ARTZ: 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.
ARTZ
Largest movements
- Cash +€26,286
up €26,286 (+428.7%), from €6,132 to €32,418
mainly Current investments (+€16,055) and Receivables within one year (+€11,843)
- Current investments -€16,055
down €16,055 (-26.6%), from €60,309 to €44,254
- Receivables within one year -€11,843
down €11,843 (-49.0%), from €24,173 to €12,330
of which Trade receivables: -€9,416
- Tangible fixed assets +€4,293
up €4,293 (+56.3%), from €7,623 to €11,916
of which Furniture and vehicles: +€5,158
- Profit (loss) carried forward +€2,508
up €2,508 (+2.9%), from €85,560 to €88,068
- Financial income +€22,499
up €22,499 (+3749900.0%), from €1 to €22,500
- Gross operating margin -€9,826
down €9,826 (-87.4%), from €11,239 to €1,413
- Financial charges +€9,341
up €9,341 (+121.2%), from €7,705 to €17,047
of which Non-recurring financial charges: +€9,153
- Taxes -€7,729
no longer reported in 2025 (was €7,729)
- Depreciation -€565
down €565 (-20.3%), from €2,779 to €2,214
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.
Cash bridge derived
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 | €113,238 | €115,919 | +€2,681 | +2.4% |
| Fixed assets | 21/28 | €22,623 | €26,916 | +€4,293 | +19.0% |
| Tangible fixed assets | 22/27 | €7,623 | €11,916 | +€4,293 | +56.3% |
| Plant, machinery and equipment | 23 | €938 | €1,078 | +€140 | +14.9% |
| Furniture and vehicles | 24 | €5,629 | €10,788 | +€5,158 | +91.6% |
| Other tangible fixed assets | 26 | €1,056 | €51 | -€1,005 | -95.1% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €90,614 | €89,003 | -€1,612 | -1.8% |
| Amounts receivable within one year | 40/41 | €24,173 | €12,330 | -€11,843 | -49.0% |
| Trade receivables | 40 | €12,562 | €3,146 | -€9,416 | -75.0% |
| Other amounts receivable | 41 | €11,611 | €9,184 | -€2,427 | -20.9% |
| Current investments | 50/53 | €60,309 | €44,254 | -€16,055 | -26.6% |
| Cash at bank and in hand | 54/58 | €6,132 | €32,418 | +€26,286 | +428.7% |
| Total equity and liabilities | 10/49 | €113,238 | €115,919 | +€2,681 | +2.4% |
| Equity | 10/15 | €110,262 | €112,770 | +€2,508 | +2.3% |
| Reserves | 13 | €24,702 | €24,702 | = | 0.0% |
| Distributable reserves | 133 | €24,702 | €24,702 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,560 | €88,068 | +€2,508 | +2.9% |
| Amounts payable | 17/49 | €2,976 | €3,149 | +€174 | +5.8% |
| Amounts payable within one year | 42/48 | €2,976 | €3,149 | +€174 | +5.8% |
| Trade debts | 44 | €453 | €337 | -€116 | -25.5% |
| Suppliers | 440/4 | €453 | €337 | -€116 | -25.5% |
| Taxes, remuneration and social security | 45 | - | €289 | +€289 | |
| Taxes | 450/3 | - | €289 | +€289 | |
| Other amounts payable | 47/48 | €2,523 | €2,523 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,779 | €2,214 | -€565 | -20.3% |
| Other operating charges | 640/8 | €925 | €1,034 | +€109 | +11.7% |
| Non-recurring operating charges | 66A | - | €1,111 | +€1,111 | |
| Gross operating margin | 9900 | €11,239 | €1,413 | -€9,826 | -87.4% |
| Operating profit (loss) | 9901 | €7,536 | -€2,945 | -€10,481 | |
| Financial income | 75/76B | €1 | €22,500 | +€22,499 | +3749900.0% |
| Recurring financial income | 75 | €1 | €22,500 | +€22,499 | +3749900.0% |
| Financial charges | 65/66B | €7,705 | €17,047 | +€9,341 | +121.2% |
| Recurring financial charges | 65 | €804 | €992 | +€188 | +23.4% |
| Non-recurring financial charges | 66B | €6,902 | €16,055 | +€9,153 | +132.6% |
| Profit (loss) for the period before taxes | 9903 | -€169 | €2,508 | +€2,677 | |
| Income taxes | 67/77 | €7,729 | - | -€7,729 | |
| Profit (loss) for the period | 9904 | -€7,898 | €2,508 | +€10,406 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,898 | €2,508 | +€10,406 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.