ARTHUGAS: 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.
ARTHUGAS
Largest movements
- Receivables within one year -€547,457
down €547,457 (-97.4%), from €562,148 to €14,691
- Cash +€475,272
up €475,272 (+109.6%), from €433,486 to €908,758
mainly Receivables within one year (+€547,457) and Net result for the year (+€542,741)
- Tangible fixed assets -€37,847
down €37,847 (-13.8%), from €275,115 to €237,268
of which Furniture and vehicles: -€32,807
- Debts after one year -€163,515
down €163,515 (-13.4%), from €1.2m to €1.1m
- Tax, wage and social debts +€54,338
up €54,338 (+79.2%), from €68,571 to €122,909
- Financial income +€25,231
up €25,231 (+4.5%), from €563,629 to €588,860
- Depreciation +€7,209
up €7,209 (+23.5%), from €30,638 to €37,847
- Financial charges -€3,711
down €3,711 (-8.3%), from €44,614 to €40,903
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 | €3,743,915 | €3,623,409 | -€120,506 | -3.2% |
| Fixed assets | 21/28 | €2,736,093 | €2,698,245 | -€37,847 | -1.4% |
| Tangible fixed assets | 22/27 | €275,115 | €237,268 | -€37,847 | -13.8% |
| Land and buildings | 22 | €127,282 | €122,242 | -€5,040 | -4.0% |
| Furniture and vehicles | 24 | €141,268 | €108,461 | -€32,807 | -23.2% |
| Other tangible fixed assets | 26 | €6,565 | €6,565 | = | 0.0% |
| Financial fixed assets | 28 | €2,460,977 | €2,460,977 | = | 0.0% |
| Current assets | 29/58 | €1,007,822 | €925,164 | -€82,659 | -8.2% |
| Amounts receivable within one year | 40/41 | €562,148 | €14,691 | -€547,457 | -97.4% |
| Other amounts receivable | 41 | €562,148 | €14,691 | -€547,457 | -97.4% |
| Cash at bank and in hand | 54/58 | €433,486 | €908,758 | +€475,272 | +109.6% |
| Deferred charges and accrued income | 490/1 | €12,188 | €1,714 | -€10,473 | -85.9% |
| Total equity and liabilities | 10/49 | €3,743,915 | €3,623,409 | -€120,506 | -3.2% |
| Equity | 10/15 | €2,291,578 | €2,274,845 | -€16,733 | -0.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,279,178 | €2,262,445 | -€16,733 | -0.7% |
| Distributable reserves | 133 | €2,279,178 | €2,262,445 | -€16,733 | -0.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,452,337 | €1,348,564 | -€103,773 | -7.1% |
| Amounts payable after more than one year | 17 | €1,217,053 | €1,053,538 | -€163,515 | -13.4% |
| Financial debts | 170/4 | €1,217,053 | €1,053,538 | -€163,515 | -13.4% |
| Amounts payable within one year | 42/48 | €235,284 | €295,026 | +€59,742 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €162,828 | €163,515 | +€687 | +0.4% |
| Trade debts | 44 | €3,492 | €3,925 | +€434 | +12.4% |
| Suppliers | 440/4 | €3,492 | €3,925 | +€434 | +12.4% |
| Taxes, remuneration and social security | 45 | €68,571 | €122,909 | +€54,338 | +79.2% |
| Taxes | 450/3 | €68,571 | €122,909 | +€54,338 | +79.2% |
| Other amounts payable | 47/48 | €394 | €4,677 | +€4,283 | +1087.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,638 | €37,847 | +€7,209 | +23.5% |
| Other operating charges | 640/8 | €1,909 | €2,126 | +€217 | +11.4% |
| Gross operating margin | 9900 | €93,501 | €93,886 | +€386 | +0.4% |
| Operating profit (loss) | 9901 | €60,953 | €53,913 | -€7,041 | -11.6% |
| Financial income | 75/76B | €563,629 | €588,860 | +€25,231 | +4.5% |
| Recurring financial income | 75 | €563,629 | €588,860 | +€25,231 | +4.5% |
| Financial charges | 65/66B | €44,614 | €40,903 | -€3,711 | -8.3% |
| Recurring financial charges | 65 | €44,614 | €40,903 | -€3,711 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €579,969 | €601,871 | +€21,901 | +3.8% |
| Income taxes | 67/77 | €58,502 | €59,130 | +€628 | +1.1% |
| Profit (loss) for the period | 9904 | €521,468 | €542,741 | +€21,273 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €521,468 | €542,741 | +€21,273 | +4.1% |
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 5 October 2026 via checked.be.