ARTEMIS: 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.
ARTEMIS
Largest movements
- Financial fixed assets -€67,238
down €67,238 (-99.7%), from €67,412 to €175
- Receivables within one year +€42,228
up €42,228 (+17.0%), from €248,880 to €291,108
of which Other amounts receivable: +€96,492
- Tangible fixed assets -€21,975
down €21,975 (-10.2%), from €215,732 to €193,757
of which Furniture and vehicles: -€20,342
- Cash +€7,903
up €7,903 (+201.5%), from €3,921 to €11,824
mainly Short-term financial debts (+€100,000) and Investment in fixed assets (net) (+€55,927)
- Short-term financial debts +€100,000
up €100,000 (+200.0%), from €50,000 to €150,000
- Reserves -€80,000
down €80,000 (-34.0%), from €235,241 to €155,241
of which Distributable reserves: -€80,000
- Profit (loss) carried forward -€65,498
down €65,498, from €37,337 to -€28,161
- Other debts +€37,010
up €37,010 (+150.7%), from €24,555 to €61,565
- Debts after one year -€24,406
down €24,406 (-27.3%), from €89,370 to €64,964
- Write-downs +€73,955
up €73,955 (+5766.5%), from €1,283 to €75,237
- Staff costs -€15,971
down €15,971 (-19.0%), from €83,935 to €67,963
- Taxes -€10,886
down €10,886 (-64.5%), from €16,886 to €6,000
- Gross operating margin -€10,869
down €10,869 (-7.9%), from €137,601 to €126,732
- Other operating charges -€8,118
down €8,118 (-84.7%), from €9,581 to €1,463
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 | €536,231 | €497,954 | -€38,277 | -7.1% |
| Fixed assets | 21/28 | €283,144 | €193,932 | -€89,212 | -31.5% |
| Tangible fixed assets | 22/27 | €215,732 | €193,757 | -€21,975 | -10.2% |
| Land and buildings | 22 | €160,449 | €158,816 | -€1,633 | -1.0% |
| Furniture and vehicles | 24 | €55,282 | €34,941 | -€20,342 | -36.8% |
| Financial fixed assets | 28 | €67,412 | €175 | -€67,238 | -99.7% |
| Current assets | 29/58 | €253,087 | €304,023 | +€50,935 | +20.1% |
| Amounts receivable within one year | 40/41 | €248,880 | €291,108 | +€42,228 | +17.0% |
| Trade receivables | 40 | €61,434 | €7,170 | -€54,265 | -88.3% |
| Other amounts receivable | 41 | €187,446 | €283,938 | +€96,492 | +51.5% |
| Cash at bank and in hand | 54/58 | €3,921 | €11,824 | +€7,903 | +201.5% |
| Deferred charges and accrued income | 490/1 | €286 | €1,091 | +€805 | +281.7% |
| Total equity and liabilities | 10/49 | €536,231 | €497,954 | -€38,277 | -7.1% |
| Equity | 10/15 | €291,178 | €145,680 | -€145,498 | -50.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €235,241 | €155,241 | -€80,000 | -34.0% |
| Non-distributable reserves | 130/1 | €6,207 | €6,207 | = | 0.0% |
| Legal reserve | 130 | €6,207 | - | -€6,207 | |
| Reserves not available under the articles | 1311 | - | €6,207 | +€6,207 | |
| Distributable reserves | 133 | €229,034 | €149,034 | -€80,000 | -34.9% |
| Profit (loss) carried forward | 14 | €37,337 | -€28,161 | -€65,498 | |
| Amounts payable | 17/49 | €245,053 | €352,274 | +€107,221 | +43.8% |
| Amounts payable after more than one year | 17 | €89,370 | €64,964 | -€24,406 | -27.3% |
| Financial debts | 170/4 | €89,370 | €64,964 | -€24,406 | -27.3% |
| Amounts payable within one year | 42/48 | €155,683 | €287,310 | +€131,628 | +84.5% |
| Current portion of amounts payable after more than one year | 42 | €23,691 | €24,388 | +€697 | +2.9% |
| Financial debts | 43 | €50,000 | €150,000 | +€100,000 | +200.0% |
| Credit institutions | 430/8 | €50,000 | €150,000 | +€100,000 | +200.0% |
| Trade debts | 44 | €7,309 | €18,809 | +€11,500 | +157.3% |
| Suppliers | 440/4 | €7,309 | €18,809 | +€11,500 | +157.3% |
| Taxes, remuneration and social security | 45 | €50,128 | €32,549 | -€17,579 | -35.1% |
| Taxes | 450/3 | €38,460 | €27,705 | -€10,755 | -28.0% |
| Remuneration and social security | 454/9 | €11,668 | €4,844 | -€6,824 | -58.5% |
| Other amounts payable | 47/48 | €24,555 | €61,565 | +€37,010 | +150.7% |
| Remuneration, social security and pensions | 62 | €83,935 | €67,963 | -€15,971 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,282 | €33,286 | -€2,996 | -8.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,283 | €75,237 | +€73,955 | +5766.5% |
| Other operating charges | 640/8 | €9,581 | €1,463 | -€8,118 | -84.7% |
| Gross operating margin | 9900 | €137,601 | €126,732 | -€10,869 | -7.9% |
| Operating profit (loss) | 9901 | €6,521 | -€51,217 | -€57,739 | |
| Financial income | 75/76B | €18 | €0 | -€18 | -98.3% |
| Recurring financial income | 75 | €18 | €0 | -€18 | -98.3% |
| Financial charges | 65/66B | €11,130 | €8,281 | -€2,849 | -25.6% |
| Recurring financial charges | 65 | €11,130 | €8,281 | -€2,849 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,590 | -€59,498 | -€54,908 | -1196.2% |
| Income taxes | 67/77 | €16,886 | €6,000 | -€10,886 | -64.5% |
| Profit (loss) for the period | 9904 | -€21,476 | -€65,498 | -€44,022 | -205.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,476 | -€65,498 | -€44,022 | -205.0% |
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 10 October 2026 via checked.be.