ART'TERRE: 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'TERRE
Largest movements
- Tangible fixed assets -€11,905
down €11,905 (-6.3%), from €188,416 to €176,512
of which Land and buildings: -€6,396
- Receivables within one year +€9,729
up €9,729 (+67.3%), from €14,448 to €24,177
of which Trade receivables: +€9,706
- Debts after one year -€10,330
down €10,330 (-14.9%), from €69,488 to €59,158
- Profit (loss) carried forward +€10,073
up €10,073 (+34.7%), from €28,993 to €39,066
- Other debts -€6,715
down €6,715 (-8.9%), from €75,223 to €68,508
- Tax, wage and social debts +€4,226
up €4,226 (+58.5%), from €7,223 to €11,449
of which Taxes: +€5,026
- Staff costs +€7,752
up €7,752 (+82.9%), from €9,353 to €17,105
- Gross operating margin +€6,531
up €6,531 (+17.2%), from €37,874 to €44,406
- Depreciation +€2,336
up €2,336 (+24.4%), from €9,569 to €11,905
- Taxes -€672
down €672 (-24.8%), from €2,710 to €2,038
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 | €230,812 | €227,228 | -€3,584 | -1.6% |
| Fixed assets | 21/28 | €188,495 | €176,591 | -€11,905 | -6.3% |
| Tangible fixed assets | 22/27 | €188,416 | €176,512 | -€11,905 | -6.3% |
| Land and buildings | 22 | €169,521 | €163,125 | -€6,396 | -3.8% |
| Plant, machinery and equipment | 23 | €5,975 | €3,467 | -€2,508 | -42.0% |
| Furniture and vehicles | 24 | €12,920 | €9,920 | -€3,000 | -23.2% |
| Financial fixed assets | 28 | €79 | €79 | = | 0.0% |
| Current assets | 29/58 | €42,317 | €50,637 | +€8,320 | +19.7% |
| Stocks and contracts in progress | 3 | €640 | €500 | -€140 | -21.9% |
| Stocks | 30/36 | €640 | €500 | -€140 | -21.9% |
| Amounts receivable within one year | 40/41 | €14,448 | €24,177 | +€9,729 | +67.3% |
| Trade receivables | 40 | €13,903 | €23,609 | +€9,706 | +69.8% |
| Other amounts receivable | 41 | €546 | €568 | +€23 | +4.2% |
| Cash at bank and in hand | 54/58 | €25,758 | €23,587 | -€2,170 | -8.4% |
| Deferred charges and accrued income | 490/1 | €1,471 | €2,373 | +€902 | +61.3% |
| Total equity and liabilities | 10/49 | €230,812 | €227,228 | -€3,584 | -1.6% |
| Equity | 10/15 | €65,193 | €75,266 | +€10,073 | +15.5% |
| Contributions | 10/11 | €36,200 | €36,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,993 | €39,066 | +€10,073 | +34.7% |
| Amounts payable | 17/49 | €165,619 | €151,962 | -€13,658 | -8.2% |
| Amounts payable after more than one year | 17 | €69,488 | €59,158 | -€10,330 | -14.9% |
| Financial debts | 170/4 | €69,488 | €59,158 | -€10,330 | -14.9% |
| Amounts payable within one year | 42/48 | €96,131 | €92,804 | -€3,327 | -3.5% |
| Financial debts | 43 | €10,103 | €10,330 | +€228 | +2.3% |
| Credit institutions | 430/8 | €10,103 | €10,330 | +€228 | +2.3% |
| Trade debts | 44 | €3,582 | €2,516 | -€1,066 | -29.8% |
| Suppliers | 440/4 | €3,582 | €2,516 | -€1,066 | -29.8% |
| Taxes, remuneration and social security | 45 | €7,223 | €11,449 | +€4,226 | +58.5% |
| Taxes | 450/3 | €5,941 | €10,967 | +€5,026 | +84.6% |
| Remuneration and social security | 454/9 | €1,282 | €482 | -€800 | -62.4% |
| Other amounts payable | 47/48 | €75,223 | €68,508 | -€6,715 | -8.9% |
| Remuneration, social security and pensions | 62 | €9,353 | €17,105 | +€7,752 | +82.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,569 | €11,905 | +€2,336 | +24.4% |
| Other operating charges | 640/8 | €1,748 | €1,431 | -€317 | -18.2% |
| Gross operating margin | 9900 | €37,874 | €44,406 | +€6,531 | +17.2% |
| Operating profit (loss) | 9901 | €17,203 | €13,965 | -€3,238 | -18.8% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €2,066 | €1,863 | -€204 | -9.9% |
| Recurring financial charges | 65 | €2,066 | €1,863 | -€204 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €15,137 | €12,111 | -€3,026 | -20.0% |
| Income taxes | 67/77 | €2,710 | €2,038 | -€672 | -24.8% |
| Profit (loss) for the period | 9904 | €12,427 | €10,073 | -€2,354 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,427 | €10,073 | -€2,354 | -18.9% |
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 1 November 2026 via checked.be.