ARTRADA: 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.
ARTRADA
Largest movements
- Receivables within one year -€94,017
down €94,017 (-50.5%), from €186,113 to €92,096
of which Trade receivables: -€88,698
- Stocks and contracts +€27,957
up €27,957 (+207.1%), from €13,500 to €41,457
of which Stocks: +€27,957
- Cash +€27,053
up €27,053 (+941.5%), from €2,873 to €29,927
mainly Receivables within one year (+€94,017) and Other debts (+€65,113)
- Tangible fixed assets -€21,347
down €21,347 (-25.4%), from €83,947 to €62,599
of which Furniture and vehicles: -€16,778
- Other debts +€65,113
up €65,113 (+480.0%), from €13,565 to €78,678
- Reserves -€52,799
down €52,799 (-74.8%), from €70,609 to €17,811
- Short-term financial debts -€30,000
down €30,000 (-37.5%), from €80,000 to €50,000
- Trade debts -€17,604
down €17,604 (-45.3%), from €38,898 to €21,293
- Debts after one year -€15,572
down €15,572 (-46.7%), from €33,372 to €17,799
- Depreciation +€6,187
up €6,187 (+40.2%), from €15,408 to €21,594
- Taxes -€2,206
down €2,206 (-26.6%), from €8,279 to €6,073
- Financial charges +€1,877
up €1,877 (+44.1%), from €4,256 to €6,133
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 | €288,208 | €229,576 | -€58,632 | -20.3% |
| Fixed assets | 21/28 | €83,947 | €64,247 | -€19,699 | -23.5% |
| Intangible fixed assets | 21 | - | €1,648 | +€1,648 | |
| Tangible fixed assets | 22/27 | €83,947 | €62,599 | -€21,347 | -25.4% |
| Plant, machinery and equipment | 23 | €7,418 | €5,815 | -€1,603 | -21.6% |
| Furniture and vehicles | 24 | €64,317 | €47,539 | -€16,778 | -26.1% |
| Other tangible fixed assets | 26 | €12,211 | €9,245 | -€2,966 | -24.3% |
| Current assets | 29/58 | €204,261 | €165,329 | -€38,932 | -19.1% |
| Stocks and contracts in progress | 3 | €13,500 | €41,457 | +€27,957 | +207.1% |
| Stocks | 30/36 | €13,500 | €41,457 | +€27,957 | +207.1% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €186,113 | €92,096 | -€94,017 | -50.5% |
| Trade receivables | 40 | €164,573 | €75,874 | -€88,698 | -53.9% |
| Other amounts receivable | 41 | €21,541 | €16,222 | -€5,319 | -24.7% |
| Cash at bank and in hand | 54/58 | €2,873 | €29,927 | +€27,053 | +941.5% |
| Deferred charges and accrued income | 490/1 | €1,775 | €1,849 | +€74 | +4.2% |
| Total equity and liabilities | 10/49 | €288,208 | €229,576 | -€58,632 | -20.3% |
| Equity | 10/15 | €89,209 | €36,411 | -€52,799 | -59.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,609 | €17,811 | -€52,799 | -74.8% |
| Distributable reserves | 133 | €70,609 | €17,811 | -€52,799 | -74.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €198,998 | €193,165 | -€5,833 | -2.9% |
| Amounts payable after more than one year | 17 | €33,372 | €17,799 | -€15,572 | -46.7% |
| Financial debts | 170/4 | €33,372 | €17,799 | -€15,572 | -46.7% |
| Amounts payable within one year | 42/48 | €165,485 | €175,366 | +€9,881 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €26,065 | €15,556 | -€10,510 | -40.3% |
| Financial debts | 43 | €80,000 | €50,000 | -€30,000 | -37.5% |
| Credit institutions | 430/8 | €80,000 | €50,000 | -€30,000 | -37.5% |
| Trade debts | 44 | €38,898 | €21,293 | -€17,604 | -45.3% |
| Suppliers | 440/4 | €38,898 | €21,293 | -€17,604 | -45.3% |
| Taxes, remuneration and social security | 45 | €6,957 | €9,839 | +€2,882 | +41.4% |
| Taxes | 450/3 | €4,567 | €6,198 | +€1,632 | +35.7% |
| Remuneration and social security | 454/9 | €2,390 | €3,640 | +€1,250 | +52.3% |
| Other amounts payable | 47/48 | €13,565 | €78,678 | +€65,113 | +480.0% |
| Accrued charges and deferred income | 492/3 | €141 | €0 | -€141 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,408 | €21,594 | +€6,187 | +40.2% |
| Other operating charges | 640/8 | €548 | €752 | +€205 | +37.4% |
| Gross operating margin | 9900 | €51,975 | €52,303 | +€328 | +0.6% |
| Operating profit (loss) | 9901 | €36,020 | €29,956 | -€6,064 | -16.8% |
| Financial income | 75/76B | €1 | €61 | +€59 | +4224.3% |
| Recurring financial income | 75 | €1 | €61 | +€59 | +4224.3% |
| Financial charges | 65/66B | €4,256 | €6,133 | +€1,877 | +44.1% |
| Recurring financial charges | 65 | €4,256 | €6,133 | +€1,877 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | €31,765 | €23,884 | -€7,882 | -24.8% |
| Income taxes | 67/77 | €8,279 | €6,073 | -€2,206 | -26.6% |
| Profit (loss) for the period | 9904 | €23,486 | €17,811 | -€5,676 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,486 | €17,811 | -€5,676 | -24.2% |
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 9 October 2026 via checked.be.