ARTWO: 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.
ARTWO
Largest movements
- Cash -€37,443
down €37,443 (-16.3%), from €230,050 to €192,607
mainly Investment in fixed assets (net) (-€43,791) and Receivables within one year (-€17,209)
- Tangible fixed assets +€32,222
up €32,222 (+1,570%), from €2,053 to €34,274
of which Furniture and vehicles: +€33,161
- Receivables within one year +€17,209
up €17,209 (+142%), from €12,153 to €29,363
of which Trade receivables: +€18,038
- Trade debts +€7,177
up €7,177 (+761%), from €943 to €8,119
- Reserves +€5,447
up €5,447 (+2.5%), from €220,702 to €226,149
of which Distributable reserves: +€5,447
- Depreciation +€10,463
up €10,463 (+946%), from €1,106 to €11,570
- Gross operating margin +€3,951
up €3,951 (+25.2%), from €15,689 to €19,640
- Financial income +€2,392
up €2,392 (+7,974,933%), from €0 to €2,393
of which Financial income: +€2,392
- Financial charges -€1,420
down €1,420 (-81.3%), from €1,747 to €327
- Taxes -€739
down €739 (-19.1%), from €3,874 to €3,135
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 | €244,256 | €256,244 | +€11,988 | +4.9% |
| Fixed assets | 21/28 | €2,053 | €34,274 | +€32,222 | +1,570% |
| Tangible fixed assets | 22/27 | €2,053 | €34,274 | +€32,222 | +1,570% |
| Plant, machinery and equipment | 23 | €2,048 | €1,109 | -€939 | -45.8% |
| Furniture and vehicles | 24 | €5 | €33,165 | +€33,161 | +673,995% |
| Current assets | 29/58 | €242,203 | €221,970 | -€20,234 | -8.4% |
| Amounts receivable within one year | 40/41 | €12,153 | €29,363 | +€17,209 | +142% |
| Trade receivables | 40 | €10,829 | €28,867 | +€18,038 | +167% |
| Other amounts receivable | 41 | €1,324 | €495 | -€829 | -62.6% |
| Cash at bank and in hand | 54/58 | €230,050 | €192,607 | -€37,443 | -16.3% |
| Total equity and liabilities | 10/49 | €244,256 | €256,244 | +€11,988 | +4.9% |
| Equity | 10/15 | €226,902 | €232,349 | +€5,447 | +2.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €220,702 | €226,149 | +€5,447 | +2.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €218,842 | €224,289 | +€5,447 | +2.5% |
| Amounts payable | 17/49 | €17,354 | €23,895 | +€6,541 | +37.7% |
| Amounts payable within one year | 42/48 | €17,354 | €23,895 | +€6,541 | +37.7% |
| Trade debts | 44 | €943 | €8,119 | +€7,177 | +761% |
| Suppliers | 440/4 | €943 | €8,119 | +€7,177 | +761% |
| Taxes, remuneration and social security | 45 | €10,803 | €10,394 | -€409 | -3.8% |
| Taxes | 450/3 | €10,803 | €10,394 | -€409 | -3.8% |
| Other amounts payable | 47/48 | €5,608 | €5,381 | -€227 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,106 | €11,570 | +€10,463 | +946% |
| Other operating charges | 640/8 | €1,564 | €985 | -€579 | -37.0% |
| Gross operating margin | 9900 | €15,689 | €19,640 | +€3,951 | +25.2% |
| Operating profit (loss) | 9901 | €13,019 | €7,086 | -€5,934 | -45.6% |
| Financial income | 75/76B | €0 | €2,393 | +€2,392 | +7,974,933% |
| Recurring financial income | 75 | €0 | €2,393 | +€2,392 | +7,974,933% |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,747 | €327 | -€1,420 | -81.3% |
| Recurring financial charges | 65 | €1,747 | €327 | -€1,420 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | €11,272 | €9,152 | -€2,121 | -18.8% |
| Income taxes | 67/77 | €3,874 | €3,135 | -€739 | -19.1% |
| Profit (loss) for the period | 9904 | €7,398 | €6,016 | -€1,382 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,398 | €6,016 | -€1,382 | -18.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.