ARTRENO: 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.
ARTRENO
Largest movements
- Receivables within one year -€33,836
down €33,836 (-48.4%), from €69,841 to €36,005
of which Trade receivables: -€31,771
- Tangible fixed assets -€8,877
down €8,877 (-11.4%), from €77,986 to €69,109
- Cash +€7,312
up €7,312 (+6976.0%), from €105 to €7,417
mainly Receivables within one year (+€33,836) and Depreciation (+€8,877)
- Trade debts -€28,946
down €28,946 (-46.5%), from €62,201 to €33,254
- Debts after one year -€6,553
down €6,553 (-32.8%), from €19,961 to €13,408
- Other debts +€3,515
up €3,515 (+7.0%), from €50,074 to €53,589
- Profit (loss) carried forward -€2,373
down €2,373 (-21.5%), from -€11,020 to -€13,393
- Tax, wage and social debts -€2,140
down €2,140 (-79.5%), from €2,692 to €551
of which Taxes: -€2,140
- Gross operating margin +€18,493
up €18,493, from -€7,857 to €10,636
- Write-downs +€550
new in 2025: €550
- Financial charges -€303
down €303 (-19.2%), from €1,577 to €1,274
- Depreciation +€302
up €302 (+3.5%), from €8,575 to €8,877
- Other operating charges +€265
up €265 (+13.0%), from €2,044 to €2,309
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 | €149,012 | €112,613 | -€36,399 | -24.4% |
| Fixed assets | 21/28 | €78,239 | €69,109 | -€9,130 | -11.7% |
| Tangible fixed assets | 22/27 | €77,986 | €69,109 | -€8,877 | -11.4% |
| Land and buildings | 22 | €65,790 | €61,549 | -€4,240 | -6.4% |
| Plant, machinery and equipment | 23 | €1,263 | €653 | -€609 | -48.2% |
| Furniture and vehicles | 24 | €7,969 | €4,941 | -€3,028 | -38.0% |
| Leasing and similar rights | 25 | €2,964 | €1,965 | -€999 | -33.7% |
| Financial fixed assets | 28 | €253 | €0 | -€253 | -100.0% |
| Current assets | 29/58 | €70,774 | €43,504 | -€27,269 | -38.5% |
| Amounts receivable within one year | 40/41 | €69,841 | €36,005 | -€33,836 | -48.4% |
| Trade receivables | 40 | €67,776 | €36,005 | -€31,771 | -46.9% |
| Other amounts receivable | 41 | €2,065 | €0 | -€2,065 | -100.0% |
| Cash at bank and in hand | 54/58 | €105 | €7,417 | +€7,312 | +6976.0% |
| Deferred charges and accrued income | 490/1 | €828 | €82 | -€746 | -90.1% |
| Total equity and liabilities | 10/49 | €149,012 | €112,613 | -€36,399 | -24.4% |
| Equity | 10/15 | €7,631 | €5,258 | -€2,373 | -31.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51 | €51 | = | 0.0% |
| Non-distributable reserves | 130/1 | €51 | €51 | = | 0.0% |
| Reserves not available under the articles | 1311 | €51 | €51 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,020 | -€13,393 | -€2,373 | -21.5% |
| Amounts payable | 17/49 | €141,381 | €107,356 | -€34,025 | -24.1% |
| Amounts payable after more than one year | 17 | €19,961 | €13,408 | -€6,553 | -32.8% |
| Financial debts | 170/4 | €19,961 | €13,408 | -€6,553 | -32.8% |
| Amounts payable within one year | 42/48 | €121,420 | €93,948 | -€27,473 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €6,454 | €6,553 | +€99 | +1.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €62,201 | €33,254 | -€28,946 | -46.5% |
| Suppliers | 440/4 | €62,201 | €33,254 | -€28,946 | -46.5% |
| Taxes, remuneration and social security | 45 | €2,692 | €551 | -€2,140 | -79.5% |
| Taxes | 450/3 | €2,692 | €551 | -€2,140 | -79.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €50,074 | €53,589 | +€3,515 | +7.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,575 | €8,877 | +€302 | +3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €550 | +€550 | |
| Other operating charges | 640/8 | €2,044 | €2,309 | +€265 | +13.0% |
| Gross operating margin | 9900 | -€7,857 | €10,636 | +€18,493 | |
| Operating profit (loss) | 9901 | -€18,476 | -€1,100 | +€17,376 | +94.0% |
| Financial income | 75/76B | €0 | €1 | +€1 | +669.2% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +669.2% |
| Financial charges | 65/66B | €1,577 | €1,274 | -€303 | -19.2% |
| Recurring financial charges | 65 | €1,577 | €1,274 | -€303 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | -€20,053 | -€2,373 | +€17,679 | +88.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€20,053 | -€2,373 | +€17,679 | +88.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,053 | -€2,373 | +€17,679 | +88.2% |
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.