ARTEMIS RESEARCH: 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 RESEARCH
Largest movements
- Receivables within one year -€569,715
down €569,715 (-18.0%), from €3.2m to €2.6m
- Other debts -€448,491
down €448,491 (-22.9%), from €2.0m to €1.5m
- Tax, wage and social debts -€121,090
down €121,090 (-92.3%), from €131,197 to €10,108
- Accrued charges and deferred income -€37,191
down €37,191 (-100.0%), from €37,191 to €0
- Reserves +€35,994
up €35,994 (+3.3%), from €1.1m to €1.1m
- Financial income -€492,908
down €492,908 (-85.4%), from €577,439 to €84,531
- Taxes -€121,090
down €121,090 (-92.3%), from €131,197 to €10,108
- Depreciation +€2,998
up €2,998 (+30.5%), from €9,818 to €12,816
- Gross operating margin -€2,077
down €2,077 (-8.8%), from -€23,491 to -€25,567
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,216,731 | €2,645,953 | -€570,777 | -17.7% |
| Fixed assets | 21/28 | €50,271 | €49,209 | -€1,063 | -2.1% |
| Tangible fixed assets | 22/27 | €50,271 | €49,209 | -€1,063 | -2.1% |
| Furniture and vehicles | 24 | €50,271 | €41,775 | -€8,497 | -16.9% |
| Other tangible fixed assets | 26 | - | €7,434 | +€7,434 | |
| Current assets | 29/58 | €3,166,460 | €2,596,745 | -€569,715 | -18.0% |
| Amounts receivable within one year | 40/41 | €3,166,460 | €2,596,745 | -€569,715 | -18.0% |
| Other amounts receivable | 41 | €3,166,460 | €2,596,745 | -€569,715 | -18.0% |
| Total equity and liabilities | 10/49 | €3,216,731 | €2,645,953 | -€570,777 | -17.7% |
| Equity | 10/15 | €1,088,224 | €1,124,218 | +€35,994 | +3.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €1,086,224 | €1,122,218 | +€35,994 | +3.3% |
| Distributable reserves | 133 | €1,086,224 | €1,122,218 | +€35,994 | +3.3% |
| Amounts payable | 17/49 | €2,128,506 | €1,521,735 | -€606,771 | -28.5% |
| Amounts payable within one year | 42/48 | €2,091,315 | €1,521,735 | -€569,580 | -27.2% |
| Taxes, remuneration and social security | 45 | €131,197 | €10,108 | -€121,090 | -92.3% |
| Taxes | 450/3 | €131,197 | €10,108 | -€121,090 | -92.3% |
| Other amounts payable | 47/48 | €1,960,118 | €1,511,627 | -€448,491 | -22.9% |
| Accrued charges and deferred income | 492/3 | €37,191 | €0 | -€37,191 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,818 | €12,816 | +€2,998 | +30.5% |
| Other operating charges | 640/8 | €118 | €46 | -€72 | -61.0% |
| Gross operating margin | 9900 | -€23,491 | -€25,567 | -€2,077 | -8.8% |
| Operating profit (loss) | 9901 | -€33,427 | -€38,429 | -€5,003 | -15.0% |
| Financial income | 75/76B | €577,439 | €84,531 | -€492,908 | -85.4% |
| Recurring financial income | 75 | €577,439 | €84,531 | -€492,908 | -85.4% |
| Financial charges | 65/66B | €0 | - | = | |
| Recurring financial charges | 65 | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €544,013 | €46,102 | -€497,911 | -91.5% |
| Income taxes | 67/77 | €131,197 | €10,108 | -€121,090 | -92.3% |
| Profit (loss) for the period | 9904 | €412,815 | €35,994 | -€376,821 | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €412,815 | €35,994 | -€376,821 | -91.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.