ARTEGRAPH: 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.
ARTEGRAPH
Largest movements
- Receivables within one year -€53,726
down €53,726 (-34.2%), from €157,203 to €103,477
of which Trade receivables: -€53,540
- Cash +€35,966
up €35,966 (+51.7%), from €69,558 to €105,524
mainly Receivables within one year (+€53,726) and Tax, wage and social debts (+€11,918)
- Trade debts -€26,560
down €26,560 (-42.0%), from €63,236 to €36,675
- Tax, wage and social debts +€11,918
up €11,918 (+43.1%), from €27,656 to €39,574
of which Taxes: +€11,712
- Gross operating margin -€30,240
down €30,240 (-42.2%), from €71,688 to €41,448
- Staff costs -€24,999
down €24,999 (-40.9%), from €61,056 to €36,058
- Taxes +€3,831
up €3,831, from -€1,668 to €2,163
- Depreciation -€2,802
down €2,802 (-67.4%), from €4,157 to €1,355
- Other operating charges -€2,005
down €2,005 (-50.0%), from €4,011 to €2,005
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.
Derived cash bridge
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 | €229,479 | €212,802 | -€16,678 | -7.3% |
| Fixed assets | 21/28 | €2,718 | €3,801 | +€1,082 | +39.8% |
| Tangible fixed assets | 22/27 | €2,718 | €3,801 | +€1,082 | +39.8% |
| Furniture and vehicles | 24 | €2,718 | €3,801 | +€1,082 | +39.8% |
| Current assets | 29/58 | €226,761 | €209,001 | -€17,760 | -7.8% |
| Amounts receivable within one year | 40/41 | €157,203 | €103,477 | -€53,726 | -34.2% |
| Trade receivables | 40 | €157,017 | €103,477 | -€53,540 | -34.1% |
| Other amounts receivable | 41 | €186 | - | -€186 | |
| Cash at bank and in hand | 54/58 | €69,558 | €105,524 | +€35,966 | +51.7% |
| Total equity and liabilities | 10/49 | €229,479 | €212,802 | -€16,678 | -7.3% |
| Equity | 10/15 | €72,244 | €72,248 | +€4 | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,184 | €64,188 | +€4 | 0.0% |
| Amounts payable | 17/49 | €157,235 | €140,553 | -€16,682 | -10.6% |
| Amounts payable within one year | 42/48 | €157,235 | €140,553 | -€16,682 | -10.6% |
| Trade debts | 44 | €63,236 | €36,675 | -€26,560 | -42.0% |
| Suppliers | 440/4 | €63,236 | €36,675 | -€26,560 | -42.0% |
| Taxes, remuneration and social security | 45 | €27,656 | €39,574 | +€11,918 | +43.1% |
| Taxes | 450/3 | €17,536 | €29,249 | +€11,712 | +66.8% |
| Remuneration and social security | 454/9 | €10,120 | €10,326 | +€206 | +2.0% |
| Other amounts payable | 47/48 | €66,343 | €64,303 | -€2,040 | -3.1% |
| Remuneration, social security and pensions | 62 | €61,056 | €36,058 | -€24,999 | -40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,157 | €1,355 | -€2,802 | -67.4% |
| Other operating charges | 640/8 | €4,011 | €2,005 | -€2,005 | -50.0% |
| Gross operating margin | 9900 | €71,688 | €41,448 | -€30,240 | -42.2% |
| Operating profit (loss) | 9901 | €2,464 | €2,030 | -€435 | -17.6% |
| Financial income | 75/76B | €11 | €446 | +€435 | +3,972% |
| Recurring financial income | 75 | €11 | €446 | +€435 | +3,972% |
| Financial charges | 65/66B | €475 | €308 | -€166 | -35.1% |
| Recurring financial charges | 65 | €475 | €308 | -€166 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €2,000 | €2,167 | +€167 | +8.4% |
| Income taxes | 67/77 | -€1,668 | €2,163 | +€3,831 | |
| Profit (loss) for the period | 9904 | €3,668 | €4 | -€3,664 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,668 | €4 | -€3,664 | -99.9% |
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 16 October 2026 via checked.be.