ARTINOX: 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.
ARTINOX
Largest movements
- Tangible fixed assets +€238,641
up €238,641 (+22.4%), from €1.1m to €1.3m
of which Leasing and similar rights: +€254,933
- Receivables within one year +€88,802
up €88,802 (+127.1%), from €69,861 to €158,663
of which Trade receivables: +€64,659
- Cash +€70,049
up €70,049 (+39.1%), from €179,349 to €249,398
mainly Debts after one year (+€142,137) and Net result for the year (+€141,956)
- Debts after one year +€142,137
up €142,137 (+18.2%), from €779,638 to €921,775
of which Financial debts: +€142,137
- Profit (loss) carried forward +€141,956
up €141,956 (+53.8%), from €264,101 to €406,056
- Trade debts +€62,997
up €62,997 (+319.2%), from €19,733 to €82,730
- Investment grants +€45,499
up €45,499 (+163.2%), from €27,880 to €73,379
- Current portion of long-term debt +€27,117
up €27,117 (+26.9%), from €100,913 to €128,030
- Gross operating margin +€237,519
up €237,519 (+73.1%), from €324,754 to €562,273
- Staff costs +€90,329
up €90,329 (+57.6%), from €156,921 to €247,249
- Taxes +€28,489
new in 2025: €28,489
- Depreciation +€13,636
up €13,636 (+15.1%), from €90,508 to €104,143
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 | €1,357,024 | €1,776,818 | +€419,795 | +30.9% |
| Fixed assets | 21/28 | €1,066,809 | €1,310,550 | +€243,741 | +22.8% |
| Tangible fixed assets | 22/27 | €1,066,809 | €1,305,450 | +€238,641 | +22.4% |
| Land and buildings | 22 | €324,547 | €305,000 | -€19,548 | -6.0% |
| Plant, machinery and equipment | 23 | €84,790 | €92,600 | +€7,810 | +9.2% |
| Furniture and vehicles | 24 | €12,392 | €4,107 | -€8,284 | -66.9% |
| Leasing and similar rights | 25 | €645,080 | €900,013 | +€254,933 | +39.5% |
| Other tangible fixed assets | 26 | - | €3,730 | +€3,730 | |
| Financial fixed assets | 28 | - | €5,100 | +€5,100 | |
| Current assets | 29/58 | €290,215 | €466,269 | +€176,054 | +60.7% |
| Stocks and contracts in progress | 3 | €40,633 | €57,324 | +€16,690 | +41.1% |
| Stocks | 30/36 | €40,633 | €57,324 | +€16,690 | +41.1% |
| Amounts receivable within one year | 40/41 | €69,861 | €158,663 | +€88,802 | +127.1% |
| Trade receivables | 40 | €57,363 | €122,022 | +€64,659 | +112.7% |
| Other amounts receivable | 41 | €12,498 | €36,641 | +€24,143 | +193.2% |
| Cash at bank and in hand | 54/58 | €179,349 | €249,398 | +€70,049 | +39.1% |
| Deferred charges and accrued income | 490/1 | €372 | €884 | +€512 | +137.4% |
| Total equity and liabilities | 10/49 | €1,357,024 | €1,776,818 | +€419,795 | +30.9% |
| Equity | 10/15 | €351,981 | €539,436 | +€187,455 | +53.3% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,101 | €406,056 | +€141,956 | +53.8% |
| Investment grants | 15 | €27,880 | €73,379 | +€45,499 | +163.2% |
| Amounts payable | 17/49 | €1,005,043 | €1,237,383 | +€232,339 | +23.1% |
| Amounts payable after more than one year | 17 | €779,638 | €921,775 | +€142,137 | +18.2% |
| Financial debts | 170/4 | €689,638 | €831,775 | +€142,137 | +20.6% |
| Other amounts payable | 178/9 | €90,000 | €90,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €216,416 | €301,205 | +€84,789 | +39.2% |
| Current portion of amounts payable after more than one year | 42 | €100,913 | €128,030 | +€27,117 | +26.9% |
| Trade debts | 44 | €19,733 | €82,730 | +€62,997 | +319.2% |
| Suppliers | 440/4 | €19,733 | €82,730 | +€62,997 | +319.2% |
| Taxes, remuneration and social security | 45 | €73,331 | €66,942 | -€6,389 | -8.7% |
| Taxes | 450/3 | €41,152 | €21,033 | -€20,119 | -48.9% |
| Remuneration and social security | 454/9 | €32,179 | €45,909 | +€13,730 | +42.7% |
| Other amounts payable | 47/48 | €22,438 | €23,503 | +€1,064 | +4.7% |
| Accrued charges and deferred income | 492/3 | €8,989 | €14,403 | +€5,414 | +60.2% |
| Remuneration, social security and pensions | 62 | €156,921 | €247,249 | +€90,329 | +57.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,508 | €104,143 | +€13,636 | +15.1% |
| Other operating charges | 640/8 | €2,872 | €3,033 | +€161 | +5.6% |
| Gross operating margin | 9900 | €324,754 | €562,273 | +€237,519 | +73.1% |
| Operating profit (loss) | 9901 | €74,454 | €207,847 | +€133,393 | +179.2% |
| Financial income | 75/76B | €5,808 | €2,948 | -€2,861 | -49.3% |
| Recurring financial income | 75 | €5,808 | €2,948 | -€2,861 | -49.3% |
| Financial charges | 65/66B | €35,782 | €40,350 | +€4,568 | +12.8% |
| Recurring financial charges | 65 | €35,782 | €40,350 | +€4,568 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €44,480 | €170,445 | +€125,965 | +283.2% |
| Income taxes | 67/77 | - | €28,489 | +€28,489 | |
| Profit (loss) for the period | 9904 | €44,480 | €141,956 | +€97,476 | +219.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,480 | €141,956 | +€97,476 | +219.1% |
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.