ARTBEAUTE: 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.
ARTBEAUTE
Largest movements
- Receivables within one year -€18,295
down €18,295 (-89.1%), from €20,530 to €2,236
of which Trade receivables: -€12,614
- Cash -€3,631
down €3,631 (-66.5%), from €5,458 to €1,828
mainly Debts after one year (-€24,989) and Investment in fixed assets (net) (-€14,262)
- Deferred charges and accrued income +€2,906
up €2,906 (+121.8%), from €2,387 to €5,293
- Tangible fixed assets +€2,582
up €2,582 (+3.1%), from €83,054 to €85,637
of which Plant, machinery and equipment: +€8,423
- Current investments -€2,490
down €2,490 (-99.3%), from €2,507 to €18
- Debts after one year -€24,989
down €24,989 (-59.1%), from €42,278 to €17,289
- Trade debts -€12,356
down €12,356 (-52.7%), from €23,435 to €11,079
- Current portion of long-term debt +€9,108
up €9,108 (+133.9%), from €6,800 to €15,908
- Tax, wage and social debts +€8,131
up €8,131 (+114.3%), from €7,112 to €15,243
of which Taxes: +€4,978
- Short-term financial debts +€7,117
new in 2025: €7,117
- Gross operating margin +€21,981
up €21,981 (+47.8%), from €45,998 to €67,978
- Staff costs +€17,793
up €17,793 (+53.4%), from €33,309 to €51,102
- Depreciation +€5,577
up €5,577 (+62.0%), from €9,001 to €14,578
- Financial charges -€1,874
down €1,874 (-72.2%), from €2,594 to €721
of which Financial charges: -€1,602
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 | €139,898 | €118,906 | -€20,992 | -15.0% |
| Formation expenses | 20 | €8,491 | €6,052 | -€2,439 | -28.7% |
| Fixed assets | 21/28 | €83,653 | €85,777 | +€2,123 | +2.5% |
| Intangible fixed assets | 21 | €459 | - | -€459 | |
| Tangible fixed assets | 22/27 | €83,054 | €85,637 | +€2,582 | +3.1% |
| Land and buildings | 22 | - | €593 | +€593 | |
| Plant, machinery and equipment | 23 | €5,570 | €13,993 | +€8,423 | +151.2% |
| Furniture and vehicles | 24 | - | €1,011 | +€1,011 | |
| Leasing and similar rights | 25 | €24,825 | €21,600 | -€3,225 | -13.0% |
| Other tangible fixed assets | 26 | €52,659 | €48,438 | -€4,221 | -8.0% |
| Financial fixed assets | 28 | €140 | €140 | = | 0.0% |
| Current assets | 29/58 | €47,754 | €27,078 | -€20,676 | -43.3% |
| Stocks and contracts in progress | 3 | €16,871 | €17,704 | +€833 | +4.9% |
| Stocks | 30/36 | €16,871 | €17,704 | +€833 | +4.9% |
| Amounts receivable within one year | 40/41 | €20,530 | €2,236 | -€18,295 | -89.1% |
| Trade receivables | 40 | €13,477 | €864 | -€12,614 | -93.6% |
| Other amounts receivable | 41 | €7,053 | €1,372 | -€5,681 | -80.5% |
| Current investments | 50/53 | €2,507 | €18 | -€2,490 | -99.3% |
| Cash at bank and in hand | 54/58 | €5,458 | €1,828 | -€3,631 | -66.5% |
| Deferred charges and accrued income | 490/1 | €2,387 | €5,293 | +€2,906 | +121.8% |
| Total equity and liabilities | 10/49 | €139,898 | €118,906 | -€20,992 | -15.0% |
| Equity | 10/15 | €5,323 | €6,777 | +€1,454 | +27.3% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €1,076 | €1,076 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,076 | €1,076 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,076 | €1,076 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,952 | -€4,498 | +€1,454 | +24.4% |
| Amounts payable | 17/49 | €134,575 | €112,129 | -€22,446 | -16.7% |
| Amounts payable after more than one year | 17 | €42,278 | €17,289 | -€24,989 | -59.1% |
| Financial debts | 170/4 | €42,278 | €17,289 | -€24,989 | -59.1% |
| Amounts payable within one year | 42/48 | €87,679 | €94,840 | +€7,161 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €6,800 | €15,908 | +€9,108 | +133.9% |
| Financial debts | 43 | - | €7,117 | +€7,117 | |
| Credit institutions | 430/8 | - | €7,117 | +€7,117 | |
| Trade debts | 44 | €23,435 | €11,079 | -€12,356 | -52.7% |
| Suppliers | 440/4 | €23,435 | €11,079 | -€12,356 | -52.7% |
| Taxes, remuneration and social security | 45 | €7,112 | €15,243 | +€8,131 | +114.3% |
| Taxes | 450/3 | €1,335 | €6,313 | +€4,978 | +372.9% |
| Remuneration and social security | 454/9 | €5,777 | €8,930 | +€3,153 | +54.6% |
| Other amounts payable | 47/48 | €50,332 | €45,493 | -€4,839 | -9.6% |
| Accrued charges and deferred income | 492/3 | €4,618 | - | -€4,618 | |
| Remuneration, social security and pensions | 62 | €33,309 | €51,102 | +€17,793 | +53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,001 | €14,578 | +€5,577 | +62.0% |
| Other operating charges | 640/8 | €318 | €124 | -€194 | -60.9% |
| Gross operating margin | 9900 | €45,998 | €67,978 | +€21,981 | +47.8% |
| Operating profit (loss) | 9901 | €3,370 | €2,175 | -€1,195 | -35.5% |
| Financial charges | 65/66B | €2,594 | €721 | -€1,874 | -72.2% |
| Recurring financial charges | 65 | €2,322 | €721 | -€1,602 | -69.0% |
| Non-recurring financial charges | 66B | €272 | - | -€272 | |
| Profit (loss) for the period before taxes | 9903 | €775 | €1,454 | +€679 | +87.6% |
| Profit (loss) for the period | 9904 | €775 | €1,454 | +€679 | +87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €775 | €1,454 | +€679 | +87.6% |
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 8 October 2026 via checked.be.