ARTALES IMMO: what changed
Two fiscal 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.
ARTALES IMMO
Largest movements
- Tangible fixed assets +€745,665
up €745,665 (+20.2%), from €3.7m to €4.4m
of which Land and buildings: +€746,416
- Receivables within one year +€380,490
up €380,490 (+88.8%), from €428,508 to €808,997
of which Other amounts receivable: +€366,489
- Other debts +€1.2m
up €1.2m (+4.3%), from €27.4m to €28.5m
- Financial charges +€69,040
up €69,040 (+54.3%), from €127,108 to €196,148
- Taxes +€44,128
up €44,128 (+292.8%), from €15,069 to €59,197
- Depreciation -€40,467
down €40,467 (-16.9%), from €239,874 to €199,407
- Gross operating margin -€27,857
down €27,857 (-6.9%), from €401,765 to €373,908
- Other operating charges -€7,709
down €7,709 (-42.6%), from €18,091 to €10,381
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 | €27,542,439 | €28,621,477 | +€1.1m | +3.9% |
| Fixed assets | 21/28 | €26,983,091 | €27,728,756 | +€745,665 | +2.8% |
| Tangible fixed assets | 22/27 | €3,689,091 | €4,434,756 | +€745,665 | +20.2% |
| Land and buildings | 22 | €3,685,444 | €4,431,861 | +€746,416 | +20.3% |
| Furniture and vehicles | 24 | €3,647 | €2,895 | -€752 | -20.6% |
| Financial fixed assets | 28 | €23,294,000 | €23,294,000 | = | 0.0% |
| Current assets | 29/58 | €559,349 | €892,721 | +€333,373 | +59.6% |
| Amounts receivable within one year | 40/41 | €428,508 | €808,997 | +€380,490 | +88.8% |
| Trade receivables | 40 | €413,599 | €427,600 | +€14,001 | +3.4% |
| Other amounts receivable | 41 | €14,908 | €381,397 | +€366,489 | +2458.3% |
| Cash at bank and in hand | 54/58 | €122,192 | €81,905 | -€40,287 | -33.0% |
| Deferred charges and accrued income | 490/1 | €8,649 | €1,818 | -€6,830 | -79.0% |
| Total equity and liabilities | 10/49 | €27,542,439 | €28,621,477 | +€1.1m | +3.9% |
| Equity | 10/15 | €121,909 | €30,683 | -€91,226 | -74.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,309 | €103,309 | = | 0.0% |
| Distributable reserves | 133 | €103,309 | €103,309 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€91,226 | -€91,226 | |
| Amounts payable | 17/49 | €27,420,531 | €28,590,794 | +€1.2m | +4.3% |
| Amounts payable after more than one year | 17 | €29,920 | €6,070 | -€23,850 | -79.7% |
| Financial debts | 170/4 | €29,920 | €6,070 | -€23,850 | -79.7% |
| Amounts payable within one year | 42/48 | €27,390,058 | €28,584,724 | +€1.2m | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €23,177 | €23,850 | +€673 | +2.9% |
| Trade debts | 44 | €5,793 | €15,807 | +€10,014 | +172.9% |
| Suppliers | 440/4 | €5,793 | €15,807 | +€10,014 | +172.9% |
| Taxes, remuneration and social security | 45 | €1,688 | €2,397 | +€709 | +42.0% |
| Taxes | 450/3 | €1,688 | €2,397 | +€709 | +42.0% |
| Other amounts payable | 47/48 | €27,359,400 | €28,542,670 | +€1.2m | +4.3% |
| Accrued charges and deferred income | 492/3 | €553 | €0 | -€553 | -100.0% |
| Non-recurring operating income | 76A | €149 | €0 | -€149 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €239,874 | €199,407 | -€40,467 | -16.9% |
| Other operating charges | 640/8 | €18,091 | €10,381 | -€7,709 | -42.6% |
| Gross operating margin | 9900 | €401,765 | €373,908 | -€27,857 | -6.9% |
| Operating profit (loss) | 9901 | €143,800 | €164,119 | +€20,319 | +14.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €127,108 | €196,148 | +€69,040 | +54.3% |
| Recurring financial charges | 65 | €127,108 | €196,148 | +€69,040 | +54.3% |
| Profit (loss) for the period before taxes | 9903 | €16,692 | -€32,029 | -€48,721 | |
| Income taxes | 67/77 | €15,069 | €59,197 | +€44,128 | +292.8% |
| Profit (loss) for the period | 9904 | €1,623 | -€91,226 | -€92,848 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,623 | -€91,226 | -€92,848 |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.