ARTE-FACT: 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-FACT
Largest movements
- Receivables within one year -€138,602
no longer reported in 2025 (was €138,602)
of which Trade receivables: -€127,123
- Current investments -€46,582
no longer reported in 2025 (was €46,582)
- Stocks and contracts -€42,563
down €42,563 (-21.0%), from €202,887 to €160,324
of which Stocks: -€50,277
- Cash +€21,546
up €21,546 (+20.4%), from €105,810 to €127,356
mainly Receivables within one year (+€138,602) and Current investments (+€46,582)
- Tangible fixed assets -€9,175
down €9,175 (-35.5%), from €25,871 to €16,696
- Trade debts -€140,363
down €140,363 (-89.4%), from €157,019 to €16,656
- Other debts -€48,960
down €48,960 (-44.3%), from €110,568 to €61,608
- Advances received -€21,822
down €21,822 (-61.0%), from €35,762 to €13,940
- Accrued charges and deferred income -€11,441
no longer reported in 2025 (was €11,441)
- Gross operating margin -€85,124
down €85,124 (-86.4%), from €98,519 to €13,394
- Taxes -€14,642
down €14,642 (-85.2%), from €17,186 to €2,544
- Financial charges -€13,095
down €13,095 (-96.5%), from €13,569 to €474
- Financial income -€3,561
down €3,561 (-64.4%), from €5,528 to €1,967
- Depreciation +€2,990
up €2,990 (+103%), from €2,910 to €5,900
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 | €519,753 | €304,376 | -€215,377 | -41.4% |
| Fixed assets | 21/28 | €25,871 | €16,696 | -€9,175 | -35.5% |
| Tangible fixed assets | 22/27 | €25,871 | €16,696 | -€9,175 | -35.5% |
| Furniture and vehicles | 24 | €25,871 | €16,696 | -€9,175 | -35.5% |
| Current assets | 29/58 | €493,882 | €287,680 | -€206,202 | -41.8% |
| Stocks and contracts in progress | 3 | €202,887 | €160,324 | -€42,563 | -21.0% |
| Stocks | 30/36 | €202,887 | €152,610 | -€50,277 | -24.8% |
| Contracts in progress | 37 | - | €7,714 | +€7,714 | |
| Amounts receivable within one year | 40/41 | €138,602 | - | -€138,602 | |
| Trade receivables | 40 | €127,123 | - | -€127,123 | |
| Other amounts receivable | 41 | €11,479 | - | -€11,479 | |
| Current investments | 50/53 | €46,582 | - | -€46,582 | |
| Cash at bank and in hand | 54/58 | €105,810 | €127,356 | +€21,546 | +20.4% |
| Total equity and liabilities | 10/49 | €519,753 | €304,376 | -€215,377 | -41.4% |
| Equity | 10/15 | €196,512 | €201,150 | +€4,638 | +2.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €191,512 | €196,150 | +€4,638 | +2.4% |
| Distributable reserves | 133 | €191,512 | €196,150 | +€4,638 | +2.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €323,241 | €103,226 | -€220,015 | -68.1% |
| Amounts payable within one year | 42/48 | €311,800 | €103,226 | -€208,574 | -66.9% |
| Trade debts | 44 | €157,019 | €16,656 | -€140,363 | -89.4% |
| Suppliers | 440/4 | €157,019 | €16,656 | -€140,363 | -89.4% |
| Advances received on contracts in progress | 46 | €35,762 | €13,940 | -€21,822 | -61.0% |
| Taxes, remuneration and social security | 45 | €8,451 | €11,022 | +€2,571 | +30.4% |
| Taxes | 450/3 | €8,451 | €11,022 | +€2,571 | +30.4% |
| Other amounts payable | 47/48 | €110,568 | €61,608 | -€48,960 | -44.3% |
| Accrued charges and deferred income | 492/3 | €11,441 | - | -€11,441 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,910 | €5,900 | +€2,990 | +103% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €325 | - | -€325 | |
| Other operating charges | 640/8 | €695 | €1,806 | +€1,111 | +160% |
| Gross operating margin | 9900 | €98,519 | €13,394 | -€85,124 | -86.4% |
| Operating profit (loss) | 9901 | €94,589 | €5,689 | -€88,901 | -94.0% |
| Financial income | 75/76B | €5,528 | €1,967 | -€3,561 | -64.4% |
| Recurring financial income | 75 | €5,528 | €1,967 | -€3,561 | -64.4% |
| Financial charges | 65/66B | €13,569 | €474 | -€13,095 | -96.5% |
| Recurring financial charges | 65 | €13,569 | €474 | -€13,095 | -96.5% |
| Profit (loss) for the period before taxes | 9903 | €86,548 | €7,182 | -€79,366 | -91.7% |
| Income taxes | 67/77 | €17,186 | €2,544 | -€14,642 | -85.2% |
| Profit (loss) for the period | 9904 | €69,362 | €4,638 | -€64,724 | -93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,362 | €4,638 | -€64,724 | -93.3% |
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 29 October 2026 via checked.be.