ARTSON: 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.
ARTSON
Largest movements
- Cash +€34,759
up €34,759 (+304%), from €11,417 to €46,176
mainly Short-term financial debts (+€49,000) and Depreciation (+€31,186)
- Tangible fixed assets -€31,186
down €31,186 (-21.9%), from €142,332 to €111,146
of which Other tangible fixed assets: -€16,530
- Stocks and contracts -€16,456
down €16,456 (-5.8%), from €283,435 to €266,979
- Deferred charges and accrued income -€15,210
down €15,210 (-55.9%), from €27,188 to €11,978
- Receivables within one year +€12,724
up €12,724 (+56.2%), from €22,621 to €35,345
of which Other amounts receivable: +€24,803
- Short-term financial debts +€49,000
up €49,000 (+35.8%), from €137,000 to €186,000
- Debts after one year -€31,208
down €31,208 (-100%), from €31,208 to €0
- Profit (loss) carried forward -€26,699
down €26,699 (-12.2%), from -€218,888 to -€245,587
- Tax, wage and social debts -€20,407
down €20,407 (-30.5%), from €67,002 to €46,595
of which Taxes: -€14,372
- Trade debts +€13,242
up €13,242 (+34.7%), from €38,209 to €51,451
- Gross operating margin -€9,616
down €9,616 (-4.3%), from €221,801 to €212,185
- Depreciation -€5,325
down €5,325 (-14.6%), from €36,511 to €31,186
- Staff costs -€3,591
down €3,591 (-1.9%), from €187,198 to €183,607
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €487,628 | €472,259 | -€15,369 | -3.2% |
| Fixed assets | 21/28 | €142,967 | €111,781 | -€31,186 | -21.8% |
| Tangible fixed assets | 22/27 | €142,332 | €111,146 | -€31,186 | -21.9% |
| Plant, machinery and equipment | 23 | €26,436 | €22,197 | -€4,240 | -16.0% |
| Furniture and vehicles | 24 | €20,074 | €9,658 | -€10,416 | -51.9% |
| Other tangible fixed assets | 26 | €95,821 | €79,292 | -€16,530 | -17.3% |
| Financial fixed assets | 28 | €635 | €635 | = | 0.0% |
| Current assets | 29/58 | €344,661 | €360,478 | +€15,817 | +4.6% |
| Stocks and contracts in progress | 3 | €283,435 | €266,979 | -€16,456 | -5.8% |
| Stocks | 30/36 | €283,435 | €266,979 | -€16,456 | -5.8% |
| Amounts receivable within one year | 40/41 | €22,621 | €35,345 | +€12,724 | +56.2% |
| Trade receivables | 40 | €22,621 | €10,542 | -€12,079 | -53.4% |
| Other amounts receivable | 41 | €0 | €24,803 | +€24,803 | |
| Cash at bank and in hand | 54/58 | €11,417 | €46,176 | +€34,759 | +304% |
| Deferred charges and accrued income | 490/1 | €27,188 | €11,978 | -€15,210 | -55.9% |
| Total equity and liabilities | 10/49 | €487,628 | €472,259 | -€15,369 | -3.2% |
| Equity | 10/15 | €186,716 | €160,017 | -€26,699 | -14.3% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €105,604 | €105,604 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,576 | €20,576 | = | 0.0% |
| Distributable reserves | 133 | €55,028 | €55,028 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€218,888 | -€245,587 | -€26,699 | -12.2% |
| Amounts payable | 17/49 | €300,911 | €312,241 | +€11,330 | +3.8% |
| Amounts payable after more than one year | 17 | €31,208 | €0 | -€31,208 | -100% |
| Financial debts | 170/4 | €31,208 | €0 | -€31,208 | -100% |
| Amounts payable within one year | 42/48 | €266,659 | €307,400 | +€40,741 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €23,447 | €10,637 | -€12,811 | -54.6% |
| Financial debts | 43 | €137,000 | €186,000 | +€49,000 | +35.8% |
| Credit institutions | 430/8 | €137,000 | €186,000 | +€49,000 | +35.8% |
| Trade debts | 44 | €38,209 | €51,451 | +€13,242 | +34.7% |
| Suppliers | 440/4 | €38,209 | €51,451 | +€13,242 | +34.7% |
| Advances received on contracts in progress | 46 | €1,000 | €12,718 | +€11,718 | +1,172% |
| Taxes, remuneration and social security | 45 | €67,002 | €46,595 | -€20,407 | -30.5% |
| Taxes | 450/3 | €38,001 | €23,629 | -€14,372 | -37.8% |
| Remuneration and social security | 454/9 | €29,001 | €22,966 | -€6,035 | -20.8% |
| Accrued charges and deferred income | 492/3 | €3,044 | €4,841 | +€1,797 | +59.0% |
| Remuneration, social security and pensions | 62 | €187,198 | €183,607 | -€3,591 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,511 | €31,186 | -€5,325 | -14.6% |
| Other operating charges | 640/8 | €9,369 | €10,552 | +€1,184 | +12.6% |
| Gross operating margin | 9900 | €221,801 | €212,185 | -€9,616 | -4.3% |
| Operating profit (loss) | 9901 | -€11,276 | -€13,160 | -€1,884 | -16.7% |
| Financial income | 75/76B | €1,187 | €1,412 | +€225 | +19.0% |
| Recurring financial income | 75 | €1,187 | €1,412 | +€225 | +19.0% |
| Financial charges | 65/66B | €13,991 | €14,618 | +€627 | +4.5% |
| Recurring financial charges | 65 | €13,991 | €14,618 | +€627 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | -€24,080 | -€26,366 | -€2,286 | -9.5% |
| Income taxes | 67/77 | €826 | €333 | -€493 | -59.7% |
| Profit (loss) for the period | 9904 | -€24,906 | -€26,699 | -€1,793 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,906 | -€26,699 | -€1,793 | -7.2% |
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 13 October 2026 via checked.be.