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
- Deferred charges and accrued income -€16,683
down €16,683 (-94.4%), from €17,664 to €981
- Tangible fixed assets -€14,033
down €14,033 (-9.9%), from €141,469 to €127,435
of which Land and buildings: -€13,146
- Other debts -€14,344
down €14,344 (-9.1%), from €157,496 to €143,152
- Reserves +€13,323
up €13,323 (+11.5%), from €116,220 to €129,542
of which Distributable reserves: +€13,323
- Debts after one year -€11,547
down €11,547 (-100%), from €11,547 to €0
- Trade debts -€11,244
down €11,244 (-77.3%), from €14,552 to €3,309
- Current portion of long-term debt -€8,205
down €8,205 (-42.6%), from €19,257 to €11,051
- Gross operating margin -€34,740
down €34,740 (-37.6%), from €92,377 to €57,636
- Taxes -€9,473
down €9,473 (-56.8%), from €16,691 to €7,218
- Financial charges +€3,968
up €3,968 (+50.3%), from €7,889 to €11,857
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 | €357,530 | €325,662 | -€31,869 | -8.9% |
| Fixed assets | 21/28 | €142,078 | €128,044 | -€14,033 | -9.9% |
| Tangible fixed assets | 22/27 | €141,469 | €127,435 | -€14,033 | -9.9% |
| Land and buildings | 22 | €99,974 | €86,828 | -€13,146 | -13.1% |
| Furniture and vehicles | 24 | €7,884 | €3,863 | -€4,020 | -51.0% |
| Other tangible fixed assets | 26 | €33,611 | €36,744 | +€3,133 | +9.3% |
| Financial fixed assets | 28 | €609 | €609 | = | 0.0% |
| Current assets | 29/58 | €215,453 | €197,617 | -€17,835 | -8.3% |
| Amounts receivable within one year | 40/41 | €63,312 | €62,709 | -€603 | -1.0% |
| Trade receivables | 40 | €63,008 | €54,927 | -€8,081 | -12.8% |
| Other amounts receivable | 41 | €304 | €7,782 | +€7,479 | +2,463% |
| Cash at bank and in hand | 54/58 | €134,476 | €133,927 | -€550 | -0.4% |
| Deferred charges and accrued income | 490/1 | €17,664 | €981 | -€16,683 | -94.4% |
| Total equity and liabilities | 10/49 | €357,530 | €325,662 | -€31,869 | -8.9% |
| Equity | 10/15 | €134,820 | €148,142 | +€13,323 | +9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,220 | €129,542 | +€13,323 | +11.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €114,360 | €127,682 | +€13,323 | +11.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €222,711 | €177,519 | -€45,191 | -20.3% |
| Amounts payable after more than one year | 17 | €11,547 | €0 | -€11,547 | -100% |
| Financial debts | 170/4 | €11,547 | €0 | -€11,547 | -100% |
| Amounts payable within one year | 42/48 | €204,354 | €167,664 | -€36,690 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €19,257 | €11,051 | -€8,205 | -42.6% |
| Trade debts | 44 | €14,552 | €3,309 | -€11,244 | -77.3% |
| Suppliers | 440/4 | €14,552 | €3,309 | -€11,244 | -77.3% |
| Taxes, remuneration and social security | 45 | €13,049 | €10,152 | -€2,897 | -22.2% |
| Taxes | 450/3 | €13,049 | €10,152 | -€2,897 | -22.2% |
| Other amounts payable | 47/48 | €157,496 | €143,152 | -€14,344 | -9.1% |
| Accrued charges and deferred income | 492/3 | €6,810 | €9,855 | +€3,046 | +44.7% |
| Non-recurring operating income | 76A | - | €22,167 | +€22,167 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,222 | €22,655 | +€432 | +1.9% |
| Other operating charges | 640/8 | €1,719 | €1,712 | -€7 | -0.4% |
| Non-recurring operating charges | 66A | €0 | €13 | +€13 | |
| Gross operating margin | 9900 | €92,377 | €57,636 | -€34,740 | -37.6% |
| Operating profit (loss) | 9901 | €68,435 | €33,256 | -€35,179 | -51.4% |
| Financial income | 75/76B | €15 | €0 | -€15 | -99.5% |
| Recurring financial income | 75 | €15 | €0 | -€15 | -99.5% |
| Financial charges | 65/66B | €7,889 | €11,857 | +€3,968 | +50.3% |
| Recurring financial charges | 65 | €7,889 | €11,857 | +€3,968 | +50.3% |
| Profit (loss) for the period before taxes | 9903 | €60,561 | €21,400 | -€39,162 | -64.7% |
| Income taxes | 67/77 | €16,691 | €7,218 | -€9,473 | -56.8% |
| Profit (loss) for the period | 9904 | €43,871 | €14,182 | -€29,689 | -67.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,871 | €14,182 | -€29,689 | -67.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.