ARTHEMIS: 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.
ARTHEMIS
Largest movements
- Current investments +€639,452
up €639,452 (+21.4%), from €3.0m to €3.6m
- Cash -€599,678
down €599,678 (-94.2%), from €636,570 to €36,892
mainly Current investments (-€639,452) and Contributions, distributions and other (-€600,000)
- Financial fixed assets +€303,470
up €303,470 (+5.1%), from €6.0m to €6.3m
- Receivables within one year -€289,141
down €289,141 (-76.6%), from €377,645 to €88,504
of which Other amounts receivable: -€266,689
- Contributions -€500,000
down €500,000 (-6.7%), from €7.5m to €7.0m
- Profit (loss) carried forward +€387,749
up €387,749 (+540.5%), from €71,741 to €459,490
- Financial income +€470,817
up €470,817 (+253.8%), from €185,501 to €656,317
- Gross operating margin +€204,628
up €204,628 (+239.5%), from €85,434 to €290,062
- Taxes +€172,835
up €172,835 (+2531.6%), from €6,827 to €179,662
- Financial charges +€49,238
up €49,238 (+21.9%), from €225,316 to €274,554
- Depreciation +€3,447
new in 2024: €3,447
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,194,450 | €10,160,104 | -€34,346 | -0.3% |
| Fixed assets | 21/28 | €6,093,820 | €6,401,342 | +€307,522 | +5.0% |
| Tangible fixed assets | 22/27 | €92,821 | €96,874 | +€4,053 | +4.4% |
| Furniture and vehicles | 24 | €6,971 | €3,524 | -€3,447 | -49.5% |
| Other tangible fixed assets | 26 | €85,850 | €93,350 | +€7,500 | +8.7% |
| Financial fixed assets | 28 | €6,000,999 | €6,304,468 | +€303,470 | +5.1% |
| Current assets | 29/58 | €4,100,630 | €3,758,762 | -€341,868 | -8.3% |
| Amounts receivable within one year | 40/41 | €377,645 | €88,504 | -€289,141 | -76.6% |
| Trade receivables | 40 | €22,800 | €348 | -€22,452 | -98.5% |
| Other amounts receivable | 41 | €354,845 | €88,156 | -€266,689 | -75.2% |
| Current investments | 50/53 | €2,993,914 | €3,633,366 | +€639,452 | +21.4% |
| Cash at bank and in hand | 54/58 | €636,570 | €36,892 | -€599,678 | -94.2% |
| Deferred charges and accrued income | 490/1 | €92,500 | - | -€92,500 | |
| Total equity and liabilities | 10/49 | €10,194,450 | €10,160,104 | -€34,346 | -0.3% |
| Equity | 10/15 | €7,571,741 | €7,459,490 | -€112,251 | -1.5% |
| Contributions | 10/11 | €7,500,000 | €7,000,000 | -€500,000 | -6.7% |
| Profit (loss) carried forward | 14 | €71,741 | €459,490 | +€387,749 | +540.5% |
| Amounts payable | 17/49 | €2,622,708 | €2,700,614 | +€77,905 | +3.0% |
| Amounts payable after more than one year | 17 | €2,425,000 | €2,425,000 | = | 0.0% |
| Financial debts | 170/4 | €2,425,000 | €2,425,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €197,708 | €275,614 | +€77,905 | +39.4% |
| Trade debts | 44 | €82,444 | €7,848 | -€74,596 | -90.5% |
| Suppliers | 440/4 | €82,444 | €7,848 | -€74,596 | -90.5% |
| Taxes, remuneration and social security | 45 | €115,264 | €167,766 | +€52,502 | +45.5% |
| Taxes | 450/3 | €115,264 | €167,766 | +€52,502 | +45.5% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,447 | +€3,447 | |
| Other operating charges | 640/8 | €1,485 | €968 | -€518 | -34.9% |
| Gross operating margin | 9900 | €85,434 | €290,062 | +€204,628 | +239.5% |
| Operating profit (loss) | 9901 | €83,949 | €285,647 | +€201,698 | +240.3% |
| Financial income | 75/76B | €185,501 | €656,317 | +€470,817 | +253.8% |
| Recurring financial income | 75 | €185,501 | €656,317 | +€470,817 | +253.8% |
| Financial charges | 65/66B | €225,316 | €274,554 | +€49,238 | +21.9% |
| Recurring financial charges | 65 | €225,316 | €274,554 | +€49,238 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | €44,134 | €667,411 | +€623,277 | +1412.2% |
| Income taxes | 67/77 | €6,827 | €179,662 | +€172,835 | +2531.6% |
| Profit (loss) for the period | 9904 | €37,307 | €487,749 | +€450,442 | +1207.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,307 | €487,749 | +€450,442 | +1207.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.