ARTHEX: 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.
ARTHEX
Largest movements
- Receivables within one year -€6,875
down €6,875 (-38.5%), from €17,846 to €10,970
of which Other amounts receivable: -€6,531
- Short-term financial debts -€15,000
no longer reported in 2025 (was €15,000)
- Reserves +€10,496
up €10,496 (+25.5%), from €41,176 to €51,672
- Trade debts -€1,263
down €1,263 (-97.2%), from €1,299 to €36
- Gross operating margin -€43,705
down €43,705 (-73.1%), from €59,802 to €16,097
- Taxes -€12,010
down €12,010 (-79.0%), from €15,203 to €3,192
- Financial charges -€1,946
down €1,946 (-67.8%), from €2,869 to €924
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 | €79,231 | €72,149 | -€7,082 | -8.9% |
| Fixed assets | 21/28 | €60,000 | €60,000 | = | 0.0% |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €19,231 | €12,149 | -€7,082 | -36.8% |
| Amounts receivable within one year | 40/41 | €17,846 | €10,970 | -€6,875 | -38.5% |
| Trade receivables | 40 | €9,945 | €9,600 | -€345 | -3.5% |
| Other amounts receivable | 41 | €7,901 | €1,370 | -€6,531 | -82.7% |
| Cash at bank and in hand | 54/58 | €1,385 | €1,179 | -€206 | -14.9% |
| Total equity and liabilities | 10/49 | €79,231 | €72,149 | -€7,082 | -8.9% |
| Equity | 10/15 | €43,176 | €53,672 | +€10,496 | +24.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €41,176 | €51,672 | +€10,496 | +25.5% |
| Distributable reserves | 133 | €41,176 | €51,672 | +€10,496 | +25.5% |
| Amounts payable | 17/49 | €36,055 | €18,477 | -€17,578 | -48.8% |
| Amounts payable within one year | 42/48 | €35,432 | €18,477 | -€16,955 | -47.9% |
| Financial debts | 43 | €15,000 | - | -€15,000 | |
| Other loans | 439 | €15,000 | - | -€15,000 | |
| Trade debts | 44 | €1,299 | €36 | -€1,263 | -97.2% |
| Suppliers | 440/4 | €1,299 | €36 | -€1,263 | -97.2% |
| Taxes, remuneration and social security | 45 | €19,133 | €18,441 | -€692 | -3.6% |
| Taxes | 450/3 | €19,133 | €18,441 | -€692 | -3.6% |
| Accrued charges and deferred income | 492/3 | €623 | - | -€623 | |
| Remuneration, social security and pensions | 62 | - | €146 | +€146 | |
| Other operating charges | 640/8 | €823 | €1,340 | +€516 | +62.7% |
| Gross operating margin | 9900 | €59,802 | €16,097 | -€43,705 | -73.1% |
| Operating profit (loss) | 9901 | €58,979 | €14,612 | -€44,367 | -75.2% |
| Financial income | 75/76B | €269 | €1 | -€269 | -99.8% |
| Recurring financial income | 75 | €269 | €1 | -€269 | -99.8% |
| Financial charges | 65/66B | €2,869 | €924 | -€1,946 | -67.8% |
| Recurring financial charges | 65 | €2,869 | €924 | -€1,946 | -67.8% |
| Profit (loss) for the period before taxes | 9903 | €56,378 | €13,689 | -€42,690 | -75.7% |
| Income taxes | 67/77 | €15,203 | €3,192 | -€12,010 | -79.0% |
| Profit (loss) for the period | 9904 | €41,176 | €10,496 | -€30,679 | -74.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,176 | €10,496 | -€30,679 | -74.5% |
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 28 October 2026 via checked.be.