 | -60.9% |
| Current assets | 29/58 | €101,223 | €195,189 | +€93,967 | +92.8% |
| Stocks and contracts in progress | 3 | - | €47,503 | +€47,503 | |
| Stocks | 30/36 | - | €47,503 | +€47,503 | |
| Amounts receivable within one year | 40/41 | €71,498 | €54,057 | -€17,441 | -24.4% |
| Trade receivables | 40 | €63,683 | €23,020 | -€40,662 | -63.9% |
| Other amounts receivable | 41 | €7,815 | €31,036 | +€23,221 | +297% |
| Cash at bank and in hand | 54/58 | €29,725 | €91,419 | +€61,694 | +208% |
| Deferred charges and accrued income | 490/1 | - | €2,211 | +€2,211 | |
| Total equity and liabilities | 10/49 | €102,011 | €195,498 | +€93,487 | +91.6% |
| Equity | 10/15 | €36,765 | €40,752 | +€3,987 | +10.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €38,245 | €38,245 | = | 0.0% |
| Distributable reserves | 133 | €38,245 | €38,245 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,980 | €7 | +€3,987 | |
| Amounts payable | 17/49 | €65,246 | €154,746 | +€89,500 | +137% |
| Amounts payable after more than one year | 17 | - | €112,096 | +€112,096 | |
| Financial debts | 170/4 | - | €112,096 | +€112,096 | |
| Amounts payable within one year | 42/48 | €65,246 | €42,650 | -€22,596 | -34.6% |
| Current portion of amounts payable after more than one year | 42 | - | €8,465 | +€8,465 | |
| Trade debts | 44 | €39,815 | €8,578 | -€31,237 | -78.5% |
| Suppliers | 440/4 | €39,815 | €8,578 | -€31,237 | -78.5% |
| Taxes, remuneration and social security | 45 | €4,318 | €6,006 | +€1,688 | +39.1% |
| Taxes | 450/3 | €4,318 | €6,006 | +€1,688 | +39.1% |
| Other amounts payable | 47/48 | €21,113 | €19,601 | -€1,512 | -7.2% |
| Non-recurring operating income | 76A | - | €37,660 | +€37,660 | |
| Remuneration, social security and pensions | 62 | €15,765 | €24,544 | +€8,780 | +55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,234 | €480 | -€754 | -61.1% |
| Other operating charges | 640/8 | €1,084 | €19,778 | +€18,694 | +1,725% |
| Gross operating margin | 9900 | €36,724 | €92,612 | +€55,888 | +152% |
| Operating profit (loss) | 9901 | €18,642 | €47,811 | +€29,169 | +156% |
| Financial income | 75/76B | €67 | €0 | -€66 | -99.3% |
| Recurring financial income | 75 | €67 | €0 | -€66 | -99.3% |
| Financial charges | 65/66B | €1,947 | €11,100 | +€9,153 | +470% |
| Recurring financial charges | 65 | €1,947 | €11,100 | +€9,153 | +470% |
| Profit (loss) for the period before taxes | 9903 | €16,761 | €36,711 | +€19,950 | +119% |
| Income taxes | 67/77 | €4,318 | €9,664 | +€5,346 | +124% |
| Profit (loss) for the period | 9904 | €12,443 | €27,047 | +€14,604 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €12,443 | €27,047 | +€14,604 | +117% |
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 31 October 2026 via checked.be.