ARTIFINANCE: 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.
ARTIFINANCE
Largest movements
- Cash -€50,388
down €50,388 (-54.9%), from €91,818 to €41,430
mainly Other debts (-€63,218) and Investment in fixed assets (net) (-€31,000)
- Receivables within one year -€9,211
down €9,211 (-40.6%), from €22,675 to €13,464
of which Trade receivables: -€11,991
- Other debts -€63,218
down €63,218 (-32.3%), from €195,946 to €132,728
- Tax, wage and social debts +€7,211
up €7,211 (+1816.2%), from €397 to €7,608
- Gross operating margin -€30,007
down €30,007 (-38.7%), from €77,504 to €47,498
- Depreciation -€5,623
down €5,623 (-15.5%), from €36,387 to €30,763
- Financial charges -€3,313
down €3,313 (-21.6%), from €15,362 to €12,049
- Taxes -€3,177
down €3,177 (-93.5%), from €3,397 to €220
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 | €486,274 | €427,603 | -€58,671 | -12.1% |
| Fixed assets | 21/28 | €216,268 | €216,505 | +€237 | +0.1% |
| Tangible fixed assets | 22/27 | €215,228 | €215,465 | +€237 | +0.1% |
| Land and buildings | 22 | €189,406 | €176,401 | -€13,005 | -6.9% |
| Furniture and vehicles | 24 | €25,823 | €39,064 | +€13,241 | +51.3% |
| Financial fixed assets | 28 | €1,040 | €1,040 | = | 0.0% |
| Current assets | 29/58 | €270,005 | €211,098 | -€58,908 | -21.8% |
| Stocks and contracts in progress | 3 | €150,000 | €150,000 | = | 0.0% |
| Stocks | 30/36 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €22,675 | €13,464 | -€9,211 | -40.6% |
| Trade receivables | 40 | €22,675 | €10,683 | -€11,991 | -52.9% |
| Other amounts receivable | 41 | - | €2,780 | +€2,780 | |
| Cash at bank and in hand | 54/58 | €91,818 | €41,430 | -€50,388 | -54.9% |
| Deferred charges and accrued income | 490/1 | €5,513 | €6,204 | +€692 | +12.5% |
| Total equity and liabilities | 10/49 | €486,274 | €427,603 | -€58,671 | -12.1% |
| Equity | 10/15 | €271,208 | €273,769 | +€2,561 | +0.9% |
| Reserves | 13 | €271,208 | €273,769 | +€2,561 | +0.9% |
| Distributable reserves | 133 | €271,208 | €273,769 | +€2,561 | +0.9% |
| Amounts payable | 17/49 | €215,066 | €153,833 | -€61,232 | -28.5% |
| Amounts payable within one year | 42/48 | €200,034 | €142,157 | -€57,876 | -28.9% |
| Trade debts | 44 | €3,691 | €1,822 | -€1,870 | -50.7% |
| Suppliers | 440/4 | €3,691 | €1,822 | -€1,870 | -50.7% |
| Taxes, remuneration and social security | 45 | €397 | €7,608 | +€7,211 | +1816.2% |
| Taxes | 450/3 | €397 | €7,608 | +€7,211 | +1816.2% |
| Other amounts payable | 47/48 | €195,946 | €132,728 | -€63,218 | -32.3% |
| Accrued charges and deferred income | 492/3 | €15,032 | €11,676 | -€3,356 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,387 | €30,763 | -€5,623 | -15.5% |
| Other operating charges | 640/8 | €1,988 | €1,904 | -€83 | -4.2% |
| Non-recurring operating charges | 66A | €16,843 | - | -€16,843 | |
| Gross operating margin | 9900 | €77,504 | €47,498 | -€30,007 | -38.7% |
| Operating profit (loss) | 9901 | €22,288 | €14,830 | -€7,457 | -33.5% |
| Financial charges | 65/66B | €15,362 | €12,049 | -€3,313 | -21.6% |
| Recurring financial charges | 65 | €15,362 | €12,049 | -€3,313 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €6,925 | €2,781 | -€4,144 | -59.8% |
| Income taxes | 67/77 | €3,397 | €220 | -€3,177 | -93.5% |
| Profit (loss) for the period | 9904 | €3,528 | €2,561 | -€967 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,528 | €2,561 | -€967 | -27.4% |
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 9 October 2026 via checked.be.