ARTERRA: 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.
ARTERRA
Largest movements
- Cash +€118,050
up €118,050 (+75.0%), from €157,421 to €275,471
mainly Current investments (+€69,585) and Net result for the year (+€55,025)
- Current investments -€69,585
down €69,585 (-99.4%), from €70,000 to €415
- Tangible fixed assets -€10,442
down €10,442 (-38.2%), from €27,358 to €16,916
of which Furniture and vehicles: -€9,733
- Receivables within one year -€4,684
down €4,684 (-65.0%), from €7,202 to €2,518
of which Other amounts receivable: -€2,626
- Reserves +€55,025
up €55,025 (+31.7%), from €173,547 to €228,572
of which Distributable reserves: +€55,025
- Other debts -€14,783
no longer reported in 2025 (was €14,783)
- Current portion of long-term debt -€3,787
down €3,787 (-74.9%), from €5,060 to €1,272
- Gross operating margin +€26,025
up €26,025 (+40.1%), from €64,893 to €90,918
- Taxes +€11,420
up €11,420 (+78.4%), from €14,562 to €25,982
- Financial income +€1,875
up €1,875 (+164%), from €1,143 to €3,018
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 | €264,278 | €297,616 | +€33,338 | +12.6% |
| Fixed assets | 21/28 | €27,358 | €16,916 | -€10,442 | -38.2% |
| Tangible fixed assets | 22/27 | €27,358 | €16,916 | -€10,442 | -38.2% |
| Furniture and vehicles | 24 | €21,738 | €12,005 | -€9,733 | -44.8% |
| Other tangible fixed assets | 26 | €5,620 | €4,911 | -€710 | -12.6% |
| Current assets | 29/58 | €236,920 | €280,701 | +€43,781 | +18.5% |
| Amounts receivable within one year | 40/41 | €7,202 | €2,518 | -€4,684 | -65.0% |
| Trade receivables | 40 | €3,157 | €1,098 | -€2,058 | -65.2% |
| Other amounts receivable | 41 | €4,045 | €1,419 | -€2,626 | -64.9% |
| Current investments | 50/53 | €70,000 | €415 | -€69,585 | -99.4% |
| Cash at bank and in hand | 54/58 | €157,421 | €275,471 | +€118,050 | +75.0% |
| Deferred charges and accrued income | 490/1 | €2,297 | €2,297 | +€1 | 0.0% |
| Total equity and liabilities | 10/49 | €264,278 | €297,616 | +€33,338 | +12.6% |
| Equity | 10/15 | €218,490 | €273,515 | +€55,025 | +25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €173,547 | €228,572 | +€55,025 | +31.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €171,687 | €226,712 | +€55,025 | +32.0% |
| Profit (loss) carried forward | 14 | €26,343 | €26,343 | = | 0.0% |
| Amounts payable | 17/49 | €45,788 | €24,102 | -€21,686 | -47.4% |
| Amounts payable after more than one year | 17 | €1,272 | - | -€1,272 | |
| Financial debts | 170/4 | €1,272 | - | -€1,272 | |
| Amounts payable within one year | 42/48 | €44,516 | €24,102 | -€20,414 | -45.9% |
| Current portion of amounts payable after more than one year | 42 | €5,060 | €1,272 | -€3,787 | -74.9% |
| Trade debts | 44 | €4,041 | €1,231 | -€2,811 | -69.5% |
| Suppliers | 440/4 | €4,041 | €1,231 | -€2,811 | -69.5% |
| Taxes, remuneration and social security | 45 | €20,631 | €21,598 | +€967 | +4.7% |
| Taxes | 450/3 | €18,531 | €14,998 | -€3,533 | -19.1% |
| Remuneration and social security | 454/9 | €2,100 | €6,600 | +€4,500 | +214% |
| Other amounts payable | 47/48 | €14,783 | - | -€14,783 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,155 | €10,442 | -€713 | -6.4% |
| Other operating charges | 640/8 | €2,108 | €2,212 | +€104 | +4.9% |
| Gross operating margin | 9900 | €64,893 | €90,918 | +€26,025 | +40.1% |
| Operating profit (loss) | 9901 | €51,630 | €78,264 | +€26,635 | +51.6% |
| Financial income | 75/76B | €1,143 | €3,018 | +€1,875 | +164% |
| Recurring financial income | 75 | €1,143 | €3,018 | +€1,875 | +164% |
| Financial charges | 65/66B | €362 | €276 | -€86 | -23.9% |
| Recurring financial charges | 65 | €362 | €276 | -€86 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €52,411 | €81,007 | +€28,596 | +54.6% |
| Income taxes | 67/77 | €14,562 | €25,982 | +€11,420 | +78.4% |
| Profit (loss) for the period | 9904 | €37,848 | €55,025 | +€17,176 | +45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,848 | €55,025 | +€17,176 | +45.4% |
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 14 October 2026 via checked.be.