ARTAESEAN: 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.
ARTAESEAN
Largest movements
- Receivables within one year +€55,058
up €55,058 (+114.8%), from €47,972 to €103,030
of which Trade receivables: +€70,065
- Cash +€7,354
up €7,354 (+4.6%), from €159,943 to €167,298
mainly Net result for the year (+€73,925) and Deferred charges and accrued income (+€4,304)
- Deferred charges and accrued income -€4,304
down €4,304 (-27.3%), from €15,747 to €11,443
- Profit (loss) carried forward +€73,925
up €73,925 (+376.8%), from €19,620 to €93,544
- Trade debts -€20,061
down €20,061 (-22.0%), from €91,216 to €71,155
- Gross operating margin +€34,003
up €34,003 (+10.0%), from €338,377 to €372,380
- Staff costs -€12,711
down €12,711 (-4.5%), from €282,623 to €269,912
- Taxes +€7,976
up €7,976 (+62.3%), from €12,794 to €20,771
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.
Cash bridge derived
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 | €226,173 | €282,577 | +€56,403 | +24.9% |
| Fixed assets | 21/28 | €2,510 | €805 | -€1,705 | -67.9% |
| Tangible fixed assets | 22/27 | €2,480 | €805 | -€1,675 | -67.5% |
| Furniture and vehicles | 24 | €2,480 | €805 | -€1,675 | -67.5% |
| Financial fixed assets | 28 | €30 | €0 | -€30 | -100.0% |
| Current assets | 29/58 | €223,663 | €281,771 | +€58,108 | +26.0% |
| Amounts receivable within one year | 40/41 | €47,972 | €103,030 | +€55,058 | +114.8% |
| Trade receivables | 40 | €30,661 | €100,726 | +€70,065 | +228.5% |
| Other amounts receivable | 41 | €17,311 | €2,304 | -€15,007 | -86.7% |
| Cash at bank and in hand | 54/58 | €159,943 | €167,298 | +€7,354 | +4.6% |
| Deferred charges and accrued income | 490/1 | €15,747 | €11,443 | -€4,304 | -27.3% |
| Total equity and liabilities | 10/49 | €226,173 | €282,577 | +€56,403 | +24.9% |
| Equity | 10/15 | €127,020 | €200,944 | +€73,925 | +58.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,200 | €101,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €99,200 | €99,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,620 | €93,544 | +€73,925 | +376.8% |
| Amounts payable | 17/49 | €99,154 | €81,632 | -€17,521 | -17.7% |
| Amounts payable within one year | 42/48 | €99,154 | €81,632 | -€17,521 | -17.7% |
| Trade debts | 44 | €91,216 | €71,155 | -€20,061 | -22.0% |
| Suppliers | 440/4 | €91,216 | €71,155 | -€20,061 | -22.0% |
| Taxes, remuneration and social security | 45 | €7,938 | €10,478 | +€2,539 | +32.0% |
| Taxes | 450/3 | - | €3,575 | +€3,575 | |
| Remuneration and social security | 454/9 | €7,938 | €6,903 | -€1,036 | -13.0% |
| Remuneration, social security and pensions | 62 | €282,623 | €269,912 | -€12,711 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €870 | €1,675 | +€805 | +92.6% |
| Other operating charges | 640/8 | €2,855 | €2,044 | -€811 | -28.4% |
| Gross operating margin | 9900 | €338,377 | €372,380 | +€34,003 | +10.0% |
| Operating profit (loss) | 9901 | €52,030 | €98,750 | +€46,719 | +89.8% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.8% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.8% |
| Financial charges | 65/66B | €1,835 | €4,054 | +€2,220 | +121.0% |
| Recurring financial charges | 65 | €1,835 | €4,054 | +€2,220 | +121.0% |
| Profit (loss) for the period before taxes | 9903 | €50,201 | €94,696 | +€44,495 | +88.6% |
| Income taxes | 67/77 | €12,794 | €20,771 | +€7,976 | +62.3% |
| Profit (loss) for the period | 9904 | €37,406 | €73,925 | +€36,518 | +97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,406 | €73,925 | +€36,518 | +97.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.