ARTEMIS & Co: 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 & Co
Largest movements
- Cash -€145,225
down €145,225 (-92.2%), from €157,518 to €12,292
mainly Investment in fixed assets (net) (-€112,685) and Net result for the year (-€47,462)
- Tangible fixed assets +€74,942
up €74,942 (+17.7%), from €424,445 to €499,387
of which Furniture and vehicles: +€43,372
- Receivables within one year +€27,913
up €27,913 (+161.3%), from €17,309 to €45,222
- Profit (loss) carried forward -€30,403
down €30,403 (-102.5%), from -€29,652 to -€60,055
- Provisions -€17,058
down €17,058 (-17.2%), from €99,115 to €82,057
- Trade debts +€10,320
up €10,320 (+167.8%), from €6,149 to €16,469
- Debts after one year -€7,611
down €7,611 (-9.1%), from €83,883 to €76,272
- Current portion of long-term debt +€6,250
up €6,250 (+23.7%), from €26,362 to €32,611
- Gross operating margin -€18,923
down €18,923, from €14,532 to -€4,390
- Depreciation +€8,455
up €8,455 (+27.5%), from €30,788 to €39,243
- Financial charges -€1,713
down €1,713 (-21.2%), from €8,064 to €6,351
- Financial income +€385
new in 2025: €385
- Other operating charges +€186
up €186 (+5.9%), from €3,159 to €3,345
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 | €601,965 | €559,067 | -€42,898 | -7.1% |
| Fixed assets | 21/28 | €426,685 | €500,127 | +€73,442 | +17.2% |
| Tangible fixed assets | 22/27 | €424,445 | €499,387 | +€74,942 | +17.7% |
| Land and buildings | 22 | €392,178 | €426,604 | +€34,426 | +8.8% |
| Plant, machinery and equipment | 23 | €14,352 | €12,144 | -€2,207 | -15.4% |
| Furniture and vehicles | 24 | €15,256 | €58,628 | +€43,372 | +284.3% |
| Other tangible fixed assets | 26 | €2,659 | €2,011 | -€648 | -24.4% |
| Financial fixed assets | 28 | €2,240 | €740 | -€1,500 | -67.0% |
| Current assets | 29/58 | €175,280 | €58,939 | -€116,340 | -66.4% |
| Amounts receivable within one year | 40/41 | €17,309 | €45,222 | +€27,913 | +161.3% |
| Other amounts receivable | 41 | €17,309 | €45,222 | +€27,913 | +161.3% |
| Current investments | 50/53 | €23 | - | -€23 | |
| Cash at bank and in hand | 54/58 | €157,518 | €12,292 | -€145,225 | -92.2% |
| Deferred charges and accrued income | 490/1 | €429 | €1,425 | +€996 | +232.0% |
| Total equity and liabilities | 10/49 | €601,965 | €559,067 | -€42,898 | -7.1% |
| Equity | 10/15 | €382,523 | €346,434 | -€36,089 | -9.4% |
| Contributions | 10/11 | €20,972 | €20,972 | = | 0.0% |
| Reserves | 13 | €391,203 | €385,517 | -€5,686 | -1.5% |
| Tax-exempt reserves | 132 | €325,757 | €320,070 | -€5,686 | -1.7% |
| Distributable reserves | 133 | €65,446 | €65,446 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,652 | -€60,055 | -€30,403 | -102.5% |
| Provisions and deferred taxes | 16 | €99,115 | €82,057 | -€17,058 | -17.2% |
| Deferred taxes | 168 | €99,115 | €82,057 | -€17,058 | -17.2% |
| Amounts payable | 17/49 | €120,326 | €130,576 | +€10,250 | +8.5% |
| Amounts payable after more than one year | 17 | €83,883 | €76,272 | -€7,611 | -9.1% |
| Financial debts | 170/4 | €83,883 | €76,272 | -€7,611 | -9.1% |
| Amounts payable within one year | 42/48 | €36,443 | €54,304 | +€17,861 | +49.0% |
| Current portion of amounts payable after more than one year | 42 | €26,362 | €32,611 | +€6,250 | +23.7% |
| Trade debts | 44 | €6,149 | €16,469 | +€10,320 | +167.8% |
| Suppliers | 440/4 | €6,149 | €16,469 | +€10,320 | +167.8% |
| Taxes, remuneration and social security | 45 | €3,933 | €224 | -€3,709 | -94.3% |
| Taxes | 450/3 | €3,933 | €224 | -€3,709 | -94.3% |
| Other amounts payable | 47/48 | - | €5,000 | +€5,000 | |
| Non-recurring operating income | 76A | €381 | - | -€381 | |
| Remuneration, social security and pensions | 62 | €167 | - | -€167 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,788 | €39,243 | +€8,455 | +27.5% |
| Other operating charges | 640/8 | €3,159 | €3,345 | +€186 | +5.9% |
| Non-recurring operating charges | 66A | €1,578 | - | -€1,578 | |
| Gross operating margin | 9900 | €14,532 | -€4,390 | -€18,923 | |
| Operating profit (loss) | 9901 | -€21,160 | -€46,978 | -€25,818 | -122.0% |
| Financial income | 75/76B | - | €385 | +€385 | |
| Recurring financial income | 75 | - | €385 | +€385 | |
| Financial charges | 65/66B | €8,064 | €6,351 | -€1,713 | -21.2% |
| Recurring financial charges | 65 | €8,064 | €6,351 | -€1,713 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | -€29,223 | -€52,944 | -€23,721 | -81.2% |
| Transfer from deferred taxes | 780 | €3,551 | €5,686 | +€2,135 | +60.1% |
| Income taxes | 67/77 | €201 | €204 | +€3 | +1.6% |
| Profit (loss) for the period | 9904 | -€25,873 | -€47,462 | -€21,589 | -83.4% |
| Transfer from tax-exempt reserves | 789 | €10,654 | €17,058 | +€6,404 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,219 | -€30,403 | -€15,184 | -99.8% |
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 9 October 2026 via checked.be.