ARTHI: what changed
Two fiscal 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.
ARTHI
Largest movements
- Tangible fixed assets -€25,864
down €25,864 (-16.0%), from €161,782 to €135,918
of which Furniture and vehicles: -€16,183
- Receivables within one year -€8,810
down €8,810 (-12.7%), from €69,389 to €60,579
of which Trade receivables: -€7,910
- Short-term financial debts -€25,855
down €25,855 (-42.5%), from €60,876 to €35,021
of which Credit institutions: -€25,849
- Other debts +€10,073
up €10,073 (+120.0%), from €8,393 to €18,466
- Current portion of long-term debt -€10,025
down €10,025 (-54.2%), from €18,490 to €8,465
- Debts after one year -€8,531
down €8,531 (-42.7%), from €19,972 to €11,441
- Reserves -€6,973
down €6,973 (-6.5%), from €107,694 to €100,721
- Gross operating margin -€8,557
down €8,557 (-17.6%), from €48,702 to €40,145
- Taxes +€4,499
up €4,499 (+321.1%), from €1,401 to €5,900
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 | €234,547 | €200,633 | -€33,914 | -14.5% |
| Fixed assets | 21/28 | €162,237 | €136,387 | -€25,851 | -15.9% |
| Tangible fixed assets | 22/27 | €161,782 | €135,918 | -€25,864 | -16.0% |
| Land and buildings | 22 | €110,700 | €103,610 | -€7,090 | -6.4% |
| Plant, machinery and equipment | 23 | €452 | - | -€452 | |
| Furniture and vehicles | 24 | €47,595 | €31,412 | -€16,183 | -34.0% |
| Leasing and similar rights | 25 | €3,035 | €897 | -€2,139 | -70.5% |
| Financial fixed assets | 28 | €455 | €468 | +€13 | +2.8% |
| Current assets | 29/58 | €72,309 | €64,246 | -€8,063 | -11.2% |
| Stocks and contracts in progress | 3 | €1,700 | €1,700 | = | 0.0% |
| Stocks | 30/36 | €1,700 | €1,700 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €69,389 | €60,579 | -€8,810 | -12.7% |
| Trade receivables | 40 | €60,387 | €52,477 | -€7,910 | -13.1% |
| Other amounts receivable | 41 | €9,002 | €8,102 | -€900 | -10.0% |
| Cash at bank and in hand | 54/58 | €1,220 | €930 | -€290 | -23.8% |
| Deferred charges and accrued income | 490/1 | - | €1,037 | +€1,037 | |
| Total equity and liabilities | 10/49 | €234,547 | €200,633 | -€33,914 | -14.5% |
| Equity | 10/15 | €113,900 | €106,927 | -€6,973 | -6.1% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €107,694 | €100,721 | -€6,973 | -6.5% |
| Distributable reserves | 133 | €107,694 | €100,721 | -€6,973 | -6.5% |
| Amounts payable | 17/49 | €120,647 | €93,706 | -€26,941 | -22.3% |
| Amounts payable after more than one year | 17 | €19,972 | €11,441 | -€8,531 | -42.7% |
| Financial debts | 170/4 | €19,972 | €11,441 | -€8,531 | -42.7% |
| Amounts payable within one year | 42/48 | €100,675 | €82,265 | -€18,410 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €18,490 | €8,465 | -€10,025 | -54.2% |
| Financial debts | 43 | €60,876 | €35,021 | -€25,855 | -42.5% |
| Credit institutions | 430/8 | €59,564 | €33,715 | -€25,849 | -43.4% |
| Other loans | 439 | €1,312 | €1,307 | -€5 | -0.4% |
| Trade debts | 44 | €8,591 | €13,339 | +€4,748 | +55.3% |
| Suppliers | 440/4 | €5,234 | €9,982 | +€4,748 | +90.7% |
| Bills of exchange payable | 441 | €3,357 | €3,357 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,325 | €6,974 | +€2,649 | +61.3% |
| Taxes | 450/3 | €4,325 | €6,974 | +€2,649 | +61.3% |
| Other amounts payable | 47/48 | €8,393 | €18,466 | +€10,073 | +120.0% |
| Non-recurring operating income | 76A | €1 | - | -€1 | |
| Remuneration, social security and pensions | 62 | -€46 | - | +€46 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,168 | €25,864 | -€304 | -1.2% |
| Other operating charges | 640/8 | €784 | €613 | -€170 | -21.7% |
| Gross operating margin | 9900 | €48,702 | €40,145 | -€8,557 | -17.6% |
| Operating profit (loss) | 9901 | €21,798 | €13,668 | -€8,129 | -37.3% |
| Financial charges | 65/66B | €9,203 | €9,146 | -€57 | -0.6% |
| Recurring financial charges | 65 | €9,203 | €9,109 | -€94 | -1.0% |
| Non-recurring financial charges | 66B | - | €37 | +€37 | |
| Profit (loss) for the period before taxes | 9903 | €12,595 | €4,522 | -€8,072 | -64.1% |
| Income taxes | 67/77 | €1,401 | €5,900 | +€4,499 | +321.1% |
| Profit (loss) for the period | 9904 | €11,193 | -€1,378 | -€12,571 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,193 | -€1,378 | -€12,571 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.