ARTHEMY: 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.
ARTHEMY
Largest movements
- Stocks and contracts -€3,688
down €3,688 (-5.2%), from €71,088 to €67,400
- Cash +€3,430
up €3,430 (+20.5%), from €16,699 to €20,129
mainly Other debts (+€32,186) and Depreciation (+€6,293)
- Tangible fixed assets -€1,594
down €1,594 (-4.5%), from €35,247 to €33,653
of which Land and buildings: -€2,193
- Other debts +€32,186
up €32,186 (+16.4%), from €196,603 to €228,789
- Profit (loss) carried forward -€26,967
down €26,967 (-14.4%), from -€187,221 to -€214,189
- Debts after one year -€10,595
down €10,595 (-56.1%), from €18,883 to €8,288
- Tax, wage and social debts +€4,416
up €4,416 (+10.3%), from €42,682 to €47,098
of which Remuneration and social security: +€3,619
- Trade debts -€3,703
down €3,703 (-23.2%), from €15,953 to €12,250
- Staff costs +€22,054
up €22,054 (+11.4%), from €193,249 to €215,303
- Gross operating margin -€13,333
down €13,333 (-6.3%), from €211,884 to €198,551
- Depreciation -€4,174
down €4,174 (-39.9%), from €10,467 to €6,293
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 | €126,545 | €124,078 | -€2,467 | -1.9% |
| Fixed assets | 21/28 | €35,409 | €33,653 | -€1,756 | -5.0% |
| Intangible fixed assets | 21 | €162 | €0 | -€162 | -100.0% |
| Tangible fixed assets | 22/27 | €35,247 | €33,653 | -€1,594 | -4.5% |
| Land and buildings | 22 | €20,568 | €18,375 | -€2,193 | -10.7% |
| Plant, machinery and equipment | 23 | €14,012 | €14,096 | +€83 | +0.6% |
| Furniture and vehicles | 24 | €667 | €1,182 | +€515 | +77.3% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €91,136 | €90,425 | -€711 | -0.8% |
| Stocks and contracts in progress | 3 | €71,088 | €67,400 | -€3,688 | -5.2% |
| Stocks | 30/36 | €71,088 | €67,400 | -€3,688 | -5.2% |
| Amounts receivable within one year | 40/41 | €2,429 | €2,255 | -€173 | -7.1% |
| Trade receivables | 40 | €2,429 | €2,255 | -€173 | -7.1% |
| Cash at bank and in hand | 54/58 | €16,699 | €20,129 | +€3,430 | +20.5% |
| Deferred charges and accrued income | 490/1 | €921 | €641 | -€280 | -30.4% |
| Total equity and liabilities | 10/49 | €126,545 | €124,078 | -€2,467 | -1.9% |
| Equity | 10/15 | -€173,221 | -€200,189 | -€26,967 | -15.6% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€187,221 | -€214,189 | -€26,967 | -14.4% |
| Amounts payable | 17/49 | €299,766 | €324,266 | +€24,500 | +8.2% |
| Amounts payable after more than one year | 17 | €18,883 | €8,288 | -€10,595 | -56.1% |
| Financial debts | 170/4 | €18,883 | €8,288 | -€10,595 | -56.1% |
| Amounts payable within one year | 42/48 | €280,884 | €315,979 | +€35,095 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €10,098 | €10,595 | +€497 | +4.9% |
| Trade debts | 44 | €15,953 | €12,250 | -€3,703 | -23.2% |
| Suppliers | 440/4 | €15,953 | €12,250 | -€3,703 | -23.2% |
| Advances received on contracts in progress | 46 | €15,548 | €17,246 | +€1,698 | +10.9% |
| Taxes, remuneration and social security | 45 | €42,682 | €47,098 | +€4,416 | +10.3% |
| Taxes | 450/3 | €11,304 | €12,101 | +€797 | +7.1% |
| Remuneration and social security | 454/9 | €31,378 | €34,997 | +€3,619 | +11.5% |
| Other amounts payable | 47/48 | €196,603 | €228,789 | +€32,186 | +16.4% |
| Remuneration, social security and pensions | 62 | €193,249 | €215,303 | +€22,054 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,467 | €6,293 | -€4,174 | -39.9% |
| Other operating charges | 640/8 | €770 | €1,388 | +€619 | +80.4% |
| Gross operating margin | 9900 | €211,884 | €198,551 | -€13,333 | -6.3% |
| Operating profit (loss) | 9901 | €7,399 | -€24,433 | -€31,832 | |
| Financial income | 75/76B | €0 | €46 | +€46 | +15226.7% |
| Recurring financial income | 75 | €0 | €46 | +€46 | +15226.7% |
| Financial charges | 65/66B | €3,080 | €2,580 | -€500 | -16.2% |
| Recurring financial charges | 65 | €3,080 | €2,580 | -€500 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €4,319 | -€26,967 | -€31,286 | |
| Profit (loss) for the period | 9904 | €4,319 | -€26,967 | -€31,286 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,319 | -€26,967 | -€31,286 |
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 30 September 2026 via checked.be.