ARTEX: 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.
ARTEX
Largest movements
- Cash -€29,115
down €29,115 (-10.6%), from €273,934 to €244,819
mainly Net result for the year (-€49,402) and Investment in fixed assets (net) (-€40,280)
- Receivables within one year -€17,109
down €17,109 (-6.9%), from €248,382 to €231,273
of which Other amounts receivable: -€18,072
- Tangible fixed assets +€12,888
up €12,888 (+11.7%), from €110,213 to €123,101
of which Land and buildings: +€16,277
- Profit (loss) carried forward -€49,402
down €49,402 (-45.8%), from €107,763 to €58,361
- Trade debts -€40,178
down €40,178 (-34.4%), from €116,956 to €76,779
- Advances received +€37,725
up €37,725 (+110%), from €34,332 to €72,056
- Debts after one year +€17,406
up €17,406 (+145%), from €12,023 to €29,429
- Tax, wage and social debts -€7,069
down €7,069 (-6.6%), from €106,394 to €99,325
of which Taxes: -€10,519
- Gross operating margin -€38,632
down €38,632 (-6.1%), from €628,683 to €590,052
- Write-downs +€11,379
new in 2025: €11,379
- Staff costs +€7,949
up €7,949 (+1.4%), from €573,125 to €581,074
- Taxes -€7,649
down €7,649 (-85.8%), from €8,911 to €1,262
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 | €691,756 | €655,947 | -€35,810 | -5.2% |
| Fixed assets | 21/28 | €110,244 | €123,132 | +€12,888 | +11.7% |
| Tangible fixed assets | 22/27 | €110,213 | €123,101 | +€12,888 | +11.7% |
| Land and buildings | 22 | €88,093 | €104,370 | +€16,277 | +18.5% |
| Plant, machinery and equipment | 23 | €13,269 | €15,701 | +€2,432 | +18.3% |
| Furniture and vehicles | 24 | €8,852 | €3,030 | -€5,822 | -65.8% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €31 | €31 | = | 0.0% |
| Current assets | 29/58 | €581,512 | €532,815 | -€48,697 | -8.4% |
| Stocks and contracts in progress | 3 | €48,008 | €48,464 | +€456 | +0.9% |
| Stocks | 30/36 | €1,715 | €1,148 | -€567 | -33.1% |
| Contracts in progress | 37 | €46,294 | €47,316 | +€1,023 | +2.2% |
| Amounts receivable within one year | 40/41 | €248,382 | €231,273 | -€17,109 | -6.9% |
| Trade receivables | 40 | €224,110 | €225,073 | +€963 | +0.4% |
| Other amounts receivable | 41 | €24,272 | €6,200 | -€18,072 | -74.5% |
| Cash at bank and in hand | 54/58 | €273,934 | €244,819 | -€29,115 | -10.6% |
| Deferred charges and accrued income | 490/1 | €11,187 | €8,259 | -€2,928 | -26.2% |
| Total equity and liabilities | 10/49 | €691,756 | €655,947 | -€35,810 | -5.2% |
| Equity | 10/15 | €416,166 | €366,764 | -€49,402 | -11.9% |
| Contributions | 10/11 | €280,000 | €280,000 | = | 0.0% |
| Capital | 10 | €280,000 | €280,000 | = | 0.0% |
| Issued capital | 100 | €280,000 | €280,000 | = | 0.0% |
| Reserves | 13 | €28,404 | €28,404 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,000 | €28,000 | = | 0.0% |
| Legal reserve | 130 | €28,000 | €28,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €404 | €404 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,763 | €58,361 | -€49,402 | -45.8% |
| Amounts payable | 17/49 | €275,590 | €289,183 | +€13,592 | +4.9% |
| Amounts payable after more than one year | 17 | €12,023 | €29,429 | +€17,406 | +145% |
| Financial debts | 170/4 | €12,023 | €29,429 | +€17,406 | +145% |
| Amounts payable within one year | 42/48 | €263,567 | €259,753 | -€3,814 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €5,885 | €11,594 | +€5,709 | +97.0% |
| Trade debts | 44 | €116,956 | €76,779 | -€40,178 | -34.4% |
| Suppliers | 440/4 | €116,956 | €76,779 | -€40,178 | -34.4% |
| Advances received on contracts in progress | 46 | €34,332 | €72,056 | +€37,725 | +110% |
| Taxes, remuneration and social security | 45 | €106,394 | €99,325 | -€7,069 | -6.6% |
| Taxes | 450/3 | €20,534 | €10,015 | -€10,519 | -51.2% |
| Remuneration and social security | 454/9 | €85,860 | €89,310 | +€3,450 | +4.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €573,125 | €581,074 | +€7,949 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,580 | €27,392 | -€1,188 | -4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,379 | +€11,379 | |
| Other operating charges | 640/8 | €14,127 | €14,841 | +€714 | +5.1% |
| Non-recurring operating charges | 66A | - | €728 | +€728 | |
| Gross operating margin | 9900 | €628,683 | €590,052 | -€38,632 | -6.1% |
| Operating profit (loss) | 9901 | €12,852 | -€45,362 | -€58,213 | |
| Financial income | 75/76B | €504 | €826 | +€322 | +63.8% |
| Recurring financial income | 75 | €504 | €826 | +€322 | +63.8% |
| Financial charges | 65/66B | €3,976 | €3,604 | -€372 | -9.4% |
| Recurring financial charges | 65 | €3,976 | €3,604 | -€372 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €9,380 | -€48,140 | -€57,520 | |
| Income taxes | 67/77 | €8,911 | €1,262 | -€7,649 | -85.8% |
| Profit (loss) for the period | 9904 | €468 | -€49,402 | -€49,870 | |
| Profit (loss) for the period to be appropriated | 9905 | €468 | -€49,402 | -€49,870 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.