Artinco: 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.
Artinco
Largest movements
- Receivables within one year +€13,098
up €13,098 (+3.5%), from €375,246 to €388,344
of which Trade receivables: +€11,288
- Cash -€6,499
down €6,499 (-59.1%), from €10,989 to €4,490
mainly Trade debts (-€24,078) and Receivables within one year (-€13,098)
- Reserves +€24,259
up €24,259 (+7.7%), from €315,969 to €340,227
- Trade debts -€24,078
down €24,078 (-75.8%), from €31,767 to €7,688
- Tax, wage and social debts +€11,872
up €11,872 (+41.6%), from €28,565 to €40,437
of which Taxes: +€9,102
- Short-term financial debts -€8,468
down €8,468 (-100.0%), from €8,468 to €0
of which Credit institutions: -€8,468
- Staff costs +€35,904
up €35,904 (+470.6%), from €7,630 to €43,534
- Gross operating margin -€24,438
down €24,438 (-21.5%), from €113,560 to €89,122
- Taxes +€11,081
up €11,081 (+94.2%), from €11,757 to €22,839
- Financial income +€4,383
up €4,383 (+57.1%), from €7,675 to €12,058
- Financial charges +€1,961
up €1,961 (+31.2%), from €6,274 to €8,235
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 | €397,268 | €404,225 | +€6,957 | +1.8% |
| Fixed assets | 21/28 | €9,016 | €8,397 | -€619 | -6.9% |
| Tangible fixed assets | 22/27 | €1,216 | €597 | -€619 | -50.9% |
| Plant, machinery and equipment | 23 | €1,216 | €597 | -€619 | -50.9% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €7,800 | €7,800 | = | 0.0% |
| Current assets | 29/58 | €388,252 | €395,828 | +€7,576 | +2.0% |
| Amounts receivable within one year | 40/41 | €375,246 | €388,344 | +€13,098 | +3.5% |
| Trade receivables | 40 | €11,021 | €22,309 | +€11,288 | +102.4% |
| Other amounts receivable | 41 | €364,225 | €366,035 | +€1,810 | +0.5% |
| Cash at bank and in hand | 54/58 | €10,989 | €4,490 | -€6,499 | -59.1% |
| Deferred charges and accrued income | 490/1 | €2,017 | €2,994 | +€977 | +48.4% |
| Total equity and liabilities | 10/49 | €397,268 | €404,225 | +€6,957 | +1.8% |
| Equity | 10/15 | €328,469 | €352,727 | +€24,259 | +7.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €315,969 | €340,227 | +€24,259 | +7.7% |
| Distributable reserves | 133 | €315,969 | €340,227 | +€24,259 | +7.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €68,800 | €51,498 | -€17,302 | -25.1% |
| Amounts payable within one year | 42/48 | €68,800 | €48,125 | -€20,674 | -30.1% |
| Financial debts | 43 | €8,468 | €0 | -€8,468 | -100.0% |
| Credit institutions | 430/8 | €8,468 | €0 | -€8,468 | -100.0% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €31,767 | €7,688 | -€24,078 | -75.8% |
| Suppliers | 440/4 | €31,767 | €7,688 | -€24,078 | -75.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €28,565 | €40,437 | +€11,872 | +41.6% |
| Taxes | 450/3 | €26,062 | €35,163 | +€9,102 | +34.9% |
| Remuneration and social security | 454/9 | €2,503 | €5,273 | +€2,770 | +110.7% |
| Accrued charges and deferred income | 492/3 | - | €3,373 | +€3,373 | |
| Non-recurring operating income | 76A | €10,546 | €0 | -€10,546 | -100.0% |
| Remuneration, social security and pensions | 62 | €7,630 | €43,534 | +€35,904 | +470.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €767 | €619 | -€148 | -19.3% |
| Other operating charges | 640/8 | €1,197 | €1,695 | +€498 | +41.6% |
| Non-recurring operating charges | 66A | €75,800 | €0 | -€75,800 | -100.0% |
| Gross operating margin | 9900 | €113,560 | €89,122 | -€24,438 | -21.5% |
| Operating profit (loss) | 9901 | €28,166 | €43,274 | +€15,108 | +53.6% |
| Financial income | 75/76B | €7,675 | €12,058 | +€4,383 | +57.1% |
| Recurring financial income | 75 | €7,675 | €12,058 | +€4,383 | +57.1% |
| Financial charges | 65/66B | €6,274 | €8,235 | +€1,961 | +31.2% |
| Recurring financial charges | 65 | €6,274 | €8,235 | +€1,961 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | €29,567 | €47,098 | +€17,530 | +59.3% |
| Income taxes | 67/77 | €11,757 | €22,839 | +€11,081 | +94.2% |
| Profit (loss) for the period | 9904 | €17,810 | €24,259 | +€6,449 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,810 | €24,259 | +€6,449 | +36.2% |
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 9 October 2026 via checked.be.