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.
ARTO
Largest movements
- Tangible fixed assets -€21,274
down €21,274 (-9.4%), from €227,527 to €206,253
of which Furniture and vehicles: -€10,684
- Cash +€15,259
up €15,259 (+218.4%), from €6,986 to €22,245
mainly Depreciation (+€21,274) and Other debts (+€1,370)
- Receivables within one year +€8,618
up €8,618 (+854.3%), from €1,009 to €9,626
of which Trade receivables: +€9,000
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€20,595
up €20,595 (+482.6%), from €4,268 to €24,863
- Depreciation +€296
up €296 (+1.4%), from €20,979 to €21,274
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 | €235,522 | €238,145 | +€2,623 | +1.1% |
| Fixed assets | 21/28 | €227,527 | €206,253 | -€21,274 | -9.4% |
| Tangible fixed assets | 22/27 | €227,527 | €206,253 | -€21,274 | -9.4% |
| Land and buildings | 22 | €184,644 | €176,825 | -€7,819 | -4.2% |
| Plant, machinery and equipment | 23 | €4,533 | €1,762 | -€2,771 | -61.1% |
| Furniture and vehicles | 24 | €38,350 | €27,666 | -€10,684 | -27.9% |
| Current assets | 29/58 | €7,995 | €31,892 | +€23,897 | +298.9% |
| Amounts receivable within one year | 40/41 | €1,009 | €9,626 | +€8,618 | +854.3% |
| Trade receivables | 40 | - | €9,000 | +€9,000 | |
| Other amounts receivable | 41 | €1,009 | €626 | -€382 | -37.9% |
| Cash at bank and in hand | 54/58 | €6,986 | €22,245 | +€15,259 | +218.4% |
| Deferred charges and accrued income | 490/1 | - | €21 | +€21 | |
| Total equity and liabilities | 10/49 | €235,522 | €238,145 | +€2,623 | +1.1% |
| Equity | 10/15 | €93,817 | €95,183 | +€1,366 | +1.5% |
| Contributions | 10/11 | €6,605 | €6,605 | = | 0.0% |
| Reserves | 13 | €5,283 | €5,283 | = | 0.0% |
| Tax-exempt reserves | 132 | €333 | €333 | = | 0.0% |
| Distributable reserves | 133 | €4,950 | €4,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,929 | €83,294 | +€1,366 | +1.7% |
| Amounts payable | 17/49 | €141,705 | €142,962 | +€1,257 | +0.9% |
| Amounts payable within one year | 42/48 | €141,705 | €142,962 | +€1,257 | +0.9% |
| Trade debts | 44 | €861 | €1,278 | +€417 | +48.4% |
| Suppliers | 440/4 | €861 | €1,278 | +€417 | +48.4% |
| Taxes, remuneration and social security | 45 | €529 | - | -€529 | |
| Taxes | 450/3 | €529 | - | -€529 | |
| Other amounts payable | 47/48 | €140,315 | €141,684 | +€1,370 | +1.0% |
| Non-recurring operating income | 76A | €1,392 | - | -€1,392 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,979 | €21,274 | +€296 | +1.4% |
| Other operating charges | 640/8 | €2,021 | €2,139 | +€118 | +5.8% |
| Gross operating margin | 9900 | €4,268 | €24,863 | +€20,595 | +482.6% |
| Operating profit (loss) | 9901 | -€18,732 | €1,449 | +€20,181 | |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €79 | €83 | +€4 | +4.9% |
| Recurring financial charges | 65 | €79 | €83 | +€4 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | -€18,801 | €1,366 | +€20,166 | |
| Profit (loss) for the period | 9904 | -€18,801 | €1,366 | +€20,166 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,801 | €1,366 | +€20,166 |
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 8 October 2026 via checked.be.