ARTEMAX: 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.
ARTEMAX
Largest movements
- Receivables within one year -€16,663
down €16,663 (-57.5%), from €28,992 to €12,329
of which Trade receivables: -€21,089
- Cash +€8,000
up €8,000 (+209%), from €3,830 to €11,830
mainly Depreciation (+€20,538) and Receivables within one year (+€16,663)
- Other debts -€15,314
down €15,314 (-16.8%), from €91,405 to €76,091
- Trade debts +€4,052
up €4,052 (+47.7%), from €8,502 to €12,554
- Profit (loss) carried forward +€3,165
up €3,165 (+6.0%), from -€53,071 to -€49,907
- Gross operating margin +€8,697
up €8,697 (+47.6%), from €18,265 to €26,962
- Depreciation -€3,015
down €3,015 (-12.8%), from €23,553 to €20,538
- Other operating charges -€852
down €852 (-32.0%), from €2,659 to €1,808
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 | €56,836 | €48,738 | -€8,097 | -14.2% |
| Fixed assets | 21/28 | €24,014 | €24,580 | +€566 | +2.4% |
| Tangible fixed assets | 22/27 | €22,664 | €23,230 | +€566 | +2.5% |
| Plant, machinery and equipment | 23 | €9,541 | €5,878 | -€3,662 | -38.4% |
| Furniture and vehicles | 24 | €13,123 | €17,352 | +€4,228 | +32.2% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €32,822 | €24,159 | -€8,663 | -26.4% |
| Amounts receivable within one year | 40/41 | €28,992 | €12,329 | -€16,663 | -57.5% |
| Trade receivables | 40 | €25,860 | €4,771 | -€21,089 | -81.5% |
| Other amounts receivable | 41 | €3,132 | €7,558 | +€4,426 | +141% |
| Cash at bank and in hand | 54/58 | €3,830 | €11,830 | +€8,000 | +209% |
| Total equity and liabilities | 10/49 | €56,836 | €48,738 | -€8,097 | -14.2% |
| Equity | 10/15 | -€43,071 | -€39,907 | +€3,165 | +7.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,071 | -€49,907 | +€3,165 | +6.0% |
| Amounts payable | 17/49 | €99,907 | €88,645 | -€11,262 | -11.3% |
| Amounts payable within one year | 42/48 | €99,907 | €88,645 | -€11,262 | -11.3% |
| Trade debts | 44 | €8,502 | €12,554 | +€4,052 | +47.7% |
| Suppliers | 440/4 | €8,502 | €12,554 | +€4,052 | +47.7% |
| Other amounts payable | 47/48 | €91,405 | €76,091 | -€15,314 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,553 | €20,538 | -€3,015 | -12.8% |
| Other operating charges | 640/8 | €2,659 | €1,808 | -€852 | -32.0% |
| Non-recurring operating charges | 66A | - | €1,157 | +€1,157 | |
| Gross operating margin | 9900 | €18,265 | €26,962 | +€8,697 | +47.6% |
| Operating profit (loss) | 9901 | -€7,947 | €3,460 | +€11,407 | |
| Financial charges | 65/66B | €300 | €295 | -€5 | -1.5% |
| Recurring financial charges | 65 | €300 | €295 | -€5 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,246 | €3,165 | +€11,411 | |
| Profit (loss) for the period | 9904 | -€8,246 | €3,165 | +€11,411 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,246 | €3,165 | +€11,411 |
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 13 October 2026 via checked.be.