ARTMETAL: 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.
ARTMETAL
Largest movements
- Cash -€28,737
down €28,737 (-38.3%), from €74,988 to €46,251
mainly Net result for the year (-€18,170) and Receivables within one year (-€14,050)
- Tangible fixed assets -€27,594
down €27,594 (-27.0%), from €102,124 to €74,530
- Receivables within one year +€14,050
up €14,050 (+81.7%), from €17,206 to €31,255
of which Trade receivables: +€13,606
- Deferred charges and accrued income +€3,019
up €3,019 (+209.4%), from €1,442 to €4,461
- Stocks and contracts +€2,151
up €2,151 (+30.4%), from €7,076 to €9,227
- Profit (loss) carried forward -€18,170
new in 2025: -€18,170
- Other debts -€7,287
down €7,287 (-89.6%), from €8,128 to €841
- Current portion of long-term debt -€6,598
no longer reported in 2025 (was €6,598)
- Trade debts -€5,418
down €5,418 (-93.9%), from €5,772 to €354
- Gross operating margin -€28,344
down €28,344 (-65.0%), from €43,638 to €15,295
- Depreciation +€6,488
up €6,488 (+26.8%), from €24,182 to €30,670
- Taxes -€4,630
down €4,630 (-96.7%), from €4,787 to €156
- Staff costs -€1,271
no longer reported in 2025 (was €1,271)
- Other operating charges +€440
up €440 (+68.8%), from €639 to €1,079
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 | €203,268 | €165,975 | -€37,293 | -18.3% |
| Fixed assets | 21/28 | €102,557 | €74,781 | -€27,776 | -27.1% |
| Intangible fixed assets | 21 | €183 | - | -€183 | |
| Tangible fixed assets | 22/27 | €102,124 | €74,530 | -€27,594 | -27.0% |
| Plant, machinery and equipment | 23 | €54,690 | €42,178 | -€12,512 | -22.9% |
| Furniture and vehicles | 24 | €37,080 | €32,352 | -€4,728 | -12.8% |
| Leasing and similar rights | 25 | €10,354 | - | -€10,354 | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €100,711 | €91,194 | -€9,517 | -9.4% |
| Stocks and contracts in progress | 3 | €7,076 | €9,227 | +€2,151 | +30.4% |
| Stocks | 30/36 | €7,076 | €9,227 | +€2,151 | +30.4% |
| Amounts receivable within one year | 40/41 | €17,206 | €31,255 | +€14,050 | +81.7% |
| Trade receivables | 40 | €6,480 | €20,085 | +€13,606 | +210.0% |
| Other amounts receivable | 41 | €10,726 | €11,170 | +€444 | +4.1% |
| Cash at bank and in hand | 54/58 | €74,988 | €46,251 | -€28,737 | -38.3% |
| Deferred charges and accrued income | 490/1 | €1,442 | €4,461 | +€3,019 | +209.4% |
| Total equity and liabilities | 10/49 | €203,268 | €165,975 | -€37,293 | -18.3% |
| Equity | 10/15 | €152,365 | €134,195 | -€18,170 | -11.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €147,365 | €147,365 | = | 0.0% |
| Distributable reserves | 133 | €147,365 | €147,365 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€18,170 | -€18,170 | |
| Amounts payable | 17/49 | €50,903 | €31,780 | -€19,124 | -37.6% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,903 | €6,780 | -€19,124 | -73.8% |
| Current portion of amounts payable after more than one year | 42 | €6,598 | - | -€6,598 | |
| Trade debts | 44 | €5,772 | €354 | -€5,418 | -93.9% |
| Suppliers | 440/4 | €5,772 | €354 | -€5,418 | -93.9% |
| Taxes, remuneration and social security | 45 | €5,405 | €5,584 | +€179 | +3.3% |
| Taxes | 450/3 | €5,405 | €2,584 | -€2,821 | -52.2% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €8,128 | €841 | -€7,287 | -89.6% |
| Non-recurring operating income | 76A | €32,000 | - | -€32,000 | |
| Remuneration, social security and pensions | 62 | €1,271 | - | -€1,271 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,182 | €30,670 | +€6,488 | +26.8% |
| Other operating charges | 640/8 | €639 | €1,079 | +€440 | +68.8% |
| Non-recurring operating charges | 66A | - | €1,117 | +€1,117 | |
| Gross operating margin | 9900 | €43,638 | €15,295 | -€28,344 | -65.0% |
| Operating profit (loss) | 9901 | €17,545 | -€17,571 | -€35,117 | |
| Financial income | 75/76B | €258 | €388 | +€130 | +50.4% |
| Recurring financial income | 75 | €258 | €388 | +€130 | +50.4% |
| Financial charges | 65/66B | €811 | €830 | +€18 | +2.3% |
| Recurring financial charges | 65 | €811 | €830 | +€18 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €16,992 | -€18,014 | -€35,005 | |
| Income taxes | 67/77 | €4,787 | €156 | -€4,630 | -96.7% |
| Profit (loss) for the period | 9904 | €12,205 | -€18,170 | -€30,375 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,205 | -€18,170 | -€30,375 |
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 30 September 2026 via checked.be.