ARTEMIS: 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.
ARTEMIS
Largest movements
- Receivables within one year +€25,815
up €25,815 (+107.3%), from €24,065 to €49,880
- Tangible fixed assets -€20,876
down €20,876 (-30.6%), from €68,117 to €47,240
of which Land and buildings: -€13,304
- Stocks and contracts -€1,462
down €1,462 (-21.8%), from €6,693 to €5,230
- Cash -€1,413
down €1,413 (-14.9%), from €9,485 to €8,072
- Current portion of long-term debt +€6,685
up €6,685 (+66.2%), from €10,105 to €16,790
- Debts after one year -€5,620
down €5,620 (-21.8%), from €25,764 to €20,144
- Tax, wage and social debts +€4,958
up €4,958 (+83.4%), from €5,946 to €10,903
- Trade debts -€4,318
down €4,318 (-20.7%), from €20,817 to €16,499
- Depreciation -€9,806
down €9,806 (-34.6%), from €28,379 to €18,573
- Staff costs -€6,081
down €6,081 (-36.6%), from €16,607 to €10,526
- Gross operating margin -€5,212
down €5,212 (-7.2%), from €72,594 to €67,382
- Other operating charges +€1,708
up €1,708 (+28.4%), from €6,021 to €7,729
- Financial charges -€1,038
down €1,038 (-18.7%), from €5,553 to €4,515
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €109,092 | €111,225 | +€2,133 | +2.0% |
| Fixed assets | 21/28 | €68,117 | €47,240 | -€20,876 | -30.6% |
| Tangible fixed assets | 22/27 | €68,117 | €47,240 | -€20,876 | -30.6% |
| Land and buildings | 22 | €18,354 | €5,050 | -€13,304 | -72.5% |
| Plant, machinery and equipment | 23 | €5,791 | €6,070 | +€279 | +4.8% |
| Furniture and vehicles | 24 | €43,973 | €36,121 | -€7,851 | -17.9% |
| Current assets | 29/58 | €40,975 | €63,985 | +€23,009 | +56.2% |
| Stocks and contracts in progress | 3 | €6,693 | €5,230 | -€1,462 | -21.8% |
| Stocks | 30/36 | €6,693 | €5,230 | -€1,462 | -21.8% |
| Amounts receivable within one year | 40/41 | €24,065 | €49,880 | +€25,815 | +107.3% |
| Other amounts receivable | 41 | €24,065 | €49,880 | +€25,815 | +107.3% |
| Cash at bank and in hand | 54/58 | €9,485 | €8,072 | -€1,413 | -14.9% |
| Deferred charges and accrued income | 490/1 | €733 | €803 | +€70 | +9.5% |
| Total equity and liabilities | 10/49 | €109,092 | €111,225 | +€2,133 | +2.0% |
| Equity | 10/15 | €46,461 | €46,104 | -€357 | -0.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Share premium | 1100/10 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,869 | €27,512 | -€357 | -1.3% |
| Distributable reserves | 133 | €27,869 | €27,512 | -€357 | -1.3% |
| Amounts payable | 17/49 | €62,631 | €65,121 | +€2,490 | +4.0% |
| Amounts payable after more than one year | 17 | €25,764 | €20,144 | -€5,620 | -21.8% |
| Financial debts | 170/4 | €25,764 | €20,144 | -€5,620 | -21.8% |
| Amounts payable within one year | 42/48 | €36,867 | €44,977 | +€8,110 | +22.0% |
| Current portion of amounts payable after more than one year | 42 | €10,105 | €16,790 | +€6,685 | +66.2% |
| Trade debts | 44 | €20,817 | €16,499 | -€4,318 | -20.7% |
| Suppliers | 440/4 | €20,817 | €16,499 | -€4,318 | -20.7% |
| Taxes, remuneration and social security | 45 | €5,946 | €10,903 | +€4,958 | +83.4% |
| Taxes | 450/3 | €5,946 | €10,903 | +€4,958 | +83.4% |
| Other amounts payable | 47/48 | - | €785 | +€785 | |
| Remuneration, social security and pensions | 62 | €16,607 | €10,526 | -€6,081 | -36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,379 | €18,573 | -€9,806 | -34.6% |
| Other operating charges | 640/8 | €6,021 | €7,729 | +€1,708 | +28.4% |
| Non-recurring operating charges | 66A | €8,618 | €27,500 | +€18,882 | +219.1% |
| Gross operating margin | 9900 | €72,594 | €67,382 | -€5,212 | -7.2% |
| Operating profit (loss) | 9901 | €12,969 | €3,054 | -€9,915 | -76.5% |
| Financial income | 75/76B | €3 | €29 | +€27 | +980.5% |
| Recurring financial income | 75 | €3 | €29 | +€27 | +980.5% |
| Financial charges | 65/66B | €5,553 | €4,515 | -€1,038 | -18.7% |
| Recurring financial charges | 65 | €5,553 | €4,515 | -€1,038 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €7,419 | -€1,432 | -€8,851 | |
| Income taxes | 67/77 | €5,946 | €4,940 | -€1,006 | -16.9% |
| Profit (loss) for the period | 9904 | €1,473 | -€6,371 | -€7,845 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,473 | -€6,371 | -€7,845 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.