ANTARES: 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.
ANTARES
Largest movements
- Tangible fixed assets -€34,257
down €34,257 (-10.7%), from €320,638 to €286,381
of which Land and buildings: -€33,827
- Deferred charges and accrued income +€14,512
up €14,512 (+101%), from €14,331 to €28,843
- Cash -€7,791
down €7,791 (-26.8%), from €29,074 to €21,283
mainly Debts after one year (-€28,104) and Deferred charges and accrued income (-€14,512)
- Debts after one year -€28,104
down €28,104 (-34.0%), from €82,652 to €54,548
- Gross operating margin +€2,300
up €2,300 (+4.9%), from €47,396 to €49,696
- Depreciation +€913
up €913 (+2.7%), from €33,344 to €34,257
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 | €372,587 | €345,860 | -€26,726 | -7.2% |
| Fixed assets | 21/28 | €320,638 | €286,381 | -€34,257 | -10.7% |
| Tangible fixed assets | 22/27 | €320,638 | €286,381 | -€34,257 | -10.7% |
| Land and buildings | 22 | €317,232 | €283,405 | -€33,827 | -10.7% |
| Plant, machinery and equipment | 23 | €3,405 | €2,975 | -€430 | -12.6% |
| Current assets | 29/58 | €51,949 | €59,480 | +€7,531 | +14.5% |
| Amounts receivable within one year | 40/41 | €8,543 | €9,354 | +€811 | +9.5% |
| Trade receivables | 40 | €452 | €452 | = | 0.0% |
| Other amounts receivable | 41 | €8,092 | €8,902 | +€811 | +10.0% |
| Cash at bank and in hand | 54/58 | €29,074 | €21,283 | -€7,791 | -26.8% |
| Deferred charges and accrued income | 490/1 | €14,331 | €28,843 | +€14,512 | +101% |
| Total equity and liabilities | 10/49 | €372,587 | €345,860 | -€26,726 | -7.2% |
| Equity | 10/15 | €256,045 | €257,129 | +€1,084 | +0.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,845 | €188,929 | +€1,084 | +0.6% |
| Amounts payable | 17/49 | €116,542 | €88,731 | -€27,810 | -23.9% |
| Amounts payable after more than one year | 17 | €82,652 | €54,548 | -€28,104 | -34.0% |
| Financial debts | 170/4 | €82,652 | €54,548 | -€28,104 | -34.0% |
| Amounts payable within one year | 42/48 | €33,890 | €34,184 | +€294 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €27,737 | €28,104 | +€367 | +1.3% |
| Financial debts | 43 | €5,513 | €5,485 | -€28 | -0.5% |
| Credit institutions | 430/8 | €5,513 | €5,485 | -€28 | -0.5% |
| Trade debts | 44 | €639 | €594 | -€44 | -7.0% |
| Suppliers | 440/4 | €639 | €594 | -€44 | -7.0% |
| Other amounts payable | 47/48 | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,344 | €34,257 | +€913 | +2.7% |
| Other operating charges | 640/8 | €11,476 | €11,836 | +€360 | +3.1% |
| Gross operating margin | 9900 | €47,396 | €49,696 | +€2,300 | +4.9% |
| Operating profit (loss) | 9901 | €2,575 | €3,603 | +€1,027 | +39.9% |
| Financial charges | 65/66B | €2,460 | €2,104 | -€356 | -14.5% |
| Recurring financial charges | 65 | €2,460 | €2,104 | -€356 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €116 | €1,499 | +€1,383 | +1,195% |
| Transfer to deferred taxes | 680 | €224 | - | -€224 | |
| Income taxes | 67/77 | - | €415 | +€415 | |
| Profit (loss) for the period | 9904 | -€108 | €1,084 | +€1,192 | |
| Profit (loss) for the period to be appropriated | 9905 | -€108 | €1,084 | +€1,192 |
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 30 October 2026 via checked.be.