ARTIGAS: 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.
ARTIGAS
Largest movements
- Cash +€26,804
up €26,804 (+103%), from €26,124 to €52,928
mainly Net result for the year (+€12,778) and Receivables within one year (+€8,524)
- Receivables within one year -€8,524
down €8,524 (-49.9%), from €17,070 to €8,546
- Tangible fixed assets -€4,684
down €4,684 (-31.3%), from €14,946 to €10,262
of which Furniture and vehicles: -€3,651
- Reserves +€12,778
up €12,778 (+56.7%), from €22,536 to €35,314
- Tax, wage and social debts +€6,802
up €6,802 (+42.4%), from €16,024 to €22,826
of which Taxes: +€6,802
- Debts after one year -€3,433
down €3,433 (-100%), from €3,433 to €0
- Current portion of long-term debt -€2,199
down €2,199 (-39.0%), from €5,632 to €3,433
- Gross operating margin -€15,871
down €15,871 (-38.8%), from €40,935 to €25,064
- Depreciation -€3,054
down €3,054 (-39.5%), from €7,738 to €4,684
- Taxes -€1,720
down €1,720 (-21.5%), from €7,998 to €6,279
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 | €60,110 | €73,775 | +€13,664 | +22.7% |
| Fixed assets | 21/28 | €14,946 | €10,262 | -€4,684 | -31.3% |
| Tangible fixed assets | 22/27 | €14,946 | €10,262 | -€4,684 | -31.3% |
| Plant, machinery and equipment | 23 | €2,008 | €975 | -€1,033 | -51.4% |
| Furniture and vehicles | 24 | €12,938 | €9,287 | -€3,651 | -28.2% |
| Current assets | 29/58 | €45,164 | €63,512 | +€18,348 | +40.6% |
| Amounts receivable within one year | 40/41 | €17,070 | €8,546 | -€8,524 | -49.9% |
| Trade receivables | 40 | €17,070 | €8,546 | -€8,524 | -49.9% |
| Cash at bank and in hand | 54/58 | €26,124 | €52,928 | +€26,804 | +103% |
| Deferred charges and accrued income | 490/1 | €1,970 | €2,039 | +€68 | +3.5% |
| Total equity and liabilities | 10/49 | €60,110 | €73,775 | +€13,664 | +22.7% |
| Equity | 10/15 | €25,036 | €37,814 | +€12,778 | +51.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €22,536 | €35,314 | +€12,778 | +56.7% |
| Distributable reserves | 133 | €22,536 | €35,314 | +€12,778 | +56.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €35,075 | €35,961 | +€886 | +2.5% |
| Amounts payable after more than one year | 17 | €3,433 | €0 | -€3,433 | -100% |
| Financial debts | 170/4 | €3,433 | €0 | -€3,433 | -100% |
| Amounts payable within one year | 42/48 | €30,042 | €34,861 | +€4,819 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €5,632 | €3,433 | -€2,199 | -39.0% |
| Trade debts | 44 | €554 | €685 | +€131 | +23.7% |
| Suppliers | 440/4 | €554 | €685 | +€131 | +23.7% |
| Taxes, remuneration and social security | 45 | €16,024 | €22,826 | +€6,802 | +42.4% |
| Taxes | 450/3 | €13,785 | €20,587 | +€6,802 | +49.3% |
| Remuneration and social security | 454/9 | €2,239 | €2,239 | = | 0.0% |
| Other amounts payable | 47/48 | €7,833 | €7,917 | +€84 | +1.1% |
| Accrued charges and deferred income | 492/3 | €1,600 | €1,100 | -€500 | -31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,738 | €4,684 | -€3,054 | -39.5% |
| Other operating charges | 640/8 | €507 | €296 | -€211 | -41.6% |
| Gross operating margin | 9900 | €40,935 | €25,064 | -€15,871 | -38.8% |
| Operating profit (loss) | 9901 | €32,689 | €20,084 | -€12,606 | -38.6% |
| Financial income | 75/76B | €11 | €0 | -€11 | -99.9% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -99.9% |
| Financial charges | 65/66B | €1,333 | €1,027 | -€306 | -23.0% |
| Recurring financial charges | 65 | €1,333 | €1,027 | -€306 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €31,367 | €19,057 | -€12,310 | -39.2% |
| Income taxes | 67/77 | €7,998 | €6,279 | -€1,720 | -21.5% |
| Profit (loss) for the period | 9904 | €23,369 | €12,778 | -€10,590 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,369 | €12,778 | -€10,590 | -45.3% |
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 16 October 2026 via checked.be.