ANTIAK: 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.
ANTIAK
Largest movements
- Stocks and contracts +€1.1m
up €1.1m (+81.2%), from €1.4m to €2.5m
- Tangible fixed assets -€47,746
down €47,746 (-6.6%), from €728,758 to €681,012
of which Land and buildings: -€37,894
- Receivables within one year -€32,479
down €32,479 (-60.6%), from €53,635 to €21,156
of which Other amounts receivable: -€32,795
- Debts after one year +€835,905
up €835,905 (+123%), from €677,894 to €1.5m
- Other debts +€150,437
up €150,437 (+110%), from €137,205 to €287,642
- Reserves +€76,284
up €76,284 (+72.7%), from €104,931 to €181,215
of which Distributable reserves: +€86,719
- Turnover -€193,962
no longer reported in 2025 (was €193,962)
- Gross operating margin +€167,587
up €167,587 (+113%), from €147,887 to €315,474
- Other operating charges +€68,457
up €68,457 (+184%), from €37,186 to €105,643
- Purchases and services -€46,075
no longer reported in 2025 (was €46,075)
- Taxes +€28,793
up €28,793 (+208%), from €13,858 to €42,651
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 | €2,178,458 | €3,226,970 | +€1.0m | +48.1% |
| Fixed assets | 21/28 | €729,378 | €681,632 | -€47,746 | -6.5% |
| Tangible fixed assets | 22/27 | €728,758 | €681,012 | -€47,746 | -6.6% |
| Land and buildings | 22 | €718,046 | €680,152 | -€37,894 | -5.3% |
| Furniture and vehicles | 24 | €10,712 | €860 | -€9,852 | -92.0% |
| Financial fixed assets | 28 | €620 | €620 | = | 0.0% |
| Current assets | 29/58 | €1,449,080 | €2,545,338 | +€1.1m | +75.7% |
| Stocks and contracts in progress | 3 | €1,377,682 | €2,496,363 | +€1.1m | +81.2% |
| Stocks | 30/36 | €1,377,682 | €2,496,363 | +€1.1m | +81.2% |
| Amounts receivable within one year | 40/41 | €53,635 | €21,156 | -€32,479 | -60.6% |
| Trade receivables | 40 | - | €316 | +€316 | |
| Other amounts receivable | 41 | €53,635 | €20,840 | -€32,795 | -61.1% |
| Cash at bank and in hand | 54/58 | €12,792 | €24,275 | +€11,483 | +89.8% |
| Deferred charges and accrued income | 490/1 | €4,971 | €3,544 | -€1,427 | -28.7% |
| Total equity and liabilities | 10/49 | €2,178,458 | €3,226,970 | +€1.0m | +48.1% |
| Equity | 10/15 | €1,230,260 | €1,306,544 | +€76,284 | +6.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,931 | €181,215 | +€76,284 | +72.7% |
| Tax-exempt reserves | 132 | €83,071 | €72,636 | -€10,435 | -12.6% |
| Distributable reserves | 133 | €21,860 | €108,579 | +€86,719 | +397% |
| Profit (loss) carried forward | 14 | €989,237 | €989,237 | = | 0.0% |
| Investment grants | 15 | €117,492 | €117,492 | = | 0.0% |
| Provisions and deferred taxes | 16 | €34,895 | €30,511 | -€4,384 | -12.6% |
| Deferred taxes | 168 | €34,895 | €30,511 | -€4,384 | -12.6% |
| Amounts payable | 17/49 | €913,303 | €1,889,915 | +€976,612 | +107% |
| Amounts payable after more than one year | 17 | €677,894 | €1,513,799 | +€835,905 | +123% |
| Financial debts | 170/4 | €677,894 | €1,513,799 | +€835,905 | +123% |
| Amounts payable within one year | 42/48 | €235,409 | €376,116 | +€140,707 | +59.8% |
| Current portion of amounts payable after more than one year | 42 | €68,351 | €63,330 | -€5,021 | -7.3% |
| Trade debts | 44 | €29,853 | €9,993 | -€19,860 | -66.5% |
| Suppliers | 440/4 | €29,853 | €9,993 | -€19,860 | -66.5% |
| Taxes, remuneration and social security | 45 | - | €15,151 | +€15,151 | |
| Taxes | 450/3 | - | €15,151 | +€15,151 | |
| Other amounts payable | 47/48 | €137,205 | €287,642 | +€150,437 | +110% |
| Turnover | 70 | €193,962 | - | -€193,962 | |
| Goods, raw materials, services and sundry goods | 60/61 | €46,075 | - | -€46,075 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,157 | €61,597 | -€2,560 | -4.0% |
| Other operating charges | 640/8 | €37,186 | €105,643 | +€68,457 | +184% |
| Non-recurring operating charges | 66A | €76 | - | -€76 | |
| Gross operating margin | 9900 | €147,887 | €315,474 | +€167,587 | +113% |
| Operating profit (loss) | 9901 | €46,468 | €148,234 | +€101,766 | +219% |
| Financial charges | 65/66B | €24,182 | €33,683 | +€9,501 | +39.3% |
| Recurring financial charges | 65 | €24,182 | €33,683 | +€9,501 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | €22,286 | €114,551 | +€92,265 | +414% |
| Transfer from deferred taxes | 780 | €4,384 | €4,384 | = | 0.0% |
| Income taxes | 67/77 | €13,858 | €42,651 | +€28,793 | +208% |
| Profit (loss) for the period | 9904 | €12,812 | €76,284 | +€63,472 | +495% |
| Transfer from tax-exempt reserves | 789 | €10,437 | €10,436 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,249 | €86,720 | +€63,471 | +273% |
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 16 October 2026 via checked.be.