NOV'ARTEMIS: 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.
NOV'ARTEMIS
Largest movements
- Receivables within one year +€119,992
up €119,992 (+678.6%), from €17,682 to €137,674
of which Trade receivables: +€69,992
- Cash -€19,031
down €19,031 (-89.4%), from €21,294 to €2,263
mainly Receivables within one year (-€119,992) and Smaller working-capital items (-€226)
- Debts after one year +€33,332
up €33,332 (+17.8%), from €187,063 to €220,394
- Profit (loss) carried forward +€24,805
up €24,805 (+126.5%), from €19,607 to €44,412
- Tax, wage and social debts +€22,024
up €22,024 (+137.0%), from €16,078 to €38,103
- Other debts +€19,706
up €19,706 (+593.6%), from €3,320 to €23,026
- Gross operating margin -€13,876
down €13,876 (-25.7%), from €53,999 to €40,123
- Financial charges -€5,101
down €5,101 (-49.8%), from €10,241 to €5,140
- Taxes -€2,517
down €2,517 (-21.4%), from €11,776 to €9,259
- Depreciation -€1,783
down €1,783 (-91.8%), from €1,943 to €160
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 | €284,364 | €385,410 | +€101,046 | +35.5% |
| Fixed assets | 21/28 | €245,388 | €245,228 | -€160 | -0.1% |
| Tangible fixed assets | 22/27 | €160 | - | -€160 | |
| Furniture and vehicles | 24 | €160 | - | -€160 | |
| Financial fixed assets | 28 | €245,228 | €245,228 | = | 0.0% |
| Current assets | 29/58 | €38,976 | €140,181 | +€101,205 | +259.7% |
| Amounts receivable within one year | 40/41 | €17,682 | €137,674 | +€119,992 | +678.6% |
| Trade receivables | 40 | €17,682 | €87,674 | +€69,992 | +395.8% |
| Other amounts receivable | 41 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €21,294 | €2,263 | -€19,031 | -89.4% |
| Deferred charges and accrued income | 490/1 | - | €245 | +€245 | |
| Total equity and liabilities | 10/49 | €284,364 | €385,410 | +€101,046 | +35.5% |
| Equity | 10/15 | €54,367 | €79,172 | +€24,805 | +45.6% |
| Contributions | 10/11 | €5,500 | €5,500 | = | 0.0% |
| Reserves | 13 | €29,260 | €29,260 | = | 0.0% |
| Distributable reserves | 133 | €29,260 | €29,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,607 | €44,412 | +€24,805 | +126.5% |
| Amounts payable | 17/49 | €229,997 | €306,238 | +€76,241 | +33.1% |
| Amounts payable after more than one year | 17 | €187,063 | €220,394 | +€33,332 | +17.8% |
| Financial debts | 170/4 | €187,063 | €220,394 | +€33,332 | +17.8% |
| Amounts payable within one year | 42/48 | €41,473 | €83,894 | +€42,421 | +102.3% |
| Current portion of amounts payable after more than one year | 42 | €15,997 | €16,669 | +€671 | +4.2% |
| Trade debts | 44 | €6,077 | €6,097 | +€19 | +0.3% |
| Suppliers | 440/4 | €6,077 | €6,097 | +€19 | +0.3% |
| Taxes, remuneration and social security | 45 | €16,078 | €38,103 | +€22,024 | +137.0% |
| Taxes | 450/3 | €16,078 | €38,103 | +€22,024 | +137.0% |
| Other amounts payable | 47/48 | €3,320 | €23,026 | +€19,706 | +593.6% |
| Accrued charges and deferred income | 492/3 | €1,461 | €1,950 | +€489 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,943 | €160 | -€1,783 | -91.8% |
| Other operating charges | 640/8 | €772 | €760 | -€12 | -1.5% |
| Gross operating margin | 9900 | €53,999 | €40,123 | -€13,876 | -25.7% |
| Operating profit (loss) | 9901 | €51,285 | €39,204 | -€12,081 | -23.6% |
| Financial charges | 65/66B | €10,241 | €5,140 | -€5,101 | -49.8% |
| Recurring financial charges | 65 | €10,241 | €5,140 | -€5,101 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €41,044 | €34,064 | -€6,980 | -17.0% |
| Income taxes | 67/77 | €11,776 | €9,259 | -€2,517 | -21.4% |
| Profit (loss) for the period | 9904 | €29,268 | €24,805 | -€4,463 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,268 | €24,805 | -€4,463 | -15.3% |
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 12 October 2026 via checked.be.