belgianartzone: 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.
belgianartzone
Largest movements
- Tangible fixed assets -€52,378
down €52,378 (-31.2%), from €167,812 to €115,434
of which Furniture and vehicles: -€50,731
- Cash -€38,015
down €38,015 (-93.5%), from €40,666 to €2,651
mainly Debts after one year (-€119,444) and Contributions, distributions and other (-€40,950)
- Receivables within one year +€30,573
up €30,573 (+91.4%), from €33,465 to €64,038
of which Trade receivables: +€30,487
- Financial fixed assets -€30,057
no longer reported in 2025 (was €30,057)
- Deferred charges and accrued income -€5,613
down €5,613 (-59.5%), from €9,433 to €3,820
- Debts after one year -€119,444
down €119,444 (-75.2%), from €158,782 to €39,338
- Other debts +€25,000
new in 2025: €25,000
- Tax, wage and social debts +€22,807
up €22,807 (+66.2%), from €34,428 to €57,235
of which Taxes: +€13,772
- Contributions -€20,000
no longer reported in 2025 (was €20,000)
- Short-term financial debts -€6,142
no longer reported in 2025 (was €6,142)
- Other operating charges +€270,548
up €270,548 (+25888.3%), from €1,045 to €271,593
- Financial charges -€269,607
down €269,607, from €36,363 to -€233,245
of which Non-recurring financial charges: -€296,446
- Staff costs -€34,089
down €34,089 (-28.5%), from €119,576 to €85,488
- Gross operating margin -€5,367
down €5,367 (-2.6%), from €208,692 to €203,325
- Taxes +€3,987
up €3,987 (+90.9%), from €4,385 to €8,372
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 | €281,433 | €185,942 | -€95,491 | -33.9% |
| Fixed assets | 21/28 | €197,869 | €115,434 | -€82,436 | -41.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €167,812 | €115,434 | -€52,378 | -31.2% |
| Plant, machinery and equipment | 23 | €4,515 | €2,868 | -€1,647 | -36.5% |
| Furniture and vehicles | 24 | €163,297 | €112,566 | -€50,731 | -31.1% |
| Financial fixed assets | 28 | €30,057 | - | -€30,057 | |
| Current assets | 29/58 | €83,564 | €70,509 | -€13,055 | -15.6% |
| Amounts receivable within one year | 40/41 | €33,465 | €64,038 | +€30,573 | +91.4% |
| Trade receivables | 40 | €33,398 | €63,885 | +€30,487 | +91.3% |
| Other amounts receivable | 41 | €67 | €153 | +€86 | +128.2% |
| Cash at bank and in hand | 54/58 | €40,666 | €2,651 | -€38,015 | -93.5% |
| Deferred charges and accrued income | 490/1 | €9,433 | €3,820 | -€5,613 | -59.5% |
| Total equity and liabilities | 10/49 | €281,433 | €185,942 | -€95,491 | -33.9% |
| Equity | 10/15 | €52,041 | €29,978 | -€22,063 | -42.4% |
| Contributions | 10/11 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €33,400 | €29,950 | -€3,450 | -10.3% |
| Distributable reserves | 133 | €33,400 | €29,950 | -€3,450 | -10.3% |
| Profit (loss) carried forward | 14 | -€1,359 | €28 | +€1,387 | |
| Amounts payable | 17/49 | €229,392 | €155,965 | -€73,428 | -32.0% |
| Amounts payable after more than one year | 17 | €158,782 | €39,338 | -€119,444 | -75.2% |
| Financial debts | 170/4 | €158,782 | €39,338 | -€119,444 | -75.2% |
| Amounts payable within one year | 42/48 | €70,611 | €116,627 | +€46,017 | +65.2% |
| Current portion of amounts payable after more than one year | 42 | €17,012 | €17,760 | +€748 | +4.4% |
| Financial debts | 43 | €6,142 | - | -€6,142 | |
| Credit institutions | 430/8 | €6,142 | - | -€6,142 | |
| Trade debts | 44 | €13,029 | €16,631 | +€3,602 | +27.6% |
| Suppliers | 440/4 | €13,029 | €16,631 | +€3,602 | +27.6% |
| Taxes, remuneration and social security | 45 | €34,428 | €57,235 | +€22,807 | +66.2% |
| Taxes | 450/3 | €21,055 | €34,828 | +€13,772 | +65.4% |
| Remuneration and social security | 454/9 | €13,373 | €22,408 | +€9,035 | +67.6% |
| Other amounts payable | 47/48 | - | €25,000 | +€25,000 | |
| Remuneration, social security and pensions | 62 | €119,576 | €85,488 | -€34,089 | -28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,694 | €52,378 | +€3,685 | +7.6% |
| Other operating charges | 640/8 | €1,045 | €271,593 | +€270,548 | +25888.3% |
| Gross operating margin | 9900 | €208,692 | €203,325 | -€5,367 | -2.6% |
| Operating profit (loss) | 9901 | €39,377 | -€206,134 | -€245,511 | |
| Financial income | 75/76B | - | €149 | +€149 | |
| Recurring financial income | 75 | - | €149 | +€149 | |
| Financial charges | 65/66B | €36,363 | -€233,245 | -€269,607 | |
| Recurring financial charges | 65 | €10,068 | €36,906 | +€26,838 | +266.6% |
| Non-recurring financial charges | 66B | €26,295 | -€270,151 | -€296,446 | |
| Profit (loss) for the period before taxes | 9903 | €3,015 | €27,259 | +€24,245 | +804.2% |
| Income taxes | 67/77 | €4,385 | €8,372 | +€3,987 | +90.9% |
| Profit (loss) for the period | 9904 | -€1,370 | €18,887 | +€20,257 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,370 | €18,887 | +€20,257 |
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 12 October 2026 via checked.be.