ARTICHAUD: 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.
ARTICHAUD
Largest movements
- Deferred charges and accrued income +€28,563
up €28,563 (+1,737%), from €1,644 to €30,208
- Tangible fixed assets -€17,404
down €17,404 (-30.1%), from €57,833 to €40,429
of which Furniture and vehicles: -€16,655
- Receivables within one year +€13,350
up €13,350 (+17.3%), from €77,061 to €90,411
of which Other amounts receivable: +€8,351
- Cash -€10,602
down €10,602 (-73.1%), from €14,499 to €3,897
mainly Deferred charges and accrued income (-€28,563) and Receivables within one year (-€13,350)
- Stocks and contracts -€4,907
down €4,907 (-10.6%), from €46,459 to €41,552
- Debts after one year -€10,814
down €10,814 (-37.4%), from €28,930 to €18,115
- Profit (loss) carried forward +€8,612
up €8,612 (+17.2%), from €50,074 to €58,687
- Trade debts +€7,969
up €7,969 (+14.0%), from €56,754 to €64,723
- Current portion of long-term debt -€7,929
down €7,929 (-40.4%), from €19,605 to €11,676
- Short-term financial debts +€5,036
new in 2025: €5,036
- Financial income +€4,944
up €4,944 (+947%), from €522 to €5,466
- Depreciation -€2,404
down €2,404 (-11.4%), from €21,037 to €18,633
- Gross operating margin +€2,186
up €2,186 (+6.5%), from €33,405 to €35,591
- Taxes +€1,287
up €1,287 (+33.7%), from €3,816 to €5,103
- Financial charges +€410
up €410 (+7.3%), from €5,632 to €6,043
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 | €202,447 | €208,442 | +€5,996 | +3.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €59,655 | €42,374 | -€17,280 | -29.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | 0.0% |
| Tangible fixed assets | 22/27 | €57,833 | €40,429 | -€17,404 | -30.1% |
| Plant, machinery and equipment | 23 | €10,966 | €10,217 | -€749 | -6.8% |
| Furniture and vehicles | 24 | €46,867 | €30,212 | -€16,655 | -35.5% |
| Financial fixed assets | 28 | €1,822 | €1,946 | +€124 | +6.8% |
| Current assets | 29/58 | €142,792 | €166,068 | +€23,276 | +16.3% |
| Amounts receivable after more than one year | 29 | €3,128 | €0 | -€3,128 | -100% |
| Other amounts receivable | 291 | €3,128 | €0 | -€3,128 | -100% |
| Stocks and contracts in progress | 3 | €46,459 | €41,552 | -€4,907 | -10.6% |
| Stocks | 30/36 | €46,459 | €41,552 | -€4,907 | -10.6% |
| Amounts receivable within one year | 40/41 | €77,061 | €90,411 | +€13,350 | +17.3% |
| Trade receivables | 40 | €68,540 | €73,538 | +€4,998 | +7.3% |
| Other amounts receivable | 41 | €8,521 | €16,873 | +€8,351 | +98.0% |
| Cash at bank and in hand | 54/58 | €14,499 | €3,897 | -€10,602 | -73.1% |
| Deferred charges and accrued income | 490/1 | €1,644 | €30,208 | +€28,563 | +1,737% |
| Total equity and liabilities | 10/49 | €202,447 | €208,442 | +€5,996 | +3.0% |
| Equity | 10/15 | €86,127 | €94,740 | +€8,612 | +10.0% |
| Contributions | 10/11 | €31,250 | €31,250 | = | 0.0% |
| Reserves | 13 | €4,803 | €4,803 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,125 | €3,125 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,125 | €3,125 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,678 | €1,678 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,074 | €58,687 | +€8,612 | +17.2% |
| Amounts payable | 17/49 | €116,319 | €113,703 | -€2,616 | -2.2% |
| Amounts payable after more than one year | 17 | €28,930 | €18,115 | -€10,814 | -37.4% |
| Financial debts | 170/4 | €28,930 | €18,115 | -€10,814 | -37.4% |
| Amounts payable within one year | 42/48 | €87,079 | €95,316 | +€8,237 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €19,605 | €11,676 | -€7,929 | -40.4% |
| Financial debts | 43 | - | €5,036 | +€5,036 | |
| Credit institutions | 430/8 | - | €5,036 | +€5,036 | |
| Trade debts | 44 | €56,754 | €64,723 | +€7,969 | +14.0% |
| Suppliers | 440/4 | €56,754 | €64,723 | +€7,969 | +14.0% |
| Taxes, remuneration and social security | 45 | €365 | €348 | -€17 | -4.7% |
| Taxes | 450/3 | €365 | €348 | -€17 | -4.7% |
| Other amounts payable | 47/48 | €10,355 | €13,533 | +€3,178 | +30.7% |
| Accrued charges and deferred income | 492/3 | €311 | €272 | -€39 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,037 | €18,633 | -€2,404 | -11.4% |
| Other operating charges | 640/8 | €2,926 | €2,667 | -€260 | -8.9% |
| Gross operating margin | 9900 | €33,405 | €35,591 | +€2,186 | +6.5% |
| Operating profit (loss) | 9901 | €9,442 | €14,291 | +€4,850 | +51.4% |
| Financial income | 75/76B | €522 | €5,466 | +€4,944 | +947% |
| Recurring financial income | 75 | €522 | €5,466 | +€4,944 | +947% |
| Financial charges | 65/66B | €5,632 | €6,043 | +€410 | +7.3% |
| Recurring financial charges | 65 | €5,632 | €6,043 | +€410 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €4,331 | €13,715 | +€9,384 | +217% |
| Income taxes | 67/77 | €3,816 | €5,103 | +€1,287 | +33.7% |
| Profit (loss) for the period | 9904 | €515 | €8,612 | +€8,097 | +1,571% |
| Profit (loss) for the period to be appropriated | 9905 | €515 | €8,612 | +€8,097 | +1,571% |
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 18 October 2026 via checked.be.