ARTELI: what changed
Two fiscal 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.
ARTELI
Largest movements
- Cash -€36,230
down €36,230 (-60.8%), from €59,600 to €23,369
mainly Contributions, distributions and other (-€294,118) and Current investments (-€20,839)
- Receivables within one year -€29,847
down €29,847 (-85.1%), from €35,053 to €5,206
of which Other amounts receivable: -€29,847
- Current investments +€20,839
up €20,839 (+5.2%), from €397,738 to €418,577
- Profit (loss) carried forward -€294,352
down €294,352 (-77.9%), from €377,741 to €83,389
- Other debts +€200,588
up €200,588 (+182.1%), from €110,142 to €310,730
- Tax, wage and social debts +€47,232
up €47,232 (+2465.9%), from €1,915 to €49,147
- Gross operating margin -€145,881
down €145,881 (-97.5%), from €149,610 to €3,729
- Taxes -€39,274
down €39,274 (-99.1%), from €39,621 to €347
- Financial income -€9,557
down €9,557 (-91.3%), from €10,468 to €911
- Financial charges +€3,726
up €3,726 (+2147.5%), from €174 to €3,900
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.
Cash bridge derived
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 | €494,009 | €448,545 | -€45,465 | -9.2% |
| Fixed assets | 21/28 | €327 | €100 | -€227 | -69.4% |
| Tangible fixed assets | 22/27 | €327 | €100 | -€227 | -69.4% |
| Furniture and vehicles | 24 | €327 | €100 | -€227 | -69.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €493,682 | €448,445 | -€45,238 | -9.2% |
| Amounts receivable within one year | 40/41 | €35,053 | €5,206 | -€29,847 | -85.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €35,053 | €5,206 | -€29,847 | -85.1% |
| Current investments | 50/53 | €397,738 | €418,577 | +€20,839 | +5.2% |
| Cash at bank and in hand | 54/58 | €59,600 | €23,369 | -€36,230 | -60.8% |
| Deferred charges and accrued income | 490/1 | €1,292 | €1,292 | = | 0.0% |
| Total equity and liabilities | 10/49 | €494,009 | €448,545 | -€45,465 | -9.2% |
| Equity | 10/15 | €378,741 | €84,389 | -€294,352 | -77.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €377,741 | €83,389 | -€294,352 | -77.9% |
| Amounts payable | 17/49 | €115,268 | €364,156 | +€248,887 | +215.9% |
| Amounts payable within one year | 42/48 | €114,337 | €363,580 | +€249,243 | +218.0% |
| Trade debts | 44 | €2,279 | €3,703 | +€1,423 | +62.4% |
| Suppliers | 440/4 | €2,279 | €3,703 | +€1,423 | +62.4% |
| Taxes, remuneration and social security | 45 | €1,915 | €49,147 | +€47,232 | +2465.9% |
| Taxes | 450/3 | €1,915 | €49,147 | +€47,232 | +2465.9% |
| Other amounts payable | 47/48 | €110,142 | €310,730 | +€200,588 | +182.1% |
| Accrued charges and deferred income | 492/3 | €931 | €576 | -€356 | -38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227 | €227 | -€0 | 0.0% |
| Other operating charges | 640/8 | €905 | €400 | -€505 | -55.8% |
| Non-recurring operating charges | 66A | €4,211 | - | -€4,211 | |
| Gross operating margin | 9900 | €149,610 | €3,729 | -€145,881 | -97.5% |
| Operating profit (loss) | 9901 | €144,266 | €3,102 | -€141,165 | -97.9% |
| Financial income | 75/76B | €10,468 | €911 | -€9,557 | -91.3% |
| Recurring financial income | 75 | €10,468 | €911 | -€9,557 | -91.3% |
| Financial charges | 65/66B | €174 | €3,900 | +€3,726 | +2147.5% |
| Recurring financial charges | 65 | €174 | €3,900 | +€3,726 | +2147.5% |
| Profit (loss) for the period before taxes | 9903 | €154,560 | €112 | -€154,448 | -99.9% |
| Income taxes | 67/77 | €39,621 | €347 | -€39,274 | -99.1% |
| Profit (loss) for the period | 9904 | €114,940 | -€234 | -€115,174 | |
| Profit (loss) for the period to be appropriated | 9905 | €114,940 | -€234 | -€115,174 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.