ARTUNET: 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.
ARTUNET
Largest movements
- Receivables within one year -€88,183
down €88,183 (-39.1%), from €225,795 to €137,612
of which Other amounts receivable: -€56,815
- Tangible fixed assets -€64,025
down €64,025 (-5.3%), from €1.2m to €1.1m
of which Land and buildings: -€52,660
- Cash -€20,511
down €20,511 (-45.1%), from €45,462 to €24,950
mainly Trade debts (-€60,312) and Current portion of long-term debt (-€50,197)
- Trade debts -€60,312
down €60,312 (-43.5%), from €138,722 to €78,410
- Current portion of long-term debt -€50,197
down €50,197 (-52.8%), from €95,142 to €44,945
- Other debts -€23,505
no longer reported in 2025 (was €23,505)
- Debts after one year -€17,464
down €17,464 (-1.7%), from €1.0m to €1.0m
of which Financial debts: -€18,164
- Gross operating margin -€53,626
down €53,626 (-28.7%), from €186,771 to €133,146
- Taxes -€42,423
down €42,423 (-91.9%), from €46,145 to €3,722
- Financial charges +€24,795
up €24,795 (+70.6%), from €35,119 to €59,914
of which Financial charges: +€31,694
- Other operating charges +€6,964
up €6,964 (+149%), from €4,682 to €11,647
- Depreciation -€5,565
down €5,565 (-7.3%), from €75,796 to €70,230
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 | €1,479,293 | €1,307,208 | -€172,085 | -11.6% |
| Fixed assets | 21/28 | €1,208,036 | €1,144,012 | -€64,025 | -5.3% |
| Tangible fixed assets | 22/27 | €1,207,486 | €1,143,462 | -€64,025 | -5.3% |
| Land and buildings | 22 | €1,143,474 | €1,090,814 | -€52,660 | -4.6% |
| Plant, machinery and equipment | 23 | €62,137 | €47,627 | -€14,510 | -23.4% |
| Furniture and vehicles | 24 | €1,875 | - | -€1,875 | |
| Leasing and similar rights | 25 | - | €5,020 | +€5,020 | |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €271,257 | €163,196 | -€108,061 | -39.8% |
| Amounts receivable within one year | 40/41 | €225,795 | €137,612 | -€88,183 | -39.1% |
| Trade receivables | 40 | €37,903 | €6,534 | -€31,369 | -82.8% |
| Other amounts receivable | 41 | €187,893 | €131,078 | -€56,815 | -30.2% |
| Cash at bank and in hand | 54/58 | €45,462 | €24,950 | -€20,511 | -45.1% |
| Deferred charges and accrued income | 490/1 | - | €634 | +€634 | |
| Total equity and liabilities | 10/49 | €1,479,293 | €1,307,208 | -€172,085 | -11.6% |
| Equity | 10/15 | €125,118 | €117,371 | -€7,747 | -6.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,058 | €109,311 | -€7,747 | -6.6% |
| Amounts payable | 17/49 | €1,354,175 | €1,189,837 | -€164,339 | -12.1% |
| Amounts payable after more than one year | 17 | €1,047,553 | €1,030,089 | -€17,464 | -1.7% |
| Financial debts | 170/4 | €1,042,425 | €1,024,261 | -€18,164 | -1.7% |
| Other amounts payable | 178/9 | €5,128 | €5,828 | +€700 | +13.7% |
| Amounts payable within one year | 42/48 | €306,623 | €159,748 | -€146,875 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €95,142 | €44,945 | -€50,197 | -52.8% |
| Trade debts | 44 | €138,722 | €78,410 | -€60,312 | -43.5% |
| Suppliers | 440/4 | €138,722 | €78,410 | -€60,312 | -43.5% |
| Taxes, remuneration and social security | 45 | €49,254 | €36,393 | -€12,861 | -26.1% |
| Taxes | 450/3 | €49,254 | €36,393 | -€12,861 | -26.1% |
| Other amounts payable | 47/48 | €23,505 | - | -€23,505 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,796 | €70,230 | -€5,565 | -7.3% |
| Other operating charges | 640/8 | €4,682 | €11,647 | +€6,964 | +149% |
| Gross operating margin | 9900 | €186,771 | €133,146 | -€53,626 | -28.7% |
| Operating profit (loss) | 9901 | €106,293 | €51,268 | -€55,025 | -51.8% |
| Financial income | 75/76B | - | €4,621 | +€4,621 | |
| Recurring financial income | 75 | - | €4,621 | +€4,621 | |
| Financial charges | 65/66B | €35,119 | €59,914 | +€24,795 | +70.6% |
| Recurring financial charges | 65 | €28,220 | €59,914 | +€31,694 | +112% |
| Non-recurring financial charges | 66B | €6,900 | - | -€6,900 | |
| Profit (loss) for the period before taxes | 9903 | €71,174 | -€4,025 | -€75,199 | |
| Income taxes | 67/77 | €46,145 | €3,722 | -€42,423 | -91.9% |
| Profit (loss) for the period | 9904 | €25,029 | -€7,747 | -€32,775 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,029 | -€7,747 | -€32,775 |
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 27 October 2026 via checked.be.