ART-TERRA: 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-TERRA
Largest movements
- Receivables within one year +€19,403
up €19,403 (+98.8%), from €19,637 to €39,039
of which Trade receivables: +€22,251
- Cash +€6,926
up €6,926 (+15.2%), from €45,689 to €52,615
mainly Net result for the year (+€15,205) and Trade debts (+€6,749)
- Deferred charges and accrued income -€1,598
down €1,598 (-47.3%), from €3,379 to €1,781
- Profit (loss) carried forward +€15,205
up €15,205 (+47.2%), from -€32,243 to -€17,038
- Trade debts +€6,749
up €6,749 (+22.4%), from €30,089 to €36,838
- Tax, wage and social debts +€2,758
up €2,758 (+42.5%), from €6,493 to €9,250
- Gross operating margin +€10,966
up €10,966 (+74.7%), from €14,678 to €25,645
- Financial income -€1,661
down €1,661 (-97.9%), from €1,696 to €35
- Other operating charges +€1,206
up €1,206 (+179%), from €673 to €1,879
- Taxes +€472
up €472 (+6.7%), from €6,999 to €7,471
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,731 | €95,015 | +€25,284 | +36.3% |
| Fixed assets | 21/28 | €1,027 | €1,580 | +€553 | +53.9% |
| Tangible fixed assets | 22/27 | €1,027 | €1,580 | +€553 | +53.9% |
| Furniture and vehicles | 24 | €1,027 | €1,580 | +€553 | +53.9% |
| Current assets | 29/58 | €68,705 | €93,435 | +€24,731 | +36.0% |
| Amounts receivable within one year | 40/41 | €19,637 | €39,039 | +€19,403 | +98.8% |
| Trade receivables | 40 | €16,788 | €39,039 | +€22,251 | +133% |
| Other amounts receivable | 41 | €2,848 | - | -€2,848 | |
| Cash at bank and in hand | 54/58 | €45,689 | €52,615 | +€6,926 | +15.2% |
| Deferred charges and accrued income | 490/1 | €3,379 | €1,781 | -€1,598 | -47.3% |
| Total equity and liabilities | 10/49 | €69,731 | €95,015 | +€25,284 | +36.3% |
| Equity | 10/15 | €30,179 | €45,384 | +€15,205 | +50.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €422 | €422 | = | 0.0% |
| Non-distributable reserves | 130/1 | €422 | €422 | = | 0.0% |
| Reserves not available under the articles | 1311 | €422 | €422 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,243 | -€17,038 | +€15,205 | +47.2% |
| Amounts payable | 17/49 | €39,552 | €49,632 | +€10,079 | +25.5% |
| Amounts payable within one year | 42/48 | €39,552 | €49,632 | +€10,079 | +25.5% |
| Trade debts | 44 | €30,089 | €36,838 | +€6,749 | +22.4% |
| Suppliers | 440/4 | €30,089 | €36,838 | +€6,749 | +22.4% |
| Taxes, remuneration and social security | 45 | €6,493 | €9,250 | +€2,758 | +42.5% |
| Taxes | 450/3 | €6,493 | €9,250 | +€2,758 | +42.5% |
| Other amounts payable | 47/48 | €2,970 | €3,543 | +€573 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €526 | €520 | -€6 | -1.1% |
| Other operating charges | 640/8 | €673 | €1,879 | +€1,206 | +179% |
| Gross operating margin | 9900 | €14,678 | €25,645 | +€10,966 | +74.7% |
| Operating profit (loss) | 9901 | €13,479 | €23,245 | +€9,766 | +72.5% |
| Financial income | 75/76B | €1,696 | €35 | -€1,661 | -97.9% |
| Recurring financial income | 75 | €1,696 | €35 | -€1,661 | -97.9% |
| Financial charges | 65/66B | €568 | €605 | +€37 | +6.5% |
| Recurring financial charges | 65 | €568 | €605 | +€37 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €14,607 | €22,675 | +€8,068 | +55.2% |
| Income taxes | 67/77 | €6,999 | €7,471 | +€472 | +6.7% |
| Profit (loss) for the period | 9904 | €7,609 | €15,205 | +€7,596 | +99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,609 | €15,205 | +€7,596 | +99.8% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.