ARTIM
InactiveFinancials · financial year 2022, abbreviated format, standalone accounts
Equity
€7.5m▲ 46.6%
2021 · €5.1m
Total assets
€23.9m▲ 10.0%
2021 · €21.8m
Net result
€2.4m▲ 114%
2021 · €1.1m
Working capital
€2.7m
2021 · -€12.4m
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result recovers in 2022; 2022 is 86% above 2021 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€2.6m
2022
Net result€2.4m
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€23.9m
2022
Equity€7.5m
2022
Debt€16.5m
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€2.7m
2022
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result€0.9m-€1.0m▲ 6.7%€2.2m▲ 120%€1.4m▼ 36.5%€2.6m▲ 85.6%
Net result€0.8m-€0.7m▼ 17.8%€5.5m▲ 735%€1.1m▼ 79.8%€2.4m▲ 114%
Equity€9.6m-€10.2m▲ 6.9%€4.0m▼ 60.9%€5.1m▲ 27.8%€7.5m▲ 46.6%
Total assets€21.0m-€21.9m▲ 4.2%€22.7m▲ 3.6%€21.8m▼ 4.2%€23.9m▲ 10.0%
Debt€11.5m-€11.7m▲ 2.0%€18.7m▲ 60.1%€16.7m▼ 11.0%€16.5m▼ 1.2%
Working capital-€8.8m--€7.9m▲ 11.0%-€13.9m▼ 77.3%-€12.4m▲ 11.0%€2.7m
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €23.9m
Fixed assets
€5.1m ▼ 71.5%
Current assets
€18.9m ▲ 377%
Equity and liabilities €23.9m
Equity
€7.5m ▲ 46.6%
Debt
€16.5m ▼ 1.2%
Debt's share of the balance-sheet total falls from 76.5% to 68.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.8m▲
2021 · €1.7m
Cash flow
€2.6m▲
2021 · €1.4m
Current ratio
1.16▲
2021 · 0.24
Debt to equity
2.20▼
2021 · 3.26
ROE
31.8%▲
2021 · 21.8%
ROA
9.9%▲
2021 · 5.1%
Interest coverage
over 100
2021 · over 100
Debt ≤ 1 year
€16.2m▼
2021 · €16.4m
Income taxes
€327,138▼
2021 · €364,551
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.06m | €1.4m | ▲ 22× |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 6.7% |
| Other operating charges640/8 | - | - | - | €0.09m | €0.09m | ▲ 2.2% |
| Gross operating margin9900 | €1.4m | €1.5m | €2.7m | €1.8m | €2.9m | ▲ 66.9% |
| Operating profit (loss)9901 | €0.9m | €1.0m | €2.2m | €1.4m | €2.6m | ▲ 85.6% |
| Financial income75/76B | - | - | - | €0.09m | €0.1m | ▲ 32.6% |
| Recurring financial income75 | €0.1m | €0.09m | €4.0m | €0.09m | €0.1m | ▲ 32.6% |
| Financial charges65/66B | - | - | - | €0.01m | €289 | ▼ 97.2% |
| Recurring financial charges65 | €0.2m | €0.2m | €0.04m | €0.01m | €289 | ▼ 97.2% |
| Profit (loss) for the period before taxes9903 | €1.0m | €0.9m | €6.1m | €1.5m | €2.7m | ▲ 83.5% |
| Income taxes67/77 | €0.2m | €0.3m | €0.6m | €0.4m | €0.3m | ▼ 10.3% |
| Profit (loss) for the period9904 | €0.8m | €0.7m | €5.5m | €1.1m | €2.4m | ▲ 114% |
| Transfer to tax-exempt reserves689 | - | - | - | €0.6m | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.8m | €0.2m | €5.6m | €0.5m | €2.4m | ▲ 356% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €21.0m | €21.9m | €22.7m | €21.8m | €23.9m | ▲ 10.0% |
| Fixed assets21/28 | €18.6m | €18.3m | €18.2m | €17.8m | €5.1m | ▼ 71.5% |
| Tangible fixed assets22/27 | €5.9m | €5.6m | €5.5m | €5.2m | €5.0m | ▼ 4.5% |
| Land and buildings22 | - | - | - | €4.6m | €4.5m | ▼ 1.9% |
| Plant, machinery and equipment23 | - | - | - | €0.6m | €0.4m | ▼ 24.9% |
| Furniture and vehicles24 | - | - | - | €0.004m | €0.003m | ▼ 19.4% |
| Financial fixed assets28 | €12.7m | €12.7m | €12.7m | €12.6m | €0.09m | ▼ 99.3% |
