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
- Cash +€243,628
up €243,628 (+3,925%), from €6,207 to €249,836
mainly Net result for the year (+€376,695) and Current investments (+€150,000)
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Receivables within one year +€28,752
up €28,752 (+1,020%), from €2,819 to €31,571
of which Trade receivables: +€30,733
- Other debts +€125,449
up €125,449 (+66.3%), from €189,160 to €314,609
- Debts after one year -€14,083
down €14,083 (-9.7%), from €144,761 to €130,678
- Reserves +€10,000
up €10,000 (+143%), from €7,000 to €17,000
of which Distributable reserves: +€10,000
- Gross operating margin +€248,867
up €248,867 (+97.1%), from €256,387 to €505,255
- Taxes +€61,638
up €61,638 (+106%), from €58,368 to €120,006
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 | €422,692 | €541,252 | +€118,561 | +28.0% |
| Fixed assets | 21/28 | €262,506 | €258,451 | -€4,055 | -1.5% |
| Tangible fixed assets | 22/27 | €262,506 | €258,451 | -€4,055 | -1.5% |
| Land and buildings | 22 | €257,070 | €257,070 | = | 0.0% |
| Furniture and vehicles | 24 | €4,623 | €1,081 | -€3,543 | -76.6% |
| Other tangible fixed assets | 26 | €813 | €300 | -€513 | -63.1% |
| Current assets | 29/58 | €160,186 | €282,802 | +€122,616 | +76.5% |
| Amounts receivable within one year | 40/41 | €2,819 | €31,571 | +€28,752 | +1,020% |
| Trade receivables | 40 | €838 | €31,571 | +€30,733 | +3,666% |
| Other amounts receivable | 41 | €1,981 | - | -€1,981 | |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €6,207 | €249,836 | +€243,628 | +3,925% |
| Deferred charges and accrued income | 490/1 | €1,159 | €1,395 | +€236 | +20.3% |
| Total equity and liabilities | 10/49 | €422,692 | €541,252 | +€118,561 | +28.0% |
| Equity | 10/15 | €25,641 | €36,337 | +€10,695 | +41.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,000 | €17,000 | +€10,000 | +143% |
| Tax-exempt reserves | 132 | €598 | €598 | = | 0.0% |
| Distributable reserves | 133 | €6,402 | €16,402 | +€10,000 | +156% |
| Profit (loss) carried forward | 14 | €41 | €737 | +€695 | +1,676% |
| Amounts payable | 17/49 | €397,050 | €504,916 | +€107,865 | +27.2% |
| Amounts payable after more than one year | 17 | €144,761 | €130,678 | -€14,083 | -9.7% |
| Financial debts | 170/4 | €144,761 | €130,678 | -€14,083 | -9.7% |
| Amounts payable within one year | 42/48 | €250,485 | €372,738 | +€122,253 | +48.8% |
| Current portion of amounts payable after more than one year | 42 | €13,916 | €14,083 | +€167 | +1.2% |
| Trade debts | 44 | €433 | €1,417 | +€984 | +227% |
| Suppliers | 440/4 | €433 | €1,417 | +€984 | +227% |
| Taxes, remuneration and social security | 45 | €46,977 | €42,629 | -€4,347 | -9.3% |
| Taxes | 450/3 | €46,977 | €42,629 | -€4,347 | -9.3% |
| Other amounts payable | 47/48 | €189,160 | €314,609 | +€125,449 | +66.3% |
| Accrued charges and deferred income | 492/3 | €1,804 | €1,500 | -€304 | -16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,680 | €3,760 | -€920 | -19.7% |
| Other operating charges | 640/8 | €1,853 | €1,917 | +€64 | +3.4% |
| Non-recurring operating charges | 66A | €514 | €449 | -€64 | -12.5% |
| Gross operating margin | 9900 | €256,387 | €505,255 | +€248,867 | +97.1% |
| Operating profit (loss) | 9901 | €249,341 | €499,129 | +€249,788 | +100% |
| Financial income | 75/76B | €1,161 | €499 | -€662 | -57.0% |
| Recurring financial income | 75 | €1,161 | €499 | -€662 | -57.0% |
| Financial charges | 65/66B | €3,348 | €2,928 | -€420 | -12.6% |
| Recurring financial charges | 65 | €3,348 | €2,928 | -€420 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €247,155 | €496,701 | +€249,546 | +101% |
| Income taxes | 67/77 | €58,368 | €120,006 | +€61,638 | +106% |
| Profit (loss) for the period | 9904 | €188,787 | €376,695 | +€187,908 | +99.5% |
| Profit (loss) for the period to be appropriated | 9905 | €188,787 | €376,695 | +€187,908 | +99.5% |
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.