ARTO: 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.
What changed
ARTO
NACE 82.990, Other business support services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€766,391
2024 · €1.2m-€411,800
Equity
€5.4m
2024 · €4.6m+€766,391
Cash
€2.6m
2024 · €1.6m+€981,881
Balance sheet total
€6.6m
2024 · €5.9m+€701,550
Largest movements
Assets
- Cash +€981,881
up €981,881 (+62.0%), from €1.6m to €2.6m
mainly Depreciation (+€977,758) and Net result for the year (+€766,391)
- Current investments -€750,000
no longer reported in 2025 (was €750,000)
- Tangible fixed assets +€398,803
up €398,803 (+13.6%), from €2.9m to €3.3m
- Deferred charges and accrued income +€66,642
up €66,642 (+150.7%), from €44,220 to €110,862
Equity and liabilities
- Reserves +€766,391
up €766,391 (+16.8%), from €4.6m to €5.3m
of which Distributable reserves: +€812,701
- Current portion of long-term debt -€150,669
down €150,669 (-38.1%), from €395,698 to €245,028
- Other debts +€67,958
up €67,958 (+704.8%), from €9,643 to €77,601
Income statement
- Turnover -€420,284
down €420,284 (-5.4%), from €7.7m to €7.3m
- Gross operating margin -€292,768
down €292,768 (-10.4%), from €2.8m to €2.5m
- Depreciation +€215,574
up €215,574 (+28.3%), from €762,184 to €977,758
- Taxes -€148,996
down €148,996 (-39.4%), from €377,942 to €228,946
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.
Result 2024
€1.2m
Gross operating margin
-€292,768
Staff costs
-€33,982
Depreciation
-€215,574
Other operating charges
-€24,739
Financial income
-€119
Financial charges
+€6,386
Taxes
+€148,996
Result 2025
€766,391
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.
From operations
+€1.8m
Investment
-€626,561
Financing
-€204,369
Cash 2024
€1.6m
From operations (derived)
+€1.8m
Net result for the year
+€766,391
Depreciation
+€977,758
Receivables after one year
+€2,769
Receivables within one year
-€6,993
Deferred charges and accrued income
-€66,642
Trade debts
+€36,994
Tax, wage and social debts
+€26,097
Advances received
+€59,062
Other debts
+€67,958
Accrued charges and deferred income
-€50,583
Investment (derived)
-€626,561
Investment in fixed assets (net)
-€1.4m
Current investments
+€750,000
Financing
-€204,369
Debts after one year
-€56,504
Current portion of long-term debt
-€150,669
Short-term financial debts
+€2,804
Cash 2025
€2.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,867,342 | €6,568,892 | +€701,550 | +12.0% |
| Fixed assets | 21/28 | €2,941,743 | €3,340,546 | +€398,803 | +13.6% |
| Tangible fixed assets | 22/27 | €2,940,376 | €3,339,178 | +€398,803 | +13.6% |
| Plant, machinery and equipment | 23 | €2,546,503 | €2,712,954 | +€166,451 | +6.5% |
| Furniture and vehicles | 24 | €155,931 | €157,775 | +€1,844 | +1.2% |
| Other tangible fixed assets | 26 | €237,941 | €428,449 | +€190,508 | +80.1% |
| Assets under construction and advance payments | 27 | - | €40,000 | +€40,000 | |
| Financial fixed assets | 28 | €1,367 | €1,367 | = | 0.0% |
| Current assets | 29/58 | €2,925,600 | €3,228,346 | +€302,747 | +10.3% |
| Amounts receivable after more than one year | 29 | €2,769 | - | -€2,769 | |
| Trade receivables | 290 | €2,769 | - | -€2,769 | |
| Stocks and contracts in progress | 3 | €4,543 | €4,543 | = | 0.0% |
| Stocks | 30/36 | €4,543 | €4,543 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €539,514 | €546,507 | +€6,993 | +1.3% |
