ARTOBEL: what changed
Two financial 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.
ARTOBEL
Largest movements
- Tangible fixed assets -€21,395
down €21,395 (-10.7%), from €199,252 to €177,857
of which Land and buildings: -€17,853
- Debts after one year -€20,671
down €20,671 (-24.3%), from €85,012 to €64,341
- Profit (loss) carried forward -€9,762
down €9,762 (-23.8%), from €40,983 to €31,221
- Other debts +€6,879
up €6,879 (+5.4%), from €128,113 to €134,993
- Depreciation -€1,567
down €1,567 (-5.9%), from €26,550 to €24,983
- Gross operating margin -€1,432
down €1,432 (-6.3%), from €22,659 to €21,227
- Financial charges -€593
down €593 (-15.2%), from €3,900 to €3,308
- Other operating charges -€402
down €402 (-12.9%), from €3,106 to €2,704
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.
Derived cash bridge
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 | €331,048 | €308,682 | -€22,366 | -6.8% |
| Fixed assets | 21/28 | €324,252 | €302,857 | -€21,395 | -6.6% |
| Tangible fixed assets | 22/27 | €199,252 | €177,857 | -€21,395 | -10.7% |
| Land and buildings | 22 | €192,682 | €174,829 | -€17,853 | -9.3% |
| Plant, machinery and equipment | 23 | €6,570 | €3,029 | -€3,542 | -53.9% |
| Financial fixed assets | 28 | €125,000 | €125,000 | = | 0.0% |
| Current assets | 29/58 | €6,796 | €5,825 | -€971 | -14.3% |
| Amounts receivable within one year | 40/41 | €1,069 | €1,055 | -€14 | -1.3% |
| Trade receivables | 40 | €771 | €771 | = | 0.0% |
| Other amounts receivable | 41 | €298 | €284 | -€14 | -4.7% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,813 | €3,753 | -€1,060 | -22.0% |
| Deferred charges and accrued income | 490/1 | €664 | €767 | +€103 | +15.5% |
| Total equity and liabilities | 10/49 | €331,048 | €308,682 | -€22,366 | -6.8% |
| Equity | 10/15 | €95,543 | €85,781 | -€9,762 | -10.2% |
| Contributions | 10/11 | €49,600 | €49,600 | = | 0.0% |
| Reserves | 13 | €4,960 | €4,960 | = | 0.0% |
| Distributable reserves | 133 | €4,960 | €4,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,983 | €31,221 | -€9,762 | -23.8% |
| Amounts payable | 17/49 | €235,505 | €222,901 | -€12,604 | -5.4% |
| Amounts payable after more than one year | 17 | €85,012 | €64,341 | -€20,671 | -24.3% |
| Financial debts | 170/4 | €85,012 | €64,341 | -€20,671 | -24.3% |
| Amounts payable within one year | 42/48 | €149,664 | €158,010 | +€8,346 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €21,304 | €22,349 | +€1,045 | +4.9% |
| Trade debts | 44 | €209 | €323 | +€114 | +54.4% |
| Suppliers | 440/4 | €209 | €323 | +€114 | +54.4% |
| Taxes, remuneration and social security | 45 | €37 | €345 | +€308 | +829% |
| Taxes | 450/3 | €37 | €345 | +€308 | +829% |
| Other amounts payable | 47/48 | €128,113 | €134,993 | +€6,879 | +5.4% |
| Accrued charges and deferred income | 492/3 | €829 | €550 | -€279 | -33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,550 | €24,983 | -€1,567 | -5.9% |
| Other operating charges | 640/8 | €3,106 | €2,704 | -€402 | -12.9% |
| Gross operating margin | 9900 | €22,659 | €21,227 | -€1,432 | -6.3% |
| Operating profit (loss) | 9901 | -€6,998 | -€6,461 | +€537 | +7.7% |
| Financial income | 75/76B | €71 | €9 | -€63 | -88.0% |
| Recurring financial income | 75 | €71 | €9 | -€63 | -88.0% |
| Financial charges | 65/66B | €3,900 | €3,308 | -€593 | -15.2% |
| Recurring financial charges | 65 | €3,900 | €3,308 | -€593 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,827 | -€9,760 | +€1,067 | +9.9% |
| Income taxes | 67/77 | - | €2 | +€2 | |
| Profit (loss) for the period | 9904 | -€10,827 | -€9,762 | +€1,065 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,827 | -€9,762 | +€1,065 | +9.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.