Arte: 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.
What changed
Arte
NACE 46.833, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€11.0m
2024 · €12.0m-€948,214
Equity
€28.9m
2024 · €25.0m+€3.9m
Cash
€10.8m
2024 · €12.0m-€1.2m
Balance sheet total
€49.0m
2024 · €42.3m+€6.6m
Largest movements
Assets
- Receivables within one year +€3.7m
up €3.7m (+60.3%), from €6.1m to €9.9m
of which Trade receivables: +€3.4m
- Stocks and contracts +€3.7m
up €3.7m (+27.5%), from €13.4m to €17.0m
- Cash -€1.2m
down €1.2m (-10.3%), from €12.0m to €10.8m
mainly Contributions, distributions and other (-€7.2m) and Receivables within one year (-€3.7m)
- Intangible fixed assets +€490,606
up €490,606 (+17.0%), from €2.9m to €3.4m
Equity and liabilities
- Profit (loss) carried forward +€3.9m
up €3.9m (+15.6%), from €24.7m to €28.5m
- Trade debts +€2.8m
up €2.8m (+48.0%), from €5.7m to €8.5m
- Other debts -€2.0m
down €2.0m (-22.1%), from €9.2m to €7.2m
- Debts after one year +€1.8m
up €1.8m (+234.9%), from €767,096 to €2.6m
of which Other amounts payable: +€2.1m
Income statement
- Turnover +€7.1m
up €7.1m (+10.9%), from €64.9m to €71.9m
- Goods and materials +€4.0m
up €4.0m (+15.5%), from €25.7m to €29.6m
of which Purchases: +€4.7m
- Financial income -€2.5m
down €2.5m (-57.3%), from €4.3m to €1.8m
- Staff costs +€1.0m
up €1.0m (+10.4%), from €9.6m to €10.7m
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.
Result 2024
€12.0m
Turnover
+€7.1m
Other operating income
+€365,815
Goods and materials
-€4.0m
Services and other goods
-€412,112
Staff costs
-€1.0m
Depreciation
-€300,203
Write-downs
-€171,730
Other operating charges
-€3,350
Other operating items
+€474,830
Financial income
-€2.5m
Financial charges
-€83,089
Taxes
-€449,929
Result 2025
€11.0m
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.
From operations
+€6.6m
Investment
-€2.5m
Financing
-€5.3m
Cash 2024
€12.0m
From operations (derived)
+€6.6m
Net result for the year
+€11.0m
Depreciation
+€2.1m
Stocks and contracts
-€3.7m
Receivables within one year
-€3.7m
Deferred charges and accrued income
-€84,277
Trade debts
+€2.8m
Tax, wage and social debts
+€21,257
Advances received
+€439,552
Other debts
-€2.0m
Accrued charges and deferred income
-€214,578
Investment (derived)
-€2.5m
Investment in fixed assets (net)
-€2.5m
Financing
-€5.3m
Debts after one year
+€1.8m
Current portion of long-term debt
+€12,019
Contributions, distributions and other
-€7.2m
Cash 2025
€10.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,333,494 | €48,965,697 | +€6.6m | +15.7% |
| Fixed assets | 21/28 | €10,728,109 | €11,131,467 | +€403,359 | +3.8% |
| Intangible fixed assets | 21 | €2,879,247 | €3,369,853 | +€490,606 | +17.0% |
| Tangible fixed assets | 22/27 | €4,903,292 | €4,917,187 | +€13,895 | +0.3% |
| Plant, machinery and equipment | 23 | €2,208,442 | €2,240,900 | +€32,458 | +1.5% |
| Furniture and vehicles | 24 | €882,778 | €807,780 | -€74,998 | -8.5% |
| Other tangible fixed assets | 26 | €1,812,071 | €1,868,507 | +€56,436 | +3.1% |
| Financial fixed assets | 28 | €2,945,570 | €2,844,427 | -€101,143 | -3.4% |
| Affiliated companies | 280/1 | €2,943,770 | €2,842,627 | -€101,143 | -3.4% |
| Participating interests | 280 | €2,726,863 | €2,726,863 | = | 0.0% |
| Amounts receivable | 281 | €216,908 | €115,765 | -€101,143 | -46.6% |
| Other financial fixed assets | 284/8 | €1,800 | €1,800 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €31,605,385 | €37,834,230 | +€6.2m | +19.7% |
| Stocks and contracts in progress | 3 | €13,359,146 | €17,035,646 | +€3.7m | +27.5% |
| Stocks | 30/36 | €13,359,146 | €17,035,646 | +€3.7m | +27.5% |
| Raw materials and consumables | 30/31 | €1,591,212 | €1,179,974 | -€411,237 | -25.8% |
| Work in progress | 32 | €131,064 | €130,507 | -€558 | -0.4% |
| Finished goods | 33 | €3,338,205 | €2,714,300 | -€623,905 | -18.7% |
| Goods purchased for resale | 34 | €8,298,665 | €13,010,865 | +€4.7m | +56.8% |
| Amounts receivable within one year | 40/41 | €6,144,306 | €9,851,641 | +€3.7m | +60.3% |
| Trade receivables | 40 | €5,577,362 | €8,939,879 | +€3.4m | +60.3% |
| Other amounts receivable | 41 | €566,943 | €911,762 | +€344,819 | +60.8% |
| Cash at bank and in hand | 54/58 | €11,993,243 | €10,753,974 | -€1.2m | -10.3% |
| Deferred charges and accrued income | 490/1 | €108,691 | €192,968 | +€84,277 | +77.5% |
