Artim: 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.
Artim
Largest movements
- Cash +€40,009
up €40,009 (+60.0%), from €66,719 to €106,728
mainly Depreciation (+€168,156) and Other debts (+€154,483)
- Other debts +€154,483
up €154,483 (+16.8%), from €917,602 to €1.1m
- Tax, wage and social debts -€57,756
down €57,756 (-100.0%), from €57,756 to €0
- Debts after one year -€55,656
down €55,656 (-7.2%), from €770,936 to €715,280
- Gross operating margin +€51,558
up €51,558 (+46.1%), from €111,950 to €163,508
- Financial income -€28,488
down €28,488 (-21.6%), from €132,029 to €103,541
- Depreciation +€23,228
up €23,228 (+16.0%), from €144,928 to €168,156
- Financial charges +€7,127
up €7,127 (+9.7%), from €73,747 to €80,874
- Other operating charges +€2,469
up €2,469 (+11.2%), from €22,132 to €24,601
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 | €3,578,847 | €3,604,613 | +€25,766 | +0.7% |
| Fixed assets | 21/28 | €3,378,916 | €3,361,911 | -€17,005 | -0.5% |
| Tangible fixed assets | 22/27 | €3,007,076 | €2,990,070 | -€17,005 | -0.6% |
| Land and buildings | 22 | €3,000,763 | €2,897,701 | -€103,062 | -3.4% |
| Furniture and vehicles | 24 | €1,762 | €1,153 | -€610 | -34.6% |
| Other tangible fixed assets | 26 | €4,550 | €4,550 | = | 0.0% |
| Assets under construction and advance payments | 27 | - | €86,667 | +€86,667 | |
| Financial fixed assets | 28 | €371,840 | €371,840 | = | 0.0% |
| Current assets | 29/58 | €199,931 | €242,702 | +€42,771 | +21.4% |
| Amounts receivable within one year | 40/41 | €133,212 | €133,224 | +€12 | 0.0% |
| Other amounts receivable | 41 | €133,212 | €133,224 | +€12 | 0.0% |
| Cash at bank and in hand | 54/58 | €66,719 | €106,728 | +€40,009 | +60.0% |
| Deferred charges and accrued income | 490/1 | - | €2,750 | +€2,750 | |
| Total equity and liabilities | 10/49 | €3,578,847 | €3,604,613 | +€25,766 | +0.7% |
| Equity | 10/15 | €1,715,462 | €1,708,880 | -€6,583 | -0.4% |
| Contributions | 10/11 | €1,373,126 | €1,373,126 | = | 0.0% |
| Capital | 10 | €1,373,126 | €1,373,126 | = | 0.0% |
| Issued capital | 100 | €1,373,126 | €1,373,126 | = | 0.0% |
| Reserves | 13 | €342,336 | €335,754 | -€6,583 | -1.9% |
| Non-distributable reserves | 130/1 | €137,313 | €137,313 | = | 0.0% |
| Legal reserve | 130 | €137,313 | €137,313 | = | 0.0% |
| Distributable reserves | 133 | €205,024 | €198,441 | -€6,583 | -3.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,863,385 | €1,895,733 | +€32,349 | +1.7% |
| Amounts payable after more than one year | 17 | €770,936 | €715,280 | -€55,656 | -7.2% |
| Financial debts | 170/4 | €770,936 | €715,280 | -€55,656 | -7.2% |
| Amounts payable within one year | 42/48 | €1,049,911 | €1,129,966 | +€80,054 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €64,422 | €55,656 | -€8,765 | -13.6% |
| Trade debts | 44 | €10,132 | €2,224 | -€7,907 | -78.0% |
| Suppliers | 440/4 | €10,132 | €2,224 | -€7,907 | -78.0% |
| Taxes, remuneration and social security | 45 | €57,756 | €0 | -€57,756 | -100.0% |
| Taxes | 450/3 | €57,756 | €0 | -€57,756 | -100.0% |
| Other amounts payable | 47/48 | €917,602 | €1,072,085 | +€154,483 | +16.8% |
| Accrued charges and deferred income | 492/3 | €42,537 | €50,488 | +€7,951 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,928 | €168,156 | +€23,228 | +16.0% |
| Other operating charges | 640/8 | €22,132 | €24,601 | +€2,469 | +11.2% |
| Gross operating margin | 9900 | €111,950 | €163,508 | +€51,558 | +46.1% |
| Operating profit (loss) | 9901 | -€55,110 | -€29,249 | +€25,861 | +46.9% |
| Financial income | 75/76B | €132,029 | €103,541 | -€28,488 | -21.6% |
| Recurring financial income | 75 | €132,029 | €103,541 | -€28,488 | -21.6% |
| Financial charges | 65/66B | €73,747 | €80,874 | +€7,127 | +9.7% |
| Recurring financial charges | 65 | €73,747 | €80,874 | +€7,127 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €3,171 | -€6,583 | -€9,754 | |
| Income taxes | 67/77 | €42 | €0 | -€42 | -100.0% |
| Profit (loss) for the period | 9904 | €3,129 | -€6,583 | -€9,712 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,129 | -€6,583 | -€9,712 |
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 5 October 2026 via checked.be.