ClusteredArt: 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.
ClusteredArt
Largest movements
- Receivables within one year -€137,939
down €137,939 (-62.3%), from €221,396 to €83,457
of which Trade receivables: -€139,291
- Tangible fixed assets -€9,235
down €9,235 (-50.9%), from €18,162 to €8,926
of which Furniture and vehicles: -€9,327
- Cash +€6,101
up €6,101 (+11.9%), from €51,144 to €57,245
mainly Receivables within one year (+€137,939) and Depreciation (+€11,164)
- Reserves -€135,842
down €135,842 (-52.5%), from €258,928 to €123,086
- Tax, wage and social debts -€7,186
down €7,186 (-61.7%), from €11,645 to €4,459
of which Taxes: -€7,186
- Write-downs +€145,401
new in 2025: €145,401
- Gross operating margin +€45,983
up €45,983 (+130%), from €35,245 to €81,228
- Financial charges +€20,060
up €20,060 (+7,076%), from €283 to €20,344
of which Non-recurring financial charges: +€20,000
- Taxes -€6,798
down €6,798 (-96.2%), from €7,067 to €269
- Depreciation -€2,575
down €2,575 (-18.7%), from €13,739 to €11,164
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 | €291,101 | €150,042 | -€141,059 | -48.5% |
| Fixed assets | 21/28 | €18,162 | €8,926 | -€9,235 | -50.9% |
| Tangible fixed assets | 22/27 | €18,162 | €8,926 | -€9,235 | -50.9% |
| Plant, machinery and equipment | 23 | €2,000 | €2,364 | +€364 | +18.2% |
| Furniture and vehicles | 24 | €15,172 | €5,844 | -€9,327 | -61.5% |
| Other tangible fixed assets | 26 | €990 | €718 | -€272 | -27.5% |
| Current assets | 29/58 | €272,939 | €141,116 | -€131,824 | -48.3% |
| Amounts receivable within one year | 40/41 | €221,396 | €83,457 | -€137,939 | -62.3% |
| Trade receivables | 40 | €160,160 | €20,869 | -€139,291 | -87.0% |
| Other amounts receivable | 41 | €61,236 | €62,588 | +€1,352 | +2.2% |
| Cash at bank and in hand | 54/58 | €51,144 | €57,245 | +€6,101 | +11.9% |
| Deferred charges and accrued income | 490/1 | €399 | €414 | +€15 | +3.7% |
| Total equity and liabilities | 10/49 | €291,101 | €150,042 | -€141,059 | -48.5% |
| Equity | 10/15 | €277,528 | €141,686 | -€135,842 | -48.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €258,928 | €123,086 | -€135,842 | -52.5% |
| Distributable reserves | 133 | €258,928 | €123,086 | -€135,842 | -52.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,573 | €8,356 | -€5,217 | -38.4% |
| Amounts payable within one year | 42/48 | €13,573 | €8,356 | -€5,217 | -38.4% |
| Trade debts | 44 | €1,928 | €3,897 | +€1,968 | +102% |
| Suppliers | 440/4 | €1,928 | €3,897 | +€1,968 | +102% |
| Taxes, remuneration and social security | 45 | €11,645 | €4,459 | -€7,186 | -61.7% |
| Taxes | 450/3 | €11,645 | €4,459 | -€7,186 | -61.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,739 | €11,164 | -€2,575 | -18.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €145,401 | +€145,401 | |
| Other operating charges | 640/8 | €1,173 | €551 | -€623 | -53.1% |
| Gross operating margin | 9900 | €35,245 | €81,228 | +€45,983 | +130% |
| Operating profit (loss) | 9901 | €20,333 | -€75,887 | -€96,221 | |
| Financial income | 75/76B | €20 | €0 | -€20 | -100% |
| Recurring financial income | 75 | €20 | €0 | -€20 | -100% |
| Financial charges | 65/66B | €283 | €20,344 | +€20,060 | +7,076% |
| Recurring financial charges | 65 | €283 | €344 | +€60 | +21.3% |
| Non-recurring financial charges | 66B | - | €20,000 | +€20,000 | |
| Profit (loss) for the period before taxes | 9903 | €20,070 | -€96,231 | -€116,301 | |
| Income taxes | 67/77 | €7,067 | €269 | -€6,798 | -96.2% |
| Profit (loss) for the period | 9904 | €13,003 | -€96,500 | -€109,503 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,003 | -€96,500 | -€109,503 |
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 24 October 2026 via checked.be.