ANTARTIC: what changed
Two fiscal 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.
ANTARTIC
Largest movements
- Tangible fixed assets -€677,209
down €677,209 (-49.3%), from €1.4m to €696,596
of which Land and buildings: -€642,106
- Cash +€15,436
up €15,436 (+121.0%), from €12,760 to €28,197
mainly Investment in fixed assets (net) (+€598,003) and Depreciation (+€79,206)
- Debts after one year -€484,901
down €484,901 (-57.2%), from €848,443 to €363,542
- Other debts -€206,522
down €206,522 (-33.0%), from €625,078 to €418,556
- Profit (loss) carried forward +€34,605
up €34,605 (+62.7%), from -€55,212 to -€20,607
- Gross operating margin +€201,017
up €201,017 (+199.0%), from €101,012 to €302,029
- Depreciation -€19,271
down €19,271 (-19.6%), from €98,477 to €79,206
- Taxes +€17,371
up €17,371 (+4319.9%), from €402 to €17,773
- Write-downs -€11,311
new in 2025: -€11,311
- Financial charges -€3,641
down €3,641 (-28.0%), from €12,985 to €9,344
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 | €1,541,025 | €893,278 | -€647,747 | -42.0% |
| Fixed assets | 21/28 | €1,373,813 | €696,604 | -€677,209 | -49.3% |
| Tangible fixed assets | 22/27 | €1,373,805 | €696,596 | -€677,209 | -49.3% |
| Land and buildings | 22 | €1,276,460 | €634,354 | -€642,106 | -50.3% |
| Plant, machinery and equipment | 23 | €2,484 | €1,811 | -€673 | -27.1% |
| Furniture and vehicles | 24 | €70,162 | €38,176 | -€31,986 | -45.6% |
| Other tangible fixed assets | 26 | €24,698 | €22,255 | -€2,443 | -9.9% |
| Financial fixed assets | 28 | €8 | €8 | = | 0.0% |
| Current assets | 29/58 | €167,212 | €196,674 | +€29,463 | +17.6% |
| Amounts receivable within one year | 40/41 | €130,016 | €142,803 | +€12,788 | +9.8% |
| Trade receivables | 40 | €25,095 | €51,401 | +€26,305 | +104.8% |
| Other amounts receivable | 41 | €104,920 | €91,402 | -€13,518 | -12.9% |
| Current investments | 50/53 | €15,433 | €16,817 | +€1,384 | +9.0% |
| Cash at bank and in hand | 54/58 | €12,760 | €28,197 | +€15,436 | +121.0% |
| Deferred charges and accrued income | 490/1 | €9,003 | €8,858 | -€146 | -1.6% |
| Total equity and liabilities | 10/49 | €1,541,025 | €893,278 | -€647,747 | -42.0% |
| Equity | 10/15 | €14,947 | €49,551 | +€34,605 | +231.5% |
| Contributions | 10/11 | €62,100 | €62,100 | = | 0.0% |
| Reserves | 13 | €8,058 | €8,058 | = | 0.0% |
| Distributable reserves | 133 | €8,058 | €8,058 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,212 | -€20,607 | +€34,605 | +62.7% |
| Amounts payable | 17/49 | €1,526,078 | €843,727 | -€682,351 | -44.7% |
| Amounts payable after more than one year | 17 | €848,443 | €363,542 | -€484,901 | -57.2% |
| Financial debts | 170/4 | €848,443 | €363,542 | -€484,901 | -57.2% |
| Amounts payable within one year | 42/48 | €676,621 | €479,179 | -€197,442 | -29.2% |
| Current portion of amounts payable after more than one year | 42 | €31,622 | €32,065 | +€444 | +1.4% |
| Trade debts | 44 | €3,319 | €8,753 | +€5,435 | +163.8% |
| Suppliers | 440/4 | €3,319 | €8,753 | +€5,435 | +163.8% |
| Taxes, remuneration and social security | 45 | €16,603 | €19,804 | +€3,201 | +19.3% |
| Taxes | 450/3 | €16,603 | €19,804 | +€3,201 | +19.3% |
| Other amounts payable | 47/48 | €625,078 | €418,556 | -€206,522 | -33.0% |
| Accrued charges and deferred income | 492/3 | €1,014 | €1,006 | -€8 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,477 | €79,206 | -€19,271 | -19.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€11,311 | -€11,311 | |
| Other operating charges | 640/8 | €6,776 | €5,851 | -€925 | -13.6% |
| Non-recurring operating charges | 66A | - | €172,089 | +€172,089 | |
| Gross operating margin | 9900 | €101,012 | €302,029 | +€201,017 | +199.0% |
| Operating profit (loss) | 9901 | -€4,241 | €56,194 | +€60,435 | |
| Financial income | 75/76B | €4,371 | €5,528 | +€1,157 | +26.5% |
| Recurring financial income | 75 | €4,371 | €5,528 | +€1,157 | +26.5% |
| Financial charges | 65/66B | €12,985 | €9,344 | -€3,641 | -28.0% |
| Recurring financial charges | 65 | €12,985 | €9,344 | -€3,641 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,855 | €52,378 | +€65,233 | |
| Income taxes | 67/77 | €402 | €17,773 | +€17,371 | +4319.9% |
| Profit (loss) for the period | 9904 | -€13,257 | €34,605 | +€47,862 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,257 | €34,605 | +€47,862 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.