Artelli: 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.
Artelli
Largest movements
- Cash +€10,186
up €10,186 (+90.3%), from €11,278 to €21,464
mainly Other debts (+€43,085) and Net result for the year (+€24,807)
- Receivables within one year -€5,082
down €5,082 (-54.8%), from €9,282 to €4,200
- Debts after one year -€65,997
down €65,997 (-17.7%), from €372,954 to €306,956
- Other debts +€43,085
up €43,085 (+136.8%), from €31,504 to €74,589
- Reserves +€40,769
new in 2025: €40,769
- Profit (loss) carried forward -€15,962
down €15,962 (-100.0%), from €15,962 to €0
- Gross operating margin +€16,774
up €16,774 (+55.9%), from €30,031 to €46,805
- Taxes +€3,968
up €3,968 (+92.3%), from €4,301 to €8,269
- Financial charges +€765
up €765 (+6.2%), from €12,378 to €13,142
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 | €495,852 | €500,664 | +€4,812 | +1.0% |
| Fixed assets | 21/28 | €475,000 | €475,000 | = | 0.0% |
| Financial fixed assets | 28 | €475,000 | €475,000 | = | 0.0% |
| Current assets | 29/58 | €20,852 | €25,664 | +€4,812 | +23.1% |
| Amounts receivable within one year | 40/41 | €9,282 | €4,200 | -€5,082 | -54.8% |
| Trade receivables | 40 | €9,282 | €4,200 | -€5,082 | -54.8% |
| Cash at bank and in hand | 54/58 | €11,278 | €21,464 | +€10,186 | +90.3% |
| Deferred charges and accrued income | 490/1 | €292 | €0 | -€292 | -100.0% |
| Total equity and liabilities | 10/49 | €495,852 | €500,664 | +€4,812 | +1.0% |
| Equity | 10/15 | €20,962 | €45,769 | +€24,807 | +118.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €40,769 | +€40,769 | |
| Distributable reserves | 133 | - | €40,769 | +€40,769 | |
| Profit (loss) carried forward | 14 | €15,962 | €0 | -€15,962 | -100.0% |
| Amounts payable | 17/49 | €474,890 | €454,895 | -€19,995 | -4.2% |
| Amounts payable after more than one year | 17 | €372,954 | €306,956 | -€65,997 | -17.7% |
| Financial debts | 170/4 | €372,954 | €306,956 | -€65,997 | -17.7% |
| Amounts payable within one year | 42/48 | €99,960 | €145,159 | +€45,198 | +45.2% |
| Current portion of amounts payable after more than one year | 42 | €64,791 | €65,997 | +€1,207 | +1.9% |
| Trade debts | 44 | €0 | €30 | +€30 | |
| Suppliers | 440/4 | €0 | €30 | +€30 | |
| Taxes, remuneration and social security | 45 | €3,666 | €4,542 | +€876 | +23.9% |
| Taxes | 450/3 | €3,666 | €4,542 | +€876 | +23.9% |
| Other amounts payable | 47/48 | €31,504 | €74,589 | +€43,085 | +136.8% |
| Accrued charges and deferred income | 492/3 | €1,976 | €2,780 | +€804 | +40.7% |
| Other operating charges | 640/8 | €449 | €587 | +€137 | +30.6% |
| Gross operating margin | 9900 | €30,031 | €46,805 | +€16,774 | +55.9% |
| Operating profit (loss) | 9901 | €29,582 | €46,218 | +€16,636 | +56.2% |
| Financial charges | 65/66B | €12,378 | €13,142 | +€765 | +6.2% |
| Recurring financial charges | 65 | €12,378 | €13,142 | +€765 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €17,205 | €33,076 | +€15,871 | +92.3% |
| Income taxes | 67/77 | €4,301 | €8,269 | +€3,968 | +92.3% |
| Profit (loss) for the period | 9904 | €12,903 | €24,807 | +€11,904 | +92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,903 | €24,807 | +€11,904 | +92.3% |
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 2 October 2026 via checked.be.