ARTCAL: 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.
ARTCAL
Largest movements
- Cash +€413,802
up €413,802 (+2865.0%), from €14,443 to €428,246
mainly Net result for the year (+€374,772) and Tax, wage and social debts (+€46,422)
- Current investments +€60,000
up €60,000 (+15.4%), from €390,000 to €450,000
- Receivables within one year -€38,994
down €38,994 (-80.2%), from €48,641 to €9,647
of which Trade receivables: -€29,925
- Reserves +€374,772
up €374,772 (+88.9%), from €421,521 to €796,294
of which Distributable reserves: +€378,522
- Tax, wage and social debts +€46,422
up €46,422 (+305.8%), from €15,182 to €61,604
- Financial income +€360,955
up €360,955 (+5823.4%), from €6,198 to €367,153
- Taxes +€40,165
up €40,165 (+238.9%), from €16,811 to €56,976
- Gross operating margin +€25,901
up €25,901 (+53.6%), from €48,290 to €74,190
- Depreciation +€3,481
up €3,481 (+75.1%), from €4,634 to €8,115
- Other operating charges -€963
down €963 (-44.7%), from €2,157 to €1,193
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 | €739,766 | €1,165,745 | +€425,979 | +57.6% |
| Fixed assets | 21/28 | €285,939 | €277,824 | -€8,115 | -2.8% |
| Tangible fixed assets | 22/27 | €35,939 | €27,824 | -€8,115 | -22.6% |
| Furniture and vehicles | 24 | €35,939 | €27,824 | -€8,115 | -22.6% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €453,827 | €887,921 | +€434,094 | +95.7% |
| Amounts receivable within one year | 40/41 | €48,641 | €9,647 | -€38,994 | -80.2% |
| Trade receivables | 40 | €39,000 | €9,075 | -€29,925 | -76.7% |
| Other amounts receivable | 41 | €9,641 | €572 | -€9,069 | -94.1% |
| Current investments | 50/53 | €390,000 | €450,000 | +€60,000 | +15.4% |
| Cash at bank and in hand | 54/58 | €14,443 | €428,246 | +€413,802 | +2865.0% |
| Deferred charges and accrued income | 490/1 | €743 | €29 | -€714 | -96.2% |
| Total equity and liabilities | 10/49 | €739,766 | €1,165,745 | +€425,979 | +57.6% |
| Equity | 10/15 | €688,522 | €1,063,294 | +€374,772 | +54.4% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €421,521 | €796,294 | +€374,772 | +88.9% |
| Non-distributable reserves | 130/1 | €3,750 | - | -€3,750 | |
| Reserves not available under the articles | 1311 | €3,750 | - | -€3,750 | |
| Distributable reserves | 133 | €417,771 | €796,294 | +€378,522 | +90.6% |
| Profit (loss) carried forward | 14 | €229,501 | €229,501 | = | 0.0% |
| Amounts payable | 17/49 | €51,244 | €102,451 | +€51,207 | +99.9% |
| Amounts payable within one year | 42/48 | €50,704 | €102,177 | +€51,473 | +101.5% |
| Trade debts | 44 | €2,052 | €993 | -€1,059 | -51.6% |
| Suppliers | 440/4 | €2,052 | €993 | -€1,059 | -51.6% |
| Taxes, remuneration and social security | 45 | €15,182 | €61,604 | +€46,422 | +305.8% |
| Taxes | 450/3 | €15,182 | €61,604 | +€46,422 | +305.8% |
| Other amounts payable | 47/48 | €33,469 | €39,579 | +€6,110 | +18.3% |
| Accrued charges and deferred income | 492/3 | €540 | €274 | -€266 | -49.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,634 | €8,115 | +€3,481 | +75.1% |
| Other operating charges | 640/8 | €2,157 | €1,193 | -€963 | -44.7% |
| Gross operating margin | 9900 | €48,290 | €74,190 | +€25,901 | +53.6% |
| Operating profit (loss) | 9901 | €41,500 | €64,883 | +€23,383 | +56.3% |
| Financial income | 75/76B | €6,198 | €367,153 | +€360,955 | +5823.4% |
| Recurring financial income | 75 | €6,198 | €367,153 | +€360,955 | +5823.4% |
| Financial charges | 65/66B | €520 | €288 | -€232 | -44.6% |
| Recurring financial charges | 65 | €520 | €288 | -€232 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | €47,178 | €431,748 | +€384,570 | +815.2% |
| Income taxes | 67/77 | €16,811 | €56,976 | +€40,165 | +238.9% |
| Profit (loss) for the period | 9904 | €30,367 | €374,772 | +€344,405 | +1134.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,367 | €374,772 | +€344,405 | +1134.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.