ArtFlo: 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.
ArtFlo
Largest movements
- Receivables within one year +€781,330
up €781,330 (+81.7%), from €956,184 to €1.7m
of which Trade receivables: +€652,462
- Intangible fixed assets +€378,326
up €378,326 (+131.9%), from €286,772 to €665,098
- Stocks and contracts -€265,575
down €265,575 (-26.4%), from €1.0m to €739,658
- Tangible fixed assets +€95,645
up €95,645 (+203.0%), from €47,112 to €142,757
of which Other tangible fixed assets: +€62,286
- Other debts +€626,301
up €626,301 (+34.4%), from €1.8m to €2.4m
- Profit (loss) carried forward +€274,182
up €274,182 (+974.2%), from €28,145 to €302,327
- Tax, wage and social debts +€50,401
up €50,401 (+458.5%), from €10,992 to €61,393
of which Remuneration and social security: +€30,516
- Gross operating margin +€242,160
up €242,160 (+154.1%), from €157,106 to €399,265
- Staff costs +€139,133
up €139,133 (+123.3%), from €112,862 to €251,996
- Depreciation +€28,641
up €28,641 (+62.9%), from €45,518 to €74,160
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 | €2,753,197 | €3,727,560 | +€974,362 | +35.4% |
| Fixed assets | 21/28 | €766,103 | €1,240,073 | +€473,971 | +61.9% |
| Intangible fixed assets | 21 | €286,772 | €665,098 | +€378,326 | +131.9% |
| Tangible fixed assets | 22/27 | €47,112 | €142,757 | +€95,645 | +203.0% |
| Plant, machinery and equipment | 23 | €1,535 | €43,745 | +€42,210 | +2749.7% |
| Furniture and vehicles | 24 | €45,577 | €36,726 | -€8,850 | -19.4% |
| Other tangible fixed assets | 26 | - | €62,286 | +€62,286 | |
| Financial fixed assets | 28 | €432,219 | €432,219 | = | 0.0% |
| Current assets | 29/58 | €1,987,095 | €2,487,486 | +€500,391 | +25.2% |
| Stocks and contracts in progress | 3 | €1,005,234 | €739,658 | -€265,575 | -26.4% |
| Stocks | 30/36 | €1,005,234 | €739,658 | -€265,575 | -26.4% |
| Amounts receivable within one year | 40/41 | €956,184 | €1,737,514 | +€781,330 | +81.7% |
| Trade receivables | 40 | €297,779 | €950,241 | +€652,462 | +219.1% |
| Other amounts receivable | 41 | €658,404 | €787,273 | +€128,869 | +19.6% |
| Cash at bank and in hand | 54/58 | €24,242 | €5,138 | -€19,104 | -78.8% |
| Deferred charges and accrued income | 490/1 | €1,435 | €5,176 | +€3,740 | +260.6% |
| Total equity and liabilities | 10/49 | €2,753,197 | €3,727,560 | +€974,362 | +35.4% |
| Equity | 10/15 | €36,200 | €330,787 | +€294,587 | +813.8% |
| Contributions | 10/11 | €6,200 | €24,750 | +€18,550 | +299.2% |
| Reserves | 13 | €1,855 | €3,710 | +€1,855 | +100.0% |
| Distributable reserves | 133 | €1,855 | €3,710 | +€1,855 | +100.0% |
| Profit (loss) carried forward | 14 | €28,145 | €302,327 | +€274,182 | +974.2% |
| Amounts payable | 17/49 | €2,716,998 | €3,396,773 | +€679,775 | +25.0% |
| Amounts payable after more than one year | 17 | €398,950 | €381,160 | -€17,790 | -4.5% |
| Financial debts | 170/4 | €398,950 | €381,160 | -€17,790 | -4.5% |
| Amounts payable within one year | 42/48 | €2,314,548 | €2,985,264 | +€670,716 | +29.0% |
| Current portion of amounts payable after more than one year | 42 | €203,615 | €206,155 | +€2,540 | +1.2% |
| Financial debts | 43 | €49,378 | €48,479 | -€899 | -1.8% |
| Credit institutions | 430/8 | €49,378 | €48,479 | -€899 | -1.8% |
| Trade debts | 44 | €229,090 | €221,463 | -€7,628 | -3.3% |
| Suppliers | 440/4 | €229,090 | €221,463 | -€7,628 | -3.3% |
| Taxes, remuneration and social security | 45 | €10,992 | €61,393 | +€50,401 | +458.5% |
| Taxes | 450/3 | €0 | €19,885 | +€19,885 | |
| Remuneration and social security | 454/9 | €10,992 | €41,508 | +€30,516 | +277.6% |
| Other amounts payable | 47/48 | €1,821,473 | €2,447,774 | +€626,301 | +34.4% |
| Accrued charges and deferred income | 492/3 | €3,500 | €30,350 | +€26,850 | +767.1% |
| Non-recurring operating income | 76A | - | €46,831 | +€46,831 | |
| Remuneration, social security and pensions | 62 | €112,862 | €251,996 | +€139,133 | +123.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,518 | €74,160 | +€28,641 | +62.9% |
| Other operating charges | 640/8 | €508 | €159 | -€349 | -68.8% |
| Non-recurring operating charges | 66A | €496 | €3,898 | +€3,402 | +685.7% |
| Gross operating margin | 9900 | €157,106 | €399,265 | +€242,160 | +154.1% |
| Operating profit (loss) | 9901 | -€2,279 | €69,053 | +€71,332 | |
| Financial income | 75/76B | €389 | €1,233 | +€844 | +217.0% |
| Recurring financial income | 75 | €389 | €1,233 | +€844 | +217.0% |
| Financial charges | 65/66B | €26,868 | €30,263 | +€3,395 | +12.6% |
| Recurring financial charges | 65 | €26,868 | €30,263 | +€3,395 | +12.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,758 | €40,023 | +€68,781 | |
| Profit (loss) for the period | 9904 | -€28,758 | €40,023 | +€68,781 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,758 | €40,023 | +€68,781 |
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 10 October 2026 via checked.be.