ARTEFOR: what changed
What changed
ARTEFOR
NACE 82.100, Office administrative and support services
filed annual accounts (NBB)
Net result for the year
€20,941
2024 · €102,013-€81,072
Equity
€1.6m
2024 · €1.6m+€20,941
Cash
€10,961
2024 · €12,899-€1,938
Balance sheet total
€2.0m
2024 · €2.1m-€70,531
Largest movements
Assets
- Current investments -€78,938
down €78,938 (-82.8%), from €95,355 to €16,417
Equity and liabilities
- Debts after one year -€90,610
down €90,610 (-26.4%), from €343,714 to €253,104
of which Financial debts: -€70,610
- Reserves +€20,941
up €20,941 (+2.9%), from €730,552 to €751,493
of which Distributable reserves: +€26,750
Income statement
- Financial income -€118,952
down €118,952 (-99.7%), from €119,332 to €379
- Gross operating margin +€50,543
up €50,543, from -€302 to €50,241
- Taxes +€10,084
up €10,084 (+3,919%), from €257 to €10,341
- Financial charges -€3,539
down €3,539 (-43.6%), from €8,122 to €4,583
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€102,013
Gross operating margin
+€50,543
Depreciation
-€39
Other operating charges
-€270
Financial income
-€118,952
Financial charges
+€3,539
Taxes
-€10,084
Deferred taxes and other
-€5,809
Result 2025
€20,941
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€3,954
Investment
+€78,938
Financing
-€84,830
Cash 2024
€12,899
From operations (derived)
+€3,954
Net result for the year
+€20,941
Depreciation
+€13,733
Receivables after one year
-€19,095
Receivables within one year
-€6,732
Deferred charges and accrued income
+€1,749
Provisions
-€1,489
Trade debts
-€1,851
Tax, wage and social debts
-€3,302
Other debts
+€0
Investment (derived)
+€78,938
Current investments
+€78,938
Financing
-€84,830
Debts after one year
-€90,610
Current portion of long-term debt
+€5,780
Cash 2025
€10,961
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,059,839 | €1,989,308 | -€70,531 | -3.4% |
| Fixed assets | 21/28 | €1,727,310 | €1,713,577 | -€13,733 | -0.8% |
| Tangible fixed assets | 22/27 | €257,517 | €243,783 | -€13,733 | -5.3% |
| Land and buildings | 22 | €253,878 | €242,052 | -€11,826 | -4.7% |
| Plant, machinery and equipment | 23 | €3,638 | €1,731 | -€1,907 | -52.4% |
| Financial fixed assets | 28 | €1,469,794 | €1,469,794 | = | 0.0% |
| Current assets | 29/58 | €332,528 | €275,731 | -€56,797 | -17.1% |
| Amounts receivable after more than one year | 29 | €201,107 | €220,202 | +€19,095 | +9.5% |
| Other amounts receivable | 291 | €201,107 | €220,202 | +€19,095 | +9.5% |
| Amounts receivable within one year | 40/41 | €21,418 | €28,150 | +€6,732 | +31.4% |
| Other amounts receivable | 41 | €21,418 | €28,150 | +€6,732 | +31.4% |
| Current investments | 50/53 | €95,355 | €16,417 | -€78,938 | -82.8% |
| Cash at bank and in hand | 54/58 | €12,899 | €10,961 | -€1,938 | -15.0% |
| Deferred charges and accrued income | 490/1 | €1,749 | - | -€1,749 | |
| Total equity and liabilities | 10/49 | €2,059,839 | €1,989,308 | -€70,531 | -3.4% |
| Equity | 10/15 | €1,596,500 | €1,617,441 | +€20,941 | +1.3% |
| Contributions | 10/11 | €865,948 | €865,948 | = | 0.0% |
| Reserves | 13 | €730,552 | €751,493 | +€20,941 | +2.9% |
| Tax-exempt reserves | 132 | €126,165 | €120,356 | -€5,809 | -4.6% |
| Distributable reserves | 133 | €604,387 | €631,137 | +€26,750 | +4.4% |
| Provisions and deferred taxes | 16 | €32,334 | €30,845 | -€1,489 | -4.6% |
| Deferred taxes | 168 | €32,334 | €30,845 | -€1,489 | -4.6% |
| Amounts payable | 17/49 | €431,005 | €341,022 | -€89,983 | -20.9% |
| Amounts payable after more than one year | 17 | €343,714 | €253,104 | -€90,610 | -26.4% |
| Financial debts | 170/4 | €283,714 | €213,104 | -€70,610 | -24.9% |
| Other amounts payable | 178/9 | €60,000 | €40,000 | -€20,000 | -33.3% |
| Amounts payable within one year | 42/48 | €87,291 | €87,918 | +€627 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €69,830 | €75,610 | +€5,780 | +8.3% |
| Trade debts | 44 | €2,680 | €829 | -€1,851 | -69.1% |
| Suppliers | 440/4 | €2,680 | €829 | -€1,851 | -69.1% |
| Taxes, remuneration and social security | 45 | €13,650 | €10,348 | -€3,302 | -24.2% |
| Taxes | 450/3 | €10,650 | €10,348 | -€302 | -2.8% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100% |
| Other amounts payable | 47/48 | €1,131 | €1,131 | +€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,694 | €13,733 | +€39 | +0.3% |
| Other operating charges | 640/8 | €2,240 | €2,510 | +€270 | +12.0% |
| Gross operating margin | 9900 | -€302 | €50,241 | +€50,543 | |
| Operating profit (loss) | 9901 | -€16,237 | €33,998 | +€50,234 | |
| Financial income | 75/76B | €119,332 | €379 | -€118,952 | -99.7% |
| Recurring financial income | 75 | €119,332 | €379 | -€118,952 | -99.7% |
| Financial charges | 65/66B | €8,122 | €4,583 | -€3,539 | -43.6% |
| Recurring financial charges | 65 | €8,122 | €4,583 | -€3,539 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €94,972 | €29,794 | -€65,179 | -68.6% |
| Transfer from deferred taxes | 780 | €7,298 | €1,489 | -€5,809 | -79.6% |
| Income taxes | 67/77 | €257 | €10,341 | +€10,084 | +3,919% |
| Profit (loss) for the period | 9904 | €102,013 | €20,941 | -€81,072 | -79.5% |
| Transfer from tax-exempt reserves | 789 | - | €5,809 | +€5,809 | |
| Profit (loss) for the period to be appropriated | 9905 | €102,013 | €26,750 | -€75,263 | -73.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.