ART-SBW: 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-SBW
Largest movements
- Cash +€31,395
up €31,395 (+78.6%), from €39,935 to €71,329
mainly Net result for the year (+€33,455) and Receivables within one year (+€20,276)
- Receivables within one year -€20,276
down €20,276 (-54.8%), from €36,980 to €16,704
of which Trade receivables: -€18,997
- Tangible fixed assets -€4,907
down €4,907 (-10.2%), from €47,900 to €42,993
of which Furniture and vehicles: -€9,375
- Profit (loss) carried forward +€33,455
up €33,455 (+70.8%), from €47,279 to €80,734
- Other debts -€23,789
down €23,789 (-58.3%), from €40,821 to €17,032
- Trade debts -€14,851
down €14,851 (-76.7%), from €19,372 to €4,521
- Tax, wage and social debts +€10,596
up €10,596 (+67.3%), from €15,751 to €26,347
of which Taxes: +€13,872
- Turnover +€41,444
up €41,444 (+12.6%), from €329,124 to €370,568
- Purchases and services +€31,596
up €31,596 (+13.7%), from €230,192 to €261,789
- Staff costs -€19,073
down €19,073 (-36.0%), from €52,939 to €33,866
- Gross operating margin +€9,866
up €9,866 (+9.2%), from €107,192 to €117,058
- Taxes +€7,570
up €7,570 (+88.1%), from €8,590 to €16,160
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 | €131,284 | €136,694 | +€5,411 | +4.1% |
| Fixed assets | 21/28 | €52,700 | €47,943 | -€4,757 | -9.0% |
| Tangible fixed assets | 22/27 | €47,900 | €42,993 | -€4,907 | -10.2% |
| Plant, machinery and equipment | 23 | €746 | €526 | -€220 | -29.5% |
| Furniture and vehicles | 24 | €35,266 | €25,891 | -€9,375 | -26.6% |
| Other tangible fixed assets | 26 | €11,888 | €16,576 | +€4,688 | +39.4% |
| Financial fixed assets | 28 | €4,800 | €4,950 | +€150 | +3.1% |
| Current assets | 29/58 | €78,584 | €88,752 | +€10,168 | +12.9% |
| Stocks and contracts in progress | 3 | €500 | €500 | = | 0.0% |
| Stocks | 30/36 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €36,980 | €16,704 | -€20,276 | -54.8% |
| Trade receivables | 40 | €21,768 | €2,772 | -€18,997 | -87.3% |
| Other amounts receivable | 41 | €15,212 | €13,932 | -€1,279 | -8.4% |
| Cash at bank and in hand | 54/58 | €39,935 | €71,329 | +€31,395 | +78.6% |
| Deferred charges and accrued income | 490/1 | €1,169 | €218 | -€951 | -81.3% |
| Total equity and liabilities | 10/49 | €131,284 | €136,694 | +€5,411 | +4.1% |
| Equity | 10/15 | €55,339 | €88,794 | +€33,455 | +60.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,279 | €80,734 | +€33,455 | +70.8% |
| Amounts payable | 17/49 | €75,944 | €47,900 | -€28,044 | -36.9% |
| Amounts payable within one year | 42/48 | €75,944 | €47,900 | -€28,044 | -36.9% |
| Trade debts | 44 | €19,372 | €4,521 | -€14,851 | -76.7% |
| Suppliers | 440/4 | €19,372 | €4,521 | -€14,851 | -76.7% |
| Taxes, remuneration and social security | 45 | €15,751 | €26,347 | +€10,596 | +67.3% |
| Taxes | 450/3 | €8,102 | €21,974 | +€13,872 | +171% |
| Remuneration and social security | 454/9 | €7,649 | €4,373 | -€3,276 | -42.8% |
| Other amounts payable | 47/48 | €40,821 | €17,032 | -€23,789 | -58.3% |
| Turnover | 70 | €329,124 | €370,568 | +€41,444 | +12.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €230,192 | €261,789 | +€31,596 | +13.7% |
| Remuneration, social security and pensions | 62 | €52,939 | €33,866 | -€19,073 | -36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,418 | €17,945 | +€5,528 | +44.5% |
| Other operating charges | 640/8 | €8,935 | €5,530 | -€3,405 | -38.1% |
| Non-recurring operating charges | 66A | - | €9,894 | +€9,894 | |
| Gross operating margin | 9900 | €107,192 | €117,058 | +€9,866 | +9.2% |
| Operating profit (loss) | 9901 | €32,901 | €49,823 | +€16,921 | +51.4% |
| Financial charges | 65/66B | €53 | €208 | +€156 | +296% |
| Recurring financial charges | 65 | €53 | €208 | +€156 | +296% |
| Profit (loss) for the period before taxes | 9903 | €32,849 | €49,615 | +€16,766 | +51.0% |
| Income taxes | 67/77 | €8,590 | €16,160 | +€7,570 | +88.1% |
| Profit (loss) for the period | 9904 | €24,259 | €33,455 | +€9,196 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,259 | €33,455 | +€9,196 | +37.9% |
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 25 October 2026 via checked.be.