ARTEBAT: 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.
ARTEBAT
Largest movements
- Receivables within one year -€203,081
down €203,081 (-32.8%), from €618,511 to €415,429
of which Trade receivables: -€203,081
- Tangible fixed assets -€129,330
down €129,330 (-12.0%), from €1.1m to €948,815
of which Land and buildings: -€160,393
- Stocks and contracts +€122,586
up €122,586 (+12.8%), from €954,137 to €1.1m
- Cash +€29,734
up €29,734 (+66.9%), from €44,471 to €74,205
mainly Depreciation (+€252,673) and Receivables within one year (+€203,081)
- Debts after one year -€96,888
down €96,888 (-12.7%), from €762,861 to €665,972
of which Financial debts: -€96,888
- Other debts -€85,460
down €85,460 (-51.6%), from €165,493 to €80,032
- Reserves +€85,000
up €85,000 (+18.4%), from €461,860 to €546,860
of which Distributable reserves: +€85,000
- Tax, wage and social debts -€40,512
down €40,512 (-20.3%), from €199,127 to €158,616
of which Taxes: -€50,003
- Trade debts -€39,657
down €39,657 (-6.7%), from €589,475 to €549,818
- Staff costs +€84,496
up €84,496 (+10.5%), from €803,942 to €888,438
- Depreciation +€72,878
up €72,878 (+40.5%), from €179,796 to €252,673
- Other operating charges -€58,466
down €58,466 (-82.9%), from €70,506 to €12,040
- Gross operating margin +€26,260
up €26,260 (+2.0%), from €1.3m to €1.3m
- Taxes -€20,671
down €20,671 (-38.5%), from €53,626 to €32,956
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 | €2,731,537 | €2,558,891 | -€172,646 | -6.3% |
| Fixed assets | 21/28 | €1,083,505 | €954,175 | -€129,330 | -11.9% |
| Tangible fixed assets | 22/27 | €1,078,145 | €948,815 | -€129,330 | -12.0% |
| Land and buildings | 22 | €820,121 | €659,728 | -€160,393 | -19.6% |
| Plant, machinery and equipment | 23 | €21,178 | €100,479 | +€79,301 | +374.5% |
| Furniture and vehicles | 24 | €236,846 | €188,607 | -€48,239 | -20.4% |
| Financial fixed assets | 28 | €5,360 | €5,360 | = | 0.0% |
| Current assets | 29/58 | €1,648,032 | €1,604,717 | -€43,316 | -2.6% |
| Stocks and contracts in progress | 3 | €954,137 | €1,076,722 | +€122,586 | +12.8% |
| Stocks | 30/36 | €954,137 | €1,076,722 | +€122,586 | +12.8% |
| Amounts receivable within one year | 40/41 | €618,511 | €415,429 | -€203,081 | -32.8% |
| Trade receivables | 40 | €613,511 | €410,429 | -€203,081 | -33.1% |
| Other amounts receivable | 41 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €44,471 | €74,205 | +€29,734 | +66.9% |
| Deferred charges and accrued income | 490/1 | €30,914 | €38,360 | +€7,446 | +24.1% |
| Total equity and liabilities | 10/49 | €2,731,537 | €2,558,891 | -€172,646 | -6.3% |
| Equity | 10/15 | €499,760 | €586,854 | +€87,094 | +17.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €461,860 | €546,860 | +€85,000 | +18.4% |
| 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 | €460,000 | €545,000 | +€85,000 | +18.5% |
| Profit (loss) carried forward | 14 | €19,300 | €21,394 | +€2,094 | +10.9% |
| Amounts payable | 17/49 | €2,231,777 | €1,972,037 | -€259,740 | -11.6% |
| Amounts payable after more than one year | 17 | €762,861 | €665,972 | -€96,888 | -12.7% |
| Financial debts | 170/4 | €760,011 | €663,122 | -€96,888 | -12.7% |
| Other amounts payable | 178/9 | €2,850 | €2,850 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,468,917 | €1,306,065 | -€162,852 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €114,822 | €117,598 | +€2,776 | +2.4% |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €589,475 | €549,818 | -€39,657 | -6.7% |
| Suppliers | 440/4 | €589,475 | €549,818 | -€39,657 | -6.7% |
| Taxes, remuneration and social security | 45 | €199,127 | €158,616 | -€40,512 | -20.3% |
| Taxes | 450/3 | €142,119 | €92,116 | -€50,003 | -35.2% |
| Remuneration and social security | 454/9 | €57,009 | €66,500 | +€9,491 | +16.6% |
| Other amounts payable | 47/48 | €165,493 | €80,032 | -€85,460 | -51.6% |
| Remuneration, social security and pensions | 62 | €803,942 | €888,438 | +€84,496 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €179,796 | €252,673 | +€72,878 | +40.5% |
| Other operating charges | 640/8 | €70,506 | €12,040 | -€58,466 | -82.9% |
| Gross operating margin | 9900 | €1,290,803 | €1,317,062 | +€26,260 | +2.0% |
| Operating profit (loss) | 9901 | €236,559 | €163,911 | -€72,648 | -30.7% |
| Financial income | 75/76B | €4,944 | €2,337 | -€2,607 | -52.7% |
| Recurring financial income | 75 | €4,944 | €2,337 | -€2,607 | -52.7% |
| Financial charges | 65/66B | €58,241 | €46,198 | -€12,043 | -20.7% |
| Recurring financial charges | 65 | €58,241 | €46,198 | -€12,043 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €183,262 | €120,050 | -€63,212 | -34.5% |
| Income taxes | 67/77 | €53,626 | €32,956 | -€20,671 | -38.5% |
| Profit (loss) for the period | 9904 | €129,635 | €87,094 | -€42,541 | -32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €129,635 | €87,094 | -€42,541 | -32.8% |
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.