ARTORE: 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.
ARTORE
Largest movements
- Cash +€30,788
up €30,788 (+214.2%), from €14,371 to €45,158
mainly Net result for the year (+€82,505) and Depreciation (+€25,425)
- Intangible fixed assets -€14,264
down €14,264 (-13.2%), from €107,921 to €93,657
- Tangible fixed assets -€11,161
down €11,161 (-3.3%), from €339,971 to €328,810
of which Land and buildings: -€7,080
- Receivables within one year -€9,558
down €9,558 (-65.6%), from €14,563 to €5,005
of which Other amounts receivable: -€14,563
- Deferred charges and accrued income +€5,865
up €5,865 (+9.3%), from €63,273 to €69,138
- Reserves +€82,505
up €82,505 (+279.6%), from €29,511 to €112,016
- Trade debts -€44,388
down €44,388 (-59.0%), from €75,230 to €30,842
- Debts after one year -€34,244
down €34,244 (-10.3%), from €332,971 to €298,727
- Short-term financial debts -€18,316
down €18,316 (-68.5%), from €26,725 to €8,409
- Tax, wage and social debts +€17,459
up €17,459 (+51.4%), from €33,974 to €51,433
of which Taxes: +€17,300
- Gross operating margin +€85,000
up €85,000 (+23.0%), from €369,286 to €454,286
- Staff costs -€49,580
down €49,580 (-14.2%), from €349,990 to €300,410
- Taxes +€31,864
up €31,864 (+7296.3%), from €437 to €32,300
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 | €540,499 | €542,169 | +€1,670 | +0.3% |
| Fixed assets | 21/28 | €448,292 | €422,867 | -€25,425 | -5.7% |
| Intangible fixed assets | 21 | €107,921 | €93,657 | -€14,264 | -13.2% |
| Tangible fixed assets | 22/27 | €339,971 | €328,810 | -€11,161 | -3.3% |
| Land and buildings | 22 | €332,230 | €325,149 | -€7,080 | -2.1% |
| Furniture and vehicles | 24 | €6,398 | €3,661 | -€2,737 | -42.8% |
| Leasing and similar rights | 25 | €1,344 | €0 | -€1,344 | -100.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €92,207 | €119,302 | +€27,095 | +29.4% |
| Amounts receivable within one year | 40/41 | €14,563 | €5,005 | -€9,558 | -65.6% |
| Trade receivables | 40 | €0 | €5,005 | +€5,005 | |
| Other amounts receivable | 41 | €14,563 | €0 | -€14,563 | -100.0% |
| Cash at bank and in hand | 54/58 | €14,371 | €45,158 | +€30,788 | +214.2% |
| Deferred charges and accrued income | 490/1 | €63,273 | €69,138 | +€5,865 | +9.3% |
| Total equity and liabilities | 10/49 | €540,499 | €542,169 | +€1,670 | +0.3% |
| Equity | 10/15 | €31,511 | €114,016 | +€82,505 | +261.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €29,511 | €112,016 | +€82,505 | +279.6% |
| Distributable reserves | 133 | €29,511 | €112,016 | +€82,505 | +279.6% |
| Amounts payable | 17/49 | €508,988 | €428,154 | -€80,835 | -15.9% |
| Amounts payable after more than one year | 17 | €332,971 | €298,727 | -€34,244 | -10.3% |
| Financial debts | 170/4 | €332,971 | €298,727 | -€34,244 | -10.3% |
| Amounts payable within one year | 42/48 | €176,017 | €129,427 | -€46,590 | -26.5% |
| Current portion of amounts payable after more than one year | 42 | €34,995 | €34,244 | -€750 | -2.1% |
| Financial debts | 43 | €26,725 | €8,409 | -€18,316 | -68.5% |
| Credit institutions | 430/8 | €26,725 | €8,409 | -€18,316 | -68.5% |
| Trade debts | 44 | €75,230 | €30,842 | -€44,388 | -59.0% |
| Suppliers | 440/4 | €75,230 | €30,842 | -€44,388 | -59.0% |
| Taxes, remuneration and social security | 45 | €33,974 | €51,433 | +€17,459 | +51.4% |
| Taxes | 450/3 | €0 | €17,300 | +€17,300 | |
| Remuneration and social security | 454/9 | €33,974 | €34,132 | +€158 | +0.5% |
| Other amounts payable | 47/48 | €5,093 | €4,499 | -€594 | -11.7% |
| Remuneration, social security and pensions | 62 | €349,990 | €300,410 | -€49,580 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,592 | €25,425 | -€1,167 | -4.4% |
| Other operating charges | 640/8 | €2,046 | €1,916 | -€130 | -6.4% |
| Gross operating margin | 9900 | €369,286 | €454,286 | +€85,000 | +23.0% |
| Operating profit (loss) | 9901 | -€9,342 | €126,535 | +€135,877 | |
| Financial income | 75/76B | €8 | €3 | -€5 | -63.1% |
| Recurring financial income | 75 | €8 | €3 | -€5 | -63.1% |
| Financial charges | 65/66B | €12,025 | €11,733 | -€292 | -2.4% |
| Recurring financial charges | 65 | €12,025 | €11,733 | -€292 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | -€21,359 | €114,805 | +€136,164 | |
| Income taxes | 67/77 | €437 | €32,300 | +€31,864 | +7296.3% |
| Profit (loss) for the period | 9904 | -€21,795 | €82,505 | +€104,300 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,795 | €82,505 | +€104,300 |
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 3 October 2026 via checked.be.