Arternative: 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.
What changed
Arternative
NACE 47.716, Retail sale of clothing and accessories for women, men, children and babies (general range)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€870,614
2024 · €1.2m-€341,959
Equity
€2.5m
2024 · €1.6m+€870,614
Cash
€461,565
2024 · €1.1m-€613,018
Balance sheet total
€8.1m
2024 · €6.5m+€1.7m
Largest movements
Assets
- Stocks and contracts +€2.1m
up €2.1m (+58.6%), from €3.5m to €5.6m
- Cash -€613,018
down €613,018 (-57.0%), from €1.1m to €461,565
mainly Stocks and contracts (-€2.1m) and Tax, wage and social debts (-€414,578)
- Receivables within one year +€94,662
up €94,662 (+9.5%), from €1.0m to €1.1m
of which Other amounts receivable: +€121,800
Equity and liabilities
- Current portion of long-term debt +€1.2m
up €1.2m (+1250.7%), from €99,552 to €1.3m
- Profit (loss) carried forward +€870,614
up €870,614 (+61.2%), from €1.4m to €2.3m
- Tax, wage and social debts -€414,578
down €414,578 (-29.6%), from €1.4m to €984,164
of which Taxes: -€452,083
- Trade debts +€320,277
up €320,277 (+14.1%), from €2.3m to €2.6m
- Debts after one year -€189,648
down €189,648 (-37.9%), from €500,802 to €311,153
Income statement
- Turnover +€18.6m
new in 2025: €18.6m
- Goods and materials +€7.2m
new in 2025: €7.2m
of which Purchases: +€9.6m
- Services and other goods +€7.1m
new in 2025: €7.1m
- Gross operating margin -€3.7m
no longer reported in 2025 (was €3.7m)
- Staff costs +€638,535
up €638,535 (+46.0%), from €1.4m to €2.0m
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.
Result 2024
€1.2m
Turnover
+€18.6m
Other operating income
+€13,787
Goods and materials
-€7.2m
Services and other goods
-€7.1m
Staff costs
-€638,535
Depreciation
-€28,676
Write-downs
+€31,725
Other operating charges
-€63,296
Other operating items
-€4.0m
Financial income
-€14,754
Financial charges
-€56,021
Taxes
+€151,952
Result 2025
€870,614
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.
From operations
-€1.4m
Investment
-€191,985
Financing
+€955,448
Cash 2024
€1.1m
From operations (derived)
-€1.4m
Net result for the year
+€870,614
Depreciation
+€93,158
Stocks and contracts
-€2.1m
Receivables within one year
-€94,662
Deferred charges and accrued income
-€20,225
Trade debts
+€320,277
Tax, wage and social debts
-€414,578
Advances received
+€64,707
Other debts
-€167,204
Accrued charges and deferred income
+€36,349
Investment (derived)
-€191,985
Investment in fixed assets (net)
-€191,985
Financing
+€955,448
Debts after one year
-€189,648
Current portion of long-term debt
+€1.2m
Short-term financial debts
-€100,000
Cash 2025
€461,565
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,480,842 | €8,146,455 | +€1.7m | +25.7% |
| Fixed assets | 21/28 | €664,551 | €763,377 | +€98,826 | +14.9% |
| Tangible fixed assets | 22/27 | €637,061 | €692,252 | +€55,191 | +8.7% |
| Land and buildings | 22 | €48,247 | €90,884 | +€42,637 | +88.4% |
| Plant, machinery and equipment | 23 | €3,466 | €3,575 | +€109 | +3.1% |
| Furniture and vehicles | 24 | €13,172 | €11,970 | -€1,202 | -9.1% |
| Other tangible fixed assets | 26 | €572,175 | €585,823 | +€13,648 | +2.4% |
| Financial fixed assets | 28 | €27,490 | €71,125 | +€43,635 | +158.7% |
| Other financial fixed assets | 284/8 | - | €71,125 | +€71,125 | |
| Amounts receivable and cash guarantees | 285/8 | - | €71,125 | +€71,125 | |
| Current assets | 29/58 | €5,816,291 | €7,383,078 | +€1.6m | +26.9% |
| Stocks and contracts in progress | 3 | €3,520,974 | €5,585,891 | +€2.1m | +58.6% |
| Stocks | 30/36 | €3,520,974 | €5,585,891 | +€2.1m | +58.6% |
| Goods purchased for resale | 34 | - | €5,585,891 | +€5.6m | |
| Amounts receivable within one year | 40/41 | €1,001,327 | €1,095,989 | +€94,662 | +9.5% |
| Trade receivables | 40 | €969,954 | €942,816 | -€27,138 | -2.8% |
| Other amounts receivable | 41 | €31,373 | €153,173 | +€121,800 | +388.2% |
| Current investments | 50/53 | €174,482 | €174,482 | = | 0.0% |
