ART - RENOVATION - CONSTRUCTION: 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 - RENOVATION - CONSTRUCTION
Largest movements
- Tangible fixed assets -€36,164
down €36,164 (-17.5%), from €206,442 to €170,278
of which Plant, machinery and equipment: -€42,172
- Cash +€13,611
up €13,611 (+216%), from €6,311 to €19,922
mainly Debts after one year (+€63,532) and Investment in fixed assets (net) (+€21,685)
- Receivables within one year +€4,036
up €4,036 (+12.6%), from €32,119 to €36,154
of which Other amounts receivable: +€4,036
- Debts after one year +€63,532
up €63,532 (+48.7%), from €130,346 to €193,878
of which Financial debts: +€63,532
- Current portion of long-term debt -€51,952
down €51,952 (-79.9%), from €65,000 to €13,048
- Other debts -€37,402
down €37,402 (-77.5%), from €48,232 to €10,830
- Profit (loss) carried forward +€10,384
up €10,384 (+47.8%), from -€21,723 to -€11,339
- Trade debts -€3,079
down €3,079 (-73.3%), from €4,198 to €1,119
- Gross operating margin +€33,994
up €33,994 (+4,360%), from €780 to €34,774
- Other operating charges -€3,370
down €3,370 (-98.3%), from €3,428 to €58
- Financial charges +€2,752
up €2,752 (+38.8%), from €7,101 to €9,853
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 | €245,472 | €226,955 | -€18,517 | -7.5% |
| Fixed assets | 21/28 | €207,042 | €170,878 | -€36,164 | -17.5% |
| Tangible fixed assets | 22/27 | €206,442 | €170,278 | -€36,164 | -17.5% |
| Land and buildings | 22 | €12,692 | €11,057 | -€1,635 | -12.9% |
| Plant, machinery and equipment | 23 | €163,328 | €121,157 | -€42,172 | -25.8% |
| Other tangible fixed assets | 26 | €30,422 | €38,065 | +€7,643 | +25.1% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €38,430 | €56,077 | +€17,646 | +45.9% |
| Amounts receivable within one year | 40/41 | €32,119 | €36,154 | +€4,036 | +12.6% |
| Trade receivables | 40 | €1,119 | €1,119 | = | 0.0% |
| Other amounts receivable | 41 | €31,000 | €35,036 | +€4,036 | +13.0% |
| Cash at bank and in hand | 54/58 | €6,311 | €19,922 | +€13,611 | +216% |
| Total equity and liabilities | 10/49 | €245,472 | €226,955 | -€18,517 | -7.5% |
| Equity | 10/15 | -€2,303 | €8,080 | +€10,384 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €828 | €828 | = | 0.0% |
| Non-distributable reserves | 130/1 | €828 | €828 | = | 0.0% |
| Reserves not available under the articles | 1311 | €828 | €828 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,723 | -€11,339 | +€10,384 | +47.8% |
| Amounts payable | 17/49 | €247,776 | €218,874 | -€28,901 | -11.7% |
| Amounts payable after more than one year | 17 | €130,346 | €193,878 | +€63,532 | +48.7% |
| Financial debts | 170/4 | €130,000 | €193,532 | +€63,532 | +48.9% |
| Other amounts payable | 178/9 | €346 | €346 | = | 0.0% |
| Amounts payable within one year | 42/48 | €117,430 | €24,996 | -€92,433 | -78.7% |
| Current portion of amounts payable after more than one year | 42 | €65,000 | €13,048 | -€51,952 | -79.9% |
| Trade debts | 44 | €4,198 | €1,119 | -€3,079 | -73.3% |
| Suppliers | 440/4 | €4,198 | €1,119 | -€3,079 | -73.3% |
| Other amounts payable | 47/48 | €48,232 | €10,830 | -€37,402 | -77.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,478 | €14,478 | = | 0.0% |
| Other operating charges | 640/8 | €3,428 | €58 | -€3,370 | -98.3% |
| Gross operating margin | 9900 | €780 | €34,774 | +€33,994 | +4,360% |
| Operating profit (loss) | 9901 | -€17,126 | €20,237 | +€37,364 | |
| Financial charges | 65/66B | €7,101 | €9,853 | +€2,752 | +38.8% |
| Recurring financial charges | 65 | €7,101 | €9,853 | +€2,752 | +38.8% |
| Profit (loss) for the period before taxes | 9903 | -€24,227 | €10,384 | +€34,611 | |
| Profit (loss) for the period | 9904 | -€24,227 | €10,384 | +€34,611 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,227 | €10,384 | +€34,611 |
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.