ARTCHAP: 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.
ARTCHAP
Largest movements
- Stocks and contracts -€325,578
down €325,578 (-100.0%), from €325,578 to €0
- Receivables within one year +€285,791
up €285,791 (+127.8%), from €223,590 to €509,381
of which Trade receivables: +€284,489
- Tangible fixed assets +€175,613
up €175,613 (+6.1%), from €2.9m to €3.1m
of which Plant, machinery and equipment: +€253,971
- Profit (loss) carried forward -€438,197
down €438,197 (-70.2%), from €623,875 to €185,678
- Debts after one year +€396,918
up €396,918 (+16.0%), from €2.5m to €2.9m
of which Financial debts: +€396,918
- Other debts +€128,613
up €128,613 (+163.0%), from €78,897 to €207,510
- Trade debts +€39,672
up €39,672 (+48.0%), from €82,639 to €122,311
- Gross operating margin -€769,609
down €769,609, from €631,672 to -€137,937
- Financial charges -€106,356
down €106,356 (-44.6%), from €238,600 to €132,244
- Other operating charges -€24,929
down €24,929 (-43.0%), from €57,956 to €33,027
- Taxes -€7,932
down €7,932 (-93.1%), from €8,517 to €585
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 | €3,450,008 | €3,584,992 | +€134,984 | +3.9% |
| Fixed assets | 21/28 | €2,886,890 | €3,066,254 | +€179,363 | +6.2% |
| Tangible fixed assets | 22/27 | €2,886,890 | €3,062,504 | +€175,613 | +6.1% |
| Land and buildings | 22 | €2,102,458 | €2,031,096 | -€71,363 | -3.4% |
| Plant, machinery and equipment | 23 | €775,030 | €1,029,001 | +€253,971 | +32.8% |
| Furniture and vehicles | 24 | €9,402 | €2,407 | -€6,995 | -74.4% |
| Financial fixed assets | 28 | - | €3,750 | +€3,750 | |
| Current assets | 29/58 | €563,118 | €518,738 | -€44,380 | -7.9% |
| Stocks and contracts in progress | 3 | €325,578 | €0 | -€325,578 | -100.0% |
| Stocks | 30/36 | €325,578 | €0 | -€325,578 | -100.0% |
| Amounts receivable within one year | 40/41 | €223,590 | €509,381 | +€285,791 | +127.8% |
| Trade receivables | 40 | €0 | €284,489 | +€284,489 | |
| Other amounts receivable | 41 | €223,590 | €224,893 | +€1,302 | +0.6% |
| Cash at bank and in hand | 54/58 | €5,901 | €3,557 | -€2,344 | -39.7% |
| Deferred charges and accrued income | 490/1 | €8,049 | €5,800 | -€2,249 | -27.9% |
| Total equity and liabilities | 10/49 | €3,450,008 | €3,584,992 | +€134,984 | +3.9% |
| Equity | 10/15 | €644,280 | €206,083 | -€438,197 | -68.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €623,875 | €185,678 | -€438,197 | -70.2% |
| Amounts payable | 17/49 | €2,805,729 | €3,378,909 | +€573,180 | +20.4% |
| Amounts payable after more than one year | 17 | €2,486,861 | €2,883,780 | +€396,918 | +16.0% |
| Financial debts | 170/4 | €2,481,147 | €2,878,066 | +€396,918 | +16.0% |
| Other amounts payable | 178/9 | €5,714 | €5,714 | = | 0.0% |
| Amounts payable within one year | 42/48 | €318,867 | €495,129 | +€176,262 | +55.3% |
| Current portion of amounts payable after more than one year | 42 | €130,565 | €153,581 | +€23,017 | +17.6% |
| Trade debts | 44 | €82,639 | €122,311 | +€39,672 | +48.0% |
| Suppliers | 440/4 | €82,639 | €122,311 | +€39,672 | +48.0% |
| Advances received on contracts in progress | 46 | €7,500 | €0 | -€7,500 | -100.0% |
| Taxes, remuneration and social security | 45 | €19,267 | €11,727 | -€7,540 | -39.1% |
| Taxes | 450/3 | €19,267 | €11,727 | -€7,540 | -39.1% |
| Other amounts payable | 47/48 | €78,897 | €207,510 | +€128,613 | +163.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,305 | €146,574 | +€5,269 | +3.7% |
| Other operating charges | 640/8 | €57,956 | €33,027 | -€24,929 | -43.0% |
| Gross operating margin | 9900 | €631,672 | -€137,937 | -€769,609 | |
| Operating profit (loss) | 9901 | €432,411 | -€317,537 | -€749,949 | |
| Financial income | 75/76B | €8,445 | €12,169 | +€3,724 | +44.1% |
| Recurring financial income | 75 | €8,445 | €12,169 | +€3,724 | +44.1% |
| Financial charges | 65/66B | €238,600 | €132,244 | -€106,356 | -44.6% |
| Recurring financial charges | 65 | €238,600 | €132,244 | -€106,356 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | €202,256 | -€437,612 | -€639,868 | |
| Income taxes | 67/77 | €8,517 | €585 | -€7,932 | -93.1% |
| Profit (loss) for the period | 9904 | €193,739 | -€438,197 | -€631,936 | |
| Profit (loss) for the period to be appropriated | 9905 | €193,739 | -€438,197 | -€631,936 |
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 6 October 2026 via checked.be.