ARTIMMO: 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.
What changed
ARTIMMO
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€16,783
2024 · -€17,359+€34,143
Equity
€2.7m
2024 · €2.7m+€16,783
Cash
€23,392
2024 · €79,643-€56,250
Balance sheet total
€10.2m
2024 · €11.1m-€938,179
Largest movements
Assets
- Tangible fixed assets -€720,986
down €720,986 (-13.9%), from €5.2m to €4.4m
of which Land and buildings: -€717,452
- Receivables within one year -€147,605
down €147,605 (-2.5%), from €5.9m to €5.7m
of which Other amounts receivable: -€150,105
Equity and liabilities
- Debts after one year -€1.2m
down €1.2m (-20.9%), from €5.8m to €4.6m
- Other debts +€382,127
up €382,127 (+30.8%), from €1.2m to €1.6m
Income statement
- Gross operating margin -€168,502
down €168,502 (-25.8%), from €653,818 to €485,316
- Financial charges -€117,419
down €117,419 (-31.2%), from €375,858 to €258,439
- Taxes +€32,322
up €32,322 (+9266.8%), from €349 to €32,671
- Depreciation -€14,292
down €14,292 (-8.1%), from €176,018 to €161,727
- Other operating charges -€13,080
down €13,080 (-14.6%), from €89,361 to €76,281
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.
Result 2024
-€17,359
Gross operating margin
-€168,502
Staff costs
-€2,051
Depreciation
+€14,292
Other operating charges
+€13,080
Financial income
+€6,548
Financial charges
+€117,419
Taxes
-€32,322
Deferred taxes and other
+€85,680
Result 2025
€16,783
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.
From operations
+€655,831
Investment
+€559,260
Financing
-€1.3m
Cash 2024
€79,643
From operations (derived)
+€655,831
Net result for the year
+€16,783
Depreciation
+€161,727
Receivables within one year
+€147,605
Deferred charges and accrued income
+€13,338
Provisions
-€73,786
Trade debts
-€53,064
Tax, wage and social debts
+€33,013
Other debts
+€382,127
Accrued charges and deferred income
+€28,088
Investment (derived)
+€559,260
Investment in fixed assets (net)
+€559,260
Financing
-€1.3m
Debts after one year
-€1.2m
Current portion of long-term debt
-€56,293
Cash 2025
€23,392
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,149,584 | €10,211,405 | -€938,179 | -8.4% |
| Fixed assets | 21/28 | €5,170,187 | €4,449,201 | -€720,986 | -13.9% |
| Tangible fixed assets | 22/27 | €5,170,187 | €4,449,201 | -€720,986 | -13.9% |
| Land and buildings | 22 | €5,163,833 | €4,446,381 | -€717,452 | -13.9% |
| Furniture and vehicles | 24 | €6,354 | €2,819 | -€3,535 | -55.6% |
| Current assets | 29/58 | €5,979,397 | €5,762,204 | -€217,193 | -3.6% |
| Amounts receivable within one year | 40/41 | €5,885,881 | €5,738,276 | -€147,605 | -2.5% |
| Trade receivables | 40 | - | €2,500 | +€2,500 | |
| Other amounts receivable | 41 | €5,885,881 | €5,735,776 | -€150,105 | -2.6% |
| Cash at bank and in hand | 54/58 | €79,643 | €23,392 | -€56,250 | -70.6% |
| Deferred charges and accrued income | 490/1 | €13,874 | €536 | -€13,338 | -96.1% |
| Total equity and liabilities | 10/49 | €11,149,584 | €10,211,405 | -€938,179 | -8.4% |
| Equity | 10/15 | €2,651,308 | €2,668,091 | +€16,783 | +0.6% |
| Contributions | 10/11 | €166,584 | €166,584 | = | 0.0% |
| Capital | 10 | €166,584 | €166,584 | = | 0.0% |
| Issued capital | 100 | €166,584 | €166,584 | = | 0.0% |
| Reserves | 13 | €2,484,723 | €2,501,507 | +€16,783 | +0.7% |
| Non-distributable reserves | 130/1 | €16,658 | €16,658 | = | 0.0% |
| Legal reserve | 130 | €16,658 | €16,658 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,581,312 | €1,359,954 | -€221,358 | -14.0% |
| Distributable reserves | 133 | €886,753 | €1,124,895 | +€238,142 | +26.9% |
| Provisions and deferred taxes | 16 | €527,104 | €453,318 | -€73,786 | -14.0% |
| Deferred taxes | 168 | €527,104 | €453,318 | -€73,786 | -14.0% |
| Amounts payable | 17/49 | €7,971,172 | €7,089,996 | -€881,177 | -11.1% |
| Amounts payable after more than one year | 17 | €5,810,957 | €4,595,909 | -€1.2m | -20.9% |
| Financial debts | 170/4 | €5,810,957 | €4,595,909 | -€1.2m | -20.9% |
| Amounts payable within one year | 42/48 | €1,946,427 | €2,252,210 | +€305,784 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €627,466 | €571,173 | -€56,293 | -9.0% |
| Trade debts | 44 | €68,937 | €15,874 | -€53,064 | -77.0% |
| Suppliers | 440/4 | €68,937 | €15,874 | -€53,064 | -77.0% |
| Taxes, remuneration and social security | 45 | €10,214 | €43,227 | +€33,013 | +323.2% |
| Taxes | 450/3 | €349 | €33,020 | +€32,671 | +9366.8% |
| Remuneration and social security | 454/9 | €9,866 | €10,207 | +€342 | +3.5% |
| Other amounts payable | 47/48 | €1,239,809 | €1,621,936 | +€382,127 | +30.8% |
| Accrued charges and deferred income | 492/3 | €213,789 | €241,876 | +€28,088 | +13.1% |
| Non-recurring operating income | 76A | €209,666 | €156,481 | -€53,185 | -25.4% |
| Remuneration, social security and pensions | 62 | €55,386 | €57,437 | +€2,051 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,018 | €161,727 | -€14,292 | -8.1% |
| Other operating charges | 640/8 | €89,361 | €76,281 | -€13,080 | -14.6% |
| Gross operating margin | 9900 | €653,818 | €485,316 | -€168,502 | -25.8% |
| Operating profit (loss) | 9901 | €333,052 | €189,870 | -€143,182 | -43.0% |
| Financial income | 75/76B | €37,689 | €44,237 | +€6,548 | +17.4% |
| Recurring financial income | 75 | €37,689 | €44,237 | +€6,548 | +17.4% |
| Financial charges | 65/66B | €375,858 | €258,439 | -€117,419 | -31.2% |
| Recurring financial charges | 65 | €375,858 | €258,439 | -€117,419 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,116 | -€24,331 | -€19,215 | -375.6% |
| Transfer from deferred taxes | 780 | €22,252 | €107,784 | +€85,532 | +384.4% |
| Transfer to deferred taxes | 680 | €34,146 | €33,998 | -€148 | -0.4% |
| Income taxes | 67/77 | €349 | €32,671 | +€32,322 | +9266.8% |
| Profit (loss) for the period | 9904 | -€17,359 | €16,783 | +€34,143 | |
| Transfer from tax-exempt reserves | 789 | €66,756 | €323,353 | +€256,597 | +384.4% |
| Transfer to tax-exempt reserves | 689 | €102,439 | €101,994 | -€445 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,042 | €238,142 | +€291,184 |
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 8 October 2026 via checked.be.