ARTEVELD: 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.
What changed
ARTEVELD
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€36,116
2024 · €43,318-€7,202
Equity
€397,572
2024 · €361,455+€36,116
Cash
€6,471
2024 · €8,519-€2,048
Balance sheet total
€1.0m
2024 · €1.1m-€33,214
Largest movements
Assets
- Tangible fixed assets -€36,297
down €36,297 (-3.5%), from €1.0m to €1.0m
Equity and liabilities
- Debts after one year -€76,431
down €76,431 (-13.9%), from €551,431 to €475,000
- Profit (loss) carried forward +€36,116
up €36,116 (+58.8%), from €61,455 to €97,572
Income statement
- Gross operating margin -€11,778
down €11,778 (-8.8%), from €134,199 to €122,421
- Taxes -€4,530
down €4,530 (-28.7%), from €15,769 to €11,239
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
€43,318
Gross operating margin
-€11,778
Depreciation
-€147
Other operating charges
-€889
Financial charges
+€1,081
Taxes
+€4,530
Result 2025
€36,116
raises the resultlowers the result
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.
From operations
+€79,459
Investment
-€5,788
Financing
-€75,720
Cash 2024
€8,519
From operations (derived)
+€79,459
Net result for the year
+€36,116
Depreciation
+€42,085
Receivables within one year
-€5,053
Deferred charges and accrued income
-€77
Trade debts
+€5,502
Accrued charges and deferred income
+€887
Investment (derived)
-€5,788
Investment in fixed assets (net)
-€5,788
Financing
-€75,720
Debts after one year
-€76,431
Current portion of long-term debt
+€711
Cash 2025
€6,471
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,062,870 | €1,029,656 | -€33,214 | -3.1% |
| Fixed assets | 21/28 | €1,044,850 | €1,008,553 | -€36,297 | -3.5% |
| Tangible fixed assets | 22/27 | €1,044,850 | €1,008,553 | -€36,297 | -3.5% |
| Land and buildings | 22 | €1,044,850 | €1,008,553 | -€36,297 | -3.5% |
| Current assets | 29/58 | €18,020 | €21,103 | +€3,083 | +17.1% |
| Amounts receivable within one year | 40/41 | €6,527 | €11,580 | +€5,053 | +77.4% |
| Other amounts receivable | 41 | €6,527 | €11,580 | +€5,053 | +77.4% |
| Cash at bank and in hand | 54/58 | €8,519 | €6,471 | -€2,048 | -24.0% |
| Deferred charges and accrued income | 490/1 | €2,974 | €3,051 | +€77 | +2.6% |
| Total equity and liabilities | 10/49 | €1,062,870 | €1,029,656 | -€33,214 | -3.1% |
| Equity | 10/15 | €361,455 | €397,572 | +€36,116 | +10.0% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Contributions outside capital | 11 | €300,000 | €300,000 | = | 0.0% |
| Other | 1109/19 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,455 | €97,572 | +€36,116 | +58.8% |
| Amounts payable | 17/49 | €701,415 | €632,084 | -€69,331 | -9.9% |
| Amounts payable after more than one year | 17 | €551,431 | €475,000 | -€76,431 | -13.9% |
| Financial debts | 170/4 | €551,431 | €475,000 | -€76,431 | -13.9% |
| Amounts payable within one year | 42/48 | €140,910 | €147,123 | +€6,213 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €75,720 | €76,431 | +€711 | +0.9% |
| Trade debts | 44 | €1,088 | €6,590 | +€5,502 | +506% |
| Suppliers | 440/4 | €1,088 | €6,590 | +€5,502 | +506% |
| Taxes, remuneration and social security | 45 | €15,769 | €15,769 | = | 0.0% |
| Taxes | 450/3 | €15,769 | €15,769 | = | 0.0% |
| Other amounts payable | 47/48 | €48,333 | €48,333 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €9,074 | €9,961 | +€887 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,938 | €42,085 | +€147 | +0.3% |
| Other operating charges | 640/8 | €9,095 | €9,984 | +€889 | +9.8% |
| Gross operating margin | 9900 | €134,199 | €122,421 | -€11,778 | -8.8% |
| Operating profit (loss) | 9901 | €83,166 | €70,353 | -€12,813 | -15.4% |
| Financial charges | 65/66B | €24,079 | €22,998 | -€1,081 | -4.5% |
| Recurring financial charges | 65 | €24,079 | €22,998 | -€1,081 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €59,087 | €47,355 | -€11,732 | -19.9% |
| Income taxes | 67/77 | €15,769 | €11,239 | -€4,530 | -28.7% |
| Profit (loss) for the period | 9904 | €43,318 | €36,116 | -€7,202 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,318 | €36,116 | -€7,202 | -16.6% |
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 18 October 2026 via checked.be.