ARTGUISO: 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.
ARTGUISO
Largest movements
- Receivables within one year +€25,911
up €25,911 (+124.0%), from €20,895 to €46,806
of which Trade receivables: +€20,000
- Tangible fixed assets -€10,345
down €10,345 (-2.6%), from €403,191 to €392,846
of which Land and buildings: -€10,818
- Cash -€4,949
down €4,949 (-23.5%), from €21,038 to €16,089
mainly Receivables within one year (-€25,911) and Deferred charges and accrued income (-€1,693)
- Profit (loss) carried forward +€5,770
up €5,770 (+14.4%), from -€39,981 to -€34,212
- Gross operating margin -€2,802
down €2,802 (-6.7%), from €41,657 to €38,855
- Financial charges +€1,848
up €1,848 (+12.4%), from €14,865 to €16,713
- Financial income +€456
new in 2025: €456
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 | €462,288 | €474,598 | +€12,310 | +2.7% |
| Fixed assets | 21/28 | €403,191 | €392,846 | -€10,345 | -2.6% |
| Tangible fixed assets | 22/27 | €403,191 | €392,846 | -€10,345 | -2.6% |
| Land and buildings | 22 | €400,965 | €390,147 | -€10,818 | -2.7% |
| Furniture and vehicles | 24 | €2,226 | €2,700 | +€474 | +21.3% |
| Current assets | 29/58 | €59,097 | €81,752 | +€22,654 | +38.3% |
| Amounts receivable within one year | 40/41 | €20,895 | €46,806 | +€25,911 | +124.0% |
| Trade receivables | 40 | €15,000 | €35,000 | +€20,000 | +133.3% |
| Other amounts receivable | 41 | €5,895 | €11,806 | +€5,911 | +100.3% |
| Cash at bank and in hand | 54/58 | €21,038 | €16,089 | -€4,949 | -23.5% |
| Deferred charges and accrued income | 490/1 | €17,164 | €18,857 | +€1,693 | +9.9% |
| Total equity and liabilities | 10/49 | €462,288 | €474,598 | +€12,310 | +2.7% |
| Equity | 10/15 | €2,519 | €8,288 | +€5,770 | +229.1% |
| Contributions | 10/11 | €42,500 | €42,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,981 | -€34,212 | +€5,770 | +14.4% |
| Amounts payable | 17/49 | €459,770 | €466,310 | +€6,540 | +1.4% |
| Amounts payable after more than one year | 17 | €433,382 | €435,054 | +€1,671 | +0.4% |
| Financial debts | 170/4 | €318,978 | €297,553 | -€21,426 | -6.7% |
| Other amounts payable | 178/9 | €114,404 | €137,501 | +€23,097 | +20.2% |
| Amounts payable within one year | 42/48 | €21,955 | €23,377 | +€1,422 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €20,603 | €21,426 | +€822 | +4.0% |
| Trade debts | 44 | - | €573 | +€573 | |
| Suppliers | 440/4 | - | €573 | +€573 | |
| Taxes, remuneration and social security | 45 | €1,351 | €1,378 | +€27 | +2.0% |
| Taxes | 450/3 | €1,351 | €1,378 | +€27 | +2.0% |
| Accrued charges and deferred income | 492/3 | €4,433 | €7,879 | +€3,447 | +77.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,200 | €11,609 | +€409 | +3.7% |
| Other operating charges | 640/8 | €4,140 | €4,398 | +€258 | +6.2% |
| Gross operating margin | 9900 | €41,657 | €38,855 | -€2,802 | -6.7% |
| Operating profit (loss) | 9901 | €26,318 | €22,848 | -€3,469 | -13.2% |
| Financial income | 75/76B | - | €456 | +€456 | |
| Recurring financial income | 75 | - | €456 | +€456 | |
| Financial charges | 65/66B | €14,865 | €16,713 | +€1,848 | +12.4% |
| Recurring financial charges | 65 | €14,865 | €16,713 | +€1,848 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | €11,453 | €6,591 | -€4,862 | -42.4% |
| Income taxes | 67/77 | €557 | €821 | +€264 | +47.4% |
| Profit (loss) for the period | 9904 | €10,896 | €5,770 | -€5,126 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,896 | €5,770 | -€5,126 | -47.0% |
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 12 October 2026 via checked.be.