ARTIMMAS: 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.
ARTIMMAS
Largest movements
- Tangible fixed assets +€85,308
up €85,308 (+24.2%), from €352,015 to €437,323
of which Land and buildings: +€89,822
- Receivables within one year +€31,425
up €31,425 (+22.5%), from €139,677 to €171,103
of which Other amounts receivable: +€72,522
- Intangible fixed assets -€14,000
down €14,000 (-10.3%), from €136,471 to €122,471
- Cash -€11,751
down €11,751 (-12.3%), from €95,755 to €84,004
mainly Investment in fixed assets (net) (-€161,135) and Other debts (-€94,685)
- Tax, wage and social debts +€116,342
up €116,342 (+251.8%), from €46,205 to €162,547
of which Taxes: +€111,794
- Reserves +€98,000
up €98,000 (+56.0%), from €175,150 to €273,150
of which Distributable reserves: +€98,000
- Other debts -€94,685
down €94,685 (-48.4%), from €195,465 to €100,780
- Debts after one year -€26,090
down €26,090 (-18.8%), from €138,724 to €112,634
- Gross operating margin +€292,425
up €292,425 (+144.9%), from €201,834 to €494,259
- Staff costs +€109,169
up €109,169 (+153.3%), from €71,235 to €180,404
- Financial income -€76,139
down €76,139 (-99.9%), from €76,178 to €39
of which Financial income: -€75,993
- Taxes +€66,235
up €66,235 (+800.6%), from €8,273 to €74,508
- Depreciation +€26,817
up €26,817 (+42.6%), from €63,009 to €89,827
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 | €758,753 | €850,173 | +€91,420 | +12.0% |
| Fixed assets | 21/28 | €488,536 | €559,844 | +€71,308 | +14.6% |
| Intangible fixed assets | 21 | €136,471 | €122,471 | -€14,000 | -10.3% |
| Tangible fixed assets | 22/27 | €352,015 | €437,323 | +€85,308 | +24.2% |
| Land and buildings | 22 | €86,706 | €176,528 | +€89,822 | +103.6% |
| Plant, machinery and equipment | 23 | €1,753 | €1,315 | -€438 | -25.0% |
| Furniture and vehicles | 24 | €192,306 | €202,480 | +€10,174 | +5.3% |
| Other tangible fixed assets | 26 | €71,250 | €57,000 | -€14,250 | -20.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €270,217 | €290,328 | +€20,112 | +7.4% |
| Amounts receivable within one year | 40/41 | €139,677 | €171,103 | +€31,425 | +22.5% |
| Trade receivables | 40 | €63,677 | €22,580 | -€41,097 | -64.5% |
| Other amounts receivable | 41 | €76,000 | €148,522 | +€72,522 | +95.4% |
| Cash at bank and in hand | 54/58 | €95,755 | €84,004 | -€11,751 | -12.3% |
| Deferred charges and accrued income | 490/1 | €34,785 | €35,222 | +€437 | +1.3% |
| Total equity and liabilities | 10/49 | €758,753 | €850,173 | +€91,420 | +12.0% |
| Equity | 10/15 | €341,633 | €440,104 | +€98,472 | +28.8% |
| Contributions | 10/11 | €163,060 | €163,060 | = | 0.0% |
| Reserves | 13 | €175,150 | €273,150 | +€98,000 | +56.0% |
| Tax-exempt reserves | 132 | €1,321 | €1,321 | = | 0.0% |
| Distributable reserves | 133 | €173,829 | €271,829 | +€98,000 | +56.4% |
| Profit (loss) carried forward | 14 | €3,422 | €3,894 | +€472 | +13.8% |
| Amounts payable | 17/49 | €417,120 | €410,068 | -€7,052 | -1.7% |
| Amounts payable after more than one year | 17 | €138,724 | €112,634 | -€26,090 | -18.8% |
| Financial debts | 170/4 | €138,724 | €112,634 | -€26,090 | -18.8% |
| Amounts payable within one year | 42/48 | €277,171 | €297,434 | +€20,263 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €25,150 | €26,090 | +€939 | +3.7% |
| Trade debts | 44 | €2,052 | €1,866 | -€186 | -9.1% |
| Suppliers | 440/4 | €2,052 | €1,866 | -€186 | -9.1% |
| Advances received on contracts in progress | 46 | €8,299 | €6,151 | -€2,148 | -25.9% |
| Taxes, remuneration and social security | 45 | €46,205 | €162,547 | +€116,342 | +251.8% |
| Taxes | 450/3 | €19,724 | €131,518 | +€111,794 | +566.8% |
| Remuneration and social security | 454/9 | €26,481 | €31,029 | +€4,548 | +17.2% |
| Other amounts payable | 47/48 | €195,465 | €100,780 | -€94,685 | -48.4% |
| Accrued charges and deferred income | 492/3 | €1,225 | - | -€1,225 | |
| Remuneration, social security and pensions | 62 | €71,235 | €180,404 | +€109,169 | +153.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,009 | €89,827 | +€26,817 | +42.6% |
| Other operating charges | 640/8 | €845 | €2,173 | +€1,328 | +157.1% |
| Gross operating margin | 9900 | €201,834 | €494,259 | +€292,425 | +144.9% |
| Operating profit (loss) | 9901 | €66,745 | €221,856 | +€155,111 | +232.4% |
| Financial income | 75/76B | €76,178 | €39 | -€76,139 | -99.9% |
| Recurring financial income | 75 | €76,032 | €39 | -€75,993 | -99.9% |
| Non-recurring financial income | 76B | €146 | - | -€146 | |
| Financial charges | 65/66B | €1,978 | €5,916 | +€3,938 | +199.2% |
| Recurring financial charges | 65 | €1,978 | €5,916 | +€3,938 | +199.2% |
| Profit (loss) for the period before taxes | 9903 | €140,946 | €215,980 | +€75,034 | +53.2% |
| Income taxes | 67/77 | €8,273 | €74,508 | +€66,235 | +800.6% |
| Profit (loss) for the period | 9904 | €132,673 | €141,472 | +€8,799 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €132,673 | €141,472 | +€8,799 | +6.6% |
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 6 October 2026 via checked.be.