ARTEQ: 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.
ARTEQ
Largest movements
- Cash +€81,112
up €81,112 (+37.0%), from €219,230 to €300,342
mainly Net result for the year (+€72,812) and Depreciation (+€21,089)
- Receivables within one year -€19,094
down €19,094 (-36.9%), from €51,765 to €32,671
of which Trade receivables: -€19,198
- Tangible fixed assets +€14,858
up €14,858 (+18.4%), from €80,943 to €95,801
of which Plant, machinery and equipment: +€17,018
- Reserves +€72,800
up €72,800 (+46.2%), from €157,729 to €230,529
- Tax, wage and social debts +€12,068
up €12,068 (+234%), from €5,151 to €17,219
- Other debts -€5,367
down €5,367 (-37.2%), from €14,435 to €9,068
- Depreciation +€6,329
up €6,329 (+42.9%), from €14,759 to €21,089
- Staff costs -€6,270
no longer reported in 2025 (was €6,270)
- Gross operating margin -€5,306
down €5,306 (-3.8%), from €140,950 to €135,644
- Taxes -€2,057
down €2,057 (-5.6%), from €36,465 to €34,408
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 | €356,875 | €434,262 | +€77,387 | +21.7% |
| Fixed assets | 21/28 | €81,783 | €96,641 | +€14,858 | +18.2% |
| Tangible fixed assets | 22/27 | €80,943 | €95,801 | +€14,858 | +18.4% |
| Plant, machinery and equipment | 23 | €60,991 | €78,009 | +€17,018 | +27.9% |
| Furniture and vehicles | 24 | €19,952 | €17,793 | -€2,160 | -10.8% |
| Financial fixed assets | 28 | €840 | €840 | = | 0.0% |
| Current assets | 29/58 | €275,092 | €337,621 | +€62,529 | +22.7% |
| Stocks and contracts in progress | 3 | €1,829 | €1,829 | = | 0.0% |
| Stocks | 30/36 | €1,829 | €1,829 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €51,765 | €32,671 | -€19,094 | -36.9% |
| Trade receivables | 40 | €51,765 | €32,567 | -€19,198 | -37.1% |
| Other amounts receivable | 41 | - | €104 | +€104 | |
| Cash at bank and in hand | 54/58 | €219,230 | €300,342 | +€81,112 | +37.0% |
| Deferred charges and accrued income | 490/1 | €2,268 | €2,778 | +€510 | +22.5% |
| Total equity and liabilities | 10/49 | €356,875 | €434,262 | +€77,387 | +21.7% |
| Equity | 10/15 | €321,698 | €394,510 | +€72,812 | +22.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €157,729 | €230,529 | +€72,800 | +46.2% |
| Distributable reserves | 133 | €157,729 | €230,529 | +€72,800 | +46.2% |
| Profit (loss) carried forward | 14 | €157,769 | €157,781 | +€12 | 0.0% |
| Amounts payable | 17/49 | €35,176 | €39,752 | +€4,575 | +13.0% |
| Amounts payable within one year | 42/48 | €35,176 | €39,752 | +€4,575 | +13.0% |
| Trade debts | 44 | €15,590 | €13,465 | -€2,126 | -13.6% |
| Suppliers | 440/4 | €15,590 | €13,465 | -€2,126 | -13.6% |
| Taxes, remuneration and social security | 45 | €5,151 | €17,219 | +€12,068 | +234% |
| Taxes | 450/3 | €5,151 | €17,219 | +€12,068 | +234% |
| Other amounts payable | 47/48 | €14,435 | €9,068 | -€5,367 | -37.2% |
| Remuneration, social security and pensions | 62 | €6,270 | - | -€6,270 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,759 | €21,089 | +€6,329 | +42.9% |
| Other operating charges | 640/8 | €7,780 | €7,736 | -€44 | -0.6% |
| Gross operating margin | 9900 | €140,950 | €135,644 | -€5,306 | -3.8% |
| Operating profit (loss) | 9901 | €112,141 | €106,820 | -€5,321 | -4.7% |
| Financial income | 75/76B | €336 | €654 | +€318 | +94.5% |
| Recurring financial income | 75 | €336 | €654 | +€318 | +94.5% |
| Financial charges | 65/66B | €210 | €254 | +€44 | +20.9% |
| Recurring financial charges | 65 | €210 | €254 | +€44 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €112,268 | €107,220 | -€5,047 | -4.5% |
| Income taxes | 67/77 | €36,465 | €34,408 | -€2,057 | -5.6% |
| Profit (loss) for the period | 9904 | €75,803 | €72,812 | -€2,991 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €75,803 | €72,812 | -€2,991 | -3.9% |
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 28 October 2026 via checked.be.