ARTICOS: 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.
ARTICOS
Largest movements
- Cash +€65,603
up €65,603 (+17.1%), from €383,984 to €449,587
mainly Net result for the year (+€207,843) and Contributions, distributions and other (+€137,500)
- Receivables within one year +€44,062
up €44,062 (+143.3%), from €30,751 to €74,813
- Tangible fixed assets -€29,970
down €29,970 (-11.0%), from €272,244 to €242,274
of which Land and buildings: -€17,054
- Deferred charges and accrued income -€16,887
down €16,887 (-4.4%), from €380,465 to €363,578
- Reserves +€345,343
up €345,343 (+37.3%), from €926,969 to €1.3m
of which Distributable reserves: +€347,202
- Other debts -€140,581
no longer reported in 2025 (was €140,581)
- Tax, wage and social debts -€70,418
down €70,418 (-84.0%), from €83,825 to €13,408
of which Taxes: -€64,719
- Debts after one year -€26,469
down €26,469 (-79.5%), from €33,280 to €6,810
- Trade debts -€22,850
down €22,850 (-85.5%), from €26,718 to €3,868
- Gross operating margin +€39,828
up €39,828 (+10.4%), from €383,255 to €423,083
- Taxes +€7,172
up €7,172 (+8.8%), from €81,731 to €88,904
- Staff costs -€7,132
down €7,132 (-8.3%), from €86,130 to €78,998
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 | €1,265,964 | €1,337,551 | +€71,586 | +5.7% |
| Fixed assets | 21/28 | €272,244 | €242,274 | -€29,970 | -11.0% |
| Tangible fixed assets | 22/27 | €272,244 | €242,274 | -€29,970 | -11.0% |
| Land and buildings | 22 | €151,132 | €134,078 | -€17,054 | -11.3% |
| Plant, machinery and equipment | 23 | €851 | €493 | -€358 | -42.1% |
| Furniture and vehicles | 24 | €653 | €1,361 | +€708 | +108.5% |
| Leasing and similar rights | 25 | €119,609 | €106,342 | -€13,266 | -11.1% |
| Current assets | 29/58 | €993,720 | €1,095,277 | +€101,557 | +10.2% |
| Amounts receivable after more than one year | 29 | €195,991 | €205,491 | +€9,500 | +4.8% |
| Other amounts receivable | 291 | €195,991 | €205,491 | +€9,500 | +4.8% |
| Amounts receivable within one year | 40/41 | €30,751 | €74,813 | +€44,062 | +143.3% |
| Other amounts receivable | 41 | €30,751 | €74,813 | +€44,062 | +143.3% |
| Current investments | 50/53 | €2,528 | €1,807 | -€721 | -28.5% |
| Cash at bank and in hand | 54/58 | €383,984 | €449,587 | +€65,603 | +17.1% |
| Deferred charges and accrued income | 490/1 | €380,465 | €363,578 | -€16,887 | -4.4% |
| Total equity and liabilities | 10/49 | €1,265,964 | €1,337,551 | +€71,586 | +5.7% |
| Equity | 10/15 | €939,361 | €1,284,703 | +€345,343 | +36.8% |
| Contributions | 10/11 | €12,392 | €12,392 | = | 0.0% |
| Reserves | 13 | €926,969 | €1,272,311 | +€345,343 | +37.3% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €925,109 | €1,272,311 | +€347,202 | +37.5% |
| Amounts payable | 17/49 | €326,604 | €52,847 | -€273,756 | -83.8% |
| Amounts payable after more than one year | 17 | €33,280 | €6,810 | -€26,469 | -79.5% |
| Financial debts | 170/4 | €33,280 | €6,810 | -€26,469 | -79.5% |
| Amounts payable within one year | 42/48 | €293,324 | €46,037 | -€247,287 | -84.3% |
| Current portion of amounts payable after more than one year | 42 | €42,200 | €28,761 | -€13,439 | -31.8% |
| Trade debts | 44 | €26,718 | €3,868 | -€22,850 | -85.5% |
| Suppliers | 440/4 | €26,718 | €3,868 | -€22,850 | -85.5% |
| Taxes, remuneration and social security | 45 | €83,825 | €13,408 | -€70,418 | -84.0% |
| Taxes | 450/3 | €68,754 | €4,035 | -€64,719 | -94.1% |
| Remuneration and social security | 454/9 | €15,071 | €9,373 | -€5,699 | -37.8% |
| Other amounts payable | 47/48 | €140,581 | - | -€140,581 | |
| Remuneration, social security and pensions | 62 | €86,130 | €78,998 | -€7,132 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,519 | €31,382 | -€137 | -0.4% |
| Other operating charges | 640/8 | €2,976 | €2,945 | -€31 | -1.0% |
| Non-recurring operating charges | 66A | - | €17,142 | +€17,142 | |
| Gross operating margin | 9900 | €383,255 | €423,083 | +€39,828 | +10.4% |
| Operating profit (loss) | 9901 | €262,631 | €292,616 | +€29,985 | +11.4% |
| Financial income | 75/76B | €12,105 | €8,211 | -€3,894 | -32.2% |
| Recurring financial income | 75 | €12,105 | €8,211 | -€3,894 | -32.2% |
| Financial charges | 65/66B | €4,677 | €4,080 | -€597 | -12.8% |
| Recurring financial charges | 65 | €4,677 | €4,080 | -€597 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €270,059 | €296,747 | +€26,688 | +9.9% |
| Income taxes | 67/77 | €81,731 | €88,904 | +€7,172 | +8.8% |
| Profit (loss) for the period | 9904 | €188,328 | €207,843 | +€19,515 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €188,328 | €207,843 | +€19,515 | +10.4% |
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 11 October 2026 via checked.be.