Arts 44: 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.
Arts 44
Largest movements
- Cash +€3.4m
up €3.4m (+512.7%), from €662,669 to €4.1m
mainly Debts after one year (+€3.9m) and Current portion of long-term debt (+€1.0m)
- Tangible fixed assets -€613,042
down €613,042 (-2.9%), from €21.3m to €20.7m
of which Land and buildings: -€549,340
- Debts after one year +€3.9m
up €3.9m (+16.5%), from €23.8m to €27.7m
- Profit (loss) carried forward -€2.6m
down €2.6m (-51.7%), from -€4.9m to -€7.5m
- Current portion of long-term debt +€1.0m
new in 2023: €1.0m
- Trade debts -€700,856
down €700,856 (-68.0%), from €1.0m to €329,666
- Accrued charges and deferred income +€611,865
up €611,865 (+184.3%), from €331,972 to €943,837
- Gross operating margin +€1.6m
up €1.6m, from -€505,492 to €1.0m
- Financial charges +€1.3m
up €1.3m (+100.8%), from €1.3m to €2.7m
- Other operating charges +€96,107
up €96,107 (+28.0%), from €342,865 to €438,972
- Financial income -€77,676
down €77,676 (-37.0%), from €209,928 to €132,251
- Depreciation +€15,889
up €15,889 (+2.7%), from €595,982 to €611,871
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,179,012 | €25,845,263 | +€2.7m | +11.5% |
| Fixed assets | 21/28 | €21,334,151 | €20,721,109 | -€613,042 | -2.9% |
| Tangible fixed assets | 22/27 | €21,334,151 | €20,721,109 | -€613,042 | -2.9% |
| Land and buildings | 22 | €20,984,805 | €20,435,465 | -€549,340 | -2.6% |
| Furniture and vehicles | 24 | €349,346 | €285,644 | -€63,702 | -18.2% |
| Current assets | 29/58 | €1,844,861 | €5,124,154 | +€3.3m | +177.8% |
| Amounts receivable within one year | 40/41 | €1,146,854 | €992,550 | -€154,304 | -13.5% |
| Trade receivables | 40 | €224,033 | €247,198 | +€23,165 | +10.3% |
| Other amounts receivable | 41 | €922,821 | €745,353 | -€177,469 | -19.2% |
| Cash at bank and in hand | 54/58 | €662,669 | €4,060,071 | +€3.4m | +512.7% |
| Deferred charges and accrued income | 490/1 | €35,338 | €71,532 | +€36,195 | +102.4% |
| Total equity and liabilities | 10/49 | €23,179,012 | €25,845,263 | +€2.7m | +11.5% |
| Equity | 10/15 | -€2,343,344 | -€4,899,897 | -€2.6m | -109.1% |
| Contributions | 10/11 | €2,600,000 | €2,600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,943,344 | -€7,499,897 | -€2.6m | -51.7% |
| Amounts payable | 17/49 | €25,522,355 | €30,745,160 | +€5.2m | +20.5% |
| Amounts payable after more than one year | 17 | €23,757,300 | €27,688,185 | +€3.9m | +16.5% |
| Financial debts | 170/4 | €23,757,300 | €27,688,185 | +€3.9m | +16.5% |
| Amounts payable within one year | 42/48 | €1,433,083 | €2,113,138 | +€680,055 | +47.5% |
| Current portion of amounts payable after more than one year | 42 | - | €1,000,000 | +€1.0m | |
| Trade debts | 44 | €1,030,522 | €329,666 | -€700,856 | -68.0% |
| Suppliers | 440/4 | €1,030,522 | €329,666 | -€700,856 | -68.0% |
| Advances received on contracts in progress | 46 | €398,368 | €600,002 | +€201,634 | +50.6% |
| Taxes, remuneration and social security | 45 | €4,193 | €172,506 | +€168,313 | +4014.5% |
| Taxes | 450/3 | €4,193 | €172,506 | +€168,313 | +4014.5% |
| Other amounts payable | 47/48 | - | €10,964 | +€10,964 | |
| Accrued charges and deferred income | 492/3 | €331,972 | €943,837 | +€611,865 | +184.3% |
| Non-recurring operating income | 76A | €767 | - | -€767 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €595,982 | €611,871 | +€15,889 | +2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €29,726 | €29,726 | = | 0.0% |
| Other operating charges | 640/8 | €342,865 | €438,972 | +€96,107 | +28.0% |
| Gross operating margin | 9900 | -€505,492 | €1,044,715 | +€1.6m | |
| Operating profit (loss) | 9901 | -€1,474,065 | -€35,854 | +€1.4m | +97.6% |
| Financial income | 75/76B | €209,928 | €132,251 | -€77,676 | -37.0% |
| Recurring financial income | 75 | €209,928 | €132,251 | -€77,676 | -37.0% |
| Financial charges | 65/66B | €1,320,602 | €2,652,193 | +€1.3m | +100.8% |
| Recurring financial charges | 65 | €1,320,602 | €2,652,193 | +€1.3m | +100.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,584,740 | -€2,555,796 | +€28,944 | +1.1% |
| Income taxes | 67/77 | - | €758 | +€758 | |
| Profit (loss) for the period | 9904 | -€2,584,740 | -€2,556,553 | +€28,186 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,584,740 | -€2,556,553 | +€28,186 | +1.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.