ARTELETRA: 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.
ARTELETRA
Largest movements
- Tangible fixed assets -€320,762
down €320,762 (-8.4%), from €3.8m to €3.5m
- Stocks and contracts -€194,239
down €194,239 (-88.2%), from €220,240 to €26,001
- Cash +€158,879
up €158,879 (+157%), from €101,156 to €260,036
mainly Net result for the year (+€290,810) and Investment in fixed assets (net) (+€215,000)
- Debts after one year -€376,272
down €376,272 (-100%), from €376,272 to €0
- Reserves +€288,739
up €288,739 (+11.3%), from €2.5m to €2.8m
of which Distributable reserves: +€350,000
- Current portion of long-term debt -€224,500
down €224,500 (-100%), from €224,500 to €0
- Tax, wage and social debts +€64,411
up €64,411 (+416%), from €15,470 to €79,880
- Other debts -€50,661
down €50,661 (-46.4%), from €109,239 to €58,578
- Gross operating margin +€395,544
up €395,544 (+258%), from €153,581 to €549,125
- Taxes +€148,595
up €148,595 (+961%), from €15,470 to €164,065
- Financial charges -€55,052
down €55,052 (-81.7%), from €67,355 to €12,303
- Other operating charges -€8,905
down €8,905 (-82.3%), from €10,823 to €1,918
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 | €4,141,523 | €3,779,237 | -€362,286 | -8.7% |
| Fixed assets | 21/28 | €3,812,963 | €3,492,201 | -€320,762 | -8.4% |
| Tangible fixed assets | 22/27 | €3,812,963 | €3,492,201 | -€320,762 | -8.4% |
| Land and buildings | 22 | €3,812,963 | €3,492,201 | -€320,762 | -8.4% |
| Current assets | 29/58 | €328,560 | €287,037 | -€41,524 | -12.6% |
| Stocks and contracts in progress | 3 | €220,240 | €26,001 | -€194,239 | -88.2% |
| Stocks | 30/36 | €220,240 | €26,001 | -€194,239 | -88.2% |
| Amounts receivable within one year | 40/41 | €7,163 | €1,000 | -€6,163 | -86.0% |
| Trade receivables | 40 | €1,973 | €0 | -€1,973 | -100% |
| Other amounts receivable | 41 | €5,191 | €1,000 | -€4,191 | -80.7% |
| Cash at bank and in hand | 54/58 | €101,156 | €260,036 | +€158,879 | +157% |
| Total equity and liabilities | 10/49 | €4,141,523 | €3,779,237 | -€362,286 | -8.7% |
| Equity | 10/15 | €2,654,265 | €2,945,075 | +€290,810 | +11.0% |
| Contributions | 10/11 | €63,457 | €63,457 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,457 | €1,457 | = | 0.0% |
| Share premium | 1100/10 | €1,457 | €1,457 | = | 0.0% |
| Reserves | 13 | €2,549,632 | €2,838,371 | +€288,739 | +11.3% |
| Non-distributable reserves | 130/1 | €101,119 | €101,119 | = | 0.0% |
| Legal reserve | 130 | €44,869 | €44,869 | = | 0.0% |
| Reserves not available under the articles | 1311 | €56,250 | €56,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,848,513 | €1,787,252 | -€61,261 | -3.3% |
| Distributable reserves | 133 | €600,000 | €950,000 | +€350,000 | +58.3% |
| Profit (loss) carried forward | 14 | €41,177 | €43,248 | +€2,071 | +5.0% |
| Provisions and deferred taxes | 16 | €715,219 | €689,486 | -€25,733 | -3.6% |
| Deferred taxes | 168 | €715,219 | €689,486 | -€25,733 | -3.6% |
| Amounts payable | 17/49 | €772,039 | €144,676 | -€627,363 | -81.3% |
| Amounts payable after more than one year | 17 | €376,272 | €0 | -€376,272 | -100% |
| Other amounts payable | 178/9 | €376,272 | €0 | -€376,272 | -100% |
| Amounts payable within one year | 42/48 | €359,693 | €140,576 | -€219,117 | -60.9% |
| Current portion of amounts payable after more than one year | 42 | €224,500 | €0 | -€224,500 | -100% |
| Trade debts | 44 | €10,484 | €2,118 | -€8,367 | -79.8% |
| Suppliers | 440/4 | €10,484 | €2,118 | -€8,367 | -79.8% |
| Taxes, remuneration and social security | 45 | €15,470 | €79,880 | +€64,411 | +416% |
| Taxes | 450/3 | €15,470 | €79,880 | +€64,411 | +416% |
| Other amounts payable | 47/48 | €109,239 | €58,578 | -€50,661 | -46.4% |
| Accrued charges and deferred income | 492/3 | €36,075 | €4,100 | -€31,974 | -88.6% |
| Non-recurring operating income | 76A | - | €520,000 | +€520,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,882 | €105,762 | +€3,880 | +3.8% |
| Other operating charges | 640/8 | €10,823 | €1,918 | -€8,905 | -82.3% |
| Gross operating margin | 9900 | €153,581 | €549,125 | +€395,544 | +258% |
| Operating profit (loss) | 9901 | €40,876 | €441,445 | +€400,569 | +980% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €67,355 | €12,303 | -€55,052 | -81.7% |
| Recurring financial charges | 65 | €67,355 | €12,303 | -€55,052 | -81.7% |
| Profit (loss) for the period before taxes | 9903 | -€26,479 | €429,142 | +€455,621 | |
| Transfer from deferred taxes | 780 | €24,625 | €25,733 | +€1,108 | +4.5% |
| Income taxes | 67/77 | €15,470 | €164,065 | +€148,595 | +961% |
| Profit (loss) for the period | 9904 | -€17,324 | €290,810 | +€308,134 | |
| Transfer from tax-exempt reserves | 789 | €58,624 | €61,261 | +€2,638 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,300 | €352,071 | +€310,771 | +752% |
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 24 October 2026 via checked.be.