ARTEDENT: 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.
ARTEDENT
Largest movements
- Tangible fixed assets +€925,526
up €925,526 (+175.9%), from €526,285 to €1.5m
of which Assets under construction and advance payments: +€959,368
- Cash -€516,490
down €516,490 (-92.5%), from €558,150 to €41,660
mainly Investment in fixed assets (net) (-€959,368) and Contributions, distributions and other (-€101,807)
- Debts after one year +€270,855
new in 2024: €270,855
- Reserves +€91,212
up €91,212 (+13.6%), from €671,868 to €763,080
of which Distributable reserves: +€93,072
- Short-term financial debts +€30,247
up €30,247 (+397.6%), from €7,608 to €37,855
- Tax, wage and social debts -€21,513
down €21,513 (-24.9%), from €86,387 to €64,874
of which Taxes: -€22,478
- Other debts +€17,239
up €17,239 (+44.6%), from €38,638 to €55,877
- Gross operating margin +€56,469
up €56,469 (+17.0%), from €332,103 to €388,571
- Taxes +€12,316
up €12,316 (+16.6%), from €74,302 to €86,618
- Staff costs +€7,810
up €7,810 (+13.4%), from €58,407 to €66,217
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,098,482 | €1,499,610 | +€401,128 | +36.5% |
| Fixed assets | 21/28 | €526,285 | €1,451,811 | +€925,526 | +175.9% |
| Tangible fixed assets | 22/27 | €526,285 | €1,451,811 | +€925,526 | +175.9% |
| Land and buildings | 22 | €85,160 | €63,733 | -€21,427 | -25.2% |
| Plant, machinery and equipment | 23 | €20,856 | €16,204 | -€4,652 | -22.3% |
| Furniture and vehicles | 24 | €18,570 | €10,808 | -€7,762 | -41.8% |
| Assets under construction and advance payments | 27 | €401,698 | €1,361,066 | +€959,368 | +238.8% |
| Current assets | 29/58 | €572,197 | €47,799 | -€524,398 | -91.6% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €558,150 | €41,660 | -€516,490 | -92.5% |
| Deferred charges and accrued income | 490/1 | €14,047 | €6,139 | -€7,908 | -56.3% |
| Total equity and liabilities | 10/49 | €1,098,482 | €1,499,610 | +€401,128 | +36.5% |
| Equity | 10/15 | €954,004 | €1,045,216 | +€91,212 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €671,868 | €763,080 | +€91,212 | +13.6% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €670,008 | €763,080 | +€93,072 | +13.9% |
| Profit (loss) carried forward | 14 | €263,537 | €263,537 | = | 0.0% |
| Amounts payable | 17/49 | €144,478 | €454,394 | +€309,916 | +214.5% |
| Amounts payable after more than one year | 17 | - | €270,855 | +€270,855 | |
| Financial debts | 170/4 | - | €270,855 | +€270,855 | |
| Amounts payable within one year | 42/48 | €142,195 | €180,071 | +€37,876 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €15,774 | +€15,774 | |
| Financial debts | 43 | €7,608 | €37,855 | +€30,247 | +397.6% |
| Other loans | 439 | €7,608 | €37,855 | +€30,247 | +397.6% |
| Trade debts | 44 | €9,562 | €5,691 | -€3,871 | -40.5% |
| Suppliers | 440/4 | €9,562 | €5,691 | -€3,871 | -40.5% |
| Taxes, remuneration and social security | 45 | €86,387 | €64,874 | -€21,513 | -24.9% |
| Taxes | 450/3 | €77,243 | €54,764 | -€22,478 | -29.1% |
| Remuneration and social security | 454/9 | €9,145 | €10,110 | +€965 | +10.6% |
| Other amounts payable | 47/48 | €38,638 | €55,877 | +€17,239 | +44.6% |
| Accrued charges and deferred income | 492/3 | €2,283 | €3,468 | +€1,185 | +51.9% |
| Remuneration, social security and pensions | 62 | €58,407 | €66,217 | +€7,810 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,343 | €33,841 | +€499 | +1.5% |
| Other operating charges | 640/8 | €2,613 | €4,871 | +€2,258 | +86.4% |
| Gross operating margin | 9900 | €332,103 | €388,571 | +€56,469 | +17.0% |
| Operating profit (loss) | 9901 | €237,740 | €283,642 | +€45,902 | +19.3% |
| Financial income | 75/76B | €2,661 | €1,191 | -€1,470 | -55.3% |
| Recurring financial income | 75 | €2,661 | €1,191 | -€1,470 | -55.3% |
| Financial charges | 65/66B | €1,803 | €5,195 | +€3,392 | +188.1% |
| Recurring financial charges | 65 | €1,803 | €5,195 | +€3,392 | +188.1% |
| Profit (loss) for the period before taxes | 9903 | €238,598 | €279,637 | +€41,039 | +17.2% |
| Income taxes | 67/77 | €74,302 | €86,618 | +€12,316 | +16.6% |
| Profit (loss) for the period | 9904 | €164,296 | €193,019 | +€28,723 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €164,296 | €193,019 | +€28,723 | +17.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.