ARTH CONSULTING: 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.
ARTH CONSULTING
Largest movements
- Current investments -€178,115
down €178,115 (-16.3%), from €1.1m to €916,555
- Receivables within one year -€69,980
down €69,980 (-18.9%), from €369,902 to €299,922
of which Trade receivables: -€65,966
- Tangible fixed assets +€66,006
up €66,006 (+71.0%), from €93,017 to €159,023
of which Assets under construction and advance payments: +€66,053
- Cash +€32,118
up €32,118 (+16.5%), from €194,430 to €226,548
mainly Current investments (+€178,115) and Net result for the year (+€102,627)
- Trade debts -€206,881
down €206,881 (-29.2%), from €707,413 to €500,532
- Reserves +€102,627
up €102,627 (+15.0%), from €684,137 to €786,764
of which Distributable reserves: +€102,627
- Other debts -€41,675
down €41,675 (-13.9%), from €299,850 to €258,175
- Gross operating margin -€18,745
down €18,745 (-11.5%), from €162,846 to €144,101
- Financial income +€8,077
up €8,077 (+156%), from €5,179 to €13,256
- Taxes +€2,018
up €2,018 (+4.0%), from €50,714 to €52,733
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 | €1,753,838 | €1,603,867 | -€149,971 | -8.6% |
| Fixed assets | 21/28 | €93,017 | €159,023 | +€66,006 | +71.0% |
| Tangible fixed assets | 22/27 | €93,017 | €159,023 | +€66,006 | +71.0% |
| Land and buildings | 22 | €56,617 | €56,617 | = | 0.0% |
| Furniture and vehicles | 24 | €46 | €0 | -€46 | -100% |
| Assets under construction and advance payments | 27 | €36,354 | €102,407 | +€66,053 | +182% |
| Current assets | 29/58 | €1,660,821 | €1,444,844 | -€215,977 | -13.0% |
| Amounts receivable within one year | 40/41 | €369,902 | €299,922 | -€69,980 | -18.9% |
| Trade receivables | 40 | €351,433 | €285,467 | -€65,966 | -18.8% |
| Other amounts receivable | 41 | €18,469 | €14,454 | -€4,015 | -21.7% |
| Current investments | 50/53 | €1,094,670 | €916,555 | -€178,115 | -16.3% |
| Cash at bank and in hand | 54/58 | €194,430 | €226,548 | +€32,118 | +16.5% |
| Deferred charges and accrued income | 490/1 | €1,819 | €1,819 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €1,753,838 | €1,603,867 | -€149,971 | -8.6% |
| Equity | 10/15 | €688,615 | €791,242 | +€102,627 | +14.9% |
| Contributions | 10/11 | €4,478 | €4,478 | = | 0.0% |
| Reserves | 13 | €684,137 | €786,764 | +€102,627 | +15.0% |
| Tax-exempt reserves | 132 | €101,754 | €101,754 | = | 0.0% |
| Distributable reserves | 133 | €582,383 | €685,010 | +€102,627 | +17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €53,918 | €53,918 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €20,000 | €20,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €20,000 | €20,000 | = | 0.0% |
| Deferred taxes | 168 | €33,918 | €33,918 | = | 0.0% |
| Amounts payable | 17/49 | €1,011,305 | €758,707 | -€252,598 | -25.0% |
| Amounts payable within one year | 42/48 | €1,011,305 | €758,707 | -€252,598 | -25.0% |
| Financial debts | 43 | €4,042 | €0 | -€4,042 | -100% |
| Credit institutions | 430/8 | €4,042 | €0 | -€4,042 | -100% |
| Trade debts | 44 | €707,413 | €500,532 | -€206,881 | -29.2% |
| Suppliers | 440/4 | €707,413 | €500,532 | -€206,881 | -29.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €299,850 | €258,175 | -€41,675 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268 | €46 | -€221 | -82.7% |
| Other operating charges | 640/8 | €0 | - | = | |
| Gross operating margin | 9900 | €162,846 | €144,101 | -€18,745 | -11.5% |
| Operating profit (loss) | 9901 | €162,578 | €144,055 | -€18,524 | -11.4% |
| Financial income | 75/76B | €5,179 | €13,256 | +€8,077 | +156% |
| Recurring financial income | 75 | €5,179 | €13,256 | +€8,077 | +156% |
| Financial charges | 65/66B | €2,272 | €1,951 | -€321 | -14.1% |
| Recurring financial charges | 65 | €2,272 | €1,951 | -€321 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €165,485 | €155,360 | -€10,126 | -6.1% |
| Income taxes | 67/77 | €50,714 | €52,733 | +€2,018 | +4.0% |
| Profit (loss) for the period | 9904 | €114,771 | €102,627 | -€12,144 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €114,771 | €102,627 | -€12,144 | -10.6% |
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 21 October 2026 via checked.be.