ARTHOLOGY: 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.
ARTHOLOGY
Largest movements
- Current investments +€43,000
up €43,000 (+91.5%), from €47,000 to €90,000
- Receivables within one year -€9,335
down €9,335 (-27.2%), from €34,316 to €24,981
of which Trade receivables: -€7,726
- Tangible fixed assets -€8,763
down €8,763 (-19.3%), from €45,513 to €36,750
- Reserves +€29,096
up €29,096 (+40.9%), from €71,145 to €100,241
- Debts after one year -€7,880
down €7,880 (-28.6%), from €27,558 to €19,678
- Tax, wage and social debts +€3,034
up €3,034, from €0 to €3,034
- Profit (loss) carried forward +€1,931
up €1,931 (+6.6%), from €29,096 to €31,027
- Gross operating margin +€5,295
up €5,295 (+11.3%), from €46,656 to €51,951
- Depreciation +€2,673
up €2,673 (+32.2%), from €8,310 to €10,983
- Taxes +€1,142
up €1,142 (+14.2%), from €8,038 to €9,180
- Financial income +€704
up €704 (+154%), from €456 to €1,161
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 | €144,479 | €170,882 | +€26,403 | +18.3% |
| Fixed assets | 21/28 | €45,513 | €36,750 | -€8,763 | -19.3% |
| Tangible fixed assets | 22/27 | €45,513 | €36,750 | -€8,763 | -19.3% |
| Furniture and vehicles | 24 | €45,513 | €36,750 | -€8,763 | -19.3% |
| Current assets | 29/58 | €98,966 | €134,132 | +€35,166 | +35.5% |
| Amounts receivable within one year | 40/41 | €34,316 | €24,981 | -€9,335 | -27.2% |
| Trade receivables | 40 | €32,703 | €24,977 | -€7,726 | -23.6% |
| Other amounts receivable | 41 | €1,613 | €5 | -€1,609 | -99.7% |
| Current investments | 50/53 | €47,000 | €90,000 | +€43,000 | +91.5% |
| Cash at bank and in hand | 54/58 | €16,446 | €17,872 | +€1,425 | +8.7% |
| Deferred charges and accrued income | 490/1 | €1,204 | €1,280 | +€76 | +6.3% |
| Total equity and liabilities | 10/49 | €144,479 | €170,882 | +€26,403 | +18.3% |
| Equity | 10/15 | €106,241 | €137,268 | +€31,027 | +29.2% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €71,145 | €100,241 | +€29,096 | +40.9% |
| Distributable reserves | 133 | €71,145 | €100,241 | +€29,096 | +40.9% |
| Profit (loss) carried forward | 14 | €29,096 | €31,027 | +€1,931 | +6.6% |
| Amounts payable | 17/49 | €38,238 | €33,614 | -€4,624 | -12.1% |
| Amounts payable after more than one year | 17 | €27,558 | €19,678 | -€7,880 | -28.6% |
| Financial debts | 170/4 | €27,558 | €19,678 | -€7,880 | -28.6% |
| Amounts payable within one year | 42/48 | €10,681 | €13,936 | +€3,255 | +30.5% |
| Current portion of amounts payable after more than one year | 42 | €7,566 | €7,880 | +€313 | +4.1% |
| Trade debts | 44 | €2,994 | €2,875 | -€119 | -4.0% |
| Suppliers | 440/4 | €2,994 | €2,875 | -€119 | -4.0% |
| Taxes, remuneration and social security | 45 | €0 | €3,034 | +€3,034 | |
| Taxes | 450/3 | €0 | €3,034 | +€3,034 | |
| Other amounts payable | 47/48 | €120 | €147 | +€27 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,310 | €10,983 | +€2,673 | +32.2% |
| Other operating charges | 640/8 | €557 | €495 | -€62 | -11.1% |
| Gross operating margin | 9900 | €46,656 | €51,951 | +€5,295 | +11.3% |
| Operating profit (loss) | 9901 | €37,788 | €40,472 | +€2,684 | +7.1% |
| Financial income | 75/76B | €456 | €1,161 | +€704 | +154% |
| Recurring financial income | 75 | €456 | €1,161 | +€704 | +154% |
| Financial charges | 65/66B | €1,110 | €1,425 | +€315 | +28.4% |
| Recurring financial charges | 65 | €1,110 | €1,425 | +€315 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €37,135 | €40,208 | +€3,073 | +8.3% |
| Income taxes | 67/77 | €8,038 | €9,180 | +€1,142 | +14.2% |
| Profit (loss) for the period | 9904 | €29,096 | €31,027 | +€1,931 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,096 | €31,027 | +€1,931 | +6.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.