| Total equity and liabilities | 10/49 | €42,333,494 | €48,965,697 | +€6.6m | +15.7% |
| Equity | 10/15 | €25,022,504 | €28,879,526 | +€3.9m | +15.4% |
| Contributions | 10/11 | €285,000 | €285,000 | = | 0.0% |
| Capital | 10 | €285,000 | €285,000 | = | 0.0% |
| Issued capital | 100 | €285,000 | €285,000 | = | 0.0% |
| Reserves | 13 | €61,222 | €61,222 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,500 | €28,500 | = | 0.0% |
| Legal reserve | 130 | €28,500 | €28,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,722 | €32,722 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,676,282 | €28,533,304 | +€3.9m | +15.6% |
| Amounts payable | 17/49 | €17,310,990 | €20,086,171 | +€2.8m | +16.0% |
| Amounts payable after more than one year | 17 | €767,096 | €2,568,689 | +€1.8m | +234.9% |
| Financial debts | 170/4 | €762,608 | €455,953 | -€306,655 | -40.2% |
| Credit institutions | 173 | €762,608 | €455,953 | -€306,655 | -40.2% |
| Other amounts payable | 178/9 | €4,488 | €2,112,736 | +€2.1m | +46979.3% |
| Amounts payable within one year | 42/48 | €16,151,795 | €17,339,962 | +€1.2m | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €294,636 | €306,655 | +€12,019 | +4.1% |
| Trade debts | 44 | €5,726,293 | €8,477,242 | +€2.8m | +48.0% |
| Suppliers | 440/4 | €5,726,293 | €8,477,242 | +€2.8m | +48.0% |
| Advances received on contracts in progress | 46 | - | €439,552 | +€439,552 | |
| Taxes, remuneration and social security | 45 | €938,497 | €959,754 | +€21,257 | +2.3% |
| Taxes | 450/3 | €109,458 | €70,578 | -€38,880 | -35.5% |
| Remuneration and social security | 454/9 | €829,039 | €889,176 | +€60,137 | +7.3% |
| Other amounts payable | 47/48 | €9,192,369 | €7,156,758 | -€2.0m | -22.1% |
| Accrued charges and deferred income | 492/3 | €392,099 | €177,521 | -€214,578 | -54.7% |
| Operating income | 70/76A | €68,215,551 | €76,101,267 | +€7.9m | +11.6% |
| Turnover | 70 | €64,876,676 | €71,932,674 | +€7.1m | +10.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€9,563 | €468,505 | +€478,068 | |
| Other operating income | 74 | €3,311,673 | €3,677,489 | +€365,815 | +11.0% |
| Non-recurring operating income | 76A | €36,766 | €22,599 | -€14,167 | -38.5% |
| Operating charges | 60/66A | €57,067,669 | €62,914,244 | +€5.8m | +10.2% |
| Goods for resale, raw materials and consumables | 60 | €25,654,360 | €29,620,747 | +€4.0m | +15.5% |
| Purchases | 600/8 | €27,410,272 | €32,086,600 | +€4.7m | +17.1% |
| Change in stocks: decrease (increase) | 609 | -€1,755,912 | -€2,465,853 | -€709,941 | -40.4% |
| Services and other goods | 61 | €20,702,529 | €21,114,641 | +€412,112 | +2.0% |
| Remuneration, social security and pensions | 62 | €9,647,778 | €10,651,500 | +€1.0m | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,840,057 | €2,140,260 | +€300,203 | +16.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€918,123 | -€746,393 | +€171,730 | +18.7% |
| Other operating charges | 640/8 | €130,140 | €133,490 | +€3,350 | +2.6% |
| Non-recurring operating charges | 66A | €10,930 | - | -€10,930 | |
| Operating profit (loss) | 9901 | €11,147,882 | €13,187,023 | +€2.0m | +18.3% |
| Financial income | 75/76B | €4,286,369 | €1,832,032 | -€2.5m | -57.3% |
| Recurring financial income | 75 | €4,286,369 | €1,832,032 | -€2.5m | -57.3% |
| Income from financial fixed assets | 750 | €3,764,467 | €1,553,242 | -€2.2m | -58.7% |
| Income from current assets | 751 | - | €27 | +€27 | |
| Other financial income | 752/9 | €521,902 | €278,763 | -€243,139 | -46.6% |
| Financial charges | 65/66B | €606,902 | €689,991 | +€83,089 | +13.7% |
| Recurring financial charges | 65 | €606,902 | €689,991 | +€83,089 | +13.7% |
| Debt charges | 650 | €105,036 | €123,064 | +€18,028 | +17.2% |
| Other financial charges | 652/9 | €501,866 | €566,927 | +€65,061 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €14,827,349 | €14,329,064 | -€498,285 | -3.4% |
| Income taxes | 67/77 | €2,865,354 | €3,315,284 | +€449,929 | +15.7% |
| Taxes | 670/3 | €2,865,360 | €3,315,284 | +€449,923 | +15.7% |
| Tax adjustments and reversals of tax provisions | 77 | €6 | - | -€6 | |
| Profit (loss) for the period | 9904 | €11,961,995 | €11,013,780 | -€948,214 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,961,995 | €11,013,780 | -€948,214 | -7.9% |
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 7 October 2026 via checked.be.