GRAPHIC ART CONCEPT: 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.
GRAPHIC ART CONCEPT
Largest movements
- Tangible fixed assets +€26,180
up €26,180 (+348%), from €7,516 to €33,696
of which Furniture and vehicles: +€26,362
- Cash -€12,155
down €12,155 (-21.3%), from €57,101 to €44,946
mainly Investment in fixed assets (net) (-€36,055) and Net result for the year (-€12,001)
- Receivables within one year -€1,248
down €1,248 (-10.4%), from €11,999 to €10,751
of which Trade receivables: -€1,224
- Profit (loss) carried forward -€12,834
down €12,834 (-50.3%), from €25,531 to €12,697
- Debts after one year +€10,957
new in 2025: €10,957
- Current portion of long-term debt +€9,044
new in 2025: €9,044
- Trade debts +€3,211
up €3,211 (+83.4%), from €3,849 to €7,060
- Other debts +€2,325
up €2,325 (+370%), from €628 to €2,953
- Gross operating margin -€7,007
down €7,007 (-66.4%), from €10,553 to €3,547
- Depreciation +€4,377
up €4,377 (+79.6%), from €5,497 to €9,874
- Taxes -€2,299
down €2,299 (-85.1%), from €2,700 to €402
- Financial charges +€1,055
up €1,055 (+851%), from €124 to €1,179
- Other operating charges +€999
up €999 (+72.8%), from €1,372 to €2,371
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 | €78,594 | €91,705 | +€13,111 | +16.7% |
| Fixed assets | 21/28 | €7,764 | €33,944 | +€26,180 | +337% |
| Tangible fixed assets | 22/27 | €7,516 | €33,696 | +€26,180 | +348% |
| Plant, machinery and equipment | 23 | €461 | €279 | -€182 | -39.5% |
| Furniture and vehicles | 24 | €7,055 | €33,417 | +€26,362 | +374% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €70,830 | €57,761 | -€13,069 | -18.5% |
| Amounts receivable within one year | 40/41 | €11,999 | €10,751 | -€1,248 | -10.4% |
| Trade receivables | 40 | €11,976 | €10,751 | -€1,224 | -10.2% |
| Other amounts receivable | 41 | €24 | - | -€24 | |
| Cash at bank and in hand | 54/58 | €57,101 | €44,946 | -€12,155 | -21.3% |
| Deferred charges and accrued income | 490/1 | €1,730 | €2,064 | +€334 | +19.3% |
| Total equity and liabilities | 10/49 | €78,594 | €91,705 | +€13,111 | +16.7% |
| Equity | 10/15 | €64,659 | €51,826 | -€12,834 | -19.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,528 | €20,528 | = | 0.0% |
| Distributable reserves | 133 | €20,528 | €20,528 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,531 | €12,697 | -€12,834 | -50.3% |
| Amounts payable | 17/49 | €13,934 | €39,879 | +€25,945 | +186% |
| Amounts payable after more than one year | 17 | - | €10,957 | +€10,957 | |
| Financial debts | 170/4 | - | €10,957 | +€10,957 | |
| Amounts payable within one year | 42/48 | €13,538 | €28,923 | +€15,384 | +114% |
| Current portion of amounts payable after more than one year | 42 | - | €9,044 | +€9,044 | |
| Trade debts | 44 | €3,849 | €7,060 | +€3,211 | +83.4% |
| Suppliers | 440/4 | €3,849 | €7,060 | +€3,211 | +83.4% |
| Taxes, remuneration and social security | 45 | €9,061 | €9,865 | +€804 | +8.9% |
| Taxes | 450/3 | €9,061 | €9,865 | +€804 | +8.9% |
| Other amounts payable | 47/48 | €628 | €2,953 | +€2,325 | +370% |
| Accrued charges and deferred income | 492/3 | €396 | - | -€396 | |
| Non-recurring operating income | 76A | - | €992 | +€992 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,497 | €9,874 | +€4,377 | +79.6% |
| Other operating charges | 640/8 | €1,372 | €2,371 | +€999 | +72.8% |
| Non-recurring operating charges | 66A | - | €1,721 | +€1,721 | |
| Gross operating margin | 9900 | €10,553 | €3,547 | -€7,007 | -66.4% |
| Operating profit (loss) | 9901 | €3,684 | -€10,419 | -€14,103 | |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €124 | €1,179 | +€1,055 | +851% |
| Recurring financial charges | 65 | €124 | €1,179 | +€1,055 | +851% |
| Profit (loss) for the period before taxes | 9903 | €3,566 | -€11,599 | -€15,165 | |
| Income taxes | 67/77 | €2,700 | €402 | -€2,299 | -85.1% |
| Profit (loss) for the period | 9904 | €866 | -€12,001 | -€12,866 | |
| Profit (loss) for the period to be appropriated | 9905 | €866 | -€12,001 | -€12,866 |
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.