ARTICANALIX: 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.
ARTICANALIX
Largest movements
- Tangible fixed assets -€32,415
down €32,415 (-21.5%), from €150,603 to €118,189
- Current investments -€9,876
down €9,876 (-12.3%), from €80,000 to €70,124
- Cash -€3,203
down €3,203 (-15.7%), from €20,442 to €17,239
mainly Contributions, distributions and other (-€82,236) and Accrued charges and deferred income (-€137)
- Reserves -€49,579
down €49,579 (-21.7%), from €228,203 to €178,624
- Tax, wage and social debts +€3,403
up €3,403 (+104%), from €3,265 to €6,669
- Gross operating margin +€1,763
up €1,763 (+2.3%), from €78,006 to €79,769
- Depreciation +€1,393
up €1,393 (+4.5%), from €31,021 to €32,415
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 | €251,500 | €205,552 | -€45,948 | -18.3% |
| Fixed assets | 21/28 | €150,603 | €118,189 | -€32,415 | -21.5% |
| Tangible fixed assets | 22/27 | €150,603 | €118,189 | -€32,415 | -21.5% |
| Land and buildings | 22 | €150,603 | €118,189 | -€32,415 | -21.5% |
| Current assets | 29/58 | €100,897 | €87,363 | -€13,534 | -13.4% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €80,000 | €70,124 | -€9,876 | -12.3% |
| Cash at bank and in hand | 54/58 | €20,442 | €17,239 | -€3,203 | -15.7% |
| Deferred charges and accrued income | 490/1 | €456 | €0 | -€456 | -100% |
| Total equity and liabilities | 10/49 | €251,500 | €205,552 | -€45,948 | -18.3% |
| Equity | 10/15 | €246,753 | €197,174 | -€49,579 | -20.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €228,203 | €178,624 | -€49,579 | -21.7% |
| Distributable reserves | 133 | €228,203 | €178,624 | -€49,579 | -21.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,747 | €8,378 | +€3,631 | +76.5% |
| Amounts payable within one year | 42/48 | €4,611 | €8,378 | +€3,767 | +81.7% |
| Trade debts | 44 | €1,300 | €1,664 | +€364 | +28.0% |
| Suppliers | 440/4 | €1,300 | €1,664 | +€364 | +28.0% |
| Taxes, remuneration and social security | 45 | €3,265 | €6,669 | +€3,403 | +104% |
| Taxes | 450/3 | €3,265 | €6,669 | +€3,403 | +104% |
| Other amounts payable | 47/48 | €45 | €45 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €137 | €0 | -€137 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,021 | €32,415 | +€1,393 | +4.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €78,006 | €79,769 | +€1,763 | +2.3% |
| Operating profit (loss) | 9901 | €46,598 | €46,955 | +€357 | +0.8% |
| Financial income | 75/76B | €456 | €1,151 | +€696 | +153% |
| Recurring financial income | 75 | €456 | €1,151 | +€696 | +153% |
| Financial charges | 65/66B | €200 | €200 | +€0 | +0.2% |
| Recurring financial charges | 65 | €200 | €200 | +€0 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €46,853 | €47,906 | +€1,053 | +2.2% |
| Income taxes | 67/77 | €14,901 | €15,249 | +€348 | +2.3% |
| Profit (loss) for the period | 9904 | €31,953 | €32,657 | +€704 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,953 | €32,657 | +€704 | +2.2% |
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 21 October 2026 via checked.be.