| Own shares | 50 | - | €174,482 | +€174,482 | |
| Cash at bank and in hand | 54/58 | €1,074,582 | €461,565 | -€613,018 | -57.0% |
| Deferred charges and accrued income | 490/1 | €44,925 | €65,151 | +€20,225 | +45.0% |
| Total equity and liabilities | 10/49 | €6,480,842 | €8,146,455 | +€1.7m | +25.7% |
| Equity | 10/15 | €1,617,844 | €2,488,459 | +€870,614 | +53.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €176,342 | €176,342 | = | 0.0% |
| Non-distributable reserves | 130/1 | €176,342 | €176,342 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | €174,482 | €174,482 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,422,902 | €2,293,516 | +€870,614 | +61.2% |
| Amounts payable | 17/49 | €4,862,997 | €5,657,996 | +€794,999 | +16.3% |
| Amounts payable after more than one year | 17 | €500,802 | €311,153 | -€189,648 | -37.9% |
| Financial debts | 170/4 | €500,802 | €311,153 | -€189,648 | -37.9% |
| Credit institutions | 173 | - | €311,153 | +€311,153 | |
| Amounts payable within one year | 42/48 | €4,362,196 | €5,310,494 | +€948,298 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €99,552 | €1,344,648 | +€1.2m | +1250.7% |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100.0% |
| Credit institutions | 430/8 | €100,000 | €0 | -€100,000 | -100.0% |
| Trade debts | 44 | €2,275,146 | €2,595,424 | +€320,277 | +14.1% |
| Suppliers | 440/4 | €2,275,146 | €2,595,424 | +€320,277 | +14.1% |
| Advances received on contracts in progress | 46 | €108,755 | €173,462 | +€64,707 | +59.5% |
| Taxes, remuneration and social security | 45 | €1,398,743 | €984,164 | -€414,578 | -29.6% |
| Taxes | 450/3 | €1,255,949 | €803,866 | -€452,083 | -36.0% |
| Remuneration and social security | 454/9 | €142,794 | €180,299 | +€37,505 | +26.3% |
| Other amounts payable | 47/48 | €380,000 | €212,796 | -€167,204 | -44.0% |
| Accrued charges and deferred income | 492/3 | €0 | €36,349 | +€36,349 | |
| Operating income | 70/76A | - | €18,629,624 | +€18.6m | |
| Turnover | 70 | - | €18,615,837 | +€18.6m | |
| Other operating income | 74 | - | €13,787 | +€13,787 | |
| Operating charges | 60/66A | - | €17,053,386 | +€17.1m | |
| Goods for resale, raw materials and consumables | 60 | - | €7,202,167 | +€7.2m | |
| Purchases | 600/8 | - | €9,564,121 | +€9.6m | |
| Change in stocks: decrease (increase) | 609 | - | -€2,361,954 | -€2.4m | |
| Services and other goods | 61 | - | €7,127,973 | +€7.1m | |
| Remuneration, social security and pensions | 62 | €1,387,300 | €2,025,836 | +€638,535 | +46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,482 | €93,158 | +€28,676 | +44.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €275,802 | €244,077 | -€31,725 | -11.5% |
| Other operating charges | 640/8 | €9,569 | €72,864 | +€63,296 | +661.5% |
| Non-recurring operating charges | 66A | - | €287,310 | +€287,310 | |
| Gross operating margin | 9900 | €3,736,528 | - | -€3.7m | |
| Operating profit (loss) | 9901 | €1,999,375 | €1,576,238 | -€423,137 | -21.2% |
| Financial income | 75/76B | €27,912 | €13,158 | -€14,754 | -52.9% |
| Recurring financial income | 75 | €27,912 | €13,158 | -€14,754 | -52.9% |
| Income from current assets | 751 | - | €0 | = | |
| Other financial income | 752/9 | - | €13,158 | +€13,158 | |
| Financial charges | 65/66B | €350,007 | €406,028 | +€56,021 | +16.0% |
| Recurring financial charges | 65 | €350,007 | €406,028 | +€56,021 | +16.0% |
| Debt charges | 650 | - | €45,973 | +€45,973 | |
| Other financial charges | 652/9 | - | €360,055 | +€360,055 | |
| Profit (loss) for the period before taxes | 9903 | €1,677,280 | €1,183,368 | -€493,912 | -29.4% |
| Income taxes | 67/77 | €464,706 | €312,754 | -€151,952 | -32.7% |
| Taxes | 670/3 | - | €312,754 | +€312,754 | |
| Profit (loss) for the period | 9904 | €1,212,574 | €870,614 | -€341,959 | -28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,212,574 | €870,614 | -€341,959 | -28.2% |
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 3 October 2026 via checked.be.