| Trade receivables | 40 | €513,085 | €509,686 | -€3,399 | -0.7% |
| Other amounts receivable | 41 | €26,429 | €36,821 | +€10,392 | +39.3% |
| Current investments | 50/53 | €750,000 | - | -€750,000 | |
| Cash at bank and in hand | 54/58 | €1,584,554 | €2,566,434 | +€981,881 | +62.0% |
| Deferred charges and accrued income | 490/1 | €44,220 | €110,862 | +€66,642 | +150.7% |
| Total equity and liabilities | 10/49 | €5,867,342 | €6,568,892 | +€701,550 | +12.0% |
| Equity | 10/15 | €4,645,163 | €5,411,554 | +€766,391 | +16.5% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €4,575,163 | €5,341,554 | +€766,391 | +16.8% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,133,271 | €1,086,961 | -€46,310 | -4.1% |
| Distributable reserves | 133 | €3,434,892 | €4,247,593 | +€812,701 | +23.7% |
| Amounts payable | 17/49 | €1,222,179 | €1,157,338 | -€64,841 | -5.3% |
| Amounts payable after more than one year | 17 | €197,636 | €141,133 | -€56,504 | -28.6% |
| Financial debts | 170/4 | €197,636 | €141,133 | -€56,504 | -28.6% |
| Amounts payable within one year | 42/48 | €973,835 | €1,016,081 | +€42,246 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €395,698 | €245,028 | -€150,669 | -38.1% |
| Financial debts | 43 | €1,629 | €4,433 | +€2,804 | +172.1% |
| Credit institutions | 430/8 | €1,629 | €4,433 | +€2,804 | +172.1% |
| Trade debts | 44 | €495,221 | €532,216 | +€36,994 | +7.5% |
| Suppliers | 440/4 | €495,221 | €532,216 | +€36,994 | +7.5% |
| Advances received on contracts in progress | 46 | €5,894 | €64,956 | +€59,062 | +1002.0% |
| Taxes, remuneration and social security | 45 | €65,750 | €91,847 | +€26,097 | +39.7% |
| Taxes | 450/3 | €14,096 | €38,397 | +€24,301 | +172.4% |
| Remuneration and social security | 454/9 | €51,655 | €53,450 | +€1,796 | +3.5% |
| Other amounts payable | 47/48 | €9,643 | €77,601 | +€67,958 | +704.8% |
| Accrued charges and deferred income | 492/3 | €50,707 | €124 | -€50,583 | -99.8% |
| Turnover | 70 | €7,739,499 | €7,319,215 | -€420,284 | -5.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,941,109 | €4,973,560 | +€32,451 | +0.7% |
| Remuneration, social security and pensions | 62 | €503,210 | €537,192 | +€33,982 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €762,184 | €977,758 | +€215,574 | +28.3% |
| Other operating charges | 640/8 | €16,241 | €40,981 | +€24,739 | +152.3% |
| Gross operating margin | 9900 | €2,821,654 | €2,528,886 | -€292,768 | -10.4% |
| Operating profit (loss) | 9901 | €1,540,018 | €972,955 | -€567,063 | -36.8% |
| Financial income | 75/76B | €43,375 | €43,256 | -€119 | -0.3% |
| Recurring financial income | 75 | €43,375 | €43,256 | -€119 | -0.3% |
| Financial charges | 65/66B | €27,260 | €20,874 | -€6,386 | -23.4% |
| Recurring financial charges | 65 | €27,260 | €20,874 | -€6,386 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €1,556,133 | €995,337 | -€560,797 | -36.0% |
| Income taxes | 67/77 | €377,942 | €228,946 | -€148,996 | -39.4% |
| Profit (loss) for the period | 9904 | €1,178,191 | €766,391 | -€411,800 | -35.0% |
| Transfer from tax-exempt reserves | 789 | - | €362,060 | +€362,060 | |
| Transfer to tax-exempt reserves | 689 | €210,500 | €315,750 | +€105,250 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €967,691 | €812,701 | -€154,990 | -16.0% |
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 5 October 2026 via checked.be.