ARTECULT: 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.
ARTECULT
Largest movements
- Cash +€77,026
up €77,026 (+777.5%), from €9,907 to €86,933
mainly Other debts (+€118,147) and Trade debts (+€104,342)
- Receivables within one year +€28,676
up €28,676 (+9.1%), from €315,159 to €343,835
of which Trade receivables: +€24,045
- Other debts +€118,147
up €118,147 (+54.8%), from €215,649 to €333,795
- Trade debts +€104,342
up €104,342 (+16.0%), from €651,151 to €755,492
- Profit (loss) carried forward -€75,601
down €75,601 (-13.3%), from -€568,314 to -€643,915
- Tax, wage and social debts -€34,714
down €34,714 (-36.1%), from €96,163 to €61,450
of which Taxes: -€45,716
- Accrued charges and deferred income -€7,387
down €7,387 (-47.9%), from €15,425 to €8,039
- Gross operating margin +€78,146
up €78,146 (+72.8%), from €107,372 to €185,519
- Write-downs +€6,791
up €6,791 (+4271.4%), from €159 to €6,950
- Financial charges -€3,400
down €3,400 (-27.6%), from €12,310 to €8,910
- Staff costs +€3,273
up €3,273 (+1.5%), from €215,959 to €219,231
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 | €422,474 | €527,261 | +€104,787 | +24.8% |
| Fixed assets | 21/28 | €44,152 | €38,808 | -€5,344 | -12.1% |
| Intangible fixed assets | 21 | €235 | - | -€235 | |
| Tangible fixed assets | 22/27 | €41,286 | €36,177 | -€5,109 | -12.4% |
| Plant, machinery and equipment | 23 | €19,869 | €16,539 | -€3,330 | -16.8% |
| Furniture and vehicles | 24 | €1,415 | €749 | -€667 | -47.1% |
| Other tangible fixed assets | 26 | €20,001 | €18,889 | -€1,112 | -5.6% |
| Financial fixed assets | 28 | €2,632 | €2,632 | = | 0.0% |
| Current assets | 29/58 | €378,322 | €488,453 | +€110,131 | +29.1% |
| Stocks and contracts in progress | 3 | €52,626 | €56,822 | +€4,196 | +8.0% |
| Stocks | 30/36 | €52,626 | €56,822 | +€4,196 | +8.0% |
| Amounts receivable within one year | 40/41 | €315,159 | €343,835 | +€28,676 | +9.1% |
| Trade receivables | 40 | €314,393 | €338,438 | +€24,045 | +7.6% |
| Other amounts receivable | 41 | €766 | €5,397 | +€4,631 | +604.9% |
| Cash at bank and in hand | 54/58 | €9,907 | €86,933 | +€77,026 | +777.5% |
| Deferred charges and accrued income | 490/1 | €630 | €862 | +€232 | +36.8% |
| Total equity and liabilities | 10/49 | €422,474 | €527,261 | +€104,787 | +24.8% |
| Equity | 10/15 | -€555,914 | -€631,515 | -€75,601 | -13.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€568,314 | -€643,915 | -€75,601 | -13.3% |
| Amounts payable | 17/49 | €978,388 | €1,158,776 | +€180,388 | +18.4% |
| Amounts payable within one year | 42/48 | €962,963 | €1,150,737 | +€187,775 | +19.5% |
| Trade debts | 44 | €651,151 | €755,492 | +€104,342 | +16.0% |
| Suppliers | 440/4 | €651,151 | €755,492 | +€104,342 | +16.0% |
| Taxes, remuneration and social security | 45 | €96,163 | €61,450 | -€34,714 | -36.1% |
| Taxes | 450/3 | €54,705 | €8,989 | -€45,716 | -83.6% |
| Remuneration and social security | 454/9 | €41,459 | €52,461 | +€11,003 | +26.5% |
| Other amounts payable | 47/48 | €215,649 | €333,795 | +€118,147 | +54.8% |
| Accrued charges and deferred income | 492/3 | €15,425 | €8,039 | -€7,387 | -47.9% |
| Non-recurring operating income | 76A | - | €1,692 | +€1,692 | |
| Remuneration, social security and pensions | 62 | €215,959 | €219,231 | +€3,273 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,760 | €5,344 | -€416 | -7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €159 | €6,950 | +€6,791 | +4271.4% |
| Other operating charges | 640/8 | €6,014 | €5,530 | -€485 | -8.1% |
| Non-recurring operating charges | 66A | €9,908 | €15,155 | +€5,247 | +53.0% |
| Gross operating margin | 9900 | €107,372 | €185,519 | +€78,146 | +72.8% |
| Operating profit (loss) | 9901 | -€130,428 | -€66,692 | +€63,736 | +48.9% |
| Financial income | 75/76B | €115 | €1 | -€115 | -99.5% |
| Recurring financial income | 75 | €115 | €1 | -€115 | -99.5% |
| Financial charges | 65/66B | €12,310 | €8,910 | -€3,400 | -27.6% |
| Recurring financial charges | 65 | €12,310 | €8,910 | -€3,400 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | -€142,622 | -€75,601 | +€67,021 | +47.0% |
| Profit (loss) for the period | 9904 | -€142,622 | -€75,601 | +€67,021 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€142,622 | -€75,601 | +€67,021 | +47.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.