L'ARTIGLIO: 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.
L'ARTIGLIO
Largest movements
- Cash -€13,236
down €13,236 (-17.0%), from €77,714 to €64,477
mainly Investment in fixed assets (net) (-€15,315) and Net result for the year (-€8,247)
- Tangible fixed assets +€9,355
up €9,355 (+104%), from €8,961 to €18,316
of which Furniture and vehicles: +€9,545
- Deferred charges and accrued income +€2,088
up €2,088 (+37.5%), from €5,560 to €7,648
- Reserves -€9,720
down €9,720 (-12.0%), from €81,015 to €71,295
- Trade debts +€3,802
up €3,802 (+49.0%), from €7,759 to €11,561
- Tax, wage and social debts +€3,406
up €3,406 (+34.2%), from €9,970 to €13,376
of which Remuneration and social security: +€3,397
- Staff costs +€14,017
up €14,017 (+53.3%), from €26,283 to €40,299
- Financial charges -€2,191
down €2,191 (-15.0%), from €14,608 to €12,417
- Other operating charges -€1,403
down €1,403 (-38.1%), from €3,680 to €2,276
- Taxes -€1,290
down €1,290 (-63.6%), from €2,029 to €739
- Depreciation -€672
down €672 (-10.1%), from €6,632 to €5,960
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 | €107,230 | €104,793 | -€2,437 | -2.3% |
| Fixed assets | 21/28 | €14,611 | €23,965 | +€9,355 | +64.0% |
| Tangible fixed assets | 22/27 | €8,961 | €18,316 | +€9,355 | +104% |
| Plant, machinery and equipment | 23 | €3,799 | €3,609 | -€190 | -5.0% |
| Furniture and vehicles | 24 | €5,162 | €14,707 | +€9,545 | +185% |
| Financial fixed assets | 28 | €5,649 | €5,649 | = | 0.0% |
| Current assets | 29/58 | €92,619 | €80,828 | -€11,791 | -12.7% |
| Stocks and contracts in progress | 3 | €3,398 | €3,288 | -€110 | -3.2% |
| Stocks | 30/36 | €3,398 | €3,288 | -€110 | -3.2% |
| Amounts receivable within one year | 40/41 | €5,948 | €5,415 | -€533 | -9.0% |
| Trade receivables | 40 | €351 | - | -€351 | |
| Other amounts receivable | 41 | €5,597 | €5,415 | -€182 | -3.3% |
| Cash at bank and in hand | 54/58 | €77,714 | €64,477 | -€13,236 | -17.0% |
| Deferred charges and accrued income | 490/1 | €5,560 | €7,648 | +€2,088 | +37.5% |
| Total equity and liabilities | 10/49 | €107,230 | €104,793 | -€2,437 | -2.3% |
| Equity | 10/15 | €87,407 | €77,495 | -€9,913 | -11.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €81,015 | €71,295 | -€9,720 | -12.0% |
| Distributable reserves | 133 | €81,015 | €71,295 | -€9,720 | -12.0% |
| Profit (loss) carried forward | 14 | €193 | - | -€193 | |
| Amounts payable | 17/49 | €19,822 | €27,298 | +€7,476 | +37.7% |
| Amounts payable within one year | 42/48 | €19,692 | €26,848 | +€7,156 | +36.3% |
| Trade debts | 44 | €7,759 | €11,561 | +€3,802 | +49.0% |
| Suppliers | 440/4 | €7,759 | €11,561 | +€3,802 | +49.0% |
| Taxes, remuneration and social security | 45 | €9,970 | €13,376 | +€3,406 | +34.2% |
| Taxes | 450/3 | €2,790 | €2,799 | +€9 | +0.3% |
| Remuneration and social security | 454/9 | €7,181 | €10,578 | +€3,397 | +47.3% |
| Other amounts payable | 47/48 | €1,963 | €1,911 | -€52 | -2.6% |
| Accrued charges and deferred income | 492/3 | €130 | €450 | +€320 | +245% |
| Remuneration, social security and pensions | 62 | €26,283 | €40,299 | +€14,017 | +53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,632 | €5,960 | -€672 | -10.1% |
| Other operating charges | 640/8 | €3,680 | €2,276 | -€1,403 | -38.1% |
| Gross operating margin | 9900 | €52,587 | €52,574 | -€13 | 0.0% |
| Operating profit (loss) | 9901 | €15,993 | €4,038 | -€11,954 | -74.7% |
| Financial income | 75/76B | €885 | €870 | -€14 | -1.6% |
| Recurring financial income | 75 | €885 | €870 | -€14 | -1.6% |
| Financial charges | 65/66B | €14,608 | €12,417 | -€2,191 | -15.0% |
| Recurring financial charges | 65 | €14,608 | €12,417 | -€2,191 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €2,269 | -€7,508 | -€9,777 | |
| Income taxes | 67/77 | €2,029 | €739 | -€1,290 | -63.6% |
| Profit (loss) for the period | 9904 | €240 | -€8,247 | -€8,487 | |
| Profit (loss) for the period to be appropriated | 9905 | €240 | -€8,247 | -€8,487 |
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 26 October 2026 via checked.be.