A.T.R.: 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.
A.T.R.
Largest movements
- Cash +€103,753
up €103,753 (+57.3%), from €180,964 to €284,717
mainly Receivables within one year (+€102,874) and Depreciation (+€36,387)
- Receivables within one year -€102,874
down €102,874 (-40.5%), from €254,146 to €151,271
of which Trade receivables: -€116,762
- Stocks and contracts +€24,253
up €24,253 (+23.7%), from €102,404 to €126,658
- Tangible fixed assets +€17,181
up €17,181 (+9.4%), from €181,817 to €198,998
- Trade debts +€28,584
up €28,584 (+57.5%), from €49,720 to €78,304
- Debts after one year +€24,986
up €24,986 (+63.1%), from €39,624 to €64,609
- Profit (loss) carried forward -€16,047
down €16,047 (-4.2%), from €377,709 to €361,661
- Current portion of long-term debt +€15,288
up €15,288 (+129%), from €11,879 to €27,167
- Tax, wage and social debts -€10,729
down €10,729 (-19.0%), from €56,399 to €45,669
of which Taxes: -€9,893
- Gross operating margin -€31,419
down €31,419 (-12.4%), from €253,425 to €222,006
- Write-downs +€21,195
up €21,195 (+1,734%), from €1,222 to €22,417
- Taxes -€15,897
down €15,897 (-98.3%), from €16,168 to €270
- Staff costs +€9,106
up €9,106 (+5.8%), from €156,313 to €165,419
- Depreciation +€3,857
up €3,857 (+11.9%), from €32,530 to €36,387
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 | €722,282 | €764,134 | +€41,852 | +5.8% |
| Fixed assets | 21/28 | €181,977 | €199,158 | +€17,181 | +9.4% |
| Tangible fixed assets | 22/27 | €181,817 | €198,998 | +€17,181 | +9.4% |
| Land and buildings | 22 | €114,690 | €120,022 | +€5,332 | +4.6% |
| Plant, machinery and equipment | 23 | €11,206 | €14,989 | +€3,782 | +33.8% |
| Furniture and vehicles | 24 | €55,921 | €63,988 | +€8,067 | +14.4% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €540,305 | €564,976 | +€24,671 | +4.6% |
| Stocks and contracts in progress | 3 | €102,404 | €126,658 | +€24,253 | +23.7% |
| Stocks | 30/36 | €102,404 | €126,658 | +€24,253 | +23.7% |
| Amounts receivable within one year | 40/41 | €254,146 | €151,271 | -€102,874 | -40.5% |
| Trade receivables | 40 | €249,709 | €132,948 | -€116,762 | -46.8% |
| Other amounts receivable | 41 | €4,437 | €18,324 | +€13,887 | +313% |
| Cash at bank and in hand | 54/58 | €180,964 | €284,717 | +€103,753 | +57.3% |
| Deferred charges and accrued income | 490/1 | €2,791 | €2,330 | -€461 | -16.5% |
| Total equity and liabilities | 10/49 | €722,282 | €764,134 | +€41,852 | +5.8% |
| Equity | 10/15 | €559,459 | €543,411 | -€16,047 | -2.9% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €101,750 | €101,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,750 | €28,750 | = | 0.0% |
| Distributable reserves | 133 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €377,709 | €361,661 | -€16,047 | -4.2% |
| Amounts payable | 17/49 | €162,824 | €220,723 | +€57,899 | +35.6% |
| Amounts payable after more than one year | 17 | €39,624 | €64,609 | +€24,986 | +63.1% |
| Financial debts | 170/4 | €39,624 | €64,609 | +€24,986 | +63.1% |
| Amounts payable within one year | 42/48 | €122,998 | €155,900 | +€32,902 | +26.8% |
| Current portion of amounts payable after more than one year | 42 | €11,879 | €27,167 | +€15,288 | +129% |
| Trade debts | 44 | €49,720 | €78,304 | +€28,584 | +57.5% |
| Suppliers | 440/4 | €49,720 | €78,304 | +€28,584 | +57.5% |
| Taxes, remuneration and social security | 45 | €56,399 | €45,669 | -€10,729 | -19.0% |
| Taxes | 450/3 | €27,301 | €17,407 | -€9,893 | -36.2% |
| Remuneration and social security | 454/9 | €29,098 | €28,262 | -€836 | -2.9% |
| Other amounts payable | 47/48 | €5,000 | €4,760 | -€240 | -4.8% |
| Accrued charges and deferred income | 492/3 | €202 | €213 | +€12 | +5.8% |
| Remuneration, social security and pensions | 62 | €156,313 | €165,419 | +€9,106 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,530 | €36,387 | +€3,857 | +11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,222 | €22,417 | +€21,195 | +1,734% |
| Other operating charges | 640/8 | €8,953 | €9,478 | +€526 | +5.9% |
| Gross operating margin | 9900 | €253,425 | €222,006 | -€31,419 | -12.4% |
| Operating profit (loss) | 9901 | €54,407 | -€11,695 | -€66,102 | |
| Financial income | 75/76B | €847 | €242 | -€605 | -71.4% |
| Recurring financial income | 75 | €847 | €242 | -€605 | -71.4% |
| Financial charges | 65/66B | €3,509 | €4,324 | +€815 | +23.2% |
| Recurring financial charges | 65 | €3,509 | €4,197 | +€688 | +19.6% |
| Non-recurring financial charges | 66B | - | €127 | +€127 | |
| Profit (loss) for the period before taxes | 9903 | €51,745 | -€15,777 | -€67,522 | |
| Income taxes | 67/77 | €16,168 | €270 | -€15,897 | -98.3% |
| Profit (loss) for the period | 9904 | €35,577 | -€16,047 | -€51,625 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,577 | -€16,047 | -€51,625 |
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 18 October 2026 via checked.be.