Artopex: 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.
Artopex
Largest movements
- Receivables within one year +€138,034
up €138,034 (+7.9%), from €1.7m to €1.9m
of which Other amounts receivable: +€138,034
- Stocks and contracts -€120,612
down €120,612 (-11.2%), from €1.1m to €960,585
- Debts after one year +€47,501
up €47,501 (+5.4%), from €883,840 to €931,341
- Gross operating margin +€11,210
up €11,210 (+674.9%), from €1,661 to €12,872
- Financial charges -€4,231
down €4,231 (-6.4%), from €66,275 to €62,045
- Financial income +€627
up €627 (+1.5%), from €41,856 to €42,483
- Taxes +€586
up €586 (+101.7%), from €576 to €1,162
- Other operating charges -€313
down €313 (-46.9%), from €667 to €354
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 | €2,858,218 | €2,874,958 | +€16,739 | +0.6% |
| Fixed assets | 21/28 | €27,294 | €10,482 | -€16,812 | -61.6% |
| Tangible fixed assets | 22/27 | €22,394 | €5,582 | -€16,812 | -75.1% |
| Furniture and vehicles | 24 | €22,394 | €5,582 | -€16,812 | -75.1% |
| Financial fixed assets | 28 | €4,900 | €4,900 | = | 0.0% |
| Current assets | 29/58 | €2,830,924 | €2,864,476 | +€33,552 | +1.2% |
| Stocks and contracts in progress | 3 | €1,081,198 | €960,585 | -€120,612 | -11.2% |
| Stocks | 30/36 | €1,081,198 | €960,585 | -€120,612 | -11.2% |
| Amounts receivable within one year | 40/41 | €1,743,225 | €1,881,258 | +€138,034 | +7.9% |
| Trade receivables | 40 | €24,481 | €24,481 | = | 0.0% |
| Other amounts receivable | 41 | €1,718,744 | €1,856,778 | +€138,034 | +8.0% |
| Cash at bank and in hand | 54/58 | €6,502 | €22,632 | +€16,130 | +248.1% |
| Total equity and liabilities | 10/49 | €2,858,218 | €2,874,958 | +€16,739 | +0.6% |
| Equity | 10/15 | €1,966,105 | €1,941,087 | -€25,018 | -1.3% |
| Contributions | 10/11 | €137,000 | €137,000 | = | 0.0% |
| Capital | 10 | €137,000 | €137,000 | = | 0.0% |
| Issued capital | 100 | €137,000 | €137,000 | = | 0.0% |
| Reserves | 13 | €1,869,918 | €1,869,918 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,700 | €13,700 | = | 0.0% |
| Legal reserve | 130 | €13,700 | €13,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €61,691 | €61,691 | = | 0.0% |
| Distributable reserves | 133 | €1,794,527 | €1,794,527 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,813 | -€65,831 | -€25,018 | -61.3% |
| Amounts payable | 17/49 | €892,113 | €933,871 | +€41,758 | +4.7% |
| Amounts payable after more than one year | 17 | €883,840 | €931,341 | +€47,501 | +5.4% |
| Other amounts payable | 178/9 | €883,840 | €931,341 | +€47,501 | +5.4% |
| Amounts payable within one year | 42/48 | €8,273 | €2,530 | -€5,743 | -69.4% |
| Trade debts | 44 | €1,795 | €369 | -€1,426 | -79.4% |
| Suppliers | 440/4 | €1,795 | €369 | -€1,426 | -79.4% |
| Taxes, remuneration and social security | 45 | €6,478 | €2,161 | -€4,317 | -66.6% |
| Taxes | 450/3 | €6,478 | €2,161 | -€4,317 | -66.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,812 | €16,812 | = | 0.0% |
| Other operating charges | 640/8 | €667 | €354 | -€313 | -46.9% |
| Gross operating margin | 9900 | €1,661 | €12,872 | +€11,210 | +674.9% |
| Operating profit (loss) | 9901 | -€15,818 | -€4,294 | +€11,523 | +72.9% |
| Financial income | 75/76B | €41,856 | €42,483 | +€627 | +1.5% |
| Recurring financial income | 75 | €41,856 | €42,483 | +€627 | +1.5% |
| Financial charges | 65/66B | €66,275 | €62,045 | -€4,231 | -6.4% |
| Recurring financial charges | 65 | €66,275 | €62,045 | -€4,231 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€40,237 | -€23,856 | +€16,381 | +40.7% |
| Income taxes | 67/77 | €576 | €1,162 | +€586 | +101.7% |
| Profit (loss) for the period | 9904 | -€40,813 | -€25,018 | +€15,795 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,813 | -€25,018 | +€15,795 | +38.7% |
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.