ARTIMMO26: 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.
ARTIMMO26
Largest movements
- Financial fixed assets +€600,000
up €600,000 (+42.5%), from €1.4m to €2.0m
- Receivables within one year -€31,789
down €31,789 (-100.0%), from €31,789 to €0
of which Other amounts receivable: -€31,789
- Debts after one year +€329,058
up €329,058 (+35.3%), from €932,309 to €1.3m
of which Financial debts: +€329,058
- Other debts +€179,510
new in 2025: €179,510
- Current portion of long-term debt +€90,555
up €90,555 (+105.6%), from €85,745 to €176,300
- Trade debts -€49,928
down €49,928 (-92.0%), from €54,263 to €4,336
- Other operating charges -€69,911
down €69,911 (-90.0%), from €77,689 to €7,778
- Financial charges +€5,754
up €5,754 (+15.0%), from €38,482 to €44,236
of which Financial charges: +€5,754
- Gross operating margin -€1,932
down €1,932 (-2.8%), from €69,527 to €67,596
- Depreciation +€1,267
up €1,267 (+4.1%), from €30,565 to €31,831
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 | €1,702,227 | €2,243,337 | +€541,110 | +31.8% |
| Fixed assets | 21/28 | €1,654,420 | €2,240,354 | +€585,934 | +35.4% |
| Tangible fixed assets | 22/27 | €242,450 | €228,384 | -€14,066 | -5.8% |
| Land and buildings | 22 | €242,450 | €221,912 | -€20,539 | -8.5% |
| Other tangible fixed assets | 26 | - | €6,473 | +€6,473 | |
| Financial fixed assets | 28 | €1,411,970 | €2,011,970 | +€600,000 | +42.5% |
| Current assets | 29/58 | €47,807 | €2,983 | -€44,824 | -93.8% |
| Amounts receivable within one year | 40/41 | €31,789 | €0 | -€31,789 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €31,789 | €0 | -€31,789 | -100.0% |
| Cash at bank and in hand | 54/58 | €16,018 | €2,983 | -€13,035 | -81.4% |
| Total equity and liabilities | 10/49 | €1,702,227 | €2,243,337 | +€541,110 | +31.8% |
| Equity | 10/15 | €629,023 | €612,773 | -€16,249 | -2.6% |
| Contributions | 10/11 | €20,552 | €20,552 | = | 0.0% |
| Reserves | 13 | €687,303 | €687,303 | = | 0.0% |
| Distributable reserves | 133 | €687,303 | €687,303 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,832 | -€95,081 | -€16,249 | -20.6% |
| Amounts payable | 17/49 | €1,073,204 | €1,630,564 | +€557,359 | +51.9% |
| Amounts payable after more than one year | 17 | €932,309 | €1,261,366 | +€329,058 | +35.3% |
| Financial debts | 170/4 | €931,981 | €1,261,038 | +€329,058 | +35.3% |
| Other amounts payable | 178/9 | €328 | €328 | = | 0.0% |
| Amounts payable within one year | 42/48 | €140,008 | €360,145 | +€220,137 | +157.2% |
| Current portion of amounts payable after more than one year | 42 | €85,745 | €176,300 | +€90,555 | +105.6% |
| Trade debts | 44 | €54,263 | €4,336 | -€49,928 | -92.0% |
| Suppliers | 440/4 | €54,263 | €4,336 | -€49,928 | -92.0% |
| Other amounts payable | 47/48 | - | €179,510 | +€179,510 | |
| Accrued charges and deferred income | 492/3 | €888 | €9,052 | +€8,164 | +919.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,565 | €31,831 | +€1,267 | +4.1% |
| Other operating charges | 640/8 | €77,689 | €7,778 | -€69,911 | -90.0% |
| Gross operating margin | 9900 | €69,527 | €67,596 | -€1,932 | -2.8% |
| Operating profit (loss) | 9901 | -€38,726 | €27,987 | +€66,713 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €38,482 | €44,236 | +€5,754 | +15.0% |
| Recurring financial charges | 65 | €38,482 | €44,236 | +€5,754 | +15.0% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€77,208 | -€16,249 | +€60,959 | +79.0% |
| Profit (loss) for the period | 9904 | -€77,208 | -€16,249 | +€60,959 | +79.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,208 | -€16,249 | +€60,959 | +79.0% |
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.