ARTIGER: what changed
Two fiscal 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.
ARTIGER
Largest movements
- Receivables within one year -€123,588
down €123,588 (-26.1%), from €473,476 to €349,888
of which Trade receivables: -€181,258
- Cash +€49,050
up €49,050 (+226.4%), from €21,665 to €70,715
mainly Net result for the year (+€264,378) and Receivables within one year (+€123,588)
- Tangible fixed assets -€37,182
down €37,182 (-80.8%), from €46,000 to €8,818
- Current investments +€18,674
up €18,674 (+3.2%), from €592,345 to €611,019
- Profit (loss) carried forward -€105,622
down €105,622 (-97.8%), from €107,963 to €2,341
- Debts after one year +€31,197
up €31,197 (+3.0%), from €1.0m to €1.1m
- Tax, wage and social debts -€27,734
down €27,734 (-27.7%), from €100,201 to €72,468
- Gross operating margin -€50,685
down €50,685 (-11.0%), from €462,317 to €411,632
- Depreciation -€8,601
down €8,601 (-54.0%), from €15,933 to €7,332
- Taxes +€7,793
up €7,793 (+7.6%), from €102,774 to €110,567
- Financial charges -€7,354
down €7,354 (-19.0%), from €38,676 to €31,321
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 | €1,557,448 | €1,455,927 | -€101,521 | -6.5% |
| Fixed assets | 21/28 | €46,000 | €8,818 | -€37,182 | -80.8% |
| Tangible fixed assets | 22/27 | €46,000 | €8,818 | -€37,182 | -80.8% |
| Furniture and vehicles | 24 | €46,000 | €8,818 | -€37,182 | -80.8% |
| Current assets | 29/58 | €1,511,448 | €1,447,109 | -€64,339 | -4.3% |
| Amounts receivable after more than one year | 29 | €2,670 | €2,755 | +€86 | +3.2% |
| Trade receivables | 290 | €2,670 | €2,755 | +€86 | +3.2% |
| Amounts receivable within one year | 40/41 | €473,476 | €349,888 | -€123,588 | -26.1% |
| Trade receivables | 40 | €413,305 | €232,046 | -€181,258 | -43.9% |
| Other amounts receivable | 41 | €60,172 | €117,842 | +€57,670 | +95.8% |
| Current investments | 50/53 | €592,345 | €611,019 | +€18,674 | +3.2% |
| Cash at bank and in hand | 54/58 | €21,665 | €70,715 | +€49,050 | +226.4% |
| Deferred charges and accrued income | 490/1 | €421,293 | €412,731 | -€8,562 | -2.0% |
| Total equity and liabilities | 10/49 | €1,557,448 | €1,455,927 | -€101,521 | -6.5% |
| Equity | 10/15 | €108,963 | €3,341 | -€105,622 | -96.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,963 | €2,341 | -€105,622 | -97.8% |
| Amounts payable | 17/49 | €1,448,485 | €1,452,585 | +€4,101 | +0.3% |
| Amounts payable after more than one year | 17 | €1,026,344 | €1,057,541 | +€31,197 | +3.0% |
| Financial debts | 170/4 | €1,026,344 | €1,057,541 | +€31,197 | +3.0% |
| Amounts payable within one year | 42/48 | €422,141 | €395,044 | -€27,097 | -6.4% |
| Trade debts | 44 | €3,017 | €180 | -€2,837 | -94.0% |
| Suppliers | 440/4 | €3,017 | €180 | -€2,837 | -94.0% |
| Taxes, remuneration and social security | 45 | €100,201 | €72,468 | -€27,734 | -27.7% |
| Taxes | 450/3 | €100,201 | €72,468 | -€27,734 | -27.7% |
| Other amounts payable | 47/48 | €318,923 | €322,397 | +€3,474 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,933 | €7,332 | -€8,601 | -54.0% |
| Other operating charges | 640/8 | €1,377 | €989 | -€389 | -28.2% |
| Non-recurring operating charges | 66A | - | -€14 | -€14 | |
| Gross operating margin | 9900 | €462,317 | €411,632 | -€50,685 | -11.0% |
| Operating profit (loss) | 9901 | €445,007 | €403,326 | -€41,682 | -9.4% |
| Financial income | 75/76B | €3,685 | €2,941 | -€745 | -20.2% |
| Recurring financial income | 75 | €3,685 | €2,941 | -€745 | -20.2% |
| Financial charges | 65/66B | €38,676 | €31,321 | -€7,354 | -19.0% |
| Recurring financial charges | 65 | €38,676 | €31,321 | -€7,354 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €410,017 | €374,945 | -€35,072 | -8.6% |
| Income taxes | 67/77 | €102,774 | €110,567 | +€7,793 | +7.6% |
| Profit (loss) for the period | 9904 | €307,243 | €264,378 | -€42,865 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €307,243 | €264,378 | -€42,865 | -14.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.