Artalex: 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.
Artalex
Largest movements
- Receivables within one year +€5,765
up €5,765 (+700%), from €824 to €6,589
of which Trade receivables: +€5,610
- Tangible fixed assets +€3,683
up €3,683 (+1.1%), from €350,331 to €354,014
of which Furniture and vehicles: +€4,014
- Debts after one year +€80,555
up €80,555 (+71.1%), from €113,305 to €193,860
- Current portion of long-term debt -€50,947
down €50,947 (-72.4%), from €70,371 to €19,425
- Reserves -€19,543
down €19,543 (-12.2%), from €160,134 to €140,591
of which Distributable reserves: -€19,543
- Gross operating margin -€19,662
down €19,662, from €11,426 to -€8,236
- Financial charges +€3,030
up €3,030 (+52.4%), from €5,783 to €8,813
- Taxes -€1,225
down €1,225 (-84.1%), from €1,457 to €232
- Other operating charges +€342
up €342 (+27.4%), from €1,250 to €1,592
- Depreciation +€318
up €318 (+81.3%), from €391 to €709
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 | €355,644 | €367,402 | +€11,758 | +3.3% |
| Fixed assets | 21/28 | €350,331 | €354,014 | +€3,683 | +1.1% |
| Tangible fixed assets | 22/27 | €350,331 | €354,014 | +€3,683 | +1.1% |
| Land and buildings | 22 | €350,000 | €350,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €331 | - | -€331 | |
| Furniture and vehicles | 24 | - | €4,014 | +€4,014 | |
| Current assets | 29/58 | €5,313 | €13,388 | +€8,075 | +152% |
| Amounts receivable within one year | 40/41 | €824 | €6,589 | +€5,765 | +700% |
| Trade receivables | 40 | - | €5,610 | +€5,610 | |
| Other amounts receivable | 41 | €824 | €979 | +€155 | +18.9% |
| Cash at bank and in hand | 54/58 | €4,464 | €5,741 | +€1,277 | +28.6% |
| Deferred charges and accrued income | 490/1 | €25 | €1,058 | +€1,033 | +4,052% |
| Total equity and liabilities | 10/49 | €355,644 | €367,402 | +€11,758 | +3.3% |
| Equity | 10/15 | €167,579 | €148,036 | -€19,543 | -11.7% |
| Contributions | 10/11 | €7,445 | €7,445 | = | 0.0% |
| Contributions outside capital | 11 | €7,445 | €7,445 | = | 0.0% |
| Other | 1109/19 | €7,445 | €7,445 | = | 0.0% |
| Reserves | 13 | €160,134 | €140,591 | -€19,543 | -12.2% |
| Tax-exempt reserves | 132 | €22,121 | €22,121 | = | 0.0% |
| Distributable reserves | 133 | €138,013 | €118,470 | -€19,543 | -14.2% |
| Amounts payable | 17/49 | €188,065 | €219,366 | +€31,301 | +16.6% |
| Amounts payable after more than one year | 17 | €113,305 | €193,860 | +€80,555 | +71.1% |
| Financial debts | 170/4 | €113,305 | €193,860 | +€80,555 | +71.1% |
| Amounts payable within one year | 42/48 | €74,760 | €25,506 | -€49,254 | -65.9% |
| Current portion of amounts payable after more than one year | 42 | €70,371 | €19,425 | -€50,947 | -72.4% |
| Trade debts | 44 | €2,972 | €4,020 | +€1,048 | +35.3% |
| Suppliers | 440/4 | €2,972 | €4,020 | +€1,048 | +35.3% |
| Taxes, remuneration and social security | 45 | €1,417 | €2,062 | +€645 | +45.5% |
| Taxes | 450/3 | €1,417 | €2,062 | +€645 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €391 | €709 | +€318 | +81.3% |
| Other operating charges | 640/8 | €1,250 | €1,592 | +€342 | +27.4% |
| Non-recurring operating charges | 66A | €391 | - | -€391 | |
| Gross operating margin | 9900 | €11,426 | -€8,236 | -€19,662 | |
| Operating profit (loss) | 9901 | €9,395 | -€10,536 | -€19,931 | |
| Financial income | 75/76B | €134 | €38 | -€95 | -71.3% |
| Recurring financial income | 75 | €134 | €38 | -€95 | -71.3% |
| Financial charges | 65/66B | €5,783 | €8,813 | +€3,030 | +52.4% |
| Recurring financial charges | 65 | €5,783 | €8,813 | +€3,030 | +52.4% |
| Profit (loss) for the period before taxes | 9903 | €3,746 | -€19,311 | -€23,057 | |
| Income taxes | 67/77 | €1,457 | €232 | -€1,225 | -84.1% |
| Profit (loss) for the period | 9904 | €2,288 | -€19,543 | -€21,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,288 | -€19,543 | -€21,832 |
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 29 October 2026 via checked.be.