ART-THERM: 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-THERM
Largest movements
- Tangible fixed assets -€11,439
down €11,439 (-95.9%), from €11,924 to €485
- Receivables within one year -€3,708
down €3,708 (-93.3%), from €3,975 to €267
of which Trade receivables: -€2,057
- Cash -€3,106
down €3,106 (-80.5%), from €3,859 to €752
- Profit (loss) carried forward -€13,673
down €13,673, from €4,019 to -€9,654
- Trade debts -€6,421
down €6,421 (-55.0%), from €11,668 to €5,247
- Other debts +€1,841
up €1,841 (+172%), from €1,071 to €2,912
- Gross operating margin -€13,233
down €13,233, from €7,852 to -€5,380
- Other operating charges +€2,558
up €2,558 (+1,098%), from €233 to €2,791
- Depreciation -€2,048
down €2,048 (-30.4%), from €6,744 to €4,696
- Financial income -€357
no longer reported in 2024 (was €357)
- Financial charges +€248
up €248 (+3,462%), from €7 to €255
From the 2022 result to the 2024 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,758 | €1,505 | -€18,253 | -92.4% |
| Fixed assets | 21/28 | €11,924 | €485 | -€11,439 | -95.9% |
| Tangible fixed assets | 22/27 | €11,924 | €485 | -€11,439 | -95.9% |
| Furniture and vehicles | 24 | €11,924 | €485 | -€11,439 | -95.9% |
| Current assets | 29/58 | €7,834 | €1,020 | -€6,814 | -87.0% |
| Amounts receivable within one year | 40/41 | €3,975 | €267 | -€3,708 | -93.3% |
| Trade receivables | 40 | €2,057 | - | -€2,057 | |
| Other amounts receivable | 41 | €1,918 | €267 | -€1,650 | -86.1% |
| Cash at bank and in hand | 54/58 | €3,859 | €752 | -€3,106 | -80.5% |
| Total equity and liabilities | 10/49 | €19,758 | €1,505 | -€18,253 | -92.4% |
| Equity | 10/15 | €7,019 | -€6,654 | -€13,673 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,019 | -€9,654 | -€13,673 | |
| Amounts payable | 17/49 | €12,739 | €8,159 | -€4,580 | -36.0% |
| Amounts payable within one year | 42/48 | €12,739 | €8,159 | -€4,580 | -36.0% |
| Trade debts | 44 | €11,668 | €5,247 | -€6,421 | -55.0% |
| Suppliers | 440/4 | €11,668 | €5,247 | -€6,421 | -55.0% |
| Other amounts payable | 47/48 | €1,071 | €2,912 | +€1,841 | +172% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,744 | €4,696 | -€2,048 | -30.4% |
| Other operating charges | 640/8 | €233 | €2,791 | +€2,558 | +1,098% |
| Gross operating margin | 9900 | €7,852 | -€5,380 | -€13,233 | |
| Operating profit (loss) | 9901 | €876 | -€12,867 | -€13,743 | |
| Financial income | 75/76B | €357 | - | -€357 | |
| Recurring financial income | 75 | €357 | - | -€357 | |
| Financial charges | 65/66B | €7 | €255 | +€248 | +3,462% |
| Recurring financial charges | 65 | €7 | €255 | +€248 | +3,462% |
| Profit (loss) for the period before taxes | 9903 | €1,225 | -€13,122 | -€14,347 | |
| Income taxes | 67/77 | - | €29 | +€29 | |
| Profit (loss) for the period | 9904 | €1,225 | -€13,151 | -€14,376 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,225 | -€13,151 | -€14,376 |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.