ARTEVINIMMO: 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.
ARTEVINIMMO
Largest movements
- Tangible fixed assets -€113,681
down €113,681 (-4.8%), from €2.3m to €2.2m
of which Land and buildings: -€95,821
- Stocks and contracts +€77,248
up €77,248 (+459.8%), from €16,801 to €94,048
- Profit (loss) carried forward +€250,688
up €250,688 (+23.0%), from -€1.1m to -€841,125
- Debts after one year -€116,703
down €116,703 (-5.4%), from €2.2m to €2.0m
- Trade debts -€108,116
down €108,116 (-65.8%), from €164,195 to €56,079
- Provisions +€81,698
new in 2025: €81,698
- Current portion of long-term debt -€63,024
down €63,024 (-45.3%), from €139,258 to €76,234
- Taxes -€246,263
down €246,263, from €1,170 to -€245,093
- Staff costs -€159,192
down €159,192 (-53.5%), from €297,409 to €138,216
- Gross operating margin +€132,674
up €132,674 (+66.1%), from €200,845 to €333,519
- Other operating charges -€58,513
down €58,513 (-93.0%), from €62,902 to €4,389
- Depreciation -€17,888
down €17,888 (-11.6%), from €154,110 to €136,222
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 | €2,461,697 | €2,421,226 | -€40,471 | -1.6% |
| Formation expenses | 20 | €21,204 | €9,891 | -€11,313 | -53.4% |
| Fixed assets | 21/28 | €2,389,488 | €2,277,207 | -€112,281 | -4.7% |
| Intangible fixed assets | 21 | €9,277 | €2,777 | -€6,500 | -70.1% |
| Tangible fixed assets | 22/27 | €2,344,998 | €2,231,317 | -€113,681 | -4.8% |
| Land and buildings | 22 | €2,266,012 | €2,170,191 | -€95,821 | -4.2% |
| Plant, machinery and equipment | 23 | €56,614 | €47,955 | -€8,659 | -15.3% |
| Furniture and vehicles | 24 | €22,372 | €13,171 | -€9,201 | -41.1% |
| Financial fixed assets | 28 | €35,213 | €43,113 | +€7,900 | +22.4% |
| Current assets | 29/58 | €51,005 | €134,129 | +€83,123 | +163.0% |
| Stocks and contracts in progress | 3 | €16,801 | €94,048 | +€77,248 | +459.8% |
| Stocks | 30/36 | €16,801 | €94,048 | +€77,248 | +459.8% |
| Amounts receivable within one year | 40/41 | €32,329 | €39,410 | +€7,081 | +21.9% |
| Trade receivables | 40 | €4,700 | €5,235 | +€535 | +11.4% |
| Other amounts receivable | 41 | €27,628 | €34,175 | +€6,546 | +23.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,484 | €671 | -€813 | -54.8% |
| Deferred charges and accrued income | 490/1 | €392 | - | -€392 | |
| Total equity and liabilities | 10/49 | €2,461,697 | €2,421,226 | -€40,471 | -1.6% |
| Equity | 10/15 | -€489,212 | -€238,525 | +€250,688 | +51.2% |
| Contributions | 10/11 | €198,600 | €198,600 | = | 0.0% |
| Revaluation surpluses | 12 | €404,000 | €404,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,091,812 | -€841,125 | +€250,688 | +23.0% |
| Provisions and deferred taxes | 16 | - | €81,698 | +€81,698 | |
| Deferred taxes | 168 | - | €81,698 | +€81,698 | |
| Amounts payable | 17/49 | €2,950,910 | €2,578,053 | -€372,856 | -12.6% |
| Amounts payable after more than one year | 17 | €2,163,503 | €2,046,800 | -€116,703 | -5.4% |
| Financial debts | 170/4 | €2,163,503 | €2,046,800 | -€116,703 | -5.4% |
| Amounts payable within one year | 42/48 | €787,406 | €531,253 | -€256,153 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €139,258 | €76,234 | -€63,024 | -45.3% |
| Financial debts | 43 | €61,443 | - | -€61,443 | |
| Credit institutions | 430/8 | €61,443 | - | -€61,443 | |
| Trade debts | 44 | €164,195 | €56,079 | -€108,116 | -65.8% |
| Suppliers | 440/4 | €164,195 | €56,079 | -€108,116 | -65.8% |
| Taxes, remuneration and social security | 45 | €422,011 | €398,940 | -€23,071 | -5.5% |
| Taxes | 450/3 | €194,247 | €182,386 | -€11,861 | -6.1% |
| Remuneration and social security | 454/9 | €227,764 | €216,554 | -€11,210 | -4.9% |
| Other amounts payable | 47/48 | €500 | - | -€500 | |
| Remuneration, social security and pensions | 62 | €297,409 | €138,216 | -€159,192 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,110 | €136,222 | -€17,888 | -11.6% |
| Other operating charges | 640/8 | €62,902 | €4,389 | -€58,513 | -93.0% |
| Non-recurring operating charges | 66A | €4,563 | €4,563 | = | 0.0% |
| Gross operating margin | 9900 | €200,845 | €333,519 | +€132,674 | +66.1% |
| Operating profit (loss) | 9901 | -€318,138 | €50,129 | +€368,267 | |
| Financial income | 75/76B | €3,930 | €11,499 | +€7,569 | +192.6% |
| Recurring financial income | 75 | €3,930 | €24 | -€3,906 | -99.4% |
| Non-recurring financial income | 76B | €0 | €11,475 | +€11,475 | |
| Financial charges | 65/66B | €67,054 | €56,033 | -€11,021 | -16.4% |
| Recurring financial charges | 65 | €67,054 | €56,033 | -€11,021 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | -€381,262 | €5,595 | +€386,857 | |
| Income taxes | 67/77 | €1,170 | -€245,093 | -€246,263 | |
| Profit (loss) for the period | 9904 | -€382,432 | €250,688 | +€633,120 | |
| Profit (loss) for the period to be appropriated | 9905 | -€382,432 | €250,688 | +€633,120 |
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 30 September 2026 via checked.be.