ARTNOG: 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.
ARTNOG
Largest movements
- Cash +€23,754
up €23,754 (+52.1%), from €45,626 to €69,380
mainly Net result for the year (+€16,418) and Other debts (+€6,496)
- Stocks and contracts -€3,769
down €3,769 (-3.3%), from €114,188 to €110,419
- Profit (loss) carried forward +€16,418
up €16,418 (+14.4%), from -€113,965 to -€97,547
- Other debts +€6,496
up €6,496 (+5.5%), from €117,260 to €123,756
- Tax, wage and social debts -€4,915
down €4,915 (-50.5%), from €9,741 to €4,826
- Write-downs -€120,697
down €120,697 (-100.0%), from €120,697 to €0
- Staff costs -€5,564
down €5,564 (-100.0%), from €5,564 to €0
- Gross operating margin -€4,186
down €4,186 (-13.4%), from €31,349 to €27,163
- Financial charges -€2,110
down €2,110 (-18.9%), from €11,180 to €9,070
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 | €198,301 | €215,446 | +€17,145 | +8.6% |
| Fixed assets | 21/28 | €2,355 | €923 | -€1,432 | -60.8% |
| Intangible fixed assets | 21 | €1,123 | €0 | -€1,123 | -100.0% |
| Tangible fixed assets | 22/27 | €1,232 | €923 | -€309 | -25.1% |
| Plant, machinery and equipment | 23 | €1,232 | €923 | -€309 | -25.1% |
| Current assets | 29/58 | €195,946 | €214,523 | +€18,577 | +9.5% |
| Stocks and contracts in progress | 3 | €114,188 | €110,419 | -€3,769 | -3.3% |
| Stocks | 30/36 | €114,188 | €110,419 | -€3,769 | -3.3% |
| Amounts receivable within one year | 40/41 | €35,502 | €33,571 | -€1,931 | -5.4% |
| Trade receivables | 40 | €33,474 | €32,446 | -€1,029 | -3.1% |
| Other amounts receivable | 41 | €2,027 | €1,125 | -€902 | -44.5% |
| Cash at bank and in hand | 54/58 | €45,626 | €69,380 | +€23,754 | +52.1% |
| Deferred charges and accrued income | 490/1 | €630 | €1,154 | +€523 | +83.0% |
| Total equity and liabilities | 10/49 | €198,301 | €215,446 | +€17,145 | +8.6% |
| Equity | 10/15 | €51,195 | €67,613 | +€16,418 | +32.1% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €105,160 | €105,160 | = | 0.0% |
| Distributable reserves | 133 | €105,160 | €105,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,965 | -€97,547 | +€16,418 | +14.4% |
| Amounts payable | 17/49 | €147,106 | €147,833 | +€727 | +0.5% |
| Amounts payable within one year | 42/48 | €140,610 | €141,861 | +€1,250 | +0.9% |
| Trade debts | 44 | €13,609 | €13,279 | -€330 | -2.4% |
| Suppliers | 440/4 | €13,609 | €13,279 | -€330 | -2.4% |
| Taxes, remuneration and social security | 45 | €9,741 | €4,826 | -€4,915 | -50.5% |
| Taxes | 450/3 | €9,741 | €4,826 | -€4,915 | -50.5% |
| Other amounts payable | 47/48 | €117,260 | €123,756 | +€6,496 | +5.5% |
| Accrued charges and deferred income | 492/3 | €6,496 | €5,972 | -€523 | -8.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €5,564 | €0 | -€5,564 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,719 | €1,432 | -€287 | -16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €120,697 | €0 | -€120,697 | -100.0% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €31,349 | €27,163 | -€4,186 | -13.4% |
| Operating profit (loss) | 9901 | -€97,144 | €25,203 | +€122,347 | |
| Financial income | 75/76B | €1 | €285 | +€284 | +40618.6% |
| Recurring financial income | 75 | €1 | €285 | +€284 | +40618.6% |
| Financial charges | 65/66B | €11,180 | €9,070 | -€2,110 | -18.9% |
| Recurring financial charges | 65 | €11,180 | €9,070 | -€2,110 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | -€108,323 | €16,418 | +€124,741 | |
| Profit (loss) for the period | 9904 | -€108,323 | €16,418 | +€124,741 | |
| Profit (loss) for the period to be appropriated | 9905 | -€108,323 | €16,418 | +€124,741 |
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.