ARTEMISE: 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.
ARTEMISE
Largest movements
- Cash -€39,420
down €39,420 (-26.9%), from €146,563 to €107,142
mainly Net result for the year (-€30,340) and Debts after one year (-€10,000)
- Tangible fixed assets -€15,872
down €15,872 (-36.2%), from €43,825 to €27,953
of which Furniture and vehicles: -€12,490
- Receivables within one year -€2,824
down €2,824 (-22.4%), from €12,589 to €9,766
of which Trade receivables: -€2,795
- Profit (loss) carried forward -€30,340
down €30,340 (-325%), from -€9,328 to -€39,668
- Debts after one year -€10,000
down €10,000 (-10.0%), from €100,000 to €90,000
- Trade debts -€8,295
down €8,295 (-77.8%), from €10,668 to €2,373
- Other debts -€4,566
down €4,566 (-100%), from €4,566 to €0
- Gross operating margin -€27,287
down €27,287, from €16,232 to -€11,056
- Financial income +€3,044
up €3,044 (+494%), from €616 to €3,660
- Financial charges -€2,783
down €2,783 (-32.4%), from €8,588 to €5,805
- Depreciation -€486
down €486 (-3.0%), from €16,359 to €15,872
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 | €203,167 | €147,004 | -€56,163 | -27.6% |
| Fixed assets | 21/28 | €43,825 | €27,953 | -€15,872 | -36.2% |
| Tangible fixed assets | 22/27 | €43,825 | €27,953 | -€15,872 | -36.2% |
| Plant, machinery and equipment | 23 | €10,798 | €7,416 | -€3,382 | -31.3% |
| Furniture and vehicles | 24 | €33,027 | €20,537 | -€12,490 | -37.8% |
| Current assets | 29/58 | €159,342 | €119,051 | -€40,291 | -25.3% |
| Amounts receivable within one year | 40/41 | €12,589 | €9,766 | -€2,824 | -22.4% |
| Trade receivables | 40 | €9,178 | €6,383 | -€2,795 | -30.5% |
| Other amounts receivable | 41 | €3,412 | €3,383 | -€29 | -0.8% |
| Cash at bank and in hand | 54/58 | €146,563 | €107,142 | -€39,420 | -26.9% |
| Deferred charges and accrued income | 490/1 | €190 | €2,144 | +€1,954 | +1,028% |
| Total equity and liabilities | 10/49 | €203,167 | €147,004 | -€56,163 | -27.6% |
| Equity | 10/15 | €66,357 | €36,017 | -€30,340 | -45.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €57,085 | €57,085 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,360 | €15,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,360 | €15,360 | = | 0.0% |
| Distributable reserves | 133 | €41,725 | €41,725 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,328 | -€39,668 | -€30,340 | -325% |
| Amounts payable | 17/49 | €136,810 | €110,987 | -€25,823 | -18.9% |
| Amounts payable after more than one year | 17 | €100,000 | €90,000 | -€10,000 | -10.0% |
| Financial debts | 170/4 | €100,000 | €90,000 | -€10,000 | -10.0% |
| Amounts payable within one year | 42/48 | €29,907 | €15,249 | -€14,658 | -49.0% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €10,668 | €2,373 | -€8,295 | -77.8% |
| Suppliers | 440/4 | €10,668 | €2,373 | -€8,295 | -77.8% |
| Taxes, remuneration and social security | 45 | €4,673 | €2,877 | -€1,797 | -38.4% |
| Taxes | 450/3 | €4,673 | €2,877 | -€1,797 | -38.4% |
| Other amounts payable | 47/48 | €4,566 | €0 | -€4,566 | -100% |
| Accrued charges and deferred income | 492/3 | €6,903 | €5,738 | -€1,165 | -16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,359 | €15,872 | -€486 | -3.0% |
| Other operating charges | 640/8 | €918 | €944 | +€26 | +2.8% |
| Gross operating margin | 9900 | €16,232 | -€11,056 | -€27,287 | |
| Operating profit (loss) | 9901 | -€1,045 | -€27,872 | -€26,827 | -2,567% |
| Financial income | 75/76B | €616 | €3,660 | +€3,044 | +494% |
| Recurring financial income | 75 | €616 | €3,660 | +€3,044 | +494% |
| Financial charges | 65/66B | €8,588 | €5,805 | -€2,783 | -32.4% |
| Recurring financial charges | 65 | €8,588 | €5,805 | -€2,783 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,017 | -€30,017 | -€21,000 | -233% |
| Income taxes | 67/77 | €310 | €323 | +€12 | +4.0% |
| Profit (loss) for the period | 9904 | -€9,328 | -€30,340 | -€21,012 | -225% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,328 | -€30,340 | -€21,012 | -225% |
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.