c'ARTe BLANCHE: 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.
c'ARTe BLANCHE
Largest movements
- Receivables after one year +€140,000
up €140,000 (+140%), from €100,000 to €240,000
- Cash -€43,645
down €43,645 (-36.5%), from €119,663 to €76,018
mainly Receivables after one year (-€140,000) and Other debts (-€5,275)
- Tangible fixed assets -€42,566
down €42,566 (-31.3%), from €136,118 to €93,551
of which Land and buildings: -€27,384
- Receivables within one year -€11,905
down €11,905 (-43.0%), from €27,705 to €15,800
of which Trade receivables: -€12,705
- Profit (loss) carried forward +€48,044
up €48,044 (+15.6%), from €307,527 to €355,571
- Tax, wage and social debts +€7,700
up €7,700 (+58.7%), from €13,108 to €20,808
- Other debts -€5,275
down €5,275 (-82.0%), from €6,434 to €1,160
- Current portion of long-term debt -€4,339
no longer reported in 2025 (was €4,339)
- Gross operating margin +€39,224
up €39,224 (+54.6%), from €71,811 to €111,036
- Taxes +€7,569
up €7,569 (+106%), from €7,166 to €14,735
- Depreciation -€7,148
down €7,148 (-14.0%), from €51,232 to €44,084
- Financial income -€6,179
down €6,179 (-82.3%), from €7,505 to €1,326
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 | €386,149 | €428,196 | +€42,048 | +10.9% |
| Fixed assets | 21/28 | €136,118 | €93,551 | -€42,566 | -31.3% |
| Tangible fixed assets | 22/27 | €136,118 | €93,551 | -€42,566 | -31.3% |
| Land and buildings | 22 | €103,793 | €76,409 | -€27,384 | -26.4% |
| Plant, machinery and equipment | 23 | €982 | €1,453 | +€472 | +48.0% |
| Furniture and vehicles | 24 | €31,343 | €15,689 | -€15,654 | -49.9% |
| Current assets | 29/58 | €250,031 | €334,645 | +€84,614 | +33.8% |
| Amounts receivable after more than one year | 29 | €100,000 | €240,000 | +€140,000 | +140% |
| Other amounts receivable | 291 | €100,000 | €240,000 | +€140,000 | +140% |
| Amounts receivable within one year | 40/41 | €27,705 | €15,800 | -€11,905 | -43.0% |
| Trade receivables | 40 | €21,705 | €9,000 | -€12,705 | -58.5% |
| Other amounts receivable | 41 | €6,000 | €6,800 | +€800 | +13.3% |
| Cash at bank and in hand | 54/58 | €119,663 | €76,018 | -€43,645 | -36.5% |
| Deferred charges and accrued income | 490/1 | €2,662 | €2,827 | +€165 | +6.2% |
| Total equity and liabilities | 10/49 | €386,149 | €428,196 | +€42,048 | +10.9% |
| Equity | 10/15 | €352,267 | €400,311 | +€48,044 | +13.6% |
| Contributions | 10/11 | €40,500 | €40,500 | = | 0.0% |
| Reserves | 13 | €4,240 | €4,240 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,050 | €4,050 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,050 | €4,050 | = | 0.0% |
| Tax-exempt reserves | 132 | €190 | €190 | = | 0.0% |
| Profit (loss) carried forward | 14 | €307,527 | €355,571 | +€48,044 | +15.6% |
| Amounts payable | 17/49 | €33,881 | €27,885 | -€5,996 | -17.7% |
| Amounts payable within one year | 42/48 | €33,881 | €27,885 | -€5,996 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €4,339 | - | -€4,339 | |
| Trade debts | 44 | €9,999 | €5,917 | -€4,082 | -40.8% |
| Suppliers | 440/4 | €9,999 | €5,917 | -€4,082 | -40.8% |
| Taxes, remuneration and social security | 45 | €13,108 | €20,808 | +€7,700 | +58.7% |
| Taxes | 450/3 | €13,108 | €20,808 | +€7,700 | +58.7% |
| Other amounts payable | 47/48 | €6,434 | €1,160 | -€5,275 | -82.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,232 | €44,084 | -€7,148 | -14.0% |
| Other operating charges | 640/8 | €4,830 | €4,952 | +€122 | +2.5% |
| Non-recurring operating charges | 66A | - | €375 | +€375 | |
| Gross operating margin | 9900 | €71,811 | €111,036 | +€39,224 | +54.6% |
| Operating profit (loss) | 9901 | €15,749 | €61,624 | +€45,875 | +291% |
| Financial income | 75/76B | €7,505 | €1,326 | -€6,179 | -82.3% |
| Recurring financial income | 75 | €7,505 | €1,326 | -€6,179 | -82.3% |
| Financial charges | 65/66B | €261 | €171 | -€90 | -34.4% |
| Recurring financial charges | 65 | €261 | €171 | -€90 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €22,993 | €62,779 | +€39,786 | +173% |
| Income taxes | 67/77 | €7,166 | €14,735 | +€7,569 | +106% |
| Profit (loss) for the period | 9904 | €15,827 | €48,044 | +€32,217 | +204% |
| Profit (loss) for the period to be appropriated | 9905 | €15,827 | €48,044 | +€32,217 | +204% |
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 21 October 2026 via checked.be.