ARTELO: 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.
ARTELO
Largest movements
- Cash +€83,091
up €83,091 (+36.2%), from €229,750 to €312,842
mainly Other debts (+€137,831) and Net result for the year (+€81,310)
- Tangible fixed assets -€10,126
down €10,126 (-28.0%), from €36,114 to €25,988
of which Furniture and vehicles: -€9,593
- Other debts +€137,831
new in 2025: €137,831
- Profit (loss) carried forward -€80,488
no longer reported in 2025 (was €80,488)
- Tax, wage and social debts +€23,450
up €23,450 (+251.2%), from €9,334 to €32,784
- Debts after one year -€5,981
down €5,981 (-31.5%), from €19,012 to €13,032
No income-statement line moved by more than 1% of the activity.
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 | €279,052 | €350,823 | +€71,771 | +25.7% |
| Fixed assets | 21/28 | €36,114 | €25,988 | -€10,126 | -28.0% |
| Tangible fixed assets | 22/27 | €36,114 | €25,988 | -€10,126 | -28.0% |
| Plant, machinery and equipment | 23 | €1,236 | €872 | -€365 | -29.5% |
| Furniture and vehicles | 24 | €34,424 | €24,831 | -€9,593 | -27.9% |
| Other tangible fixed assets | 26 | €454 | €285 | -€168 | -37.1% |
| Current assets | 29/58 | €242,938 | €324,835 | +€81,897 | +33.7% |
| Amounts receivable within one year | 40/41 | €13,188 | €11,467 | -€1,721 | -13.0% |
| Trade receivables | 40 | €12,100 | €10,675 | -€1,425 | -11.8% |
| Other amounts receivable | 41 | €1,088 | €792 | -€295 | -27.2% |
| Cash at bank and in hand | 54/58 | €229,750 | €312,842 | +€83,091 | +36.2% |
| Deferred charges and accrued income | 490/1 | - | €526 | +€526 | |
| Total equity and liabilities | 10/49 | €279,052 | €350,823 | +€71,771 | +25.7% |
| Equity | 10/15 | €241,488 | €161,000 | -€80,488 | -33.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €151,000 | €151,000 | = | 0.0% |
| Distributable reserves | 133 | €151,000 | €151,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,488 | - | -€80,488 | |
| Amounts payable | 17/49 | €37,564 | €189,823 | +€152,259 | +405.3% |
| Amounts payable after more than one year | 17 | €19,012 | €13,032 | -€5,981 | -31.5% |
| Other amounts payable | 178/9 | €19,012 | €13,032 | -€5,981 | -31.5% |
| Amounts payable within one year | 42/48 | €18,552 | €176,791 | +€158,239 | +853.0% |
| Current portion of amounts payable after more than one year | 42 | €5,650 | €5,981 | +€331 | +5.9% |
| Trade debts | 44 | €3,567 | €195 | -€3,372 | -94.5% |
| Suppliers | 440/4 | €3,567 | €195 | -€3,372 | -94.5% |
| Taxes, remuneration and social security | 45 | €9,334 | €32,784 | +€23,450 | +251.2% |
| Taxes | 450/3 | €9,334 | €32,784 | +€23,450 | +251.2% |
| Other amounts payable | 47/48 | - | €137,831 | +€137,831 | |
| Non-recurring operating income | 76A | €991 | - | -€991 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,001 | €11,240 | +€239 | +2.2% |
| Other operating charges | 640/8 | €746 | €771 | +€25 | +3.4% |
| Non-recurring operating charges | 66A | €991 | - | -€991 | |
| Gross operating margin | 9900 | €116,602 | €116,850 | +€249 | +0.2% |
| Operating profit (loss) | 9901 | €103,863 | €104,839 | +€976 | +0.9% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €1,827 | €1,321 | -€505 | -27.7% |
| Recurring financial charges | 65 | €1,827 | €1,321 | -€505 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €102,040 | €103,518 | +€1,478 | +1.4% |
| Income taxes | 67/77 | €21,912 | €22,208 | +€295 | +1.3% |
| Profit (loss) for the period | 9904 | €80,128 | €81,310 | +€1,182 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €80,128 | €81,310 | +€1,182 | +1.5% |
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.