Antheunis Management: 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.
Antheunis Management
Largest movements
- Current investments -€185,596
down €185,596 (-22.2%), from €835,596 to €650,000
- Tangible fixed assets -€47,751
down €47,751 (-4.0%), from €1.2m to €1.1m
of which Land and buildings: -€28,537
- Cash +€36,572
up €36,572 (+65.8%), from €55,606 to €92,178
mainly Current investments (+€185,596) and Depreciation (+€49,715)
- Debts after one year -€210,000
down €210,000 (-25.6%), from €820,000 to €610,000
- Reserves +€30,193
up €30,193 (+1.9%), from €1.6m to €1.6m
- Financial income +€84,239
up €84,239 (+87.3%), from €96,489 to €180,728
of which Financial income: +€180,053
- Gross operating margin -€41,867
down €41,867 (-208%), from -€20,169 to -€62,036
- Financial charges -€16,311
down €16,311 (-42.8%), from €38,141 to €21,830
- Taxes +€10,084
up €10,084, from -€4,369 to €5,715
- Other operating charges +€2,959
up €2,959 (+35.7%), from €8,281 to €11,239
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 | €2,920,221 | €2,720,705 | -€199,515 | -6.8% |
| Fixed assets | 21/28 | €1,196,359 | €1,148,608 | -€47,751 | -4.0% |
| Tangible fixed assets | 22/27 | €1,196,359 | €1,148,608 | -€47,751 | -4.0% |
| Land and buildings | 22 | €1,096,336 | €1,067,799 | -€28,537 | -2.6% |
| Plant, machinery and equipment | 23 | €5,682 | €3,290 | -€2,393 | -42.1% |
| Furniture and vehicles | 24 | €94,341 | €77,519 | -€16,822 | -17.8% |
| Current assets | 29/58 | €1,723,862 | €1,572,098 | -€151,764 | -8.8% |
| Stocks and contracts in progress | 3 | €823,257 | €823,257 | = | 0.0% |
| Stocks | 30/36 | €823,257 | €823,257 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,159 | €500 | -€3,659 | -88.0% |
| Trade receivables | 40 | €4,064 | - | -€4,064 | |
| Other amounts receivable | 41 | €94 | €500 | +€406 | +429% |
| Current investments | 50/53 | €835,596 | €650,000 | -€185,596 | -22.2% |
| Cash at bank and in hand | 54/58 | €55,606 | €92,178 | +€36,572 | +65.8% |
| Deferred charges and accrued income | 490/1 | €5,243 | €6,162 | +€920 | +17.5% |
| Total equity and liabilities | 10/49 | €2,920,221 | €2,720,705 | -€199,515 | -6.8% |
| Equity | 10/15 | €2,043,976 | €2,074,168 | +€30,193 | +1.5% |
| Contributions | 10/11 | €468,625 | €468,625 | = | 0.0% |
| Reserves | 13 | €1,575,351 | €1,605,543 | +€30,193 | +1.9% |
| Distributable reserves | 133 | €1,575,351 | €1,605,543 | +€30,193 | +1.9% |
| Amounts payable | 17/49 | €876,245 | €646,537 | -€229,708 | -26.2% |
| Amounts payable after more than one year | 17 | €820,000 | €610,000 | -€210,000 | -25.6% |
| Financial debts | 170/4 | €820,000 | €610,000 | -€210,000 | -25.6% |
| Amounts payable within one year | 42/48 | €14,818 | €12,656 | -€2,162 | -14.6% |
| Trade debts | 44 | €4,064 | €354 | -€3,711 | -91.3% |
| Suppliers | 440/4 | €4,064 | €354 | -€3,711 | -91.3% |
| Other amounts payable | 47/48 | €10,754 | €12,303 | +€1,549 | +14.4% |
| Accrued charges and deferred income | 492/3 | €41,427 | €23,881 | -€17,546 | -42.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,579 | €49,715 | -€864 | -1.7% |
| Other operating charges | 640/8 | €8,281 | €11,239 | +€2,959 | +35.7% |
| Gross operating margin | 9900 | -€20,169 | -€62,036 | -€41,867 | -208% |
| Operating profit (loss) | 9901 | -€79,029 | -€122,991 | -€43,962 | -55.6% |
| Financial income | 75/76B | €96,489 | €180,728 | +€84,239 | +87.3% |
| Recurring financial income | 75 | €675 | €180,728 | +€180,053 | +26,682% |
| Non-recurring financial income | 76B | €95,814 | - | -€95,814 | |
| Financial charges | 65/66B | €38,141 | €21,830 | -€16,311 | -42.8% |
| Recurring financial charges | 65 | €38,141 | €21,830 | -€16,311 | -42.8% |
| Profit (loss) for the period before taxes | 9903 | -€20,681 | €35,907 | +€56,589 | |
| Income taxes | 67/77 | -€4,369 | €5,715 | +€10,084 | |
| Profit (loss) for the period | 9904 | -€16,312 | €30,193 | +€46,505 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,312 | €30,193 | +€46,505 |
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 24 October 2026 via checked.be.