Artas: 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.
Artas
Largest movements
- Tangible fixed assets +€1.6m
up €1.6m (+139.5%), from €1.1m to €2.7m
of which Land and buildings: +€1.6m
- Receivables within one year -€90,496
down €90,496 (-54.3%), from €166,700 to €76,205
of which Trade receivables: -€81,945
- Cash -€77,963
down €77,963 (-78.8%), from €98,891 to €20,928
mainly Investment in fixed assets (net) (-€1.7m) and Smaller working-capital items (-€517)
- Debts after one year +€1.3m
up €1.3m (+189.5%), from €683,548 to €2.0m
- Trade debts +€79,053
up €79,053 (+70269.4%), from €113 to €79,166
- Gross operating margin +€97,201
up €97,201 (+112.1%), from €86,712 to €183,912
- Depreciation +€47,266
up €47,266 (+141.4%), from €33,419 to €80,684
- Financial charges +€40,420
up €40,420 (+147.6%), from €27,376 to €67,795
- Taxes +€9,745
up €9,745 (+112.0%), from €8,700 to €18,444
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 | €1,400,455 | €2,814,453 | +€1.4m | +101.0% |
| Fixed assets | 21/28 | €1,134,111 | €2,716,168 | +€1.6m | +139.5% |
| Tangible fixed assets | 22/27 | €1,134,111 | €2,716,168 | +€1.6m | +139.5% |
| Land and buildings | 22 | €1,122,906 | €2,678,357 | +€1.6m | +138.5% |
| Plant, machinery and equipment | 23 | €373 | €225 | -€147 | -39.5% |
| Furniture and vehicles | 24 | €10,833 | €37,586 | +€26,753 | +247.0% |
| Current assets | 29/58 | €266,344 | €98,284 | -€168,060 | -63.1% |
| Amounts receivable within one year | 40/41 | €166,700 | €76,205 | -€90,496 | -54.3% |
| Trade receivables | 40 | €158,150 | €76,205 | -€81,945 | -51.8% |
| Other amounts receivable | 41 | €8,550 | - | -€8,550 | |
| Cash at bank and in hand | 54/58 | €98,891 | €20,928 | -€77,963 | -78.8% |
| Deferred charges and accrued income | 490/1 | €753 | €1,152 | +€399 | +53.0% |
| Total equity and liabilities | 10/49 | €1,400,455 | €2,814,453 | +€1.4m | +101.0% |
| Equity | 10/15 | €428,387 | €442,253 | +€13,866 | +3.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €409,837 | €423,703 | +€13,866 | +3.4% |
| Distributable reserves | 133 | €409,837 | €423,703 | +€13,866 | +3.4% |
| Amounts payable | 17/49 | €972,068 | €2,372,200 | +€1.4m | +144.0% |
| Amounts payable after more than one year | 17 | €683,548 | €1,978,669 | +€1.3m | +189.5% |
| Financial debts | 170/4 | €683,548 | €1,978,669 | +€1.3m | +189.5% |
| Amounts payable within one year | 42/48 | €269,348 | €374,476 | +€105,128 | +39.0% |
| Current portion of amounts payable after more than one year | 42 | €54,265 | €54,878 | +€614 | +1.1% |
| Trade debts | 44 | €113 | €79,166 | +€79,053 | +70269.4% |
| Suppliers | 440/4 | €113 | €79,166 | +€79,053 | +70269.4% |
| Taxes, remuneration and social security | 45 | €9,415 | €18,451 | +€9,036 | +96.0% |
| Taxes | 450/3 | €9,415 | €18,451 | +€9,036 | +96.0% |
| Other amounts payable | 47/48 | €205,556 | €221,981 | +€16,425 | +8.0% |
| Accrued charges and deferred income | 492/3 | €19,173 | €19,055 | -€118 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,419 | €80,684 | +€47,266 | +141.4% |
| Other operating charges | 640/8 | €3,995 | €3,122 | -€873 | -21.8% |
| Gross operating margin | 9900 | €86,712 | €183,912 | +€97,201 | +112.1% |
| Operating profit (loss) | 9901 | €49,297 | €100,105 | +€50,808 | +103.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -96.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -96.7% |
| Financial charges | 65/66B | €27,376 | €67,795 | +€40,420 | +147.6% |
| Recurring financial charges | 65 | €27,376 | €67,795 | +€40,420 | +147.6% |
| Profit (loss) for the period before taxes | 9903 | €21,922 | €32,310 | +€10,388 | +47.4% |
| Income taxes | 67/77 | €8,700 | €18,444 | +€9,745 | +112.0% |
| Profit (loss) for the period | 9904 | €13,222 | €13,866 | +€644 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,222 | €13,866 | +€644 | +4.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.