ARTO 5: 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 5
Largest movements
- Cash +€17,214
up €17,214 (+110.0%), from €15,643 to €32,857
mainly Net result for the year (+€27,136) and Depreciation (+€15,987)
- Receivables within one year +€11,450
up €11,450 (+139.5%), from €8,207 to €19,657
of which Trade receivables: +€11,077
- Tangible fixed assets +€11,236
up €11,236 (+6.2%), from €180,344 to €191,580
of which Leasing and similar rights: +€15,152
- Profit (loss) carried forward +€27,136
up €27,136 (+198.3%), from €13,687 to €40,823
- Tax, wage and social debts +€7,561
up €7,561 (+75.1%), from €10,073 to €17,634
of which Taxes: +€6,537
- Other debts -€7,032
down €7,032 (-19.9%), from €35,405 to €28,373
- Debts after one year +€5,026
up €5,026 (+4.8%), from €105,512 to €110,539
of which Financial debts: +€5,026
- Current portion of long-term debt +€4,323
up €4,323 (+39.1%), from €11,068 to €15,390
- Gross operating margin +€39,228
up €39,228 (+96.1%), from €40,834 to €80,062
- Taxes +€13,246
up €13,246 (+503.6%), from €2,630 to €15,876
- Staff costs +€13,221
new in 2025: €13,221
- Depreciation +€5,663
up €5,663 (+54.9%), from €10,324 to €15,987
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 | €205,323 | €246,195 | +€40,872 | +19.9% |
| Fixed assets | 21/28 | €180,344 | €191,580 | +€11,236 | +6.2% |
| Tangible fixed assets | 22/27 | €180,344 | €191,580 | +€11,236 | +6.2% |
| Land and buildings | 22 | €151,557 | €146,974 | -€4,583 | -3.0% |
| Plant, machinery and equipment | 23 | €22,920 | €21,910 | -€1,010 | -4.4% |
| Furniture and vehicles | 24 | €725 | €2,402 | +€1,677 | +231.4% |
| Leasing and similar rights | 25 | €5,141 | €20,293 | +€15,152 | +294.7% |
| Current assets | 29/58 | €24,979 | €54,615 | +€29,636 | +118.6% |
| Amounts receivable within one year | 40/41 | €8,207 | €19,657 | +€11,450 | +139.5% |
| Trade receivables | 40 | €8,189 | €19,266 | +€11,077 | +135.3% |
| Other amounts receivable | 41 | €18 | €391 | +€373 | +2038.9% |
| Cash at bank and in hand | 54/58 | €15,643 | €32,857 | +€17,214 | +110.0% |
| Deferred charges and accrued income | 490/1 | €1,128 | €2,101 | +€972 | +86.2% |
| Total equity and liabilities | 10/49 | €205,323 | €246,195 | +€40,872 | +19.9% |
| Equity | 10/15 | €34,147 | €61,283 | +€27,136 | +79.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,687 | €40,823 | +€27,136 | +198.3% |
| Amounts payable | 17/49 | €171,175 | €184,911 | +€13,736 | +8.0% |
| Amounts payable after more than one year | 17 | €105,512 | €110,539 | +€5,026 | +4.8% |
| Financial debts | 170/4 | €89,012 | €94,039 | +€5,026 | +5.6% |
| Other amounts payable | 178/9 | €16,500 | €16,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €65,663 | €74,373 | +€8,710 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €11,068 | €15,390 | +€4,323 | +39.1% |
| Trade debts | 44 | €9,118 | €12,975 | +€3,858 | +42.3% |
| Suppliers | 440/4 | €9,118 | €12,975 | +€3,858 | +42.3% |
| Taxes, remuneration and social security | 45 | €10,073 | €17,634 | +€7,561 | +75.1% |
| Taxes | 450/3 | €8,573 | €15,110 | +€6,537 | +76.2% |
| Remuneration and social security | 454/9 | €1,500 | €2,524 | +€1,024 | +68.3% |
| Other amounts payable | 47/48 | €35,405 | €28,373 | -€7,032 | -19.9% |
| Remuneration, social security and pensions | 62 | - | €13,221 | +€13,221 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,324 | €15,987 | +€5,663 | +54.9% |
| Other operating charges | 640/8 | €3,624 | €4,057 | +€433 | +11.9% |
| Gross operating margin | 9900 | €40,834 | €80,062 | +€39,228 | +96.1% |
| Operating profit (loss) | 9901 | €26,886 | €46,798 | +€19,912 | +74.1% |
| Financial charges | 65/66B | €3,399 | €3,786 | +€387 | +11.4% |
| Recurring financial charges | 65 | €3,399 | €3,786 | +€387 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €23,487 | €43,012 | +€19,525 | +83.1% |
| Income taxes | 67/77 | €2,630 | €15,876 | +€13,246 | +503.6% |
| Profit (loss) for the period | 9904 | €20,857 | €27,136 | +€6,279 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,857 | €27,136 | +€6,279 | +30.1% |
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.