ARTICE: 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.
ARTICE
Largest movements
- Tangible fixed assets +€34,227
up €34,227 (+1599.5%), from €2,140 to €36,367
- Reserves +€21,521
up €21,521 (+16.1%), from €133,977 to €155,497
- Debts after one year +€17,930
new in 2025: €17,930
- Gross operating margin +€32,226
up €32,226 (+73.8%), from €43,668 to €75,894
- Depreciation +€6,676
up €6,676 (+165.8%), from €4,026 to €10,702
- Taxes +€4,859
up €4,859 (+35.4%), from €13,715 to €18,574
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 | €1,078,288 | €1,120,805 | +€42,517 | +3.9% |
| Fixed assets | 21/28 | €1,039,640 | €1,073,867 | +€34,227 | +3.3% |
| Tangible fixed assets | 22/27 | €2,140 | €36,367 | +€34,227 | +1599.5% |
| Furniture and vehicles | 24 | €2,140 | €36,367 | +€34,227 | +1599.5% |
| Financial fixed assets | 28 | €1,037,500 | €1,037,500 | = | 0.0% |
| Current assets | 29/58 | €38,648 | €46,939 | +€8,290 | +21.5% |
| Amounts receivable within one year | 40/41 | €10,700 | €10,700 | = | 0.0% |
| Trade receivables | 40 | €10,200 | €10,200 | = | 0.0% |
| Other amounts receivable | 41 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,145 | €35,482 | +€8,337 | +30.7% |
| Deferred charges and accrued income | 490/1 | €803 | €757 | -€46 | -5.7% |
| Total equity and liabilities | 10/49 | €1,078,288 | €1,120,805 | +€42,517 | +3.9% |
| Equity | 10/15 | €1,046,977 | €1,068,497 | +€21,521 | +2.1% |
| Contributions | 10/11 | €913,000 | €913,000 | = | 0.0% |
| Reserves | 13 | €133,977 | €155,497 | +€21,521 | +16.1% |
| Distributable reserves | 133 | €133,977 | €155,497 | +€21,521 | +16.1% |
| Amounts payable | 17/49 | €31,312 | €52,308 | +€20,997 | +67.1% |
| Amounts payable after more than one year | 17 | - | €17,930 | +€17,930 | |
| Financial debts | 170/4 | - | €17,930 | +€17,930 | |
| Amounts payable within one year | 42/48 | €31,312 | €34,379 | +€3,067 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | - | €7,313 | +€7,313 | |
| Trade debts | 44 | €386 | €1,223 | +€837 | +216.8% |
| Suppliers | 440/4 | €386 | €1,223 | +€837 | +216.8% |
| Taxes, remuneration and social security | 45 | €14,939 | €12,609 | -€2,330 | -15.6% |
| Taxes | 450/3 | €14,939 | €12,609 | -€2,330 | -15.6% |
| Other amounts payable | 47/48 | €15,987 | €13,234 | -€2,753 | -17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,026 | €10,702 | +€6,676 | +165.8% |
| Other operating charges | 640/8 | €1,365 | €1,320 | -€45 | -3.3% |
| Gross operating margin | 9900 | €43,668 | €75,894 | +€32,226 | +73.8% |
| Operating profit (loss) | 9901 | €38,277 | €63,872 | +€25,595 | +66.9% |
| Financial charges | 65/66B | €376 | €1,055 | +€679 | +180.4% |
| Recurring financial charges | 65 | €376 | €1,055 | +€679 | +180.4% |
| Profit (loss) for the period before taxes | 9903 | €37,901 | €62,817 | +€24,917 | +65.7% |
| Income taxes | 67/77 | €13,715 | €18,574 | +€4,859 | +35.4% |
| Profit (loss) for the period | 9904 | €24,185 | €44,243 | +€20,058 | +82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,185 | €44,243 | +€20,058 | +82.9% |
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 10 October 2026 via checked.be.