ARTEMO: 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.
ARTEMO
Largest movements
- Tangible fixed assets -€20,531
down €20,531 (-17.6%), from €116,873 to €96,342
- Intangible fixed assets +€10,091
up €10,091 (+547%), from €1,844 to €11,935
- Cash +€5,038
up €5,038 (+99.8%), from €5,049 to €10,086
mainly Depreciation (+€23,915) and Current portion of long-term debt (+€7,513)
- Receivables within one year -€5,031
down €5,031 (-49.1%), from €10,251 to €5,220
of which Trade receivables: -€2,732
- Deferred charges and accrued income -€3,355
down €3,355 (-51.8%), from €6,473 to €3,118
- Debts after one year -€16,993
down €16,993 (-21.8%), from €77,951 to €60,958
- Short-term financial debts -€7,571
down €7,571 (-96.7%), from €7,830 to €259
of which Credit institutions: -€6,895
- Current portion of long-term debt +€7,513
up €7,513 (+79.3%), from €9,480 to €16,993
- Depreciation +€11,570
up €11,570 (+93.7%), from €12,345 to €23,915
- Gross operating margin +€6,573
up €6,573 (+28.0%), from €23,451 to €30,025
- Financial charges +€1,748
up €1,748 (+84.5%), from €2,068 to €3,816
- Taxes -€1,129
down €1,129 (-60.5%), from €1,865 to €736
- Other operating charges -€490
down €490 (-27.9%), from €1,760 to €1,270
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 | €140,985 | €127,197 | -€13,788 | -9.8% |
| Fixed assets | 21/28 | €119,213 | €108,773 | -€10,439 | -8.8% |
| Intangible fixed assets | 21 | €1,844 | €11,935 | +€10,091 | +547% |
| Tangible fixed assets | 22/27 | €116,873 | €96,342 | -€20,531 | -17.6% |
| Land and buildings | 22 | €42,628 | €38,825 | -€3,802 | -8.9% |
| Plant, machinery and equipment | 23 | €1,162 | €330 | -€832 | -71.6% |
| Furniture and vehicles | 24 | €21,626 | €15,511 | -€6,115 | -28.3% |
| Leasing and similar rights | 25 | €45,259 | €35,994 | -€9,265 | -20.5% |
| Other tangible fixed assets | 26 | €6,198 | €5,682 | -€517 | -8.3% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €21,773 | €18,424 | -€3,348 | -15.4% |
| Amounts receivable within one year | 40/41 | €10,251 | €5,220 | -€5,031 | -49.1% |
| Trade receivables | 40 | €7,952 | €5,220 | -€2,732 | -34.4% |
| Other amounts receivable | 41 | €2,299 | €0 | -€2,299 | -100% |
| Cash at bank and in hand | 54/58 | €5,049 | €10,086 | +€5,038 | +99.8% |
| Deferred charges and accrued income | 490/1 | €6,473 | €3,118 | -€3,355 | -51.8% |
| Total equity and liabilities | 10/49 | €140,985 | €127,197 | -€13,788 | -9.8% |
| Equity | 10/15 | €39,245 | €39,534 | +€289 | +0.7% |
| Contributions | 10/11 | €13,705 | €13,705 | = | 0.0% |
| Reserves | 13 | €25,539 | €25,829 | +€289 | +1.1% |
| Distributable reserves | 133 | €25,539 | €25,829 | +€289 | +1.1% |
| Amounts payable | 17/49 | €101,740 | €87,663 | -€14,077 | -13.8% |
| Amounts payable after more than one year | 17 | €77,951 | €60,958 | -€16,993 | -21.8% |
| Financial debts | 170/4 | €77,951 | €60,958 | -€16,993 | -21.8% |
| Amounts payable within one year | 42/48 | €23,790 | €26,706 | +€2,916 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €9,480 | €16,993 | +€7,513 | +79.3% |
| Financial debts | 43 | €7,830 | €259 | -€7,571 | -96.7% |
| Credit institutions | 430/8 | €7,153 | €259 | -€6,895 | -96.4% |
| Other loans | 439 | €677 | €0 | -€677 | -100% |
| Trade debts | 44 | €3,534 | €4,695 | +€1,161 | +32.9% |
| Suppliers | 440/4 | €3,534 | €4,695 | +€1,161 | +32.9% |
| Taxes, remuneration and social security | 45 | €2,320 | €3,406 | +€1,086 | +46.8% |
| Taxes | 450/3 | €0 | €736 | +€736 | |
| Remuneration and social security | 454/9 | €2,320 | €2,670 | +€350 | +15.1% |
| Other amounts payable | 47/48 | €626 | €1,353 | +€727 | +116% |
| Non-recurring operating income | 76A | €4,000 | €0 | -€4,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,345 | €23,915 | +€11,570 | +93.7% |
| Other operating charges | 640/8 | €1,760 | €1,270 | -€490 | -27.9% |
| Gross operating margin | 9900 | €23,451 | €30,025 | +€6,573 | +28.0% |
| Operating profit (loss) | 9901 | €9,347 | €4,840 | -€4,507 | -48.2% |
| Financial income | 75/76B | €18 | €1 | -€18 | -97.1% |
| Recurring financial income | 75 | €18 | €1 | -€18 | -97.1% |
| Financial charges | 65/66B | €2,068 | €3,816 | +€1,748 | +84.5% |
| Recurring financial charges | 65 | €2,068 | €3,816 | +€1,748 | +84.5% |
| Profit (loss) for the period before taxes | 9903 | €7,298 | €1,025 | -€6,272 | -85.9% |
| Income taxes | 67/77 | €1,865 | €736 | -€1,129 | -60.5% |
| Profit (loss) for the period | 9904 | €5,433 | €289 | -€5,144 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,433 | €289 | -€5,144 | -94.7% |
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 15 October 2026 via checked.be.