| Current assets29/58 | €2.4m | €3.6m | €4.6m | €4.0m | €18.9m | ▲ 377% |
| Amounts receivable after more than one year29 | - | - | - | €2.4m | €16.3m | ▲ 581% |
| Trade receivables290 | - | - | - | €2.4m | €16.3m | ▲ 581% |
| Amounts receivable within one year40/41 | €1.5m | €2.3m | €1.9m | €1.0m | €1.6m | ▲ 57.3% |
| Trade receivables40 | - | - | - | €0.4m | €0.3m | ▼ 11.7% |
| Other amounts receivable41 | - | - | - | €0.7m | €1.3m | ▲ 94.0% |
| Cash at bank and in hand54/58 | €0.1m | €0.5m | €1.5m | €0.4m | €0.9m | ▲ 118% |
| Deferred charges and accrued income490/1 | - | - | - | €0.1m | €0.05m | ▼ 50.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €21.0m | €21.9m | €22.7m | €21.8m | €23.9m | ▲ 10.0% |
| Equity10/15 | €9.6m | €10.2m | €4.0m | €5.1m | €7.5m | ▲ 46.6% |
| Contributions10/11 | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Capital10 | - | - | - | €3.3m | €3.3m | = |
| Issued capital100 | - | - | - | €3.3m | €3.3m | = |
| Reserves13 | €6.2m | €6.9m | €0.7m | €1.8m | €4.1m | ▲ 135% |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.3m | ▲ 52.5% |
| Legal reserve130 | - | - | - | €0.2m | €0.3m | ▲ 52.5% |
| Tax-exempt reserves132 | - | - | - | €1.1m | €1.1m | = |
| Distributable reserves133 | - | - | - | €0.5m | €2.8m | ▲ 457% |
| Amounts payable17/49 | €11.5m | €11.7m | €18.7m | €16.7m | €16.5m | ▼ 1.2% |
| Amounts payable within one year42/48 | €11.3m | €11.5m | €18.5m | €16.4m | €16.2m | ▼ 1.0% |
| Trade debts44 | €0.06m | €0.05m | €0.3m | €0.2m | €0.006m | ▼ 97.1% |
| Suppliers440/4 | - | - | - | €0.2m | €0.006m | ▼ 97.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.006m | €0.01m | ▲ 149% |
| Taxes450/3 | - | - | - | €0.006m | €0.01m | ▲ 149% |
| Other amounts payable47/48 | - | - | - | €16.1m | €16.2m | ▲ 0.2% |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.2m | ▼ 12.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.8m | €0.7m | €5.5m | €1.1m | €2.4m | ▲ 114% |
| + Depreciation and write-downs630 | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 6.7% |
| Operating cash flow (approximation) | €1.2m | €1.0m | €5.8m | €1.4m | €2.6m | ▲ 90.1% |
| Investment in fixed assets (approximation) | - | -€0.07m | -€0.2m | €0.07m | €12.5m | ▲ 190× |
| Change in cash | - | €0.4m | €1.0m | -€1.1m | €0.5m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 48 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2022 | abbreviated format | 25-05-2023 | 2023-00093884 |
| 31-12-2021 | abbreviated format | 11-05-2022 | 2022-20026298 |
| 31-12-2020 | abbreviated format | 05-05-2021 | 2021-13400199 |
| 31-12-2019 | abbreviated format | 15-05-2020 | 2020-12400331 |
| 31-12-2018 | abbreviated format | 07-06-2019 | 2019-16800149 |
| 31-12-2017 | abbreviated format | 13-06-2018 | 2018-18300331 |
| 31-12-2016 | abbreviated format | 09-06-2017 | 2017-16200303 |
| 31-12-2015 | full format | 06-05-2016 | 2016-11800359 |
| 31-12-2014 | full format | 28-07-2015 | 2015-35900502 |
| 31-03-2014 | consolidated | 10-11-2014 | 2014-66900064 |
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €809 awarded · €809 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €525 | €525 |
| 2022 | 1 | €284 | €284 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.