ARTCODED: 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.
ARTCODED
Largest movements
- Receivables within one year +€224,804
up €224,804 (+940.8%), from €23,894 to €248,698
of which Other amounts receivable: +€220,068
- Cash -€127,478
down €127,478 (-38.5%), from €330,789 to €203,311
mainly Receivables within one year (-€224,804) and Contributions, distributions and other (-€126,000)
- Other debts +€118,155
new in 2025: €118,155
- Reserves -€27,500
down €27,500 (-8.6%), from €319,790 to €292,290
- Tax, wage and social debts +€20,727
up €20,727 (+233.9%), from €8,861 to €29,588
of which Taxes: +€18,646
- Accrued charges and deferred income -€14,596
no longer reported in 2025 (was €14,596)
- Financial income +€5,963
new in 2025: €5,963
- Depreciation -€2,360
down €2,360 (-76.4%), from €3,090 to €730
- Taxes +€1,880
up €1,880 (+5.0%), from €37,549 to €39,428
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 | €355,935 | €453,112 | +€97,177 | +27.3% |
| Fixed assets | 21/28 | €879 | €149 | -€730 | -83.1% |
| Tangible fixed assets | 22/27 | €879 | €149 | -€730 | -83.1% |
| Furniture and vehicles | 24 | €879 | €149 | -€730 | -83.1% |
| Current assets | 29/58 | €355,056 | €452,963 | +€97,907 | +27.6% |
| Amounts receivable within one year | 40/41 | €23,894 | €248,698 | +€224,804 | +940.8% |
| Trade receivables | 40 | €23,894 | €28,630 | +€4,736 | +19.8% |
| Other amounts receivable | 41 | - | €220,068 | +€220,068 | |
| Cash at bank and in hand | 54/58 | €330,789 | €203,311 | -€127,478 | -38.5% |
| Deferred charges and accrued income | 490/1 | €374 | €955 | +€581 | +155.2% |
| Total equity and liabilities | 10/49 | €355,935 | €453,112 | +€97,177 | +27.3% |
| Equity | 10/15 | €331,653 | €304,257 | -€27,396 | -8.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €319,790 | €292,290 | -€27,500 | -8.6% |
| Distributable reserves | 133 | €319,790 | €292,290 | -€27,500 | -8.6% |
| Profit (loss) carried forward | 14 | €5,662 | €5,766 | +€104 | +1.8% |
| Amounts payable | 17/49 | €24,282 | €148,855 | +€124,573 | +513.0% |
| Amounts payable within one year | 42/48 | €9,686 | €148,855 | +€139,169 | +1436.8% |
| Trade debts | 44 | €825 | €1,112 | +€287 | +34.8% |
| Suppliers | 440/4 | €825 | €1,112 | +€287 | +34.8% |
| Taxes, remuneration and social security | 45 | €8,861 | €29,588 | +€20,727 | +233.9% |
| Taxes | 450/3 | €6,861 | €25,507 | +€18,646 | +271.8% |
| Remuneration and social security | 454/9 | €2,000 | €4,081 | +€2,081 | +104.0% |
| Other amounts payable | 47/48 | - | €118,155 | +€118,155 | |
| Accrued charges and deferred income | 492/3 | €14,596 | - | -€14,596 | |
| Remuneration, social security and pensions | 62 | - | €1,050 | +€1,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,090 | €730 | -€2,360 | -76.4% |
| Other operating charges | 640/8 | €387 | €493 | +€106 | +27.3% |
| Gross operating margin | 9900 | €134,593 | €134,524 | -€69 | -0.1% |
| Operating profit (loss) | 9901 | €131,115 | €132,250 | +€1,135 | +0.9% |
| Financial income | 75/76B | - | €5,963 | +€5,963 | |
| Recurring financial income | 75 | - | €5,963 | +€5,963 | |
| Financial charges | 65/66B | €145 | €181 | +€36 | +24.5% |
| Recurring financial charges | 65 | €145 | €181 | +€36 | +24.5% |
| Profit (loss) for the period before taxes | 9903 | €130,970 | €138,032 | +€7,062 | +5.4% |
| Income taxes | 67/77 | €37,549 | €39,428 | +€1,880 | +5.0% |
| Profit (loss) for the period | 9904 | €93,422 | €98,604 | +€5,182 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €93,422 | €98,604 | +€5,182 | +5.5% |
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 11 October 2026 via checked.be.