ARTEBO: what changed
Two fiscal 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.
ARTEBO
Largest movements
- Receivables within one year +€527,813
up €527,813 (+188.9%), from €279,397 to €807,210
of which Trade receivables: +€510,902
- Tangible fixed assets +€187,366
up €187,366 (+345.6%), from €54,217 to €241,584
of which Furniture and vehicles: +€152,000
- Stocks and contracts -€109,611
no longer reported in 2025 (was €109,611)
- Cash -€44,577
down €44,577 (-100.0%), from €44,582 to €5
mainly Receivables within one year (-€527,813) and Investment in fixed assets (net) (-€219,291)
- Trade debts +€159,192
up €159,192 (+45.7%), from €348,176 to €507,368
- Debts after one year +€153,016
up €153,016 (+480.8%), from €31,824 to €184,840
- Other debts +€109,675
new in 2025: €109,675
- Reserves +€108,710
up €108,710 (+257.6%), from €42,196 to €150,906
- Current portion of long-term debt +€43,190
up €43,190 (+342.7%), from €12,602 to €55,792
- Gross operating margin +€179,528
up €179,528 (+198.1%), from €90,641 to €270,168
- Depreciation +€25,904
up €25,904 (+430.2%), from €6,021 to €31,924
- Taxes +€24,582
up €24,582 (+368.8%), from €6,665 to €31,247
- Financial charges +€11,915
up €11,915 (+103.2%), from €11,542 to €23,458
- Financial income -€3,375
down €3,375 (-98.9%), from €3,414 to €39
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 | €493,609 | €1,054,599 | +€560,991 | +113.7% |
| Fixed assets | 21/28 | €60,017 | €247,384 | +€187,366 | +312.2% |
| Tangible fixed assets | 22/27 | €54,217 | €241,584 | +€187,366 | +345.6% |
| Plant, machinery and equipment | 23 | €25,254 | €63,121 | +€37,867 | +149.9% |
| Furniture and vehicles | 24 | €6,367 | €158,367 | +€152,000 | +2387.2% |
| Other tangible fixed assets | 26 | €22,596 | €20,095 | -€2,500 | -11.1% |
| Financial fixed assets | 28 | €5,800 | €5,800 | = | 0.0% |
| Current assets | 29/58 | €433,591 | €807,215 | +€373,624 | +86.2% |
| Stocks and contracts in progress | 3 | €109,611 | - | -€109,611 | |
| Contracts in progress | 37 | €109,611 | - | -€109,611 | |
| Amounts receivable within one year | 40/41 | €279,397 | €807,210 | +€527,813 | +188.9% |
| Trade receivables | 40 | €222,420 | €733,322 | +€510,902 | +229.7% |
| Other amounts receivable | 41 | €56,978 | €73,889 | +€16,911 | +29.7% |
| Cash at bank and in hand | 54/58 | €44,582 | €5 | -€44,577 | -100.0% |
| Total equity and liabilities | 10/49 | €493,609 | €1,054,599 | +€560,991 | +113.7% |
| Equity | 10/15 | €90,165 | €163,306 | +€73,141 | +81.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €42,196 | €150,906 | +€108,710 | +257.6% |
| Distributable reserves | 133 | €42,196 | €150,906 | +€108,710 | +257.6% |
| Profit (loss) carried forward | 14 | €35,568 | - | -€35,568 | |
| Amounts payable | 17/49 | €403,444 | €891,293 | +€487,849 | +120.9% |
| Amounts payable after more than one year | 17 | €31,824 | €184,840 | +€153,016 | +480.8% |
| Financial debts | 170/4 | €31,824 | €184,840 | +€153,016 | +480.8% |
| Amounts payable within one year | 42/48 | €371,005 | €706,453 | +€335,448 | +90.4% |
| Current portion of amounts payable after more than one year | 42 | €12,602 | €55,792 | +€43,190 | +342.7% |
| Financial debts | 43 | - | €2,371 | +€2,371 | |
| Credit institutions | 430/8 | - | €2,371 | +€2,371 | |
| Trade debts | 44 | €348,176 | €507,368 | +€159,192 | +45.7% |
| Suppliers | 440/4 | €348,176 | €507,368 | +€159,192 | +45.7% |
| Taxes, remuneration and social security | 45 | €10,227 | €31,247 | +€21,020 | +205.5% |
| Taxes | 450/3 | €10,227 | €31,247 | +€21,020 | +205.5% |
| Other amounts payable | 47/48 | - | €109,675 | +€109,675 | |
| Accrued charges and deferred income | 492/3 | €615 | - | -€615 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,021 | €31,924 | +€25,904 | +430.2% |
| Other operating charges | 640/8 | €1,121 | €3,878 | +€2,757 | +245.9% |
| Non-recurring operating charges | 66A | - | €6,559 | +€6,559 | |
| Gross operating margin | 9900 | €90,641 | €270,168 | +€179,528 | +198.1% |
| Operating profit (loss) | 9901 | €83,499 | €227,806 | +€144,308 | +172.8% |
| Financial income | 75/76B | €3,414 | €39 | -€3,375 | -98.9% |
| Recurring financial income | 75 | €3,414 | €39 | -€3,375 | -98.9% |
| Financial charges | 65/66B | €11,542 | €23,458 | +€11,915 | +103.2% |
| Recurring financial charges | 65 | €11,542 | €23,458 | +€11,915 | +103.2% |
| Profit (loss) for the period before taxes | 9903 | €75,371 | €204,388 | +€129,017 | +171.2% |
| Income taxes | 67/77 | €6,665 | €31,247 | +€24,582 | +368.8% |
| Profit (loss) for the period | 9904 | €68,706 | €173,141 | +€104,436 | +152.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,706 | €173,141 | +€104,436 | +152.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.