ARTEDEM: what changed
Two fiscal 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.
ARTEDEM
Largest movements
- Cash -€28,070
down €28,070 (-43.3%), from €64,768 to €36,698
mainly Receivables within one year (-€21,591) and Net result for the year (-€13,076)
- Receivables within one year +€21,591
up €21,591 (+230.1%), from €9,385 to €30,976
of which Trade receivables: +€17,426
- Tangible fixed assets -€4,979
down €4,979 (-22.5%), from €22,082 to €17,103
- Deferred charges and accrued income +€1,068
up €1,068 (+42.3%), from €2,524 to €3,591
- Profit (loss) carried forward -€13,076
down €13,076 (-22.2%), from €58,963 to €45,886
- Trade debts +€10,614
up €10,614 (+297.0%), from €3,574 to €14,188
- Accrued charges and deferred income -€4,834
down €4,834 (-46.1%), from €10,494 to €5,660
- Debts after one year -€3,497
down €3,497 (-31.9%), from €10,980 to €7,483
- Gross operating margin -€39,264
down €39,264, from €35,394 to -€3,870
- Taxes -€5,042
no longer reported in 2025 (was €5,042)
- Depreciation +€994
up €994 (+17.4%), from €5,706 to €6,701
- Other operating charges +€369
up €369 (+95.3%), from €387 to €756
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 | €101,558 | €90,939 | -€10,619 | -10.5% |
| Fixed assets | 21/28 | €22,082 | €17,393 | -€4,689 | -21.2% |
| Tangible fixed assets | 22/27 | €22,082 | €17,103 | -€4,979 | -22.5% |
| Plant, machinery and equipment | 23 | €6,834 | €5,407 | -€1,427 | -20.9% |
| Furniture and vehicles | 24 | €4,282 | €2,914 | -€1,367 | -31.9% |
| Other tangible fixed assets | 26 | €10,966 | €8,782 | -€2,184 | -19.9% |
| Financial fixed assets | 28 | - | €290 | +€290 | |
| Current assets | 29/58 | €79,476 | €73,546 | -€5,931 | -7.5% |
| Stocks and contracts in progress | 3 | €2,800 | €2,280 | -€520 | -18.6% |
| Stocks | 30/36 | €2,800 | €2,280 | -€520 | -18.6% |
| Amounts receivable within one year | 40/41 | €9,385 | €30,976 | +€21,591 | +230.1% |
| Trade receivables | 40 | €6,092 | €23,518 | +€17,426 | +286.0% |
| Other amounts receivable | 41 | €3,292 | €7,458 | +€4,166 | +126.5% |
| Cash at bank and in hand | 54/58 | €64,768 | €36,698 | -€28,070 | -43.3% |
| Deferred charges and accrued income | 490/1 | €2,524 | €3,591 | +€1,068 | +42.3% |
| Total equity and liabilities | 10/49 | €101,558 | €90,939 | -€10,619 | -10.5% |
| Equity | 10/15 | €70,963 | €57,886 | -€13,076 | -18.4% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,963 | €45,886 | -€13,076 | -22.2% |
| Amounts payable | 17/49 | €30,596 | €33,053 | +€2,457 | +8.0% |
| Amounts payable after more than one year | 17 | €10,980 | €7,483 | -€3,497 | -31.9% |
| Financial debts | 170/4 | €10,980 | €7,483 | -€3,497 | -31.9% |
| Amounts payable within one year | 42/48 | €9,122 | €19,910 | +€10,788 | +118.3% |
| Current portion of amounts payable after more than one year | 42 | €3,324 | €3,497 | +€174 | +5.2% |
| Trade debts | 44 | €3,574 | €14,188 | +€10,614 | +297.0% |
| Suppliers | 440/4 | €3,574 | €14,188 | +€10,614 | +297.0% |
| Taxes, remuneration and social security | 45 | €1,042 | €1,042 | = | 0.0% |
| Taxes | 450/3 | €1,042 | €1,042 | = | 0.0% |
| Other amounts payable | 47/48 | €1,183 | €1,183 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €10,494 | €5,660 | -€4,834 | -46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,706 | €6,701 | +€994 | +17.4% |
| Other operating charges | 640/8 | €387 | €756 | +€369 | +95.3% |
| Non-recurring operating charges | 66A | €5,591 | €86 | -€5,505 | -98.5% |
| Gross operating margin | 9900 | €35,394 | -€3,870 | -€39,264 | |
| Operating profit (loss) | 9901 | €23,710 | -€11,413 | -€35,123 | |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €1,634 | €1,673 | +€39 | +2.4% |
| Recurring financial charges | 65 | €1,634 | €1,673 | +€39 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €22,076 | -€13,076 | -€35,153 | |
| Income taxes | 67/77 | €5,042 | - | -€5,042 | |
| Profit (loss) for the period | 9904 | €17,034 | -€13,076 | -€30,111 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,034 | -€13,076 | -€30,111 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.