ARTICFOX: 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.
ARTICFOX
Largest movements
- Tangible fixed assets -€19,419
down €19,419 (-9.5%), from €205,321 to €185,902
of which Land and buildings: -€14,845
- Current investments +€17,162
up €17,162 (+51.9%), from €33,079 to €50,241
- Receivables within one year -€8,940
down €8,940 (-24.4%), from €36,618 to €27,679
of which Trade receivables: -€9,119
- Stocks and contracts +€6,900
up €6,900 (+21.0%), from €32,850 to €39,750
- Cash -€6,174
down €6,174 (-35.2%), from €17,518 to €11,344
mainly Current investments (-€17,162) and Investment in fixed assets (net) (-€11,893)
- Profit (loss) carried forward +€9,991
up €9,991 (+47.8%), from -€20,907 to -€10,916
- Trade debts -€8,146
down €8,146 (-65.3%), from €12,482 to €4,335
- Other debts -€5,249
down €5,249 (-6.9%), from €75,785 to €70,536
- Debts after one year -€4,743
down €4,743 (-3.0%), from €157,599 to €152,856
- Gross operating margin +€7,961
up €7,961 (+18.0%), from €44,271 to €52,231
- Depreciation +€669
up €669 (+2.1%), from €31,495 to €32,164
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 | €345,497 | €334,513 | -€10,984 | -3.2% |
| Fixed assets | 21/28 | €220,128 | €199,857 | -€20,271 | -9.2% |
| Intangible fixed assets | 21 | €14,293 | €13,441 | -€852 | -6.0% |
| Tangible fixed assets | 22/27 | €205,321 | €185,902 | -€19,419 | -9.5% |
| Land and buildings | 22 | €174,943 | €160,098 | -€14,845 | -8.5% |
| Plant, machinery and equipment | 23 | €8,909 | €5,919 | -€2,990 | -33.6% |
| Furniture and vehicles | 24 | €21,469 | €18,472 | -€2,997 | -14.0% |
| Other tangible fixed assets | 26 | - | €1,412 | +€1,412 | |
| Financial fixed assets | 28 | €515 | €515 | = | 0.0% |
| Current assets | 29/58 | €125,369 | €134,655 | +€9,287 | +7.4% |
| Stocks and contracts in progress | 3 | €32,850 | €39,750 | +€6,900 | +21.0% |
| Stocks | 30/36 | €32,850 | €39,750 | +€6,900 | +21.0% |
| Amounts receivable within one year | 40/41 | €36,618 | €27,679 | -€8,940 | -24.4% |
| Trade receivables | 40 | €36,618 | €27,499 | -€9,119 | -24.9% |
| Other amounts receivable | 41 | - | €179 | +€179 | |
| Current investments | 50/53 | €33,079 | €50,241 | +€17,162 | +51.9% |
| Cash at bank and in hand | 54/58 | €17,518 | €11,344 | -€6,174 | -35.2% |
| Deferred charges and accrued income | 490/1 | €5,303 | €5,642 | +€339 | +6.4% |
| Total equity and liabilities | 10/49 | €345,497 | €334,513 | -€10,984 | -3.2% |
| Equity | 10/15 | €80,266 | €90,257 | +€9,991 | +12.4% |
| Contributions | 10/11 | €93,000 | €93,000 | = | 0.0% |
| Reserves | 13 | €8,173 | €8,173 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €8,173 | €8,173 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,907 | -€10,916 | +€9,991 | +47.8% |
| Amounts payable | 17/49 | €265,231 | €244,256 | -€20,975 | -7.9% |
| Amounts payable after more than one year | 17 | €157,599 | €152,856 | -€4,743 | -3.0% |
| Financial debts | 170/4 | €157,599 | €152,856 | -€4,743 | -3.0% |
| Amounts payable within one year | 42/48 | €101,483 | €85,278 | -€16,205 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €4,556 | €4,743 | +€187 | +4.1% |
| Trade debts | 44 | €12,482 | €4,335 | -€8,146 | -65.3% |
| Suppliers | 440/4 | €12,482 | €4,335 | -€8,146 | -65.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €8,661 | €5,664 | -€2,997 | -34.6% |
| Taxes | 450/3 | €8,661 | €5,664 | -€2,997 | -34.6% |
| Other amounts payable | 47/48 | €75,785 | €70,536 | -€5,249 | -6.9% |
| Accrued charges and deferred income | 492/3 | €6,149 | €6,122 | -€27 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,495 | €32,164 | +€669 | +2.1% |
| Other operating charges | 640/8 | €3,704 | €4,138 | +€434 | +11.7% |
| Gross operating margin | 9900 | €44,271 | €52,231 | +€7,961 | +18.0% |
| Operating profit (loss) | 9901 | €9,071 | €15,929 | +€6,857 | +75.6% |
| Financial income | 75/76B | €116 | €235 | +€119 | +102% |
| Recurring financial income | 75 | €116 | €235 | +€119 | +102% |
| Financial charges | 65/66B | €5,924 | €5,867 | -€56 | -1.0% |
| Recurring financial charges | 65 | €5,924 | €5,867 | -€56 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €3,264 | €10,296 | +€7,032 | +215% |
| Income taxes | 67/77 | €262 | €305 | +€43 | +16.4% |
| Profit (loss) for the period | 9904 | €3,002 | €9,991 | +€6,989 | +233% |
| Profit (loss) for the period to be appropriated | 9905 | €3,002 | €9,991 | +€6,989 | +233% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.