ARTOR: 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.
ARTOR
Largest movements
- Receivables within one year +€14,939
up €14,939, from €0 to €14,939
of which Trade receivables: +€14,939
- Debts after one year -€65,299
down €65,299 (-39.5%), from €165,495 to €100,196
of which Financial debts: -€64,269
- Profit (loss) carried forward +€64,429
up €64,429 (+16.7%), from €385,315 to €449,744
- Other debts +€23,779
up €23,779 (+243.9%), from €9,750 to €33,529
- Tax, wage and social debts -€11,594
down €11,594 (-22.9%), from €50,632 to €39,039
of which Remuneration and social security: -€21,843
- Gross operating margin +€27,510
up €27,510 (+31.0%), from €88,799 to €116,309
- Taxes +€8,094
up €8,094 (+52.6%), from €15,392 to €23,486
- Financial charges -€3,216
down €3,216 (-17.3%), from €18,572 to €15,356
- Depreciation -€1,232
down €1,232 (-11.5%), from €10,752 to €9,520
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 | €1,066,397 | €1,075,046 | +€8,649 | +0.8% |
| Fixed assets | 21/28 | €1,064,701 | €1,055,181 | -€9,520 | -0.9% |
| Tangible fixed assets | 22/27 | €343,276 | €333,756 | -€9,520 | -2.8% |
| Land and buildings | 22 | €343,276 | €333,756 | -€9,520 | -2.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €721,425 | €721,425 | = | 0.0% |
| Current assets | 29/58 | €1,696 | €19,865 | +€18,169 | +1071.2% |
| Amounts receivable within one year | 40/41 | €0 | €14,939 | +€14,939 | |
| Trade receivables | 40 | €0 | €14,939 | +€14,939 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €83 | €4,327 | +€4,244 | +5092.2% |
| Deferred charges and accrued income | 490/1 | €1,613 | €600 | -€1,013 | -62.8% |
| Total equity and liabilities | 10/49 | €1,066,397 | €1,075,046 | +€8,649 | +0.8% |
| Equity | 10/15 | €575,675 | €640,104 | +€64,429 | +11.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €184,160 | €184,160 | = | 0.0% |
| Distributable reserves | 133 | €184,160 | €184,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | €385,315 | €449,744 | +€64,429 | +16.7% |
| Amounts payable | 17/49 | €490,722 | €434,942 | -€55,780 | -11.4% |
| Amounts payable after more than one year | 17 | €165,495 | €100,196 | -€65,299 | -39.5% |
| Financial debts | 170/4 | €139,465 | €75,196 | -€64,269 | -46.1% |
| Other amounts payable | 178/9 | €26,030 | €25,000 | -€1,030 | -4.0% |
| Amounts payable within one year | 42/48 | €325,227 | €334,693 | +€9,466 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €63,066 | €64,269 | +€1,203 | +1.9% |
| Financial debts | 43 | €198,192 | €197,261 | -€931 | -0.5% |
| Credit institutions | 430/8 | €198,192 | €197,261 | -€931 | -0.5% |
| Trade debts | 44 | €3,586 | €596 | -€2,990 | -83.4% |
| Suppliers | 440/4 | €3,586 | €596 | -€2,990 | -83.4% |
| Taxes, remuneration and social security | 45 | €50,632 | €39,039 | -€11,594 | -22.9% |
| Taxes | 450/3 | €28,790 | €39,039 | +€10,249 | +35.6% |
| Remuneration and social security | 454/9 | €21,843 | €0 | -€21,843 | -100.0% |
| Other amounts payable | 47/48 | €9,750 | €33,529 | +€23,779 | +243.9% |
| Accrued charges and deferred income | 492/3 | - | €53 | +€53 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,752 | €9,520 | -€1,232 | -11.5% |
| Other operating charges | 640/8 | €3,276 | €3,518 | +€243 | +7.4% |
| Gross operating margin | 9900 | €88,799 | €116,309 | +€27,510 | +31.0% |
| Operating profit (loss) | 9901 | €74,772 | €103,271 | +€28,499 | +38.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €18,572 | €15,356 | -€3,216 | -17.3% |
| Recurring financial charges | 65 | €18,572 | €15,356 | -€3,216 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €56,199 | €87,915 | +€31,716 | +56.4% |
| Income taxes | 67/77 | €15,392 | €23,486 | +€8,094 | +52.6% |
| Profit (loss) for the period | 9904 | €40,807 | €64,429 | +€23,622 | +57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,807 | €64,429 | +€23,622 | +57.9% |
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 12 October 2026 via checked.be.