AHTCO: 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.
AHTCO
Largest movements
- Current investments +€6.5m
up €6.5m (+304%), from €2.1m to €8.6m
- Receivables within one year -€939,182
down €939,182 (-97.5%), from €963,501 to €24,318
of which Other amounts receivable: -€949,001
- Reserves +€5.5m
up €5.5m (+167%), from €3.3m to €8.7m
of which Distributable reserves: +€5.5m
- Tax, wage and social debts +€485,470
up €485,470 (+967%), from €50,226 to €535,696
- Other debts -€447,174
down €447,174 (-88.8%), from €503,751 to €56,577
- Financial income +€6.0m
up €6.0m (+5,124%), from €116,717 to €6.1m
- Taxes +€505,645
up €505,645 (+733%), from €69,001 to €574,646
- Gross operating margin -€173,752
down €173,752, from €134,196 to -€39,556
- Depreciation +€13,933
up €13,933 (+128%), from €10,850 to €24,783
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 | €3,853,288 | €9,343,300 | +€5.5m | +142% |
| Fixed assets | 21/28 | €521,359 | €528,610 | +€7,251 | +1.4% |
| Tangible fixed assets | 22/27 | €158,559 | €165,810 | +€7,251 | +4.6% |
| Land and buildings | 22 | €100,108 | €120,540 | +€20,432 | +20.4% |
| Plant, machinery and equipment | 23 | €2,662 | €1,385 | -€1,277 | -48.0% |
| Furniture and vehicles | 24 | €55,789 | €43,885 | -€11,904 | -21.3% |
| Financial fixed assets | 28 | €362,800 | €362,800 | = | 0.0% |
| Current assets | 29/58 | €3,331,929 | €8,814,691 | +€5.5m | +165% |
| Amounts receivable within one year | 40/41 | €963,501 | €24,318 | -€939,182 | -97.5% |
| Trade receivables | 40 | - | €9,818 | +€9,818 | |
| Other amounts receivable | 41 | €963,501 | €14,500 | -€949,001 | -98.5% |
| Current investments | 50/53 | €2,133,887 | €8,618,417 | +€6.5m | +304% |
| Cash at bank and in hand | 54/58 | €234,417 | €171,956 | -€62,461 | -26.6% |
| Deferred charges and accrued income | 490/1 | €124 | - | -€124 | |
| Total equity and liabilities | 10/49 | €3,853,288 | €9,343,300 | +€5.5m | +142% |
| Equity | 10/15 | €3,288,329 | €8,743,962 | +€5.5m | +166% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,263,650 | €8,718,650 | +€5.5m | +167% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €3,242,900 | €8,697,900 | +€5.5m | +168% |
| Profit (loss) carried forward | 14 | €4,679 | €5,312 | +€633 | +13.5% |
| Amounts payable | 17/49 | €564,959 | €599,338 | +€34,379 | +6.1% |
| Amounts payable within one year | 42/48 | €562,664 | €596,213 | +€33,549 | +6.0% |
| Trade debts | 44 | €8,687 | €3,940 | -€4,747 | -54.6% |
| Suppliers | 440/4 | €8,687 | €3,940 | -€4,747 | -54.6% |
| Taxes, remuneration and social security | 45 | €50,226 | €535,696 | +€485,470 | +967% |
| Taxes | 450/3 | €50,226 | €535,696 | +€485,470 | +967% |
| Other amounts payable | 47/48 | €503,751 | €56,577 | -€447,174 | -88.8% |
| Accrued charges and deferred income | 492/3 | €2,295 | €3,125 | +€830 | +36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,850 | €24,783 | +€13,933 | +128% |
| Other operating charges | 640/8 | €1,049 | €82 | -€966 | -92.2% |
| Gross operating margin | 9900 | €134,196 | -€39,556 | -€173,752 | |
| Operating profit (loss) | 9901 | €122,298 | -€64,421 | -€186,719 | |
| Financial income | 75/76B | €116,717 | €6,097,575 | +€6.0m | +5,124% |
| Recurring financial income | 75 | €116,717 | €6,097,575 | +€6.0m | +5,124% |
| Financial charges | 65/66B | €1,808 | €2,874 | +€1,066 | +59.0% |
| Recurring financial charges | 65 | €1,808 | €2,874 | +€1,066 | +59.0% |
| Profit (loss) for the period before taxes | 9903 | €237,207 | €6,030,280 | +€5.8m | +2,442% |
| Income taxes | 67/77 | €69,001 | €574,646 | +€505,645 | +733% |
| Profit (loss) for the period | 9904 | €168,206 | €5,455,633 | +€5.3m | +3,143% |
| Profit (loss) for the period to be appropriated | 9905 | €168,206 | €5,455,633 | +€5.3m | +3,143% |
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 1 November 2026 via checked.be.