ARTHEAS: 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.
ARTHEAS
Largest movements
- Tangible fixed assets -€19,678
down €19,678 (-5.3%), from €368,884 to €349,206
of which Land and buildings: -€19,558
- Profit (loss) carried forward -€26,804
down €26,804 (-43.9%), from €60,990 to €34,186
- Debts after one year -€19,073
down €19,073 (-10.2%), from €187,132 to €168,059
- Other debts +€10,639
up €10,639 (+17.4%), from €61,045 to €71,683
- Tax, wage and social debts +€7,923
up €7,923 (+114%), from €6,944 to €14,867
of which Remuneration and social security: +€4,250
- Gross operating margin -€18,904
down €18,904 (-72.2%), from €26,187 to €7,283
- Financial charges -€4,531
down €4,531 (-26.0%), from €17,426 to €12,895
- Depreciation -€298
down €298 (-1.5%), from €19,976 to €19,678
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €373,120 | €349,683 | -€23,437 | -6.3% |
| Fixed assets | 21/28 | €368,884 | €349,206 | -€19,678 | -5.3% |
| Tangible fixed assets | 22/27 | €368,884 | €349,206 | -€19,678 | -5.3% |
| Land and buildings | 22 | €368,575 | €349,017 | -€19,558 | -5.3% |
| Furniture and vehicles | 24 | €309 | €189 | -€120 | -38.9% |
| Current assets | 29/58 | €4,236 | €477 | -€3,759 | -88.7% |
| Amounts receivable within one year | 40/41 | €3,427 | - | -€3,427 | |
| Trade receivables | 40 | €3,410 | - | -€3,410 | |
| Other amounts receivable | 41 | €17 | - | -€17 | |
| Deferred charges and accrued income | 490/1 | €809 | €477 | -€332 | -41.0% |
| Total equity and liabilities | 10/49 | €373,120 | €349,683 | -€23,437 | -6.3% |
| Equity | 10/15 | €86,675 | €59,871 | -€26,804 | -30.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,085 | €7,085 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €5,225 | €5,225 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,990 | €34,186 | -€26,804 | -43.9% |
| Amounts payable | 17/49 | €286,445 | €289,812 | +€3,367 | +1.2% |
| Amounts payable after more than one year | 17 | €187,132 | €168,059 | -€19,073 | -10.2% |
| Financial debts | 170/4 | €187,132 | €168,059 | -€19,073 | -10.2% |
| Amounts payable within one year | 42/48 | €99,313 | €121,624 | +€22,311 | +22.5% |
| Current portion of amounts payable after more than one year | 42 | €20,469 | €21,447 | +€977 | +4.8% |
| Financial debts | 43 | €5,021 | €4,908 | -€113 | -2.2% |
| Credit institutions | 430/8 | €5,021 | €4,908 | -€113 | -2.2% |
| Trade debts | 44 | €5,834 | €8,719 | +€2,885 | +49.4% |
| Suppliers | 440/4 | €5,834 | €8,719 | +€2,885 | +49.4% |
| Taxes, remuneration and social security | 45 | €6,944 | €14,867 | +€7,923 | +114% |
| Taxes | 450/3 | €6,944 | €10,617 | +€3,673 | +52.9% |
| Remuneration and social security | 454/9 | - | €4,250 | +€4,250 | |
| Other amounts payable | 47/48 | €61,045 | €71,683 | +€10,639 | +17.4% |
| Accrued charges and deferred income | 492/3 | - | €129 | +€129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,976 | €19,678 | -€298 | -1.5% |
| Other operating charges | 640/8 | €897 | €1,061 | +€163 | +18.2% |
| Gross operating margin | 9900 | €26,187 | €7,283 | -€18,904 | -72.2% |
| Operating profit (loss) | 9901 | €5,314 | -€13,456 | -€18,770 | |
| Financial income | 75/76B | €0 | €69 | +€69 | +114,583% |
| Recurring financial income | 75 | €0 | €69 | +€69 | +114,583% |
| Financial charges | 65/66B | €17,426 | €12,895 | -€4,531 | -26.0% |
| Recurring financial charges | 65 | €17,426 | €12,895 | -€4,531 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,112 | -€26,282 | -€14,170 | -117% |
| Income taxes | 67/77 | €689 | €522 | -€167 | -24.2% |
| Profit (loss) for the period | 9904 | -€12,801 | -€26,804 | -€14,003 | -109% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,801 | -€26,804 | -€14,003 | -109% |
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 19 October 2026 via checked.be.