ARTAMON: 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.
ARTAMON
Largest movements
- Receivables within one year -€32,837
down €32,837 (-16.3%), from €201,313 to €168,476
of which Trade receivables: -€33,151
- Cash -€29,780
down €29,780 (-82.6%), from €36,063 to €6,284
mainly Net result for the year (-€73,054) and Debts after one year (-€34,008)
- Intangible fixed assets -€18,886
down €18,886 (-42.2%), from €44,787 to €25,901
- Stocks and contracts +€5,499
up €5,499 (+5.2%), from €105,550 to €111,049
- Profit (loss) carried forward -€73,054
down €73,054 (-27.6%), from -€264,727 to -€337,781
- Debts after one year -€34,008
down €34,008 (-14.3%), from €237,982 to €203,974
- Trade debts +€29,743
up €29,743 (+17.6%), from €169,006 to €198,749
- Accrued charges and deferred income +€16,962
up €16,962 (+1,271%), from €1,334 to €18,296
- Short-term financial debts -€11,346
down €11,346 (-13.3%), from €85,581 to €74,235
of which Credit institutions: -€18,396
- Gross operating margin -€23,839
down €23,839 (-165%), from -€14,420 to -€38,258
- Financial charges -€1,990
down €1,990 (-16.0%), from €12,448 to €10,457
- Financial income -€1,610
down €1,610 (-88.2%), from €1,826 to €216
- Other operating charges +€545
up €545 (+13.9%), from €3,925 to €4,469
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 | €390,585 | €313,382 | -€77,203 | -19.8% |
| Fixed assets | 21/28 | €47,658 | €27,573 | -€20,085 | -42.1% |
| Intangible fixed assets | 21 | €44,787 | €25,901 | -€18,886 | -42.2% |
| Tangible fixed assets | 22/27 | €2,871 | €1,672 | -€1,199 | -41.8% |
| Plant, machinery and equipment | 23 | €364 | €0 | -€364 | -100% |
| Furniture and vehicles | 24 | €2,507 | €1,672 | -€835 | -33.3% |
| Current assets | 29/58 | €342,926 | €285,809 | -€57,118 | -16.7% |
| Stocks and contracts in progress | 3 | €105,550 | €111,049 | +€5,499 | +5.2% |
| Stocks | 30/36 | €105,550 | €111,049 | +€5,499 | +5.2% |
| Amounts receivable within one year | 40/41 | €201,313 | €168,476 | -€32,837 | -16.3% |
| Trade receivables | 40 | €193,068 | €159,917 | -€33,151 | -17.2% |
| Other amounts receivable | 41 | €8,245 | €8,559 | +€314 | +3.8% |
| Cash at bank and in hand | 54/58 | €36,063 | €6,284 | -€29,780 | -82.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €390,585 | €313,382 | -€77,203 | -19.8% |
| Equity | 10/15 | -€132,177 | -€205,231 | -€73,054 | -55.3% |
| Contributions | 10/11 | €132,550 | €132,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€264,727 | -€337,781 | -€73,054 | -27.6% |
| Amounts payable | 17/49 | €522,762 | €518,613 | -€4,149 | -0.8% |
| Amounts payable after more than one year | 17 | €237,982 | €203,974 | -€34,008 | -14.3% |
| Financial debts | 170/4 | €237,982 | €203,974 | -€34,008 | -14.3% |
| Amounts payable within one year | 42/48 | €283,446 | €296,343 | +€12,897 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €25,310 | €21,457 | -€3,853 | -15.2% |
| Financial debts | 43 | €85,581 | €74,235 | -€11,346 | -13.3% |
| Credit institutions | 430/8 | €75,000 | €56,604 | -€18,396 | -24.5% |
| Other loans | 439 | €10,581 | €17,631 | +€7,051 | +66.6% |
| Trade debts | 44 | €169,006 | €198,749 | +€29,743 | +17.6% |
| Suppliers | 440/4 | €169,006 | €198,749 | +€29,743 | +17.6% |
| Taxes, remuneration and social security | 45 | €2,348 | €231 | -€2,116 | -90.1% |
| Taxes | 450/3 | €2,348 | €231 | -€2,116 | -90.1% |
| Other amounts payable | 47/48 | €1,202 | €1,671 | +€469 | +39.0% |
| Accrued charges and deferred income | 492/3 | €1,334 | €18,296 | +€16,962 | +1,271% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,335 | €20,085 | -€249 | -1.2% |
| Other operating charges | 640/8 | €3,925 | €4,469 | +€545 | +13.9% |
| Gross operating margin | 9900 | -€14,420 | -€38,258 | -€23,839 | -165% |
| Operating profit (loss) | 9901 | -€38,679 | -€62,813 | -€24,134 | -62.4% |
| Financial income | 75/76B | €1,826 | €216 | -€1,610 | -88.2% |
| Recurring financial income | 75 | €1,826 | €216 | -€1,610 | -88.2% |
| Financial charges | 65/66B | €12,448 | €10,457 | -€1,990 | -16.0% |
| Recurring financial charges | 65 | €12,448 | €10,457 | -€1,990 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | -€49,300 | -€73,054 | -€23,754 | -48.2% |
| Profit (loss) for the period | 9904 | -€49,300 | -€73,054 | -€23,754 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,300 | -€73,054 | -€23,754 | -48.2% |
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 28 October 2026 via checked.be.