ARTE: 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.
ARTE
Largest movements
- Receivables within one year -€63,985
down €63,985 (-28.9%), from €221,232 to €157,247
of which Trade receivables: -€109,395
- Tangible fixed assets -€30,855
down €30,855 (-34.1%), from €90,544 to €59,689
of which Other tangible fixed assets: -€41,657
- Stocks and contracts +€17,373
up €17,373 (+13.0%), from €133,471 to €150,845
- Deferred charges and accrued income +€9,187
up €9,187 (+333.1%), from €2,758 to €11,944
- Cash +€8,912
up €8,912 (+7.1%), from €124,736 to €133,648
mainly Other debts (+€170,531) and Receivables within one year (+€63,985)
- Reserves -€170,531
down €170,531 (-57.9%), from €294,274 to €123,743
of which Distributable reserves: -€170,531
- Other debts +€170,531
new in 2025: €170,531
- Trade debts -€86,921
down €86,921 (-41.9%), from €207,366 to €120,445
- Profit (loss) carried forward +€25,155
up €25,155 (+54.5%), from -€46,174 to -€21,019
- Staff costs +€42,636
up €42,636 (+5.2%), from €820,920 to €863,557
- Gross operating margin +€16,880
up €16,880 (+1.8%), from €954,839 to €971,719
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 | €586,660 | €526,830 | -€59,830 | -10.2% |
| Fixed assets | 21/28 | €104,462 | €73,145 | -€31,317 | -30.0% |
| Intangible fixed assets | 21 | €462 | €0 | -€462 | -100.0% |
| Tangible fixed assets | 22/27 | €90,544 | €59,689 | -€30,855 | -34.1% |
| Plant, machinery and equipment | 23 | €46,977 | €54,578 | +€7,601 | +16.2% |
| Furniture and vehicles | 24 | - | €3,200 | +€3,200 | |
| Other tangible fixed assets | 26 | €43,567 | €1,910 | -€41,657 | -95.6% |
| Financial fixed assets | 28 | €13,457 | €13,457 | = | 0.0% |
| Current assets | 29/58 | €482,197 | €453,684 | -€28,513 | -5.9% |
| Stocks and contracts in progress | 3 | €133,471 | €150,845 | +€17,373 | +13.0% |
| Stocks | 30/36 | €133,471 | €150,845 | +€17,373 | +13.0% |
| Amounts receivable within one year | 40/41 | €221,232 | €157,247 | -€63,985 | -28.9% |
| Trade receivables | 40 | €144,110 | €34,715 | -€109,395 | -75.9% |
| Other amounts receivable | 41 | €77,122 | €122,531 | +€45,410 | +58.9% |
| Cash at bank and in hand | 54/58 | €124,736 | €133,648 | +€8,912 | +7.1% |
| Deferred charges and accrued income | 490/1 | €2,758 | €11,944 | +€9,187 | +333.1% |
| Total equity and liabilities | 10/49 | €586,660 | €526,830 | -€59,830 | -10.2% |
| Equity | 10/15 | €266,692 | €121,315 | -€145,377 | -54.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €294,274 | €123,743 | -€170,531 | -57.9% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €275,524 | €104,993 | -€170,531 | -61.9% |
| Profit (loss) carried forward | 14 | -€46,174 | -€21,019 | +€25,155 | +54.5% |
| Amounts payable | 17/49 | €319,968 | €405,514 | +€85,546 | +26.7% |
| Amounts payable within one year | 42/48 | €319,968 | €405,514 | +€85,546 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €207,366 | €120,445 | -€86,921 | -41.9% |
| Suppliers | 440/4 | €207,366 | €120,445 | -€86,921 | -41.9% |
| Taxes, remuneration and social security | 45 | €112,602 | €114,538 | +€1,936 | +1.7% |
| Taxes | 450/3 | €33,032 | €32,706 | -€327 | -1.0% |
| Remuneration and social security | 454/9 | €79,569 | €81,832 | +€2,263 | +2.8% |
| Other amounts payable | 47/48 | - | €170,531 | +€170,531 | |
| Remuneration, social security and pensions | 62 | €820,920 | €863,557 | +€42,636 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,639 | €50,072 | +€433 | +0.9% |
| Other operating charges | 640/8 | €1,123 | €5,283 | +€4,160 | +370.3% |
| Gross operating margin | 9900 | €954,839 | €971,719 | +€16,880 | +1.8% |
| Operating profit (loss) | 9901 | €83,157 | €52,808 | -€30,349 | -36.5% |
| Financial income | 75/76B | €77 | €5,410 | +€5,333 | +6948.4% |
| Recurring financial income | 75 | €77 | €5,410 | +€5,333 | +6948.4% |
| Financial charges | 65/66B | €34,358 | €31,395 | -€2,963 | -8.6% |
| Recurring financial charges | 65 | €34,358 | €31,395 | -€2,963 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €48,876 | €26,823 | -€22,053 | -45.1% |
| Income taxes | 67/77 | €6,847 | €1,668 | -€5,179 | -75.6% |
| Profit (loss) for the period | 9904 | €42,029 | €25,155 | -€16,874 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,029 | €25,155 | -€16,874 | -40.1% |
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 9 October 2026 via checked.be.