VD-Artrovets: 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.
VD-Artrovets
Largest movements
- Cash +€81,497
up €81,497 (+152%), from €53,573 to €135,069
mainly Net result for the year (+€63,196) and Receivables within one year (+€34,155)
- Receivables within one year -€34,155
down €34,155 (-71.4%), from €47,826 to €13,671
of which Trade receivables: -€34,315
- Tangible fixed assets -€9,922
down €9,922 (-18.3%), from €54,364 to €44,442
of which Furniture and vehicles: -€6,896
- Reserves +€63,196
up €63,196 (+74.6%), from €84,731 to €147,926
- Trade debts -€13,431
down €13,431 (-90.2%), from €14,894 to €1,463
- Debts after one year -€8,724
down €8,724 (-56.3%), from €15,500 to €6,775
- Other debts -€5,786
down €5,786 (-74.4%), from €7,779 to €1,992
- Gross operating margin -€19,580
down €19,580 (-17.7%), from €110,849 to €91,268
- Depreciation +€6,885
up €6,885 (+227%), from €3,037 to €9,922
- Taxes -€5,873
down €5,873 (-26.8%), from €21,898 to €16,025
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 | €156,236 | €193,673 | +€37,438 | +24.0% |
| Fixed assets | 21/28 | €54,364 | €44,442 | -€9,922 | -18.3% |
| Tangible fixed assets | 22/27 | €54,364 | €44,442 | -€9,922 | -18.3% |
| Plant, machinery and equipment | 23 | €22,364 | €19,338 | -€3,026 | -13.5% |
| Furniture and vehicles | 24 | €32,000 | €25,105 | -€6,896 | -21.5% |
| Current assets | 29/58 | €101,872 | €149,231 | +€47,359 | +46.5% |
| Amounts receivable within one year | 40/41 | €47,826 | €13,671 | -€34,155 | -71.4% |
| Trade receivables | 40 | €47,591 | €13,277 | -€34,315 | -72.1% |
| Other amounts receivable | 41 | €235 | €394 | +€159 | +67.8% |
| Cash at bank and in hand | 54/58 | €53,573 | €135,069 | +€81,497 | +152% |
| Deferred charges and accrued income | 490/1 | €473 | €491 | +€18 | +3.8% |
| Total equity and liabilities | 10/49 | €156,236 | €193,673 | +€37,438 | +24.0% |
| Equity | 10/15 | €87,731 | €150,926 | +€63,196 | +72.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €84,731 | €147,926 | +€63,196 | +74.6% |
| Distributable reserves | 133 | €84,731 | €147,926 | +€63,196 | +74.6% |
| Amounts payable | 17/49 | €68,505 | €42,747 | -€25,758 | -37.6% |
| Amounts payable after more than one year | 17 | €15,500 | €6,775 | -€8,724 | -56.3% |
| Financial debts | 170/4 | €15,500 | €6,775 | -€8,724 | -56.3% |
| Amounts payable within one year | 42/48 | €53,005 | €35,972 | -€17,034 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €8,383 | €8,724 | +€341 | +4.1% |
| Trade debts | 44 | €14,894 | €1,463 | -€13,431 | -90.2% |
| Suppliers | 440/4 | €14,894 | €1,463 | -€13,431 | -90.2% |
| Taxes, remuneration and social security | 45 | €21,949 | €23,792 | +€1,843 | +8.4% |
| Taxes | 450/3 | €21,949 | €23,792 | +€1,843 | +8.4% |
| Other amounts payable | 47/48 | €7,779 | €1,992 | -€5,786 | -74.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,037 | €9,922 | +€6,885 | +227% |
| Other operating charges | 640/8 | €832 | €1,144 | +€312 | +37.5% |
| Gross operating margin | 9900 | €110,849 | €91,268 | -€19,580 | -17.7% |
| Operating profit (loss) | 9901 | €106,980 | €80,203 | -€26,777 | -25.0% |
| Financial charges | 65/66B | €351 | €982 | +€631 | +180% |
| Recurring financial charges | 65 | €351 | €982 | +€631 | +180% |
| Profit (loss) for the period before taxes | 9903 | €106,629 | €79,221 | -€27,408 | -25.7% |
| Income taxes | 67/77 | €21,898 | €16,025 | -€5,873 | -26.8% |
| Profit (loss) for the period | 9904 | €84,731 | €63,196 | -€21,535 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,731 | €63,196 | -€21,535 | -25.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.