ARTES: 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.
ARTES
Largest movements
- Cash +€168,895
up €168,895 (+97.3%), from €173,578 to €342,473
mainly Current investments (+€100,000) and Net result for the year (+€46,952)
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Tangible fixed assets -€10,493
down €10,493 (-22.5%), from €46,573 to €36,080
of which Furniture and vehicles: -€10,418
- Reserves +€46,950
up €46,950 (+17.7%), from €264,764 to €311,714
- Tax, wage and social debts +€8,771
up €8,771 (+17.7%), from €49,635 to €58,406
of which Taxes: +€11,271
- Trade debts +€4,301
up €4,301 (+138.4%), from €3,107 to €7,408
- Gross operating margin -€30,496
down €30,496 (-27.3%), from €111,735 to €81,239
- Taxes -€7,915
down €7,915 (-27.6%), from €28,719 to €20,805
- Depreciation +€5,396
up €5,396 (+57.1%), from €9,448 to €14,844
- Financial income +€1,776
up €1,776 (+339.6%), from €523 to €2,300
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 | €338,144 | €397,743 | +€59,599 | +17.6% |
| Fixed assets | 21/28 | €46,573 | €36,080 | -€10,493 | -22.5% |
| Tangible fixed assets | 22/27 | €46,573 | €36,080 | -€10,493 | -22.5% |
| Furniture and vehicles | 24 | €46,423 | €36,005 | -€10,418 | -22.4% |
| Other tangible fixed assets | 26 | €150 | €75 | -€75 | -50.0% |
| Current assets | 29/58 | €291,571 | €361,663 | +€70,092 | +24.0% |
| Amounts receivable within one year | 40/41 | €16,799 | €16,530 | -€269 | -1.6% |
| Trade receivables | 40 | €16,799 | €11,272 | -€5,527 | -32.9% |
| Other amounts receivable | 41 | - | €5,258 | +€5,258 | |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €173,578 | €342,473 | +€168,895 | +97.3% |
| Deferred charges and accrued income | 490/1 | €1,194 | €2,660 | +€1,466 | +122.8% |
| Total equity and liabilities | 10/49 | €338,144 | €397,743 | +€59,599 | +17.6% |
| Equity | 10/15 | €284,977 | €331,928 | +€46,952 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €264,764 | €311,714 | +€46,950 | +17.7% |
| Distributable reserves | 133 | €264,764 | €311,714 | +€46,950 | +17.7% |
| Profit (loss) carried forward | 14 | €1,613 | €1,615 | +€2 | +0.1% |
| Amounts payable | 17/49 | €53,167 | €65,814 | +€12,648 | +23.8% |
| Amounts payable within one year | 42/48 | €53,167 | €65,814 | +€12,648 | +23.8% |
| Trade debts | 44 | €3,107 | €7,408 | +€4,301 | +138.4% |
| Suppliers | 440/4 | €3,107 | €7,408 | +€4,301 | +138.4% |
| Taxes, remuneration and social security | 45 | €49,635 | €58,406 | +€8,771 | +17.7% |
| Taxes | 450/3 | €47,135 | €58,406 | +€11,271 | +23.9% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100.0% |
| Other amounts payable | 47/48 | €424 | €0 | -€424 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €10,860 | €0 | -€10,860 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,448 | €14,844 | +€5,396 | +57.1% |
| Other operating charges | 640/8 | €1,040 | €630 | -€410 | -39.4% |
| Gross operating margin | 9900 | €111,735 | €81,239 | -€30,496 | -27.3% |
| Operating profit (loss) | 9901 | €101,246 | €65,765 | -€35,482 | -35.0% |
| Financial income | 75/76B | €523 | €2,300 | +€1,776 | +339.6% |
| Recurring financial income | 75 | €523 | €2,300 | +€1,776 | +339.6% |
| Financial charges | 65/66B | €202 | €308 | +€106 | +52.3% |
| Recurring financial charges | 65 | €202 | €308 | +€106 | +52.3% |
| Profit (loss) for the period before taxes | 9903 | €101,567 | €67,756 | -€33,811 | -33.3% |
| Income taxes | 67/77 | €28,719 | €20,805 | -€7,915 | -27.6% |
| Profit (loss) for the period | 9904 | €72,848 | €46,952 | -€25,896 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €72,848 | €46,952 | -€25,896 | -35.5% |
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 1 October 2026 via checked.be.