ARTI-SHOCK: 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.
ARTI-SHOCK
Largest movements
- Cash +€38,176
up €38,176 (+151%), from €25,251 to €63,427
mainly Receivables within one year (+€25,569) and Depreciation (+€13,890)
- Receivables within one year -€25,569
down €25,569 (-47.5%), from €53,774 to €28,205
of which Trade receivables: -€30,549
- Tangible fixed assets -€11,480
down €11,480 (-25.7%), from €44,638 to €33,158
of which Plant, machinery and equipment: -€11,564
- Trade debts -€6,575
down €6,575 (-65.3%), from €10,073 to €3,498
- Reserves +€4,426
up €4,426 (+5.0%), from €88,844 to €93,270
- Tax, wage and social debts +€4,025
up €4,025 (+30.8%), from €13,090 to €17,115
- Gross operating margin -€7,311
down €7,311 (-24.0%), from €30,486 to €23,175
- Depreciation -€4,588
down €4,588 (-24.8%), from €18,478 to €13,890
- Financial income -€713
down €713 (-46.0%), from €1,551 to €838
- Taxes +€688
up €688 (+16.6%), from €4,152 to €4,839
- Financial charges -€442
down €442 (-72.8%), from €608 to €166
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 | €125,658 | €126,726 | +€1,067 | +0.8% |
| Fixed assets | 21/28 | €45,138 | €33,658 | -€11,480 | -25.4% |
| Tangible fixed assets | 22/27 | €44,638 | €33,158 | -€11,480 | -25.7% |
| Land and buildings | 22 | €1,064 | €0 | -€1,064 | -100% |
| Plant, machinery and equipment | 23 | €41,989 | €30,425 | -€11,564 | -27.5% |
| Furniture and vehicles | 24 | €1,586 | €2,733 | +€1,148 | +72.4% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €80,520 | €93,067 | +€12,548 | +15.6% |
| Amounts receivable within one year | 40/41 | €53,774 | €28,205 | -€25,569 | -47.5% |
| Trade receivables | 40 | €37,535 | €6,985 | -€30,549 | -81.4% |
| Other amounts receivable | 41 | €16,239 | €21,219 | +€4,980 | +30.7% |
| Cash at bank and in hand | 54/58 | €25,251 | €63,427 | +€38,176 | +151% |
| Deferred charges and accrued income | 490/1 | €1,495 | €1,436 | -€59 | -3.9% |
| Total equity and liabilities | 10/49 | €125,658 | €126,726 | +€1,067 | +0.8% |
| Equity | 10/15 | €101,244 | €105,670 | +€4,426 | +4.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €88,844 | €93,270 | +€4,426 | +5.0% |
| Distributable reserves | 133 | €88,844 | €93,270 | +€4,426 | +5.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €24,414 | €21,056 | -€3,358 | -13.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €24,414 | €21,056 | -€3,358 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €1,251 | €0 | -€1,251 | -100% |
| Financial debts | 43 | - | €443 | +€443 | |
| Credit institutions | 430/8 | - | €443 | +€443 | |
| Trade debts | 44 | €10,073 | €3,498 | -€6,575 | -65.3% |
| Suppliers | 440/4 | €10,073 | €3,498 | -€6,575 | -65.3% |
| Taxes, remuneration and social security | 45 | €13,090 | €17,115 | +€4,025 | +30.8% |
| Taxes | 450/3 | €13,090 | €17,115 | +€4,025 | +30.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,478 | €13,890 | -€4,588 | -24.8% |
| Other operating charges | 640/8 | €1,072 | €692 | -€381 | -35.5% |
| Gross operating margin | 9900 | €30,486 | €23,175 | -€7,311 | -24.0% |
| Operating profit (loss) | 9901 | €10,936 | €8,593 | -€2,342 | -21.4% |
| Financial income | 75/76B | €1,551 | €838 | -€713 | -46.0% |
| Recurring financial income | 75 | €1,551 | €838 | -€713 | -46.0% |
| Financial charges | 65/66B | €608 | €166 | -€442 | -72.8% |
| Recurring financial charges | 65 | €608 | €166 | -€442 | -72.8% |
| Profit (loss) for the period before taxes | 9903 | €11,878 | €9,265 | -€2,613 | -22.0% |
| Income taxes | 67/77 | €4,152 | €4,839 | +€688 | +16.6% |
| Profit (loss) for the period | 9904 | €7,727 | €4,426 | -€3,301 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,727 | €4,426 | -€3,301 | -42.7% |
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.