ARTE VERDE: 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 VERDE
Largest movements
- Receivables within one year +€18,976
up €18,976 (+51.4%), from €36,901 to €55,876
of which Other amounts receivable: +€42,578
- Cash +€17,719
up €17,719 (+1,580%), from €1,122 to €18,841
- Tangible fixed assets -€1,931
down €1,931 (-65.0%), from €2,973 to €1,042
of which Land and buildings: -€1,779
- Profit (loss) carried forward +€48,530
up €48,530 (+48.8%), from -€99,539 to -€51,009
- Other debts -€36,141
no longer reported in 2025 (was €36,141)
- Short-term financial debts +€15,196
new in 2025: €15,196
- Tax, wage and social debts +€14,245
new in 2025: €14,245
- Trade debts -€7,760
down €7,760 (-33.2%), from €23,360 to €15,600
- Gross operating margin +€54,923
up €54,923 (+713%), from €7,701 to €62,624
- Financial income +€7,028
new in 2025: €7,028
- Financial charges +€1,599
up €1,599 (+539%), from €297 to €1,895
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,689 | €75,758 | +€34,070 | +81.7% |
| Fixed assets | 21/28 | €2,973 | €1,042 | -€1,931 | -65.0% |
| Tangible fixed assets | 22/27 | €2,973 | €1,042 | -€1,931 | -65.0% |
| Land and buildings | 22 | €2,669 | €890 | -€1,779 | -66.7% |
| Furniture and vehicles | 24 | €304 | €152 | -€152 | -50.0% |
| Current assets | 29/58 | €38,716 | €74,717 | +€36,001 | +93.0% |
| Amounts receivable within one year | 40/41 | €36,901 | €55,876 | +€18,976 | +51.4% |
| Trade receivables | 40 | €36,809 | €13,206 | -€23,603 | -64.1% |
| Other amounts receivable | 41 | €92 | €42,670 | +€42,578 | +46,422% |
| Cash at bank and in hand | 54/58 | €1,122 | €18,841 | +€17,719 | +1,580% |
| Deferred charges and accrued income | 490/1 | €693 | - | -€693 | |
| Total equity and liabilities | 10/49 | €41,689 | €75,758 | +€34,070 | +81.7% |
| Equity | 10/15 | -€17,813 | €30,717 | +€48,530 | |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €1,726 | €1,726 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,726 | €1,726 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,726 | €1,726 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,539 | -€51,009 | +€48,530 | +48.8% |
| Amounts payable | 17/49 | €59,502 | €45,041 | -€14,460 | -24.3% |
| Amounts payable within one year | 42/48 | €59,502 | €45,041 | -€14,460 | -24.3% |
| Financial debts | 43 | - | €15,196 | +€15,196 | |
| Credit institutions | 430/8 | - | €15,196 | +€15,196 | |
| Trade debts | 44 | €23,360 | €15,600 | -€7,760 | -33.2% |
| Suppliers | 440/4 | €23,360 | €15,600 | -€7,760 | -33.2% |
| Taxes, remuneration and social security | 45 | - | €14,245 | +€14,245 | |
| Taxes | 450/3 | - | €14,245 | +€14,245 | |
| Other amounts payable | 47/48 | €36,141 | - | -€36,141 | |
| Non-recurring operating income | 76A | €159 | - | -€159 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €966 | €966 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €126 | +€126 | |
| Other operating charges | 640/8 | €384 | - | -€384 | |
| Gross operating margin | 9900 | €7,701 | €62,624 | +€54,923 | +713% |
| Operating profit (loss) | 9901 | €6,351 | €61,532 | +€55,182 | +869% |
| Financial income | 75/76B | - | €7,028 | +€7,028 | |
| Recurring financial income | 75 | - | €7,028 | +€7,028 | |
| Financial charges | 65/66B | €297 | €1,895 | +€1,599 | +539% |
| Recurring financial charges | 65 | €297 | €1,895 | +€1,599 | +539% |
| Profit (loss) for the period before taxes | 9903 | €6,054 | €66,665 | +€60,611 | +1,001% |
| Profit (loss) for the period | 9904 | €6,054 | €66,665 | +€60,611 | +1,001% |
| Profit (loss) for the period to be appropriated | 9905 | €6,054 | €66,665 | +€60,611 | +1,001% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.