ARTEL ELECTRO: 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.
ARTEL ELECTRO
Largest movements
- Cash +€133,909
up €133,909 (+685%), from €19,562 to €153,471
mainly Net result for the year (+€98,660) and Tax, wage and social debts (+€47,526)
- Receivables within one year -€23,012
down €23,012 (-35.2%), from €65,388 to €42,376
of which Trade receivables: -€25,007
- Tangible fixed assets +€14,337
up €14,337 (+162%), from €8,868 to €23,205
of which Furniture and vehicles: +€16,172
- Reserves +€98,660
up €98,660 (+216%), from €45,745 to €144,405
of which Distributable reserves: +€98,660
- Tax, wage and social debts +€47,526
up €47,526 (+346%), from €13,748 to €61,274
of which Taxes: +€45,402
- Trade debts -€11,449
down €11,449 (-49.8%), from €23,000 to €11,550
- Other debts -€4,503
down €4,503 (-98.6%), from €4,568 to €66
- Current portion of long-term debt -€2,807
no longer reported in 2025 (was €2,807)
- Gross operating margin +€186,985
up €186,985 (+114%), from €163,793 to €350,778
- Taxes +€45,062
up €45,062 (+1,347%), from €3,346 to €48,408
- Staff costs +€40,205
up €40,205 (+26.5%), from €151,691 to €191,896
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 | €101,759 | €229,185 | +€127,426 | +125% |
| Fixed assets | 21/28 | €8,868 | €23,205 | +€14,337 | +162% |
| Tangible fixed assets | 22/27 | €8,868 | €23,205 | +€14,337 | +162% |
| Plant, machinery and equipment | 23 | €3,514 | €1,679 | -€1,835 | -52.2% |
| Furniture and vehicles | 24 | €5,354 | €21,526 | +€16,172 | +302% |
| Current assets | 29/58 | €92,891 | €205,980 | +€113,089 | +122% |
| Amounts receivable within one year | 40/41 | €65,388 | €42,376 | -€23,012 | -35.2% |
| Trade receivables | 40 | €61,000 | €35,993 | -€25,007 | -41.0% |
| Other amounts receivable | 41 | €4,388 | €6,383 | +€1,995 | +45.5% |
| Cash at bank and in hand | 54/58 | €19,562 | €153,471 | +€133,909 | +685% |
| Deferred charges and accrued income | 490/1 | €7,941 | €10,133 | +€2,192 | +27.6% |
| Total equity and liabilities | 10/49 | €101,759 | €229,185 | +€127,426 | +125% |
| Equity | 10/15 | €57,636 | €156,295 | +€98,660 | +171% |
| Contributions | 10/11 | €11,231 | €11,231 | = | 0.0% |
| Contributions outside capital | 11 | €11,231 | €11,231 | = | 0.0% |
| Other | 1109/19 | €11,231 | €11,231 | = | 0.0% |
| Reserves | 13 | €45,745 | €144,405 | +€98,660 | +216% |
| Non-distributable reserves | 130/1 | €6 | €6 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6 | €6 | = | 0.0% |
| Distributable reserves | 133 | €45,739 | €144,399 | +€98,660 | +216% |
| Profit (loss) carried forward | 14 | €660 | €660 | = | 0.0% |
| Amounts payable | 17/49 | €44,123 | €72,890 | +€28,767 | +65.2% |
| Amounts payable within one year | 42/48 | €44,123 | €72,890 | +€28,767 | +65.2% |
| Current portion of amounts payable after more than one year | 42 | €2,807 | - | -€2,807 | |
| Trade debts | 44 | €23,000 | €11,550 | -€11,449 | -49.8% |
| Suppliers | 440/4 | €23,000 | €11,550 | -€11,449 | -49.8% |
| Taxes, remuneration and social security | 45 | €13,748 | €61,274 | +€47,526 | +346% |
| Taxes | 450/3 | €2,972 | €48,374 | +€45,402 | +1,528% |
| Remuneration and social security | 454/9 | €10,776 | €12,900 | +€2,124 | +19.7% |
| Other amounts payable | 47/48 | €4,568 | €66 | -€4,503 | -98.6% |
| Remuneration, social security and pensions | 62 | €151,691 | €191,896 | +€40,205 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,148 | €8,663 | -€485 | -5.3% |
| Other operating charges | 640/8 | €1,736 | €2,953 | +€1,217 | +70.1% |
| Gross operating margin | 9900 | €163,793 | €350,778 | +€186,985 | +114% |
| Operating profit (loss) | 9901 | €1,218 | €147,265 | +€146,047 | +11,991% |
| Financial income | 75/76B | €28 | €1 | -€27 | -95.8% |
| Recurring financial income | 75 | €28 | €1 | -€27 | -95.8% |
| Financial charges | 65/66B | €323 | €199 | -€125 | -38.6% |
| Recurring financial charges | 65 | €323 | €199 | -€125 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €923 | €147,068 | +€146,145 | +15,836% |
| Income taxes | 67/77 | €3,346 | €48,408 | +€45,062 | +1,347% |
| Profit (loss) for the period | 9904 | -€2,423 | €98,660 | +€101,083 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,423 | €98,660 | +€101,083 |
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 15 October 2026 via checked.be.