ARTOFACT: 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.
ARTOFACT
Largest movements
- Receivables within one year -€19,993
down €19,993 (-63.8%), from €31,326 to €11,334
of which Trade receivables: -€24,205
- Cash -€8,656
down €8,656 (-31.7%), from €27,349 to €18,692
mainly Other debts (-€21,565) and Tax, wage and social debts (-€6,813)
- Other debts -€21,565
down €21,565 (-91.4%), from €23,600 to €2,035
- Tax, wage and social debts -€6,813
down €6,813 (-100%), from €6,813 to €0
- Gross operating margin -€37,827
down €37,827 (-83.3%), from €45,419 to €7,592
- Taxes -€7,928
down €7,928 (-89.4%), from €8,864 to €937
- Depreciation +€1,843
up €1,843 (+54.9%), from €3,358 to €5,201
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 | €77,576 | €48,501 | -€29,075 | -37.5% |
| Fixed assets | 21/28 | €17,481 | €16,984 | -€497 | -2.8% |
| Tangible fixed assets | 22/27 | €17,481 | €16,984 | -€497 | -2.8% |
| Plant, machinery and equipment | 23 | €1,346 | €3,343 | +€1,997 | +148% |
| Furniture and vehicles | 24 | €3,589 | €1,974 | -€1,615 | -45.0% |
| Other tangible fixed assets | 26 | €12,546 | €11,667 | -€878 | -7.0% |
| Current assets | 29/58 | €60,095 | €31,517 | -€28,578 | -47.6% |
| Amounts receivable within one year | 40/41 | €31,326 | €11,334 | -€19,993 | -63.8% |
| Trade receivables | 40 | €24,326 | €121 | -€24,205 | -99.5% |
| Other amounts receivable | 41 | €7,000 | €11,213 | +€4,213 | +60.2% |
| Cash at bank and in hand | 54/58 | €27,349 | €18,692 | -€8,656 | -31.7% |
| Deferred charges and accrued income | 490/1 | €1,420 | €1,491 | +€71 | +5.0% |
| Total equity and liabilities | 10/49 | €77,576 | €48,501 | -€29,075 | -37.5% |
| Equity | 10/15 | €45,883 | €45,756 | -€127 | -0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,283 | €27,156 | -€127 | -0.5% |
| Tax-exempt reserves | 132 | €102 | €102 | = | 0.0% |
| Distributable reserves | 133 | €27,181 | €27,053 | -€127 | -0.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €31,693 | €2,745 | -€28,948 | -91.3% |
| Amounts payable within one year | 42/48 | €31,693 | €2,745 | -€28,948 | -91.3% |
| Financial debts | 43 | €768 | €0 | -€768 | -100% |
| Credit institutions | 430/8 | €768 | €0 | -€768 | -100% |
| Trade debts | 44 | €512 | €710 | +€198 | +38.7% |
| Suppliers | 440/4 | €512 | €710 | +€198 | +38.7% |
| Taxes, remuneration and social security | 45 | €6,813 | €0 | -€6,813 | -100% |
| Taxes | 450/3 | €6,813 | €0 | -€6,813 | -100% |
| Other amounts payable | 47/48 | €23,600 | €2,035 | -€21,565 | -91.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,358 | €5,201 | +€1,843 | +54.9% |
| Other operating charges | 640/8 | €1,308 | €1,339 | +€31 | +2.3% |
| Gross operating margin | 9900 | €45,419 | €7,592 | -€37,827 | -83.3% |
| Operating profit (loss) | 9901 | €40,753 | €1,053 | -€39,701 | -97.4% |
| Financial income | 75/76B | €50 | €0 | -€50 | -100% |
| Recurring financial income | 75 | €50 | €0 | -€50 | -100% |
| Financial charges | 65/66B | €154 | €243 | +€89 | +57.7% |
| Recurring financial charges | 65 | €154 | €243 | +€89 | +57.7% |
| Profit (loss) for the period before taxes | 9903 | €40,649 | €809 | -€39,840 | -98.0% |
| Income taxes | 67/77 | €8,864 | €937 | -€7,928 | -89.4% |
| Profit (loss) for the period | 9904 | €31,785 | -€127 | -€31,912 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,785 | -€127 | -€31,912 |
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 17 October 2026 via checked.be.