ARTBOREAL: 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.
ARTBOREAL
Largest movements
- Tangible fixed assets +€16,223
up €16,223 (+5.6%), from €289,091 to €305,314
of which Furniture and vehicles: +€10,949
- Cash +€7,731
up €7,731 (+294%), from €2,629 to €10,360
mainly Debts after one year (+€48,789) and Depreciation (+€10,460)
- Debts after one year +€48,789
up €48,789 (+50.3%), from €96,952 to €145,741
- Profit (loss) carried forward -€29,801
down €29,801 (-66.9%), from -€44,546 to -€74,347
- Other debts +€7,921
up €7,921 (+4.1%), from €193,307 to €201,227
- Gross operating margin -€11,819
down €11,819 (-581%), from -€2,033 to -€13,852
- Depreciation +€1,615
up €1,615 (+18.3%), from €8,844 to €10,460
- Financial charges +€970
up €970 (+34.2%), from €2,834 to €3,804
- Other operating charges +€446
up €446 (+35.7%), from €1,249 to €1,695
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 | €307,989 | €333,463 | +€25,474 | +8.3% |
| Fixed assets | 21/28 | €289,091 | €305,314 | +€16,223 | +5.6% |
| Tangible fixed assets | 22/27 | €289,091 | €305,314 | +€16,223 | +5.6% |
| Land and buildings | 22 | €147,500 | €147,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €5,274 | +€5,274 | |
| Furniture and vehicles | 24 | €141,591 | €152,540 | +€10,949 | +7.7% |
| Current assets | 29/58 | €18,899 | €28,149 | +€9,251 | +48.9% |
| Amounts receivable within one year | 40/41 | €16,270 | €17,790 | +€1,520 | +9.3% |
| Trade receivables | 40 | €14,571 | €16,334 | +€1,763 | +12.1% |
| Other amounts receivable | 41 | €1,698 | €1,455 | -€243 | -14.3% |
| Cash at bank and in hand | 54/58 | €2,629 | €10,360 | +€7,731 | +294% |
| Total equity and liabilities | 10/49 | €307,989 | €333,463 | +€25,474 | +8.3% |
| Equity | 10/15 | €254 | -€29,547 | -€29,801 | |
| Contributions | 10/11 | €44,800 | €44,800 | = | 0.0% |
| Capital | 10 | €44,800 | €44,800 | = | 0.0% |
| Issued capital | 100 | €44,800 | €44,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,546 | -€74,347 | -€29,801 | -66.9% |
| Amounts payable | 17/49 | €307,735 | €363,010 | +€55,275 | +18.0% |
| Amounts payable after more than one year | 17 | €96,952 | €145,741 | +€48,789 | +50.3% |
| Financial debts | 170/4 | €96,952 | €145,741 | +€48,789 | +50.3% |
| Amounts payable within one year | 42/48 | €210,783 | €217,269 | +€6,486 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €14,920 | €14,269 | -€651 | -4.4% |
| Trade debts | 44 | €2,556 | €1,272 | -€1,284 | -50.2% |
| Suppliers | 440/4 | €2,556 | €1,272 | -€1,284 | -50.2% |
| Taxes, remuneration and social security | 45 | - | €500 | +€500 | |
| Taxes | 450/3 | - | €500 | +€500 | |
| Other amounts payable | 47/48 | €193,307 | €201,227 | +€7,921 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,844 | €10,460 | +€1,615 | +18.3% |
| Other operating charges | 640/8 | €1,249 | €1,695 | +€446 | +35.7% |
| Gross operating margin | 9900 | -€2,033 | -€13,852 | -€11,819 | -581% |
| Operating profit (loss) | 9901 | -€12,126 | -€26,006 | -€13,880 | -114% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €2,834 | €3,804 | +€970 | +34.2% |
| Recurring financial charges | 65 | €2,834 | €3,804 | +€970 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,959 | -€29,801 | -€14,841 | -99.2% |
| Profit (loss) for the period | 9904 | -€14,959 | -€29,801 | -€14,841 | -99.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,959 | -€29,801 | -€14,841 | -99.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.