Dr. Art B: 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.
Dr. Art B
Largest movements
- Intangible fixed assets -€32,857
down €32,857 (-33.4%), from €98,483 to €65,626
- Receivables within one year -€16,865
down €16,865 (-14.5%), from €116,494 to €99,629
of which Other amounts receivable: -€11,923
- Cash +€12,553
up €12,553 (+726%), from €1,729 to €14,282
mainly Depreciation (+€33,678) and Net result for the year (+€22,555)
- Other debts -€45,013
down €45,013 (-47.8%), from €94,080 to €49,067
- Reserves +€22,555
up €22,555 (+26.1%), from €86,564 to €109,119
of which Distributable reserves: +€22,555
- Tax, wage and social debts -€14,814
down €14,814 (-44.2%), from €33,525 to €18,711
- Current portion of long-term debt -€2,635
no longer reported in 2025 (was €2,635)
- Depreciation -€12,446
down €12,446 (-27.0%), from €46,123 to €33,678
- Gross operating margin -€9,511
down €9,511 (-13.1%), from €72,754 to €63,243
- Financial charges -€966
down €966 (-81.5%), from €1,185 to €220
- Taxes +€925
up €925 (+16.6%), from €5,577 to €6,503
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 | €218,972 | €180,881 | -€38,090 | -17.4% |
| Fixed assets | 21/28 | €100,495 | €66,817 | -€33,678 | -33.5% |
| Intangible fixed assets | 21 | €98,483 | €65,626 | -€32,857 | -33.4% |
| Tangible fixed assets | 22/27 | €2,012 | €1,191 | -€820 | -40.8% |
| Furniture and vehicles | 24 | €2,012 | €1,191 | -€820 | -40.8% |
| Current assets | 29/58 | €118,477 | €114,064 | -€4,413 | -3.7% |
| Amounts receivable within one year | 40/41 | €116,494 | €99,629 | -€16,865 | -14.5% |
| Trade receivables | 40 | €104,572 | €99,629 | -€4,943 | -4.7% |
| Other amounts receivable | 41 | €11,923 | - | -€11,923 | |
| Cash at bank and in hand | 54/58 | €1,729 | €14,282 | +€12,553 | +726% |
| Deferred charges and accrued income | 490/1 | €253 | €153 | -€101 | -39.7% |
| Total equity and liabilities | 10/49 | €218,972 | €180,881 | -€38,090 | -17.4% |
| Equity | 10/15 | €88,564 | €111,119 | +€22,555 | +25.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €86,564 | €109,119 | +€22,555 | +26.1% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Distributable reserves | 133 | €86,364 | €108,919 | +€22,555 | +26.1% |
| Amounts payable | 17/49 | €130,408 | €69,762 | -€60,645 | -46.5% |
| Amounts payable within one year | 42/48 | €130,408 | €69,762 | -€60,645 | -46.5% |
| Current portion of amounts payable after more than one year | 42 | €2,635 | - | -€2,635 | |
| Trade debts | 44 | €167 | €1,984 | +€1,817 | +1,085% |
| Suppliers | 440/4 | €167 | €1,984 | +€1,817 | +1,085% |
| Taxes, remuneration and social security | 45 | €33,525 | €18,711 | -€14,814 | -44.2% |
| Taxes | 450/3 | €33,525 | €18,711 | -€14,814 | -44.2% |
| Other amounts payable | 47/48 | €94,080 | €49,067 | -€45,013 | -47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,123 | €33,678 | -€12,446 | -27.0% |
| Other operating charges | 640/8 | - | €288 | +€288 | |
| Gross operating margin | 9900 | €72,754 | €63,243 | -€9,511 | -13.1% |
| Operating profit (loss) | 9901 | €26,630 | €29,278 | +€2,647 | +9.9% |
| Financial charges | 65/66B | €1,185 | €220 | -€966 | -81.5% |
| Recurring financial charges | 65 | €1,185 | €220 | -€966 | -81.5% |
| Profit (loss) for the period before taxes | 9903 | €25,445 | €29,058 | +€3,613 | +14.2% |
| Income taxes | 67/77 | €5,577 | €6,503 | +€925 | +16.6% |
| Profit (loss) for the period | 9904 | €19,868 | €22,555 | +€2,687 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,868 | €22,555 | +€2,687 | +13.5% |
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 29 October 2026 via checked.be.