ART'EMIS: 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.
ART'EMIS
Largest movements
- Receivables within one year +€16,351
up €16,351 (+22.0%), from €74,334 to €90,685
of which Trade receivables: +€16,351
- Tangible fixed assets +€5,747
up €5,747 (+2.5%), from €230,614 to €236,361
of which Land and buildings: +€27,966
- Trade debts +€48,677
up €48,677 (+1264.1%), from €3,851 to €52,528
- Debts after one year -€23,837
down €23,837 (-46.5%), from €51,261 to €27,424
- Current portion of long-term debt -€9,282
down €9,282 (-28.0%), from €33,119 to €23,837
- Other debts +€7,418
up €7,418 (+7.9%), from €93,674 to €101,092
- Gross operating margin +€22,926
up €22,926 (+277.5%), from €8,261 to €31,188
- Financial charges +€6,864
up €6,864 (+143.6%), from €4,778 to €11,642
of which Non-recurring financial charges: +€7,060
- Depreciation +€2,070
up €2,070 (+12.5%), from €16,499 to €18,569
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.
Cash bridge derived
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 | €329,659 | €351,982 | +€22,323 | +6.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €253,114 | €258,861 | +€5,747 | +2.3% |
| Tangible fixed assets | 22/27 | €230,614 | €236,361 | +€5,747 | +2.5% |
| Land and buildings | 22 | €4,121 | €32,087 | +€27,966 | +678.6% |
| Plant, machinery and equipment | 23 | €3,676 | €3,673 | -€3 | -0.1% |
| Furniture and vehicles | 24 | €20,339 | €9,372 | -€10,968 | -53.9% |
| Assets under construction and advance payments | 27 | €202,478 | €191,229 | -€11,249 | -5.6% |
| Financial fixed assets | 28 | €22,500 | €22,500 | = | 0.0% |
| Current assets | 29/58 | €76,545 | €93,121 | +€16,576 | +21.7% |
| Amounts receivable within one year | 40/41 | €74,334 | €90,685 | +€16,351 | +22.0% |
| Trade receivables | 40 | €27,830 | €44,181 | +€16,351 | +58.8% |
| Other amounts receivable | 41 | €46,504 | €46,504 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,211 | €2,436 | +€225 | +10.2% |
| Total equity and liabilities | 10/49 | €329,659 | €351,982 | +€22,323 | +6.8% |
| Equity | 10/15 | €138,415 | €138,747 | +€332 | +0.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €132,444 | €132,444 | = | 0.0% |
| Distributable reserves | 133 | €132,444 | €132,444 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,430 | -€6,097 | +€332 | +5.2% |
| Amounts payable | 17/49 | €191,244 | €213,235 | +€21,990 | +11.5% |
| Amounts payable after more than one year | 17 | €51,261 | €27,424 | -€23,837 | -46.5% |
| Financial debts | 170/4 | €51,261 | €27,424 | -€23,837 | -46.5% |
| Amounts payable within one year | 42/48 | €139,983 | €185,810 | +€45,827 | +32.7% |
| Current portion of amounts payable after more than one year | 42 | €33,119 | €23,837 | -€9,282 | -28.0% |
| Trade debts | 44 | €3,851 | €52,528 | +€48,677 | +1264.1% |
| Suppliers | 440/4 | €3,851 | €52,528 | +€48,677 | +1264.1% |
| Taxes, remuneration and social security | 45 | €9,340 | €8,354 | -€986 | -10.6% |
| Taxes | 450/3 | €9,340 | €8,354 | -€986 | -10.6% |
| Other amounts payable | 47/48 | €93,674 | €101,092 | +€7,418 | +7.9% |
| Non-recurring operating income | 76A | - | €1,060 | +€1,060 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,499 | €18,569 | +€2,070 | +12.5% |
| Other operating charges | 640/8 | €59 | €62 | +€3 | +4.4% |
| Gross operating margin | 9900 | €8,261 | €31,188 | +€22,926 | +277.5% |
| Operating profit (loss) | 9901 | -€8,297 | €12,557 | +€20,854 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €4,778 | €11,642 | +€6,864 | +143.6% |
| Recurring financial charges | 65 | €4,778 | €4,582 | -€196 | -4.1% |
| Non-recurring financial charges | 66B | - | €7,060 | +€7,060 | |
| Profit (loss) for the period before taxes | 9903 | -€13,075 | €914 | +€13,990 | |
| Income taxes | 67/77 | €408 | €582 | +€174 | +42.5% |
| Profit (loss) for the period | 9904 | -€13,484 | €332 | +€13,816 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,484 | €332 | +€13,816 |
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 9 October 2026 via checked.be.