Secundum Artem: 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.
Secundum Artem
Largest movements
- Cash -€308
down €308 (-90.8%), from €339 to €31
mainly Net result for the year (-€2,521) and Trade debts (-€394)
- Stocks and contracts -€281
down €281 (-8.3%), from €3,411 to €3,130
- Receivables within one year -€81
down €81 (-100%), from €81 to €0
of which Trade receivables: -€45
- Profit (loss) carried forward -€2,521
down €2,521 (-13.4%), from -€18,867 to -€21,388
- Other debts +€2,245
up €2,245 (+97.5%), from €2,304 to €4,549
- Trade debts -€394
down €394 (-100%), from €394 to €0
- Gross operating margin +€198
up €198 (+10.2%), from -€1,945 to -€1,747
- Other operating charges -€181
down €181 (-20.9%), from €865 to €684
- Financial charges -€32
down €32 (-26.3%), from €122 to €90
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 | €3,831 | €3,161 | -€670 | -17.5% |
| Current assets | 29/58 | €3,831 | €3,161 | -€670 | -17.5% |
| Stocks and contracts in progress | 3 | €3,411 | €3,130 | -€281 | -8.3% |
| Stocks | 30/36 | €3,411 | €3,130 | -€281 | -8.3% |
| Amounts receivable within one year | 40/41 | €81 | €0 | -€81 | -100% |
| Trade receivables | 40 | €45 | €0 | -€45 | -100% |
| Other amounts receivable | 41 | €36 | €0 | -€36 | -100% |
| Cash at bank and in hand | 54/58 | €339 | €31 | -€308 | -90.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,831 | €3,161 | -€670 | -17.5% |
| Equity | 10/15 | €1,133 | -€1,388 | -€2,521 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,867 | -€21,388 | -€2,521 | -13.4% |
| Amounts payable | 17/49 | €2,698 | €4,549 | +€1,851 | +68.6% |
| Amounts payable within one year | 42/48 | €2,698 | €4,549 | +€1,851 | +68.6% |
| Trade debts | 44 | €394 | €0 | -€394 | -100% |
| Suppliers | 440/4 | €394 | €0 | -€394 | -100% |
| Other amounts payable | 47/48 | €2,304 | €4,549 | +€2,245 | +97.5% |
| Other operating charges | 640/8 | €865 | €684 | -€181 | -20.9% |
| Gross operating margin | 9900 | -€1,945 | -€1,747 | +€198 | +10.2% |
| Operating profit (loss) | 9901 | -€2,810 | -€2,432 | +€378 | +13.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €122 | €90 | -€32 | -26.3% |
| Recurring financial charges | 65 | €122 | €90 | -€32 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,932 | -€2,521 | +€410 | +14.0% |
| Profit (loss) for the period | 9904 | -€2,932 | -€2,521 | +€410 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,932 | -€2,521 | +€410 | +14.0% |
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.