PRO ARTE: 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.
PRO ARTE
Largest movements
- Receivables within one year -€156,624
down €156,624 (-53.8%), from €291,323 to €134,698
of which Trade receivables: -€147,612
- Cash +€106,032
up €106,032 (+105%), from €101,055 to €207,087
mainly Receivables within one year (+€156,624) and Net result for the year (+€73,703)
- Stocks and contracts +€71,500
up €71,500 (+40.9%), from €174,901 to €246,401
- Reserves +€73,703
up €73,703 (+27.3%), from €270,169 to €343,873
of which Distributable reserves: +€73,703
- Trade debts -€41,357
down €41,357 (-55.7%), from €74,202 to €32,844
- Advances received -€17,370
down €17,370 (-100%), from €17,370 to €0
- Debts after one year -€15,627
down €15,627 (-48.9%), from €31,935 to €16,308
- Tax, wage and social debts +€13,203
up €13,203 (+29.3%), from €45,093 to €58,296
of which Taxes: +€17,532
- Staff costs -€41,535
down €41,535 (-52.0%), from €79,827 to €38,292
- Gross operating margin +€14,056
up €14,056 (+9.3%), from €150,702 to €164,759
- Financial charges +€11,441
up €11,441 (+167%), from €6,868 to €18,309
- Taxes +€10,678
up €10,678 (+66.3%), from €16,106 to €26,784
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 | €595,546 | €611,282 | +€15,736 | +2.6% |
| Fixed assets | 21/28 | €28,267 | €23,096 | -€5,171 | -18.3% |
| Tangible fixed assets | 22/27 | €23,952 | €18,781 | -€5,171 | -21.6% |
| Furniture and vehicles | 24 | €16,815 | €12,953 | -€3,862 | -23.0% |
| Other tangible fixed assets | 26 | €7,137 | €5,827 | -€1,310 | -18.3% |
| Financial fixed assets | 28 | €4,315 | €4,315 | = | 0.0% |
| Current assets | 29/58 | €567,279 | €588,186 | +€20,907 | +3.7% |
| Stocks and contracts in progress | 3 | €174,901 | €246,401 | +€71,500 | +40.9% |
| Stocks | 30/36 | €174,901 | €246,401 | +€71,500 | +40.9% |
| Amounts receivable within one year | 40/41 | €291,323 | €134,698 | -€156,624 | -53.8% |
| Trade receivables | 40 | €263,133 | €115,521 | -€147,612 | -56.1% |
| Other amounts receivable | 41 | €28,189 | €19,178 | -€9,012 | -32.0% |
| Cash at bank and in hand | 54/58 | €101,055 | €207,087 | +€106,032 | +105% |
| Total equity and liabilities | 10/49 | €595,546 | €611,282 | +€15,736 | +2.6% |
| Equity | 10/15 | €288,761 | €362,465 | +€73,703 | +25.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €270,169 | €343,873 | +€73,703 | +27.3% |
| Non-distributable reserves | 130/1 | €5,859 | €5,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,859 | €5,859 | = | 0.0% |
| Distributable reserves | 133 | €264,310 | €338,013 | +€73,703 | +27.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €306,785 | €248,817 | -€57,967 | -18.9% |
| Amounts payable after more than one year | 17 | €31,935 | €16,308 | -€15,627 | -48.9% |
| Financial debts | 170/4 | €31,935 | €16,308 | -€15,627 | -48.9% |
| Amounts payable within one year | 42/48 | €274,850 | €232,509 | -€42,341 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €14,974 | €15,627 | +€653 | +4.4% |
| Financial debts | 43 | €14,707 | €10,000 | -€4,707 | -32.0% |
| Credit institutions | 430/8 | €14,707 | €10,000 | -€4,707 | -32.0% |
| Trade debts | 44 | €74,202 | €32,844 | -€41,357 | -55.7% |
| Suppliers | 440/4 | €74,202 | €32,844 | -€41,357 | -55.7% |
| Advances received on contracts in progress | 46 | €17,370 | €0 | -€17,370 | -100% |
| Taxes, remuneration and social security | 45 | €45,093 | €58,296 | +€13,203 | +29.3% |
| Taxes | 450/3 | €35,915 | €53,447 | +€17,532 | +48.8% |
| Remuneration and social security | 454/9 | €9,178 | €4,849 | -€4,329 | -47.2% |
| Other amounts payable | 47/48 | €108,504 | €115,742 | +€7,238 | +6.7% |
| Non-recurring operating income | 76A | - | €2,765 | +€2,765 | |
| Remuneration, social security and pensions | 62 | €79,827 | €38,292 | -€41,535 | -52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,194 | €6,214 | +€21 | +0.3% |
| Other operating charges | 640/8 | €1,899 | €1,600 | -€298 | -15.7% |
| Gross operating margin | 9900 | €150,702 | €164,759 | +€14,056 | +9.3% |
| Operating profit (loss) | 9901 | €62,782 | €118,651 | +€55,869 | +89.0% |
| Financial income | 75/76B | €1,155 | €145 | -€1,010 | -87.4% |
| Recurring financial income | 75 | €1,155 | €145 | -€1,010 | -87.4% |
| Financial charges | 65/66B | €6,868 | €18,309 | +€11,441 | +167% |
| Recurring financial charges | 65 | €6,868 | €18,309 | +€11,441 | +167% |
| Profit (loss) for the period before taxes | 9903 | €57,069 | €100,488 | +€43,418 | +76.1% |
| Income taxes | 67/77 | €16,106 | €26,784 | +€10,678 | +66.3% |
| Profit (loss) for the period | 9904 | €40,963 | €73,703 | +€32,740 | +79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,963 | €73,703 | +€32,740 | +79.9% |
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 16 October 2026 via checked.be.