ARTIVER: 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.
ARTIVER
Largest movements
- Cash -€273,320
down €273,320 (-87.2%), from €313,364 to €40,044
mainly Current investments (-€224,063) and Receivables within one year (-€82,610)
- Current investments +€224,063
new in 2025: €224,063
- Receivables within one year +€82,610
up €82,610 (+65.4%), from €126,407 to €209,017
of which Trade receivables: +€60,667
- Tangible fixed assets +€41,589
up €41,589 (+89.6%), from €46,430 to €88,019
of which Furniture and vehicles: +€59,478
- Stocks and contracts +€15,999
up €15,999 (+20.7%), from €77,339 to €93,338
- Trade debts +€64,832
up €64,832 (+104.8%), from €61,838 to €126,669
- Tax, wage and social debts +€25,277
up €25,277 (+43.8%), from €57,690 to €82,967
of which Remuneration and social security: +€30,900
- Advances received +€21,440
up €21,440 (+11.7%), from €182,513 to €203,953
- Debts after one year -€12,648
down €12,648 (-44.0%), from €28,729 to €16,081
- Short-term financial debts -€9,179
no longer reported in 2025 (was €9,179)
- Staff costs +€197,527
up €197,527 (+45.1%), from €437,649 to €635,176
- Gross operating margin +€191,543
up €191,543 (+42.4%), from €451,269 to €642,812
- Financial income +€15,545
up €15,545 (+153.1%), from €10,150 to €25,695
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 | €564,418 | €655,348 | +€90,929 | +16.1% |
| Fixed assets | 21/28 | €46,430 | €88,019 | +€41,589 | +89.6% |
| Tangible fixed assets | 22/27 | €46,430 | €88,019 | +€41,589 | +89.6% |
| Furniture and vehicles | 24 | - | €59,478 | +€59,478 | |
| Leasing and similar rights | 25 | €46,430 | €28,541 | -€17,889 | -38.5% |
| Current assets | 29/58 | €517,989 | €567,328 | +€49,340 | +9.5% |
| Stocks and contracts in progress | 3 | €77,339 | €93,338 | +€15,999 | +20.7% |
| Stocks | 30/36 | €77,339 | €93,338 | +€15,999 | +20.7% |
| Amounts receivable within one year | 40/41 | €126,407 | €209,017 | +€82,610 | +65.4% |
| Trade receivables | 40 | €105,098 | €165,765 | +€60,667 | +57.7% |
| Other amounts receivable | 41 | €21,309 | €43,253 | +€21,944 | +103.0% |
| Current investments | 50/53 | - | €224,063 | +€224,063 | |
| Cash at bank and in hand | 54/58 | €313,364 | €40,044 | -€273,320 | -87.2% |
| Deferred charges and accrued income | 490/1 | €878 | €866 | -€13 | -1.4% |
| Total equity and liabilities | 10/49 | €564,418 | €655,348 | +€90,929 | +16.1% |
| Equity | 10/15 | €206,806 | €213,029 | +€6,223 | +3.0% |
| Contributions | 10/11 | €87,000 | €87,000 | = | 0.0% |
| Capital | 10 | €87,000 | €87,000 | = | 0.0% |
| Issued capital | 100 | €87,000 | €87,000 | = | 0.0% |
| Reserves | 13 | €8,700 | €8,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,700 | €8,700 | = | 0.0% |
| Legal reserve | 130 | €8,700 | €8,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,106 | €117,329 | +€6,223 | +5.6% |
| Amounts payable | 17/49 | €357,613 | €442,319 | +€84,706 | +23.7% |
| Amounts payable after more than one year | 17 | €28,729 | €16,081 | -€12,648 | -44.0% |
| Financial debts | 170/4 | €28,729 | €16,081 | -€12,648 | -44.0% |
| Amounts payable within one year | 42/48 | €328,883 | €426,238 | +€97,354 | +29.6% |
| Current portion of amounts payable after more than one year | 42 | €17,664 | €12,648 | -€5,016 | -28.4% |
| Financial debts | 43 | €9,179 | - | -€9,179 | |
| Credit institutions | 430/8 | €9,179 | - | -€9,179 | |
| Trade debts | 44 | €61,838 | €126,669 | +€64,832 | +104.8% |
| Suppliers | 440/4 | €61,838 | €126,669 | +€64,832 | +104.8% |
| Advances received on contracts in progress | 46 | €182,513 | €203,953 | +€21,440 | +11.7% |
| Taxes, remuneration and social security | 45 | €57,690 | €82,967 | +€25,277 | +43.8% |
| Taxes | 450/3 | €17,344 | €11,721 | -€5,623 | -32.4% |
| Remuneration and social security | 454/9 | €40,346 | €71,247 | +€30,900 | +76.6% |
| Remuneration, social security and pensions | 62 | €437,649 | €635,176 | +€197,527 | +45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,929 | €18,957 | +€3,028 | +19.0% |
| Other operating charges | 640/8 | €1,433 | €2,591 | +€1,158 | +80.8% |
| Gross operating margin | 9900 | €451,269 | €642,812 | +€191,543 | +42.4% |
| Operating profit (loss) | 9901 | -€3,743 | -€13,912 | -€10,169 | -271.7% |
| Financial income | 75/76B | €10,150 | €25,695 | +€15,545 | +153.1% |
| Recurring financial income | 75 | €10,150 | €25,695 | +€15,545 | +153.1% |
| Financial charges | 65/66B | €2,274 | €2,764 | +€490 | +21.5% |
| Recurring financial charges | 65 | €2,274 | €2,764 | +€490 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | €4,133 | €9,019 | +€4,886 | +118.2% |
| Income taxes | 67/77 | €1,604 | €2,796 | +€1,192 | +74.3% |
| Profit (loss) for the period | 9904 | €2,529 | €6,223 | +€3,694 | +146.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,529 | €6,223 | +€3,694 | +146.0% |
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 7 October 2026 via checked.be.