#ANT: what changed
#ANT
Largest movements
- Receivables within one year -€30,071
down €30,071 (-55.5%), from €54,181 to €24,110
of which Trade receivables: -€32,727
- Deferred charges and accrued income -€11,574
down €11,574 (-65.8%), from €17,578 to €6,004
- Cash +€5,459
up €5,459 (+12.5%), from €43,612 to €49,070
mainly Receivables within one year (+€30,071) and Deferred charges and accrued income (+€11,574)
- Tangible fixed assets +€3,190
up €3,190 (+36.4%), from €8,755 to €11,945
of which Plant, machinery and equipment: +€2,948
- Tax, wage and social debts -€14,286
down €14,286 (-63.9%), from €22,345 to €8,059
of which Taxes: -€9,207
- Trade debts -€10,759
down €10,759 (-73.4%), from €14,662 to €3,904
- Accrued charges and deferred income -€7,892
down €7,892 (-37.7%), from €20,952 to €13,061
- Debts after one year -€7,330
down €7,330 (-59.4%), from €12,330 to €5,000
- Profit (loss) carried forward +€6,701
up €6,701 (+20.6%), from €32,555 to €39,256
- Gross operating margin -€38,113
down €38,113 (-47.9%), from €79,608 to €41,495
- Taxes -€9,070
down €9,070 (-77.1%), from €11,766 to €2,697
- Staff costs -€8,002
down €8,002 (-23.5%), from €34,098 to €26,096
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €124,226 | €91,229 | -€32,997 | -26.6% |
| Fixed assets | 21/28 | €8,855 | €12,045 | +€3,190 | +36.0% |
| Tangible fixed assets | 22/27 | €8,755 | €11,945 | +€3,190 | +36.4% |
| Plant, machinery and equipment | 23 | €5,615 | €8,563 | +€2,948 | +52.5% |
| Furniture and vehicles | 24 | €3,117 | €3,382 | +€265 | +8.5% |
| Other tangible fixed assets | 26 | €23 | €0 | -€23 | -100% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €115,371 | €79,184 | -€36,187 | -31.4% |
| Amounts receivable within one year | 40/41 | €54,181 | €24,110 | -€30,071 | -55.5% |
| Trade receivables | 40 | €44,437 | €11,710 | -€32,727 | -73.6% |
| Other amounts receivable | 41 | €9,744 | €12,401 | +€2,656 | +27.3% |
| Cash at bank and in hand | 54/58 | €43,612 | €49,070 | +€5,459 | +12.5% |
| Deferred charges and accrued income | 490/1 | €17,578 | €6,004 | -€11,574 | -65.8% |
| Total equity and liabilities | 10/49 | €124,226 | €91,229 | -€32,997 | -26.6% |
| Equity | 10/15 | €51,191 | €57,892 | +€6,701 | +13.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36 | €36 | = | 0.0% |
| Distributable reserves | 133 | €36 | €36 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,555 | €39,256 | +€6,701 | +20.6% |
| Amounts payable | 17/49 | €73,034 | €33,337 | -€39,697 | -54.4% |
| Amounts payable after more than one year | 17 | €12,330 | €5,000 | -€7,330 | -59.4% |
| Financial debts | 170/4 | €12,330 | €5,000 | -€7,330 | -59.4% |
| Amounts payable within one year | 42/48 | €39,752 | €15,277 | -€24,476 | -61.6% |
| Trade debts | 44 | €14,662 | €3,904 | -€10,759 | -73.4% |
| Suppliers | 440/4 | €14,662 | €3,904 | -€10,759 | -73.4% |
| Taxes, remuneration and social security | 45 | €22,345 | €8,059 | -€14,286 | -63.9% |
| Taxes | 450/3 | €15,020 | €5,813 | -€9,207 | -61.3% |
| Remuneration and social security | 454/9 | €7,325 | €2,246 | -€5,079 | -69.3% |
| Other amounts payable | 47/48 | €2,745 | €3,314 | +€569 | +20.7% |
| Accrued charges and deferred income | 492/3 | €20,952 | €13,061 | -€7,892 | -37.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €34,098 | €26,096 | -€8,002 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,180 | €5,085 | -€95 | -1.8% |
| Other operating charges | 640/8 | €668 | €688 | +€20 | +2.9% |
| Non-recurring operating charges | 66A | - | €86 | +€86 | |
| Gross operating margin | 9900 | €79,608 | €41,495 | -€38,113 | -47.9% |
| Operating profit (loss) | 9901 | €39,662 | €9,540 | -€30,121 | -75.9% |
| Financial income | 75/76B | €111 | €208 | +€97 | +86.8% |
| Recurring financial income | 75 | €111 | €208 | +€97 | +86.8% |
| Financial charges | 65/66B | €394 | €351 | -€43 | -10.9% |
| Recurring financial charges | 65 | €394 | €351 | -€43 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €39,379 | €9,397 | -€29,982 | -76.1% |
| Income taxes | 67/77 | €11,766 | €2,697 | -€9,070 | -77.1% |
| Profit (loss) for the period | 9904 | €27,613 | €6,701 | -€20,912 | -75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,613 | €6,701 | -€20,912 | -75.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.