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
- Tangible fixed assets +€70,311
up €70,311 (+29.3%), from €239,658 to €309,969
of which Leasing and similar rights: +€113,771
- Receivables within one year +€14,552
up €14,552 (+11.2%), from €129,831 to €144,383
of which Trade receivables: +€14,552
- Deferred charges and accrued income -€9,350
down €9,350 (-54.0%), from €17,330 to €7,980
- Debts after one year +€76,620
up €76,620 (+174%), from €43,920 to €120,540
- Tax, wage and social debts -€25,948
down €25,948 (-53.8%), from €48,231 to €22,283
of which Taxes: -€18,038
- Current portion of long-term debt +€21,650
up €21,650 (+40.7%), from €53,209 to €74,859
- Reserves +€17,364
up €17,364 (+20.4%), from €85,212 to €102,576
of which Distributable reserves: +€17,947
- Short-term financial debts -€10,958
down €10,958 (-29.3%), from €37,455 to €26,496
- Gross operating margin -€20,765
down €20,765 (-5.3%), from €394,934 to €374,169
- Other operating charges -€5,556
down €5,556 (-18.9%), from €29,411 to €23,855
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 | €393,405 | €468,942 | +€75,537 | +19.2% |
| Fixed assets | 21/28 | €240,768 | €311,079 | +€70,311 | +29.2% |
| Tangible fixed assets | 22/27 | €239,658 | €309,969 | +€70,311 | +29.3% |
| Plant, machinery and equipment | 23 | €7,539 | €5,164 | -€2,374 | -31.5% |
| Furniture and vehicles | 24 | €93,977 | €51,234 | -€42,743 | -45.5% |
| Leasing and similar rights | 25 | €138,143 | €251,914 | +€113,771 | +82.4% |
| Other tangible fixed assets | 26 | - | €1,657 | +€1,657 | |
| Financial fixed assets | 28 | €1,110 | €1,110 | = | 0.0% |
| Current assets | 29/58 | €152,637 | €157,862 | +€5,225 | +3.4% |
| Amounts receivable within one year | 40/41 | €129,831 | €144,383 | +€14,552 | +11.2% |
| Trade receivables | 40 | €129,831 | €144,383 | +€14,552 | +11.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €5,476 | €5,499 | +€23 | +0.4% |
| Deferred charges and accrued income | 490/1 | €17,330 | €7,980 | -€9,350 | -54.0% |
| Total equity and liabilities | 10/49 | €393,405 | €468,942 | +€75,537 | +19.2% |
| Equity | 10/15 | €103,804 | €121,168 | +€17,364 | +16.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €85,212 | €102,576 | +€17,364 | +20.4% |
| Tax-exempt reserves | 132 | €39,269 | €38,686 | -€583 | -1.5% |
| Distributable reserves | 133 | €45,943 | €63,890 | +€17,947 | +39.1% |
| Provisions and deferred taxes | 16 | €7,000 | €6,854 | -€146 | -2.1% |
| Deferred taxes | 168 | €7,000 | €6,854 | -€146 | -2.1% |
| Amounts payable | 17/49 | €282,601 | €340,920 | +€58,319 | +20.6% |
| Amounts payable after more than one year | 17 | €43,920 | €120,540 | +€76,620 | +174% |
| Financial debts | 170/4 | €43,920 | €120,540 | +€76,620 | +174% |
| Amounts payable within one year | 42/48 | €238,681 | €220,380 | -€18,301 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €53,209 | €74,859 | +€21,650 | +40.7% |
| Financial debts | 43 | €37,455 | €26,496 | -€10,958 | -29.3% |
| Credit institutions | 430/8 | €37,455 | €26,496 | -€10,958 | -29.3% |
| Trade debts | 44 | €57,889 | €62,210 | +€4,321 | +7.5% |
| Suppliers | 440/4 | €57,889 | €62,210 | +€4,321 | +7.5% |
| Taxes, remuneration and social security | 45 | €48,231 | €22,283 | -€25,948 | -53.8% |
| Taxes | 450/3 | €31,008 | €12,970 | -€18,038 | -58.2% |
| Remuneration and social security | 454/9 | €17,223 | €9,313 | -€7,909 | -45.9% |
| Other amounts payable | 47/48 | €41,898 | €34,532 | -€7,366 | -17.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €216,027 | €218,065 | +€2,037 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,263 | €99,740 | +€1,478 | +1.5% |
| Other operating charges | 640/8 | €29,411 | €23,855 | -€5,556 | -18.9% |
| Gross operating margin | 9900 | €394,934 | €374,169 | -€20,765 | -5.3% |
| Operating profit (loss) | 9901 | €51,233 | €32,509 | -€18,724 | -36.5% |
| Financial income | 75/76B | €144 | €23 | -€121 | -83.9% |
| Recurring financial income | 75 | €144 | €23 | -€121 | -83.9% |
| Financial charges | 65/66B | €12,785 | €10,983 | -€1,802 | -14.1% |
| Recurring financial charges | 65 | €12,785 | €10,983 | -€1,802 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €38,593 | €21,550 | -€17,043 | -44.2% |
| Transfer from deferred taxes | 780 | - | €146 | +€146 | |
| Transfer to deferred taxes | 680 | €7,000 | €0 | -€7,000 | -100% |
| Income taxes | 67/77 | €907 | €4,332 | +€3,425 | +378% |
| Profit (loss) for the period | 9904 | €30,686 | €17,364 | -€13,322 | -43.4% |
| Transfer from tax-exempt reserves | 789 | - | €583 | +€583 | |
| Transfer to tax-exempt reserves | 689 | €28,000 | €0 | -€28,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €2,686 | €17,947 | +€15,261 | +568% |
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 27 October 2026 via checked.be.