ARTRUN: 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.
What changed
ARTRUN
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€13,956
2024 · -€13,223-€733
Equity
-€45,442
2024 · -€31,487-€13,956
Cash
€2,909
2024 · €1,486+€1,423
Balance sheet total
€1.1m
2024 · €1.1m+€10,620
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€36,820
up €36,820 (+3.5%), from €1.1m to €1.1m
- Profit (loss) carried forward -€13,956
down €13,956 (-8.4%), from -€166,159 to -€180,115
- Debts after one year -€12,773
down €12,773 (-74.8%), from €17,068 to €4,295
Income statement
- Gross operating margin +€11,739
up €11,739 (+41.9%), from €28,014 to €39,753
- Depreciation +€10,594
up €10,594 (+29.9%), from €35,399 to €45,993
- Other operating charges +€1,663
up €1,663 (+34.0%), from €4,895 to €6,558
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.
Result 2024
-€13,223
Gross operating margin
+€11,739
Depreciation
-€10,594
Other operating charges
-€1,663
Financial income
-€0
Financial charges
+€149
Taxes
-€363
Result 2025
-€13,956
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€61,510
Investment
-€47,483
Financing
-€12,604
Cash 2024
€1,486
From operations (derived)
+€61,510
Net result for the year
-€13,956
Depreciation
+€45,993
Receivables within one year
-€7,385
Deferred charges and accrued income
-€323
Trade debts
-€344
Tax, wage and social debts
+€768
Other debts
+€36,820
Accrued charges and deferred income
-€64
Investment (derived)
-€47,483
Investment in fixed assets (net)
-€47,483
Financing
-€12,604
Debts after one year
-€12,773
Current portion of long-term debt
+€168
Cash 2025
€2,909
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,054,324 | €1,064,943 | +€10,620 | +1.0% |
| Fixed assets | 21/28 | €1,008,030 | €1,009,520 | +€1,490 | +0.1% |
| Tangible fixed assets | 22/27 | €982,305 | €983,795 | +€1,490 | +0.2% |
| Land and buildings | 22 | €848,984 | €825,323 | -€23,661 | -2.8% |
| Plant, machinery and equipment | 23 | €15 | - | -€15 | |
| Furniture and vehicles | 24 | €14,365 | €48,866 | +€34,501 | +240% |
| Other tangible fixed assets | 26 | €118,942 | €109,607 | -€9,336 | -7.8% |
| Financial fixed assets | 28 | €25,725 | €25,725 | = | 0.0% |
| Current assets | 29/58 | €46,293 | €55,423 | +€9,130 | +19.7% |
| Amounts receivable within one year | 40/41 | €43,461 | €50,845 | +€7,385 | +17.0% |
| Trade receivables | 40 | €42,948 | €49,565 | +€6,617 | +15.4% |
| Other amounts receivable | 41 | €512 | €1,280 | +€768 | +150% |
| Cash at bank and in hand | 54/58 | €1,486 | €2,909 | +€1,423 | +95.7% |
| Deferred charges and accrued income | 490/1 | €1,346 | €1,669 | +€323 | +24.0% |
| Total equity and liabilities | 10/49 | €1,054,324 | €1,064,943 | +€10,620 | +1.0% |
| Equity | 10/15 | -€31,487 | -€45,442 | -€13,956 | -44.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €122,272 | €122,272 | = | 0.0% |
| Distributable reserves | 133 | €122,272 | €122,272 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,159 | -€180,115 | -€13,956 | -8.4% |
| Amounts payable | 17/49 | €1,085,810 | €1,110,386 | +€24,575 | +2.3% |
| Amounts payable after more than one year | 17 | €17,068 | €4,295 | -€12,773 | -74.8% |
| Financial debts | 170/4 | €17,068 | €4,295 | -€12,773 | -74.8% |
| Amounts payable within one year | 42/48 | €1,068,678 | €1,106,090 | +€37,412 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €12,604 | €12,773 | +€168 | +1.3% |
| Trade debts | 44 | €3,615 | €3,271 | -€344 | -9.5% |
| Suppliers | 440/4 | €3,615 | €3,271 | -€344 | -9.5% |
| Taxes, remuneration and social security | 45 | €394 | €1,162 | +€768 | +195% |
| Taxes | 450/3 | €394 | €1,162 | +€768 | +195% |
| Other amounts payable | 47/48 | €1,052,065 | €1,088,885 | +€36,820 | +3.5% |
| Accrued charges and deferred income | 492/3 | €64 | - | -€64 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,399 | €45,993 | +€10,594 | +29.9% |
| Other operating charges | 640/8 | €4,895 | €6,558 | +€1,663 | +34.0% |
| Gross operating margin | 9900 | €28,014 | €39,753 | +€11,739 | +41.9% |
| Operating profit (loss) | 9901 | -€12,280 | -€12,798 | -€518 | -4.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -95.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -95.7% |
| Financial charges | 65/66B | €644 | €495 | -€149 | -23.2% |
| Recurring financial charges | 65 | €644 | €495 | -€149 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,924 | -€13,293 | -€369 | -2.9% |
| Income taxes | 67/77 | €300 | €663 | +€363 | +121% |
| Profit (loss) for the period | 9904 | -€13,223 | -€13,956 | -€733 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,223 | -€13,956 | -€733 | -5.5% |
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 15 October 2026 via checked.be.