ANTHEUNIS NICO: 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 NICO
Largest movements
- Cash -€109,897
down €109,897 (-100.0%), from €109,919 to €22
mainly Other debts (-€94,950) and Stocks and contracts (-€91,117)
- Stocks and contracts +€91,117
up €91,117 (+17.5%), from €520,922 to €612,040
- Tangible fixed assets -€20,137
down €20,137 (-16.8%), from €120,012 to €99,874
of which Furniture and vehicles: -€15,248
- Other debts -€94,950
down €94,950 (-21.3%), from €446,399 to €351,449
- Short-term financial debts +€74,031
new in 2025: €74,031
- Profit (loss) carried forward -€33,538
down €33,538, from €0 to -€33,538
- Current portion of long-term debt +€21,992
up €21,992 (+17.4%), from €126,366 to €148,358
- Debts after one year -€21,835
down €21,835 (-100%), from €21,835 to €0
- Gross operating margin -€73,279
down €73,279, from €70,803 to -€2,476
- Financial charges -€14,949
down €14,949 (-77.3%), from €19,335 to €4,386
- Other operating charges +€735
up €735 (+20.6%), from €3,569 to €4,304
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 | €764,667 | €726,816 | -€37,851 | -5.0% |
| Fixed assets | 21/28 | €120,012 | €99,874 | -€20,137 | -16.8% |
| Tangible fixed assets | 22/27 | €120,012 | €99,874 | -€20,137 | -16.8% |
| Land and buildings | 22 | €86,077 | €81,954 | -€4,123 | -4.8% |
| Plant, machinery and equipment | 23 | €1,991 | €1,224 | -€766 | -38.5% |
| Furniture and vehicles | 24 | €31,944 | €16,696 | -€15,248 | -47.7% |
| Current assets | 29/58 | €644,656 | €626,942 | -€17,714 | -2.7% |
| Stocks and contracts in progress | 3 | €520,922 | €612,040 | +€91,117 | +17.5% |
| Stocks | 30/36 | €520,922 | €612,040 | +€91,117 | +17.5% |
| Amounts receivable within one year | 40/41 | €10,828 | €10,880 | +€52 | +0.5% |
| Other amounts receivable | 41 | €10,828 | €10,880 | +€52 | +0.5% |
| Cash at bank and in hand | 54/58 | €109,919 | €22 | -€109,897 | -100.0% |
| Deferred charges and accrued income | 490/1 | €2,987 | €4,000 | +€1,014 | +33.9% |
| Total equity and liabilities | 10/49 | €764,667 | €726,816 | -€37,851 | -5.0% |
| Equity | 10/15 | €157,274 | €123,736 | -€33,538 | -21.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €144,874 | €144,874 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,338 | €5,338 | = | 0.0% |
| Distributable reserves | 133 | €139,536 | €139,536 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€33,538 | -€33,538 | |
| Amounts payable | 17/49 | €607,394 | €603,080 | -€4,314 | -0.7% |
| Amounts payable after more than one year | 17 | €21,835 | €0 | -€21,835 | -100% |
| Financial debts | 170/4 | €21,835 | €0 | -€21,835 | -100% |
| Amounts payable within one year | 42/48 | €576,709 | €594,044 | +€17,335 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €126,366 | €148,358 | +€21,992 | +17.4% |
| Financial debts | 43 | - | €74,031 | +€74,031 | |
| Credit institutions | 430/8 | - | €74,031 | +€74,031 | |
| Trade debts | 44 | €2,556 | €18,174 | +€15,618 | +611% |
| Suppliers | 440/4 | €2,556 | €18,174 | +€15,618 | +611% |
| Taxes, remuneration and social security | 45 | €1,388 | €2,031 | +€643 | +46.3% |
| Taxes | 450/3 | €1,388 | €2,031 | +€643 | +46.3% |
| Other amounts payable | 47/48 | €446,399 | €351,449 | -€94,950 | -21.3% |
| Accrued charges and deferred income | 492/3 | €8,850 | €9,036 | +€186 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,069 | €22,499 | +€430 | +2.0% |
| Other operating charges | 640/8 | €3,569 | €4,304 | +€735 | +20.6% |
| Gross operating margin | 9900 | €70,803 | -€2,476 | -€73,279 | |
| Operating profit (loss) | 9901 | €45,165 | -€29,279 | -€74,444 | |
| Financial income | 75/76B | €268 | €352 | +€84 | +31.4% |
| Recurring financial income | 75 | €268 | €352 | +€84 | +31.4% |
| Financial charges | 65/66B | €19,335 | €4,386 | -€14,949 | -77.3% |
| Recurring financial charges | 65 | €19,335 | €4,386 | -€14,949 | -77.3% |
| Profit (loss) for the period before taxes | 9903 | €26,098 | -€33,313 | -€59,411 | |
| Income taxes | 67/77 | €301 | €224 | -€77 | -25.5% |
| Profit (loss) for the period | 9904 | €25,797 | -€33,538 | -€59,334 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,797 | -€33,538 | -€59,334 |
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 27 October 2026 via checked.be.