Art-X: 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-X
Largest movements
- Tangible fixed assets +€20,566
up €20,566 (+155%), from €13,262 to €33,828
of which Plant, machinery and equipment: +€11,685
- Receivables within one year -€5,505
down €5,505 (-15.0%), from €36,627 to €31,121
of which Trade receivables: -€3,154
- Deferred charges and accrued income +€1,592
up €1,592 (+2,130%), from €75 to €1,667
- Cash +€1,130
up €1,130 (+267%), from €424 to €1,553
mainly Net result for the year (+€15,004) and Trade debts (+€12,769)
- Profit (loss) carried forward +€15,004
up €15,004 (+652%), from €2,302 to €17,306
- Trade debts +€12,769
up €12,769 (+210%), from €6,078 to €18,847
- Advances received -€8,032
down €8,032 (-100%), from €8,032 to €0
- Debts after one year -€5,903
down €5,903 (-28.9%), from €20,404 to €14,501
- Tax, wage and social debts +€2,817
up €2,817 (+135%), from €2,079 to €4,896
- Gross operating margin +€17,976
up €17,976 (+328%), from €5,473 to €23,449
- Depreciation +€3,567
up €3,567 (+312%), from €1,144 to €4,711
- Taxes +€2,850
up €2,850 (+523%), from €545 to €3,396
- Financial income +€1,934
up €1,934 (+2,545%), from €76 to €2,010
- Financial charges +€474
up €474 (+30.4%), from €1,558 to €2,032
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 | €50,387 | €68,169 | +€17,782 | +35.3% |
| Fixed assets | 21/28 | €13,262 | €33,828 | +€20,566 | +155% |
| Tangible fixed assets | 22/27 | €13,262 | €33,828 | +€20,566 | +155% |
| Plant, machinery and equipment | 23 | €11,342 | €23,028 | +€11,685 | +103% |
| Furniture and vehicles | 24 | €1,920 | €10,800 | +€8,880 | +463% |
| Current assets | 29/58 | €37,125 | €34,341 | -€2,784 | -7.5% |
| Amounts receivable within one year | 40/41 | €36,627 | €31,121 | -€5,505 | -15.0% |
| Trade receivables | 40 | €7,922 | €4,768 | -€3,154 | -39.8% |
| Other amounts receivable | 41 | €28,704 | €26,354 | -€2,351 | -8.2% |
| Cash at bank and in hand | 54/58 | €424 | €1,553 | +€1,130 | +267% |
| Deferred charges and accrued income | 490/1 | €75 | €1,667 | +€1,592 | +2,130% |
| Total equity and liabilities | 10/49 | €50,387 | €68,169 | +€17,782 | +35.3% |
| Equity | 10/15 | €7,302 | €22,306 | +€15,004 | +205% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,302 | €17,306 | +€15,004 | +652% |
| Amounts payable | 17/49 | €43,086 | €45,864 | +€2,778 | +6.4% |
| Amounts payable after more than one year | 17 | €20,404 | €14,501 | -€5,903 | -28.9% |
| Financial debts | 170/4 | €20,404 | €14,501 | -€5,903 | -28.9% |
| Amounts payable within one year | 42/48 | €22,183 | €30,046 | +€7,863 | +35.4% |
| Current portion of amounts payable after more than one year | 42 | €5,594 | €5,903 | +€309 | +5.5% |
| Trade debts | 44 | €6,078 | €18,847 | +€12,769 | +210% |
| Suppliers | 440/4 | €6,078 | €18,847 | +€12,769 | +210% |
| Advances received on contracts in progress | 46 | €8,032 | €0 | -€8,032 | -100% |
| Taxes, remuneration and social security | 45 | €2,079 | €4,896 | +€2,817 | +135% |
| Taxes | 450/3 | €2,079 | €4,896 | +€2,817 | +135% |
| Other amounts payable | 47/48 | €400 | €400 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €499 | €1,316 | +€817 | +164% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,144 | €4,711 | +€3,567 | +312% |
| Other operating charges | 640/8 | - | €316 | +€316 | |
| Gross operating margin | 9900 | €5,473 | €23,449 | +€17,976 | +328% |
| Operating profit (loss) | 9901 | €4,329 | €18,422 | +€14,093 | +326% |
| Financial income | 75/76B | €76 | €2,010 | +€1,934 | +2,545% |
| Recurring financial income | 75 | €76 | €2,010 | +€1,934 | +2,545% |
| Financial charges | 65/66B | €1,558 | €2,032 | +€474 | +30.4% |
| Recurring financial charges | 65 | €1,558 | €2,032 | +€474 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €2,847 | €18,400 | +€15,553 | +546% |
| Income taxes | 67/77 | €545 | €3,396 | +€2,850 | +523% |
| Profit (loss) for the period | 9904 | €2,302 | €15,004 | +€12,703 | +552% |
| Profit (loss) for the period to be appropriated | 9905 | €2,302 | €15,004 | +€12,703 | +552% |
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 19 October 2026 via checked.be.