For Art: 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.
For Art
Largest movements
- Receivables within one year -€140,023
down €140,023 (-98.4%), from €142,266 to €2,243
of which Trade receivables: -€140,700
- Cash -€25,094
down €25,094 (-99.6%), from €25,199 to €104
mainly Trade debts (-€154,410) and Net result for the year (-€36,773)
- Tangible fixed assets -€8,622
down €8,622 (-5.4%), from €160,631 to €152,009
of which Plant, machinery and equipment: -€8,319
- Trade debts -€154,410
down €154,410 (-93.3%), from €165,553 to €11,144
- Other debts +€47,668
up €47,668 (+479%), from €9,942 to €57,610
- Profit (loss) carried forward -€36,773
down €36,773 (-1,613%), from -€2,280 to -€39,053
- Tax, wage and social debts -€34,203
down €34,203 (-60.1%), from €56,936 to €22,733
- Accrued charges and deferred income +€3,978
new in 2025: €3,978
- Gross operating margin -€17,458
down €17,458 (-36.0%), from €48,480 to €31,021
- Staff costs -€17,131
down €17,131 (-22.8%), from €75,105 to €57,974
- Financial charges +€1,037
up €1,037 (+684%), from €152 to €1,189
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 | €328,096 | €154,356 | -€173,739 | -53.0% |
| Fixed assets | 21/28 | €160,631 | €152,009 | -€8,622 | -5.4% |
| Tangible fixed assets | 22/27 | €160,631 | €152,009 | -€8,622 | -5.4% |
| Land and buildings | 22 | €113,259 | €112,955 | -€303 | -0.3% |
| Plant, machinery and equipment | 23 | €45,637 | €37,319 | -€8,319 | -18.2% |
| Furniture and vehicles | 24 | €1,735 | €1,735 | = | 0.0% |
| Current assets | 29/58 | €167,465 | €2,347 | -€165,117 | -98.6% |
| Amounts receivable within one year | 40/41 | €142,266 | €2,243 | -€140,023 | -98.4% |
| Trade receivables | 40 | €140,700 | - | -€140,700 | |
| Other amounts receivable | 41 | €1,566 | €2,243 | +€677 | +43.2% |
| Cash at bank and in hand | 54/58 | €25,199 | €104 | -€25,094 | -99.6% |
| Total equity and liabilities | 10/49 | €328,096 | €154,356 | -€173,739 | -53.0% |
| Equity | 10/15 | €95,664 | €58,892 | -€36,773 | -38.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €35,945 | €35,945 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,945 | €35,945 | = | 0.0% |
| Legal reserve | 130 | €35,945 | €35,945 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,280 | -€39,053 | -€36,773 | -1,613% |
| Amounts payable | 17/49 | €232,431 | €95,465 | -€136,967 | -58.9% |
| Amounts payable within one year | 42/48 | €232,431 | €91,487 | -€140,945 | -60.6% |
| Trade debts | 44 | €165,553 | €11,144 | -€154,410 | -93.3% |
| Suppliers | 440/4 | €165,553 | €11,144 | -€154,410 | -93.3% |
| Taxes, remuneration and social security | 45 | €56,936 | €22,733 | -€34,203 | -60.1% |
| Remuneration and social security | 454/9 | €56,936 | €22,733 | -€34,203 | -60.1% |
| Other amounts payable | 47/48 | €9,942 | €57,610 | +€47,668 | +479% |
| Accrued charges and deferred income | 492/3 | - | €3,978 | +€3,978 | |
| Remuneration, social security and pensions | 62 | €75,105 | €57,974 | -€17,131 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,518 | €8,622 | +€104 | +1.2% |
| Other operating charges | 640/8 | €4 | €10 | +€6 | +141% |
| Gross operating margin | 9900 | €48,480 | €31,021 | -€17,458 | -36.0% |
| Operating profit (loss) | 9901 | -€35,148 | -€35,584 | -€437 | -1.2% |
| Financial charges | 65/66B | €152 | €1,189 | +€1,037 | +684% |
| Recurring financial charges | 65 | €152 | €1,189 | +€1,037 | +684% |
| Profit (loss) for the period before taxes | 9903 | -€35,299 | -€36,773 | -€1,473 | -4.2% |
| Profit (loss) for the period | 9904 | -€35,299 | -€36,773 | -€1,473 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,299 | -€36,773 | -€1,473 | -4.2% |
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 14 October 2026 via checked.be.