ANTI-CHUTE: what changed
ANTI-CHUTE
Largest movements
- Cash +€96,542
up €96,542 (+26.1%), from €369,520 to €466,063
mainly Other debts (+€266,902) and Net result for the year (+€139,811)
- Current investments +€38,863
up €38,863 (+12.6%), from €309,029 to €347,892
- Receivables within one year -€27,387
down €27,387 (-8.2%), from €332,441 to €305,055
of which Trade receivables: -€31,558
- Tangible fixed assets -€24,501
down €24,501 (-14.8%), from €165,203 to €140,702
of which Furniture and vehicles: -€17,239
- Other debts +€266,902
up €266,902 (+328%), from €81,433 to €348,335
- Reserves -€167,000
down €167,000 (-22.4%), from €744,700 to €577,700
of which Distributable reserves: -€167,000
- Debts after one year -€21,687
down €21,687 (-19.6%), from €110,383 to €88,696
- Tax, wage and social debts +€14,318
up €14,318 (+52.9%), from €27,068 to €41,385
of which Taxes: +€14,756
- Gross operating margin -€150,429
down €150,429 (-36.5%), from €412,488 to €262,059
- Financial income -€32,390
down €32,390 (-86.5%), from €37,448 to €5,058
- Taxes -€32,196
down €32,196 (-37.0%), from €86,924 to €54,727
- Depreciation -€21,114
down €21,114 (-46.3%), from €45,615 to €24,501
- Staff costs -€5,022
down €5,022 (-12.5%), from €40,333 to €35,311
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,218,220 | €1,302,368 | +€84,148 | +6.9% |
| Fixed assets | 21/28 | €166,118 | €141,617 | -€24,501 | -14.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €165,203 | €140,702 | -€24,501 | -14.8% |
| Land and buildings | 22 | €118,267 | €112,618 | -€5,650 | -4.8% |
| Plant, machinery and equipment | 23 | €3,090 | €1,478 | -€1,612 | -52.2% |
| Furniture and vehicles | 24 | €43,845 | €26,607 | -€17,239 | -39.3% |
| Financial fixed assets | 28 | €914 | €914 | = | 0.0% |
| Current assets | 29/58 | €1,052,102 | €1,160,751 | +€108,649 | +10.3% |
| Stocks and contracts in progress | 3 | €41,112 | €41,742 | +€630 | +1.5% |
| Stocks | 30/36 | €41,112 | €41,742 | +€630 | +1.5% |
| Amounts receivable within one year | 40/41 | €332,441 | €305,055 | -€27,387 | -8.2% |
| Trade receivables | 40 | €324,614 | €293,056 | -€31,558 | -9.7% |
| Other amounts receivable | 41 | €7,827 | €11,998 | +€4,171 | +53.3% |
| Current investments | 50/53 | €309,029 | €347,892 | +€38,863 | +12.6% |
| Cash at bank and in hand | 54/58 | €369,520 | €466,063 | +€96,542 | +26.1% |
| Total equity and liabilities | 10/49 | €1,218,220 | €1,302,368 | +€84,148 | +6.9% |
| Equity | 10/15 | €791,797 | €617,047 | -€174,750 | -22.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €744,700 | €577,700 | -€167,000 | -22.4% |
| Tax-exempt reserves | 132 | €121,700 | €121,700 | = | 0.0% |
| Distributable reserves | 133 | €623,000 | €456,000 | -€167,000 | -26.8% |
| Profit (loss) carried forward | 14 | €7,695 | €769 | -€6,927 | -90.0% |
| Investment grants | 15 | €18,941 | €18,118 | -€824 | -4.3% |
| Amounts payable | 17/49 | €426,423 | €685,321 | +€258,898 | +60.7% |
| Amounts payable after more than one year | 17 | €110,383 | €88,696 | -€21,687 | -19.6% |
| Financial debts | 170/4 | €110,383 | €88,696 | -€21,687 | -19.6% |
| Amounts payable within one year | 42/48 | €316,040 | €596,625 | +€280,586 | +88.8% |
| Current portion of amounts payable after more than one year | 42 | €32,799 | €21,687 | -€11,111 | -33.9% |
| Trade debts | 44 | €174,741 | €185,218 | +€10,477 | +6.0% |
| Suppliers | 440/4 | €174,741 | €185,218 | +€10,477 | +6.0% |
| Taxes, remuneration and social security | 45 | €27,068 | €41,385 | +€14,318 | +52.9% |
| Taxes | 450/3 | €26,086 | €40,842 | +€14,756 | +56.6% |
| Remuneration and social security | 454/9 | €982 | €543 | -€439 | -44.7% |
| Other amounts payable | 47/48 | €81,433 | €348,335 | +€266,902 | +328% |
| Remuneration, social security and pensions | 62 | €40,333 | €35,311 | -€5,022 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,615 | €24,501 | -€21,114 | -46.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,155 | €1,895 | -€3,260 | -63.2% |
| Other operating charges | 640/8 | €4,698 | €7,645 | +€2,946 | +62.7% |
| Gross operating margin | 9900 | €412,488 | €262,059 | -€150,429 | -36.5% |
| Operating profit (loss) | 9901 | €316,686 | €192,707 | -€123,979 | -39.1% |
| Financial income | 75/76B | €37,448 | €5,058 | -€32,390 | -86.5% |
| Recurring financial income | 75 | €37,448 | €5,058 | -€32,390 | -86.5% |
| Financial charges | 65/66B | €5,910 | €3,227 | -€2,683 | -45.4% |
| Recurring financial charges | 65 | €5,818 | €3,227 | -€2,591 | -44.5% |
| Non-recurring financial charges | 66B | €92 | - | -€92 | |
| Profit (loss) for the period before taxes | 9903 | €348,225 | €194,538 | -€153,686 | -44.1% |
| Income taxes | 67/77 | €86,924 | €54,727 | -€32,196 | -37.0% |
| Profit (loss) for the period | 9904 | €261,301 | €139,811 | -€121,490 | -46.5% |
| Transfer to tax-exempt reserves | 689 | €84,200 | - | -€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €177,101 | €139,811 | -€37,290 | -21.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.