ArteZ: 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.
ArteZ
Largest movements
- Cash +€433,655
up €433,655 (+52.9%), from €819,006 to €1.3m
mainly Net result for the year (+€996,745) and Receivables within one year (+€211,454)
- Receivables within one year -€211,454
down €211,454 (-76.6%), from €276,097 to €64,643
of which Other amounts receivable: -€190,547
- Tangible fixed assets -€42,896
down €42,896 (-19.5%), from €219,832 to €176,935
of which Furniture and vehicles: -€39,420
- Trade debts -€213,391
down €213,391 (-68.5%), from €311,371 to €97,980
- Advances received +€168,155
up €168,155 (+103%), from €162,956 to €331,110
- Other debts +€106,831
up €106,831 (+13.2%), from €808,559 to €915,389
- Reserves +€96,745
up €96,745 (+5.4%), from €1.8m to €1.9m
of which Distributable reserves: +€96,745
- Staff costs -€65,036
down €65,036 (-29.8%), from €218,217 to €153,182
- Gross operating margin +€37,723
up €37,723 (+3.1%), from €1.2m to €1.3m
- Financial income -€17,242
down €17,242 (-42.8%), from €40,252 to €23,010
- Other operating charges +€15,285
up €15,285 (+260%), from €5,872 to €21,158
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,113,761 | €3,293,142 | +€179,381 | +5.8% |
| Fixed assets | 21/28 | €219,832 | €176,935 | -€42,896 | -19.5% |
| Tangible fixed assets | 22/27 | €219,832 | €176,935 | -€42,896 | -19.5% |
| Plant, machinery and equipment | 23 | - | €3,514 | +€3,514 | |
| Furniture and vehicles | 24 | €181,538 | €142,118 | -€39,420 | -21.7% |
| Other tangible fixed assets | 26 | €38,293 | €31,303 | -€6,991 | -18.3% |
| Current assets | 29/58 | €2,893,929 | €3,116,206 | +€222,277 | +7.7% |
| Amounts receivable within one year | 40/41 | €276,097 | €64,643 | -€211,454 | -76.6% |
| Trade receivables | 40 | €43,480 | €22,574 | -€20,907 | -48.1% |
| Other amounts receivable | 41 | €232,616 | €42,069 | -€190,547 | -81.9% |
| Current investments | 50/53 | €1,795,113 | €1,795,113 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €819,006 | €1,252,662 | +€433,655 | +52.9% |
| Deferred charges and accrued income | 490/1 | €3,713 | €3,788 | +€75 | +2.0% |
| Total equity and liabilities | 10/49 | €3,113,761 | €3,293,142 | +€179,381 | +5.8% |
| Equity | 10/15 | €1,815,424 | €1,912,169 | +€96,745 | +5.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,796,874 | €1,893,619 | +€96,745 | +5.4% |
| Tax-exempt reserves | 132 | €299 | €299 | = | 0.0% |
| Distributable reserves | 133 | €1,796,575 | €1,893,320 | +€96,745 | +5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,298,337 | €1,380,973 | +€82,636 | +6.4% |
| Amounts payable within one year | 42/48 | €1,298,247 | €1,359,669 | +€61,422 | +4.7% |
| Trade debts | 44 | €311,371 | €97,980 | -€213,391 | -68.5% |
| Suppliers | 440/4 | €311,371 | €97,980 | -€213,391 | -68.5% |
| Advances received on contracts in progress | 46 | €162,956 | €331,110 | +€168,155 | +103% |
| Taxes, remuneration and social security | 45 | €15,362 | €15,190 | -€172 | -1.1% |
| Taxes | 450/3 | €25 | €0 | -€25 | -100% |
| Remuneration and social security | 454/9 | €15,337 | €15,190 | -€147 | -1.0% |
| Other amounts payable | 47/48 | €808,559 | €915,389 | +€106,831 | +13.2% |
| Accrued charges and deferred income | 492/3 | €90 | €21,304 | +€21,214 | +23,626% |
| Non-recurring operating income | 76A | €2,674 | €710 | -€1,964 | -73.4% |
| Remuneration, social security and pensions | 62 | €218,217 | €153,182 | -€65,036 | -29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,790 | €51,952 | +€10,161 | +24.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,872 | €21,158 | +€15,285 | +260% |
| Gross operating margin | 9900 | €1,214,867 | €1,252,590 | +€37,723 | +3.1% |
| Operating profit (loss) | 9901 | €948,987 | €1,026,300 | +€77,312 | +8.1% |
| Financial income | 75/76B | €40,252 | €23,010 | -€17,242 | -42.8% |
| Recurring financial income | 75 | €40,252 | €23,010 | -€17,242 | -42.8% |
| Financial charges | 65/66B | €2,478 | €2,224 | -€254 | -10.3% |
| Recurring financial charges | 65 | €2,478 | €2,224 | -€254 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €986,761 | €1,047,086 | +€60,324 | +6.1% |
| Income taxes | 67/77 | €47,347 | €50,341 | +€2,994 | +6.3% |
| Profit (loss) for the period | 9904 | €939,414 | €996,745 | +€57,331 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €939,414 | €996,745 | +€57,331 | +6.1% |
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 15 October 2026 via checked.be.