ARTAMA: 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.
ARTAMA
Largest movements
- Cash -€51,536
down €51,536 (-47.8%), from €107,832 to €56,296
mainly Receivables within one year (-€34,923) and Stocks and contracts (-€24,644)
- Receivables within one year +€34,923
up €34,923 (+28.2%), from €123,800 to €158,723
- Stocks and contracts +€24,644
up €24,644 (+82.1%), from €30,000 to €54,644
- Tangible fixed assets -€11,759
down €11,759 (-22.8%), from €51,483 to €39,724
of which Land and buildings: -€8,093
- Debts after one year -€14,590
down €14,590 (-27.1%), from €53,843 to €39,253
- Reserves +€10,710
up €10,710 (+10.2%), from €105,399 to €116,109
- Gross operating margin +€11,194
up €11,194 (+26.1%), from €42,929 to €54,123
- Taxes +€3,624
up €3,624 (+46.8%), from €7,736 to €11,360
- Financial income +€1,520
up €1,520 (+61.6%), from €2,467 to €3,987
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 | €317,179 | €313,467 | -€3,712 | -1.2% |
| Fixed assets | 21/28 | €54,933 | €43,174 | -€11,759 | -21.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €51,483 | €39,724 | -€11,759 | -22.8% |
| Land and buildings | 22 | €35,289 | €27,196 | -€8,093 | -22.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €16,194 | €12,528 | -€3,667 | -22.6% |
| Financial fixed assets | 28 | €3,450 | €3,450 | = | 0.0% |
| Current assets | 29/58 | €262,246 | €270,293 | +€8,047 | +3.1% |
| Stocks and contracts in progress | 3 | €30,000 | €54,644 | +€24,644 | +82.1% |
| Stocks | 30/36 | €30,000 | €54,644 | +€24,644 | +82.1% |
| Amounts receivable within one year | 40/41 | €123,800 | €158,723 | +€34,923 | +28.2% |
| Other amounts receivable | 41 | €123,800 | €158,723 | +€34,923 | +28.2% |
| Cash at bank and in hand | 54/58 | €107,832 | €56,296 | -€51,536 | -47.8% |
| Deferred charges and accrued income | 490/1 | €615 | €631 | +€16 | +2.6% |
| Total equity and liabilities | 10/49 | €317,179 | €313,467 | -€3,712 | -1.2% |
| Equity | 10/15 | €140,210 | €150,921 | +€10,710 | +7.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €105,399 | €116,109 | +€10,710 | +10.2% |
| Distributable reserves | 133 | €105,399 | €116,109 | +€10,710 | +10.2% |
| Profit (loss) carried forward | 14 | €28,611 | €28,611 | = | 0.0% |
| Amounts payable | 17/49 | €176,969 | €162,546 | -€14,422 | -8.1% |
| Amounts payable after more than one year | 17 | €53,843 | €39,253 | -€14,590 | -27.1% |
| Financial debts | 170/4 | €53,843 | €39,253 | -€14,590 | -27.1% |
| Amounts payable within one year | 42/48 | €120,906 | €121,822 | +€916 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €14,813 | €14,590 | -€222 | -1.5% |
| Trade debts | 44 | €103,750 | €104,892 | +€1,141 | +1.1% |
| Suppliers | 440/4 | €103,750 | €104,892 | +€1,141 | +1.1% |
| Taxes, remuneration and social security | 45 | €320 | €2,340 | +€2,020 | +631.7% |
| Taxes | 450/3 | €320 | €2,340 | +€2,020 | +631.7% |
| Other amounts payable | 47/48 | €2,023 | - | -€2,023 | |
| Accrued charges and deferred income | 492/3 | €2,219 | €1,471 | -€748 | -33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,759 | €11,759 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €42,929 | €54,123 | +€11,194 | +26.1% |
| Operating profit (loss) | 9901 | €30,782 | €41,964 | +€11,182 | +36.3% |
| Financial income | 75/76B | €2,467 | €3,987 | +€1,520 | +61.6% |
| Recurring financial income | 75 | €2,467 | €3,987 | +€1,520 | +61.6% |
| Financial charges | 65/66B | €5,659 | €5,223 | -€435 | -7.7% |
| Recurring financial charges | 65 | €5,659 | €5,223 | -€435 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €27,590 | €40,728 | +€13,138 | +47.6% |
| Income taxes | 67/77 | €7,736 | €11,360 | +€3,624 | +46.8% |
| Profit (loss) for the period | 9904 | €19,854 | €29,368 | +€9,513 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,854 | €29,368 | +€9,513 | +47.9% |
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 11 October 2026 via checked.be.