The Artist: 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.
The Artist
Largest movements
- Tangible fixed assets +€26,901
up €26,901 (+3,086%), from €872 to €27,773
of which Furniture and vehicles: +€27,502
- Receivables within one year -€24,030
down €24,030 (-61.3%), from €39,169 to €15,139
of which Trade receivables: -€25,040
- Cash +€10,862
up €10,862 (+30.4%), from €35,712 to €46,574
mainly Net result for the year (+€85,333) and Receivables within one year (+€24,030)
- Stocks and contracts +€9,971
up €9,971 (+5.1%), from €193,722 to €203,693
- Trade debts -€106,817
down €106,817 (-61.0%), from €175,005 to €68,188
- Reserves +€85,333
up €85,333 (+628%), from €13,578 to €98,911
- Tax, wage and social debts +€23,868
up €23,868 (+290%), from €8,228 to €32,096
of which Taxes: +€24,807
- Debts after one year +€16,740
new in 2025: €16,740
- Current portion of long-term debt +€5,480
new in 2025: €5,480
- Gross operating margin +€83,160
up €83,160 (+154%), from €54,093 to €137,252
- Taxes +€18,637
up €18,637 (+483%), from €3,861 to €22,498
- Staff costs +€13,604
new in 2025: €13,604
- Depreciation -€1,752
down €1,752 (-51.0%), from €3,433 to €1,682
- Financial charges +€1,580
up €1,580 (+14.0%), from €11,326 to €12,906
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 | €273,225 | €297,556 | +€24,331 | +8.9% |
| Fixed assets | 21/28 | €4,622 | €31,523 | +€26,901 | +582% |
| Tangible fixed assets | 22/27 | €872 | €27,773 | +€26,901 | +3,086% |
| Plant, machinery and equipment | 23 | €872 | €271 | -€601 | -68.9% |
| Furniture and vehicles | 24 | - | €27,502 | +€27,502 | |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €268,603 | €266,033 | -€2,570 | -1.0% |
| Stocks and contracts in progress | 3 | €193,722 | €203,693 | +€9,971 | +5.1% |
| Stocks | 30/36 | €193,722 | €203,693 | +€9,971 | +5.1% |
| Amounts receivable within one year | 40/41 | €39,169 | €15,139 | -€24,030 | -61.3% |
| Trade receivables | 40 | €37,325 | €12,285 | -€25,040 | -67.1% |
| Other amounts receivable | 41 | €1,843 | €2,853 | +€1,010 | +54.8% |
| Cash at bank and in hand | 54/58 | €35,712 | €46,574 | +€10,862 | +30.4% |
| Deferred charges and accrued income | 490/1 | - | €627 | +€627 | |
| Total equity and liabilities | 10/49 | €273,225 | €297,556 | +€24,331 | +8.9% |
| Equity | 10/15 | €88,578 | €173,911 | +€85,333 | +96.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €13,578 | €98,911 | +€85,333 | +628% |
| Distributable reserves | 133 | €13,578 | €98,911 | +€85,333 | +628% |
| Amounts payable | 17/49 | €184,646 | €123,644 | -€61,002 | -33.0% |
| Amounts payable after more than one year | 17 | - | €16,740 | +€16,740 | |
| Financial debts | 170/4 | - | €16,740 | +€16,740 | |
| Amounts payable within one year | 42/48 | €184,646 | €106,905 | -€77,742 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | - | €5,480 | +€5,480 | |
| Trade debts | 44 | €175,005 | €68,188 | -€106,817 | -61.0% |
| Suppliers | 440/4 | €175,005 | €68,188 | -€106,817 | -61.0% |
| Taxes, remuneration and social security | 45 | €8,228 | €32,096 | +€23,868 | +290% |
| Taxes | 450/3 | €6,078 | €30,885 | +€24,807 | +408% |
| Remuneration and social security | 454/9 | €2,150 | €1,211 | -€939 | -43.7% |
| Other amounts payable | 47/48 | €1,413 | €1,141 | -€272 | -19.3% |
| Remuneration, social security and pensions | 62 | - | €13,604 | +€13,604 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,433 | €1,682 | -€1,752 | -51.0% |
| Other operating charges | 640/8 | €1,929 | €1,230 | -€699 | -36.2% |
| Non-recurring operating charges | 66A | €20,000 | €0 | -€20,000 | -100% |
| Gross operating margin | 9900 | €54,093 | €137,252 | +€83,160 | +154% |
| Operating profit (loss) | 9901 | €28,730 | €120,737 | +€92,006 | +320% |
| Financial income | 75/76B | €35 | €0 | -€35 | -100% |
| Recurring financial income | 75 | €35 | €0 | -€35 | -100% |
| Financial charges | 65/66B | €11,326 | €12,906 | +€1,580 | +14.0% |
| Recurring financial charges | 65 | €11,326 | €12,906 | +€1,580 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €17,439 | €107,831 | +€90,391 | +518% |
| Income taxes | 67/77 | €3,861 | €22,498 | +€18,637 | +483% |
| Profit (loss) for the period | 9904 | €13,578 | €85,333 | +€71,755 | +528% |
| Profit (loss) for the period to be appropriated | 9905 | €13,578 | €85,333 | +€71,755 | +528% |
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.