ARTINGEST: 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.
ARTINGEST
Largest movements
- Current investments +€142,661
up €142,661 (+79.3%), from €180,000 to €322,661
- Cash -€70,809
down €70,809 (-59.0%), from €120,078 to €49,269
mainly Contributions, distributions and other (-€340,019) and Current investments (-€142,661)
- Other debts +€310,449
new in 2025: €310,449
- Reserves -€235,128
down €235,128 (-99.8%), from €235,698 to €570
- Gross operating margin +€5,515
up €5,515 (+4.3%), from €129,233 to €134,748
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 | €326,560 | €398,400 | +€71,840 | +22.0% |
| Fixed assets | 21/28 | €4,167 | €3,553 | -€614 | -14.7% |
| Tangible fixed assets | 22/27 | €4,167 | €3,553 | -€614 | -14.7% |
| Furniture and vehicles | 24 | €4,167 | €3,553 | -€614 | -14.7% |
| Current assets | 29/58 | €322,393 | €394,847 | +€72,454 | +22.5% |
| Amounts receivable within one year | 40/41 | €20,775 | €22,917 | +€2,143 | +10.3% |
| Other amounts receivable | 41 | €20,775 | €22,917 | +€2,143 | +10.3% |
| Current investments | 50/53 | €180,000 | €322,661 | +€142,661 | +79.3% |
| Cash at bank and in hand | 54/58 | €120,078 | €49,269 | -€70,809 | -59.0% |
| Deferred charges and accrued income | 490/1 | €1,540 | - | -€1,540 | |
| Total equity and liabilities | 10/49 | €326,560 | €398,400 | +€71,840 | +22.0% |
| Equity | 10/15 | €240,698 | €5,570 | -€235,128 | -97.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €235,698 | €570 | -€235,128 | -99.8% |
| Distributable reserves | 133 | €235,698 | €570 | -€235,128 | -99.8% |
| Amounts payable | 17/49 | €85,862 | €392,830 | +€306,968 | +357.5% |
| Amounts payable after more than one year | 17 | €43,198 | €43,198 | = | 0.0% |
| Other amounts payable | 178/9 | €43,198 | €43,198 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,114 | €346,574 | +€310,459 | +859.7% |
| Taxes, remuneration and social security | 45 | €36,114 | €36,124 | +€10 | 0.0% |
| Taxes | 450/3 | €36,114 | €36,124 | +€10 | 0.0% |
| Other amounts payable | 47/48 | - | €310,449 | +€310,449 | |
| Accrued charges and deferred income | 492/3 | €6,550 | €3,058 | -€3,491 | -53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,067 | €1,134 | +€67 | +6.3% |
| Other operating charges | 640/8 | €446 | €579 | +€133 | +29.8% |
| Gross operating margin | 9900 | €129,233 | €134,748 | +€5,515 | +4.3% |
| Operating profit (loss) | 9901 | €127,720 | €133,034 | +€5,314 | +4.2% |
| Financial income | 75/76B | €4,652 | €4,759 | +€106 | +2.3% |
| Recurring financial income | 75 | €4,652 | €4,759 | +€106 | +2.3% |
| Financial charges | 65/66B | €3,568 | €3,155 | -€413 | -11.6% |
| Recurring financial charges | 65 | €3,568 | €3,155 | -€413 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €128,804 | €134,638 | +€5,834 | +4.5% |
| Income taxes | 67/77 | €28,513 | €29,747 | +€1,234 | +4.3% |
| Profit (loss) for the period | 9904 | €100,291 | €104,891 | +€4,600 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,291 | €104,891 | +€4,600 | +4.6% |
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 6 October 2026 via checked.be.