ARTDELIS: 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.
ARTDELIS
Largest movements
- Tangible fixed assets +€694,468
up €694,468 (+55.5%), from €1.3m to €1.9m
of which Land and buildings: +€694,889
- Cash -€226,374
down €226,374 (-97.8%), from €231,576 to €5,202
mainly Investment in fixed assets (net) (-€770,357) and Tax, wage and social debts (-€32,603)
- Receivables within one year -€36,440
down €36,440 (-51.7%), from €70,520 to €34,080
of which Trade receivables: -€44,000
- Debts after one year +€356,903
up €356,903 (+48.3%), from €738,590 to €1.1m
of which Financial debts: +€352,853
- Other debts +€112,330
up €112,330 (+25.2%), from €445,858 to €558,187
- Tax, wage and social debts -€32,603
no longer reported in 2025 (was €32,603)
- Profit (loss) carried forward -€27,624
down €27,624 (-15.6%), from €176,872 to €149,248
- Gross operating margin -€258,499
down €258,499 (-72.6%), from €356,068 to €97,568
- Taxes -€32,603
no longer reported in 2025 (was €32,603)
- Depreciation +€19,052
up €19,052 (+33.5%), from €56,837 to €75,889
- Financial charges +€10,856
up €10,856 (+48.2%), from €22,526 to €33,383
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 | €1,555,801 | €1,986,095 | +€430,294 | +27.7% |
| Fixed assets | 21/28 | €1,251,908 | €1,946,376 | +€694,468 | +55.5% |
| Tangible fixed assets | 22/27 | €1,251,908 | €1,946,376 | +€694,468 | +55.5% |
| Land and buildings | 22 | €1,251,487 | €1,946,376 | +€694,889 | +55.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €421 | - | -€421 | |
| Current assets | 29/58 | €303,893 | €39,719 | -€264,174 | -86.9% |
| Amounts receivable within one year | 40/41 | €70,520 | €34,080 | -€36,440 | -51.7% |
| Trade receivables | 40 | €68,000 | €24,000 | -€44,000 | -64.7% |
| Other amounts receivable | 41 | €2,520 | €10,080 | +€7,560 | +300% |
| Cash at bank and in hand | 54/58 | €231,576 | €5,202 | -€226,374 | -97.8% |
| Deferred charges and accrued income | 490/1 | €1,797 | €437 | -€1,360 | -75.7% |
| Total equity and liabilities | 10/49 | €1,555,801 | €1,986,095 | +€430,294 | +27.7% |
| Equity | 10/15 | €305,872 | €278,248 | -€27,624 | -9.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €29,000 | €29,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,000 | €29,000 | = | 0.0% |
| Legal reserve | 130 | €29,000 | €29,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,872 | €149,248 | -€27,624 | -15.6% |
| Amounts payable | 17/49 | €1,249,929 | €1,707,847 | +€457,918 | +36.6% |
| Amounts payable after more than one year | 17 | €738,590 | €1,095,493 | +€356,903 | +48.3% |
| Financial debts | 170/4 | €717,840 | €1,070,693 | +€352,853 | +49.2% |
| Other amounts payable | 178/9 | €20,750 | €24,800 | +€4,050 | +19.5% |
| Amounts payable within one year | 42/48 | €511,339 | €612,354 | +€101,015 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €31,330 | €47,147 | +€15,817 | +50.5% |
| Trade debts | 44 | €1,548 | €7,020 | +€5,472 | +353% |
| Suppliers | 440/4 | €1,548 | €7,020 | +€5,472 | +353% |
| Taxes, remuneration and social security | 45 | €32,603 | - | -€32,603 | |
| Taxes | 450/3 | €32,603 | - | -€32,603 | |
| Other amounts payable | 47/48 | €445,858 | €558,187 | +€112,330 | +25.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,837 | €75,889 | +€19,052 | +33.5% |
| Other operating charges | 640/8 | €14,796 | €15,935 | +€1,138 | +7.7% |
| Gross operating margin | 9900 | €356,068 | €97,568 | -€258,499 | -72.6% |
| Operating profit (loss) | 9901 | €284,434 | €5,744 | -€278,690 | -98.0% |
| Financial income | 75/76B | €172 | €14 | -€158 | -91.8% |
| Recurring financial income | 75 | €172 | €14 | -€158 | -91.8% |
| Financial charges | 65/66B | €22,526 | €33,383 | +€10,856 | +48.2% |
| Recurring financial charges | 65 | €22,526 | €33,383 | +€10,856 | +48.2% |
| Profit (loss) for the period before taxes | 9903 | €262,080 | -€27,624 | -€289,704 | |
| Income taxes | 67/77 | €32,603 | - | -€32,603 | |
| Profit (loss) for the period | 9904 | €229,477 | -€27,624 | -€257,101 | |
| Profit (loss) for the period to be appropriated | 9905 | €229,477 | -€27,624 | -€257,101 |
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 14 October 2026 via checked.be.