ARTHEMI: 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.
ARTHEMI
Largest movements
- Cash -€14,923
down €14,923 (-27.7%), from €53,913 to €38,990
mainly Net result for the year (-€11,037) and Tax, wage and social debts (-€8,333)
- Receivables within one year +€2,054
up €2,054 (+59.2%), from €3,468 to €5,522
of which Trade receivables: +€2,333
- Tangible fixed assets -€1,455
down €1,455 (-24.2%), from €6,019 to €4,564
- Profit (loss) carried forward -€11,037
down €11,037 (-21.9%), from €50,433 to €39,396
- Tax, wage and social debts -€8,333
down €8,333 (-98.0%), from €8,499 to €166
- Trade debts +€3,433
up €3,433 (+131.5%), from €2,610 to €6,043
- Other debts +€1,519
new in 2025: €1,519
- Gross operating margin -€19,857
down €19,857, from €12,761 to -€7,096
- Taxes -€2,732
down €2,732 (-92.9%), from €2,941 to €208
- Depreciation -€454
down €454 (-13.8%), from €3,283 to €2,828
- Financial charges +€353
up €353 (+156.8%), from €225 to €579
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 | €63,586 | €49,123 | -€14,463 | -22.7% |
| Fixed assets | 21/28 | €6,019 | €4,564 | -€1,455 | -24.2% |
| Tangible fixed assets | 22/27 | €6,019 | €4,564 | -€1,455 | -24.2% |
| Furniture and vehicles | 24 | €6,019 | €4,564 | -€1,455 | -24.2% |
| Current assets | 29/58 | €57,567 | €44,559 | -€13,008 | -22.6% |
| Amounts receivable within one year | 40/41 | €3,468 | €5,522 | +€2,054 | +59.2% |
| Trade receivables | 40 | €1,416 | €3,749 | +€2,333 | +164.8% |
| Other amounts receivable | 41 | €2,052 | €1,773 | -€280 | -13.6% |
| Cash at bank and in hand | 54/58 | €53,913 | €38,990 | -€14,923 | -27.7% |
| Deferred charges and accrued income | 490/1 | €186 | €48 | -€139 | -74.4% |
| Total equity and liabilities | 10/49 | €63,586 | €49,123 | -€14,463 | -22.7% |
| Equity | 10/15 | €52,433 | €41,396 | -€11,037 | -21.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,433 | €39,396 | -€11,037 | -21.9% |
| Amounts payable | 17/49 | €11,153 | €7,727 | -€3,426 | -30.7% |
| Amounts payable within one year | 42/48 | €11,109 | €7,727 | -€3,381 | -30.4% |
| Trade debts | 44 | €2,610 | €6,043 | +€3,433 | +131.5% |
| Suppliers | 440/4 | €2,610 | €6,043 | +€3,433 | +131.5% |
| Taxes, remuneration and social security | 45 | €8,499 | €166 | -€8,333 | -98.0% |
| Taxes | 450/3 | €8,499 | €166 | -€8,333 | -98.0% |
| Other amounts payable | 47/48 | - | €1,519 | +€1,519 | |
| Accrued charges and deferred income | 492/3 | €45 | - | -€45 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,283 | €2,828 | -€454 | -13.8% |
| Other operating charges | 640/8 | €293 | €353 | +€59 | +20.3% |
| Gross operating margin | 9900 | €12,761 | -€7,096 | -€19,857 | |
| Operating profit (loss) | 9901 | €9,185 | -€10,277 | -€19,462 | |
| Financial income | 75/76B | €62 | €27 | -€35 | -56.5% |
| Recurring financial income | 75 | €62 | €27 | -€35 | -56.5% |
| Financial charges | 65/66B | €225 | €579 | +€353 | +156.8% |
| Recurring financial charges | 65 | €225 | €579 | +€353 | +156.8% |
| Profit (loss) for the period before taxes | 9903 | €9,022 | -€10,828 | -€19,851 | |
| Income taxes | 67/77 | €2,941 | €208 | -€2,732 | -92.9% |
| Profit (loss) for the period | 9904 | €6,081 | -€11,037 | -€17,118 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,081 | -€11,037 | -€17,118 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.