ANTEMAK: 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.
ANTEMAK
Largest movements
- Receivables within one year -€139,835
down €139,835 (-73.7%), from €189,791 to €49,956
of which Trade receivables: -€162,806
- Current investments -€51,929
down €51,929 (-20.3%), from €255,647 to €203,717
- Cash +€42,193
up €42,193 (+63.3%), from €66,679 to €108,873
mainly Receivables within one year (+€139,835) and Current investments (+€51,929)
- Deferred charges and accrued income -€16,255
down €16,255 (-92.5%), from €17,573 to €1,318
- Tangible fixed assets -€10,232
down €10,232 (-4.5%), from €228,415 to €218,183
of which Land and buildings: -€9,357
- Profit (loss) carried forward -€90,099
down €90,099 (-19.7%), from €456,804 to €366,704
- Other debts -€73,473
down €73,473 (-92.4%), from €79,517 to €6,043
- Tax, wage and social debts -€26,171
down €26,171 (-76.6%), from €34,163 to €7,991
- Trade debts +€11,485
up €11,485 (+238.7%), from €4,811 to €16,296
- Gross operating margin -€193,663
down €193,663, from €126,185 to -€67,478
- Taxes -€27,139
down €27,139 (-99.5%), from €27,269 to €130
- Depreciation -€6,687
down €6,687 (-24.6%), from €27,190 to €20,503
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 | €758,222 | €582,164 | -€176,058 | -23.2% |
| Fixed assets | 21/28 | €228,532 | €218,299 | -€10,232 | -4.5% |
| Tangible fixed assets | 22/27 | €228,415 | €218,183 | -€10,232 | -4.5% |
| Land and buildings | 22 | €223,808 | €214,451 | -€9,357 | -4.2% |
| Furniture and vehicles | 24 | €4,607 | €3,732 | -€875 | -19.0% |
| Financial fixed assets | 28 | €116 | €116 | = | 0.0% |
| Current assets | 29/58 | €529,690 | €363,864 | -€165,826 | -31.3% |
| Amounts receivable within one year | 40/41 | €189,791 | €49,956 | -€139,835 | -73.7% |
| Trade receivables | 40 | €188,631 | €25,825 | -€162,806 | -86.3% |
| Other amounts receivable | 41 | €1,160 | €24,130 | +€22,970 | +1980.2% |
| Current investments | 50/53 | €255,647 | €203,717 | -€51,929 | -20.3% |
| Cash at bank and in hand | 54/58 | €66,679 | €108,873 | +€42,193 | +63.3% |
| Deferred charges and accrued income | 490/1 | €17,573 | €1,318 | -€16,255 | -92.5% |
| Total equity and liabilities | 10/49 | €758,222 | €582,164 | -€176,058 | -23.2% |
| Equity | 10/15 | €637,972 | €547,873 | -€90,099 | -14.1% |
| Contributions | 10/11 | €8,059 | €8,059 | = | 0.0% |
| Reserves | 13 | €173,109 | €173,109 | = | 0.0% |
| Distributable reserves | 133 | €173,109 | €173,109 | = | 0.0% |
| Profit (loss) carried forward | 14 | €456,804 | €366,704 | -€90,099 | -19.7% |
| Amounts payable | 17/49 | €120,250 | €34,291 | -€85,959 | -71.5% |
| Amounts payable within one year | 42/48 | €120,236 | €34,286 | -€85,950 | -71.5% |
| Financial debts | 43 | €1,745 | €3,955 | +€2,210 | +126.6% |
| Credit institutions | 430/8 | €1,745 | €3,955 | +€2,210 | +126.6% |
| Trade debts | 44 | €4,811 | €16,296 | +€11,485 | +238.7% |
| Suppliers | 440/4 | €4,811 | €16,296 | +€11,485 | +238.7% |
| Taxes, remuneration and social security | 45 | €34,163 | €7,991 | -€26,171 | -76.6% |
| Taxes | 450/3 | €34,163 | €7,991 | -€26,171 | -76.6% |
| Other amounts payable | 47/48 | €79,517 | €6,043 | -€73,473 | -92.4% |
| Accrued charges and deferred income | 492/3 | €14 | €5 | -€9 | -64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,190 | €20,503 | -€6,687 | -24.6% |
| Other operating charges | 640/8 | €4,398 | €4,607 | +€209 | +4.8% |
| Gross operating margin | 9900 | €126,185 | -€67,478 | -€193,663 | |
| Operating profit (loss) | 9901 | €94,597 | -€92,588 | -€187,185 | |
| Financial income | 75/76B | €3,276 | €2,860 | -€415 | -12.7% |
| Recurring financial income | 75 | €3,276 | €2,860 | -€415 | -12.7% |
| Financial charges | 65/66B | €239 | €242 | +€2 | +1.0% |
| Recurring financial charges | 65 | €239 | €242 | +€2 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €97,633 | -€89,969 | -€187,603 | |
| Income taxes | 67/77 | €27,269 | €130 | -€27,139 | -99.5% |
| Profit (loss) for the period | 9904 | €70,365 | -€90,099 | -€160,464 | |
| Profit (loss) for the period to be appropriated | 9905 | €70,365 | -€90,099 | -€160,464 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.