ARTIMAX: 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.
ARTIMAX
Largest movements
- Stocks and contracts -€15,425
down €15,425 (-23.6%), from €65,403 to €49,978
- Cash +€14,389
up €14,389 (+38.4%), from €37,448 to €51,837
mainly Stocks and contracts (+€15,425) and Deferred charges and accrued income (+€1,631)
- Receivables within one year +€4,092
up €4,092 (+19.4%), from €21,117 to €25,209
of which Other amounts receivable: +€6,861
- Deferred charges and accrued income -€1,631
down €1,631 (-61.8%), from €2,637 to €1,006
- Profit (loss) carried forward +€1,460
up €1,460 (+1.5%), from €98,745 to €100,205
- Gross operating margin -€2,795
down €2,795 (-45.6%), from €6,126 to €3,331
- Taxes -€337
down €337 (-24.5%), from €1,375 to €1,038
- Depreciation -€335
down €335 (-48.2%), from €696 to €361
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 | €127,293 | €128,357 | +€1,064 | +0.8% |
| Fixed assets | 21/28 | €688 | €327 | -€361 | -52.4% |
| Tangible fixed assets | 22/27 | €688 | €327 | -€361 | -52.4% |
| Furniture and vehicles | 24 | €688 | €327 | -€361 | -52.4% |
| Current assets | 29/58 | €126,605 | €128,030 | +€1,425 | +1.1% |
| Stocks and contracts in progress | 3 | €65,403 | €49,978 | -€15,425 | -23.6% |
| Stocks | 30/36 | €65,403 | €49,978 | -€15,425 | -23.6% |
| Amounts receivable within one year | 40/41 | €21,117 | €25,209 | +€4,092 | +19.4% |
| Trade receivables | 40 | €12,721 | €9,952 | -€2,769 | -21.8% |
| Other amounts receivable | 41 | €8,396 | €15,256 | +€6,861 | +81.7% |
| Cash at bank and in hand | 54/58 | €37,448 | €51,837 | +€14,389 | +38.4% |
| Deferred charges and accrued income | 490/1 | €2,637 | €1,006 | -€1,631 | -61.8% |
| Total equity and liabilities | 10/49 | €127,293 | €128,357 | +€1,064 | +0.8% |
| Equity | 10/15 | €118,745 | €120,205 | +€1,460 | +1.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,745 | €100,205 | +€1,460 | +1.5% |
| Amounts payable | 17/49 | €8,548 | €8,152 | -€396 | -4.6% |
| Amounts payable within one year | 42/48 | €8,548 | €8,152 | -€396 | -4.6% |
| Trade debts | 44 | €7,814 | €7,418 | -€396 | -5.1% |
| Suppliers | 440/4 | €7,814 | €7,418 | -€396 | -5.1% |
| Other amounts payable | 47/48 | €734 | €734 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €696 | €361 | -€335 | -48.2% |
| Other operating charges | 640/8 | €209 | €226 | +€17 | +8.4% |
| Gross operating margin | 9900 | €6,126 | €3,331 | -€2,795 | -45.6% |
| Operating profit (loss) | 9901 | €5,221 | €2,744 | -€2,477 | -47.4% |
| Financial income | 75/76B | €11 | €38 | +€27 | +257% |
| Recurring financial income | 75 | €11 | €38 | +€27 | +257% |
| Financial charges | 65/66B | €223 | €284 | +€61 | +27.4% |
| Recurring financial charges | 65 | €223 | €284 | +€61 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | €5,009 | €2,498 | -€2,511 | -50.1% |
| Income taxes | 67/77 | €1,375 | €1,038 | -€337 | -24.5% |
| Profit (loss) for the period | 9904 | €3,634 | €1,460 | -€2,174 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,634 | €1,460 | -€2,174 | -59.8% |
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 20 October 2026 via checked.be.