ARTERIAX: 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.
ARTERIAX
Largest movements
- Receivables within one year +€357,184
up €357,184 (+8,822%), from €4,049 to €361,233
of which Trade receivables: +€353,056
- Cash +€29,874
up €29,874 (+264%), from €11,317 to €41,191
mainly Net result for the year (+€389,074) and Depreciation (+€24,315)
- Intangible fixed assets +€23,803
up €23,803 (+11.1%), from €214,478 to €238,281
- Profit (loss) carried forward +€389,074
up €389,074 (+2,161%), from €18,008 to €407,082
- Tax, wage and social debts +€23,025
new in 2025: €23,025
- Gross operating margin +€495,761
up €495,761 (+1,142%), from €43,400 to €539,161
- Taxes +€118,523
up €118,523 (+2,633%), from €4,502 to €123,025
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 | €229,844 | €640,705 | +€410,862 | +179% |
| Fixed assets | 21/28 | €214,478 | €238,281 | +€23,803 | +11.1% |
| Intangible fixed assets | 21 | €214,478 | €238,281 | +€23,803 | +11.1% |
| Current assets | 29/58 | €15,366 | €402,424 | +€387,058 | +2,519% |
| Amounts receivable within one year | 40/41 | €4,049 | €361,233 | +€357,184 | +8,822% |
| Trade receivables | 40 | - | €353,056 | +€353,056 | |
| Other amounts receivable | 41 | €4,049 | €8,177 | +€4,128 | +102% |
| Cash at bank and in hand | 54/58 | €11,317 | €41,191 | +€29,874 | +264% |
| Total equity and liabilities | 10/49 | €229,844 | €640,705 | +€410,862 | +179% |
| Equity | 10/15 | €228,008 | €617,082 | +€389,074 | +171% |
| Contributions | 10/11 | €210,000 | €210,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,008 | €407,082 | +€389,074 | +2,161% |
| Amounts payable | 17/49 | €1,836 | €23,623 | +€21,787 | +1,187% |
| Amounts payable within one year | 42/48 | €1,836 | €23,623 | +€21,787 | +1,187% |
| Trade debts | 44 | €1,836 | €598 | -€1,237 | -67.4% |
| Suppliers | 440/4 | €1,836 | €598 | -€1,237 | -67.4% |
| Taxes, remuneration and social security | 45 | - | €23,025 | +€23,025 | |
| Taxes | 450/3 | - | €23,025 | +€23,025 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,503 | €24,315 | +€3,813 | +18.6% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €43,400 | €539,161 | +€495,761 | +1,142% |
| Operating profit (loss) | 9901 | €22,510 | €514,446 | +€491,936 | +2,185% |
| Financial charges | 65/66B | - | €2,347 | +€2,347 | |
| Recurring financial charges | 65 | - | €2,347 | +€2,347 | |
| Profit (loss) for the period before taxes | 9903 | €22,510 | €512,099 | +€489,589 | +2,175% |
| Income taxes | 67/77 | €4,502 | €123,025 | +€118,523 | +2,633% |
| Profit (loss) for the period | 9904 | €18,008 | €389,074 | +€371,066 | +2,061% |
| Profit (loss) for the period to be appropriated | 9905 | €18,008 | €389,074 | +€371,066 | +2,061% |
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 13 October 2026 via checked.be.