ARTUMO: 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.
ARTUMO
Largest movements
- Receivables within one year +€299,500
up €299,500 (+16.8%), from €1.8m to €2.1m
of which Trade receivables: +€316,112
- Cash +€209,163
up €209,163 (+79.1%), from €264,594 to €473,756
mainly Trade debts (+€324,202) and Net result for the year (+€310,443)
- Trade debts +€324,202
up €324,202 (+31.3%), from €1.0m to €1.4m
- Other debts +€160,263
up €160,263 (+114%), from €140,000 to €300,263
- Gross operating margin +€213,775
up €213,775 (+34.9%), from €612,148 to €825,923
- Write-downs +€28,231
up €28,231, from -€20,480 to €7,752
- Staff costs +€25,188
up €25,188 (+5.4%), from €462,171 to €487,358
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 | €2,076,194 | €2,582,079 | +€505,885 | +24.4% |
| Fixed assets | 21/28 | €19,549 | €15,389 | -€4,160 | -21.3% |
| Tangible fixed assets | 22/27 | €19,429 | €15,269 | -€4,160 | -21.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €19,429 | €15,269 | -€4,160 | -21.4% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €2,056,644 | €2,566,690 | +€510,046 | +24.8% |
| Amounts receivable within one year | 40/41 | €1,778,021 | €2,077,522 | +€299,500 | +16.8% |
| Trade receivables | 40 | €1,758,415 | €2,074,528 | +€316,112 | +18.0% |
| Other amounts receivable | 41 | €19,606 | €2,994 | -€16,612 | -84.7% |
| Cash at bank and in hand | 54/58 | €264,594 | €473,756 | +€209,163 | +79.1% |
| Deferred charges and accrued income | 490/1 | €14,030 | €15,412 | +€1,383 | +9.9% |
| Total equity and liabilities | 10/49 | €2,076,194 | €2,582,079 | +€505,885 | +24.4% |
| Equity | 10/15 | €840,147 | €850,590 | +€10,443 | +1.2% |
| Contributions | 10/11 | €197,924 | €197,924 | = | 0.0% |
| Reserves | 13 | €23,774 | €34,217 | +€10,443 | +43.9% |
| Distributable reserves | 133 | €23,774 | €34,217 | +€10,443 | +43.9% |
| Profit (loss) carried forward | 14 | €618,449 | €618,449 | = | 0.0% |
| Amounts payable | 17/49 | €1,236,046 | €1,731,489 | +€495,443 | +40.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,236,046 | €1,731,489 | +€495,443 | +40.1% |
| Current portion of amounts payable after more than one year | 42 | €4,479 | €0 | -€4,479 | -100% |
| Trade debts | 44 | €1,036,751 | €1,360,953 | +€324,202 | +31.3% |
| Suppliers | 440/4 | €1,036,751 | €1,360,953 | +€324,202 | +31.3% |
| Taxes, remuneration and social security | 45 | €54,816 | €70,273 | +€15,456 | +28.2% |
| Taxes | 450/3 | €2,897 | €13,537 | +€10,641 | +367% |
| Remuneration and social security | 454/9 | €51,919 | €56,735 | +€4,816 | +9.3% |
| Other amounts payable | 47/48 | €140,000 | €300,263 | +€160,263 | +114% |
| Non-recurring operating income | 76A | €26 | €0 | -€26 | -100% |
| Remuneration, social security and pensions | 62 | €462,171 | €487,358 | +€25,188 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,700 | €12,076 | +€376 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€20,480 | €7,752 | +€28,231 | |
| Other operating charges | 640/8 | €4,242 | €1,416 | -€2,826 | -66.6% |
| Gross operating margin | 9900 | €612,148 | €825,923 | +€213,775 | +34.9% |
| Operating profit (loss) | 9901 | €154,515 | €317,321 | +€162,806 | +105% |
| Financial income | 75/76B | €4,968 | €3,162 | -€1,806 | -36.4% |
| Recurring financial income | 75 | €4,968 | €3,162 | -€1,806 | -36.4% |
| Financial charges | 65/66B | €2,073 | €3,045 | +€972 | +46.9% |
| Recurring financial charges | 65 | €2,073 | €3,045 | +€972 | +46.9% |
| Profit (loss) for the period before taxes | 9903 | €157,410 | €317,438 | +€160,028 | +102% |
| Income taxes | 67/77 | €7,360 | €6,995 | -€366 | -5.0% |
| Profit (loss) for the period | 9904 | €150,050 | €310,443 | +€160,393 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €150,050 | €310,443 | +€160,393 | +107% |
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 22 October 2026 via checked.be.