ARTPOADOR: 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.
ARTPOADOR
Largest movements
- Receivables within one year +€26,347
up €26,347 (+62.5%), from €42,166 to €68,513
of which Other amounts receivable: +€35,338
- Tangible fixed assets -€21,874
down €21,874 (-61.6%), from €35,507 to €13,633
of which Assets under construction and advance payments: -€22,010
- Profit (loss) carried forward +€4,976
up €4,976 (+3.8%), from €129,237 to €134,213
- Trade debts -€2,869
down €2,869 (-85.0%), from €3,377 to €508
- Gross operating margin -€25,988
down €25,988 (-37.5%), from €69,366 to €43,378
- Financial charges +€21,674
up €21,674 (+1014.9%), from €2,135 to €23,809
of which Non-recurring financial charges: +€22,010
- Taxes -€6,231
down €6,231 (-33.6%), from €18,561 to €12,330
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 | €157,902 | €161,055 | +€3,152 | +2.0% |
| Fixed assets | 21/28 | €35,507 | €13,633 | -€21,874 | -61.6% |
| Tangible fixed assets | 22/27 | €35,507 | €13,633 | -€21,874 | -61.6% |
| Furniture and vehicles | 24 | €429 | €0 | -€429 | -100.0% |
| Other tangible fixed assets | 26 | €13,069 | €13,633 | +€564 | +4.3% |
| Assets under construction and advance payments | 27 | €22,010 | €0 | -€22,010 | -100.0% |
| Current assets | 29/58 | €122,395 | €147,422 | +€25,027 | +20.4% |
| Amounts receivable within one year | 40/41 | €42,166 | €68,513 | +€26,347 | +62.5% |
| Trade receivables | 40 | €23,461 | €14,470 | -€8,991 | -38.3% |
| Other amounts receivable | 41 | €18,705 | €54,043 | +€35,338 | +188.9% |
| Cash at bank and in hand | 54/58 | €78,774 | €77,300 | -€1,474 | -1.9% |
| Deferred charges and accrued income | 490/1 | €1,455 | €1,609 | +€154 | +10.6% |
| Total equity and liabilities | 10/49 | €157,902 | €161,055 | +€3,152 | +2.0% |
| Equity | 10/15 | €130,237 | €135,213 | +€4,976 | +3.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,237 | €134,213 | +€4,976 | +3.8% |
| Amounts payable | 17/49 | €27,665 | €25,842 | -€1,823 | -6.6% |
| Amounts payable within one year | 42/48 | €27,665 | €25,833 | -€1,832 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €7,603 | €7,590 | -€13 | -0.2% |
| Trade debts | 44 | €3,377 | €508 | -€2,869 | -85.0% |
| Suppliers | 440/4 | €3,377 | €508 | -€2,869 | -85.0% |
| Taxes, remuneration and social security | 45 | €16,686 | €17,735 | +€1,050 | +6.3% |
| Taxes | 450/3 | €16,686 | €16,235 | -€450 | -2.7% |
| Remuneration and social security | 454/9 | €0 | €1,500 | +€1,500 | |
| Accrued charges and deferred income | 492/3 | - | €8 | +€8 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,404 | €1,636 | +€231 | +16.5% |
| Other operating charges | 640/8 | €1,327 | €1,514 | +€186 | +14.0% |
| Gross operating margin | 9900 | €69,366 | €43,378 | -€25,988 | -37.5% |
| Operating profit (loss) | 9901 | €66,634 | €40,228 | -€26,406 | -39.6% |
| Financial income | 75/76B | €511 | €887 | +€375 | +73.4% |
| Recurring financial income | 75 | €511 | €887 | +€375 | +73.4% |
| Financial charges | 65/66B | €2,135 | €23,809 | +€21,674 | +1014.9% |
| Recurring financial charges | 65 | €2,135 | €1,800 | -€336 | -15.7% |
| Non-recurring financial charges | 66B | - | €22,010 | +€22,010 | |
| Profit (loss) for the period before taxes | 9903 | €65,010 | €17,306 | -€47,704 | -73.4% |
| Income taxes | 67/77 | €18,561 | €12,330 | -€6,231 | -33.6% |
| Profit (loss) for the period | 9904 | €46,448 | €4,976 | -€41,473 | -89.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,448 | €4,976 | -€41,473 | -89.3% |
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 5 October 2026 via checked.be.