ArtCrush: 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.
ArtCrush
Largest movements
- Receivables within one year -€29,084
down €29,084 (-73.9%), from €39,370 to €10,286
of which Trade receivables: -€28,927
- Tangible fixed assets -€26,604
down €26,604 (-26.7%), from €99,773 to €73,169
of which Other tangible fixed assets: -€26,823
- Cash -€7,340
down €7,340 (-32.0%), from €22,918 to €15,577
mainly Net result for the year (-€229,004) and Accrued charges and deferred income (-€19,844)
- Intangible fixed assets -€5,646
down €5,646 (-30.1%), from €18,772 to €13,126
- Deferred charges and accrued income +€2,300
up €2,300, from €0 to €2,300
- Profit (loss) carried forward -€229,004
down €229,004 (-56.5%), from -€405,483 to -€634,486
- Other debts +€152,081
up €152,081 (+40036.2%), from €380 to €152,461
- Trade debts +€21,540
up €21,540 (+903.1%), from €2,385 to €23,925
- Accrued charges and deferred income -€19,844
down €19,844 (-90.0%), from €22,050 to €2,206
- Tax, wage and social debts +€8,852
new in 2025: €8,852
- Gross operating margin +€74,505
up €74,505 (+26.9%), from -€277,054 to -€202,550
- Staff costs -€4,649
down €4,649 (-30.7%), from €15,164 to €10,515
- Other operating charges +€4,438
up €4,438 (+221.7%), from €2,002 to €6,440
- Financial income -€3,515
down €3,515 (-99.6%), from €3,528 to €13
- Financial charges +€2,988
up €2,988 (+356.6%), from €838 to €3,826
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 | €180,832 | €114,458 | -€66,374 | -36.7% |
| Fixed assets | 21/28 | €118,545 | €86,295 | -€32,250 | -27.2% |
| Intangible fixed assets | 21 | €18,772 | €13,126 | -€5,646 | -30.1% |
| Tangible fixed assets | 22/27 | €99,773 | €73,169 | -€26,604 | -26.7% |
| Furniture and vehicles | 24 | - | €219 | +€219 | |
| Other tangible fixed assets | 26 | €99,773 | €72,950 | -€26,823 | -26.9% |
| Current assets | 29/58 | €62,287 | €28,163 | -€34,124 | -54.8% |
| Amounts receivable within one year | 40/41 | €39,370 | €10,286 | -€29,084 | -73.9% |
| Trade receivables | 40 | €38,384 | €9,457 | -€28,927 | -75.4% |
| Other amounts receivable | 41 | €986 | €829 | -€157 | -15.9% |
| Cash at bank and in hand | 54/58 | €22,918 | €15,577 | -€7,340 | -32.0% |
| Deferred charges and accrued income | 490/1 | €0 | €2,300 | +€2,300 | |
| Total equity and liabilities | 10/49 | €180,832 | €114,458 | -€66,374 | -36.7% |
| Equity | 10/15 | €156,017 | -€72,986 | -€229,004 | |
| Contributions | 10/11 | €561,500 | €561,500 | = | 0.0% |
| Capital | 10 | €561,500 | €561,500 | = | 0.0% |
| Issued capital | 100 | €561,500 | €561,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€405,483 | -€634,486 | -€229,004 | -56.5% |
| Amounts payable | 17/49 | €24,815 | €187,444 | +€162,629 | +655.4% |
| Amounts payable within one year | 42/48 | €2,765 | €185,238 | +€182,473 | +6599.7% |
| Trade debts | 44 | €2,385 | €23,925 | +€21,540 | +903.1% |
| Suppliers | 440/4 | €2,385 | €23,925 | +€21,540 | +903.1% |
| Taxes, remuneration and social security | 45 | - | €8,852 | +€8,852 | |
| Taxes | 450/3 | - | €8,852 | +€8,852 | |
| Other amounts payable | 47/48 | €380 | €152,461 | +€152,081 | +40036.2% |
| Accrued charges and deferred income | 492/3 | €22,050 | €2,206 | -€19,844 | -90.0% |
| Remuneration, social security and pensions | 62 | €15,164 | €10,515 | -€4,649 | -30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,993 | €5,686 | +€693 | +13.9% |
| Other operating charges | 640/8 | €2,002 | €6,440 | +€4,438 | +221.7% |
| Gross operating margin | 9900 | -€277,054 | -€202,550 | +€74,505 | +26.9% |
| Operating profit (loss) | 9901 | -€299,214 | -€225,191 | +€74,023 | +24.7% |
| Financial income | 75/76B | €3,528 | €13 | -€3,515 | -99.6% |
| Recurring financial income | 75 | €3,528 | €13 | -€3,515 | -99.6% |
| Financial charges | 65/66B | €838 | €3,826 | +€2,988 | +356.6% |
| Recurring financial charges | 65 | €838 | €3,826 | +€2,988 | +356.6% |
| Profit (loss) for the period before taxes | 9903 | -€296,523 | -€229,004 | +€67,520 | +22.8% |
| Profit (loss) for the period | 9904 | -€296,523 | -€229,004 | +€67,520 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€296,523 | -€229,004 | +€67,520 | +22.8% |
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 28 September 2026 via checked.be.