Antoine: 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.
Antoine
Largest movements
- Cash +€12,288
up €12,288 (+44.2%), from €27,792 to €40,079
mainly Depreciation (+€8,391) and Net result for the year (+€6,325)
- Tangible fixed assets -€4,639
down €4,639 (-21.9%), from €21,147 to €16,508
of which Leasing and similar rights: -€4,440
- Reserves +€6,325
up €6,325 (+40.0%), from €15,829 to €22,154
- Debts after one year -€4,219
down €4,219 (-100.0%), from €4,219 to €0
- Trade debts +€3,644
up €3,644 (+68.5%), from €5,322 to €8,966
- Tax, wage and social debts +€2,108
up €2,108 (+28.8%), from €7,314 to €9,422
of which Remuneration and social security: +€1,993
- Staff costs +€13,681
up €13,681 (+111.4%), from €12,276 to €25,957
- Gross operating margin +€12,262
up €12,262 (+34.3%), from €35,790 to €48,052
- Taxes +€2,481
up €2,481 (+367.0%), from €676 to €3,158
- Depreciation -€901
down €901 (-9.7%), from €9,292 to €8,391
- Financial charges +€589
up €589 (+29.1%), from €2,023 to €2,612
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 | €55,435 | €63,011 | +€7,576 | +13.7% |
| Fixed assets | 21/28 | €24,237 | €19,598 | -€4,639 | -19.1% |
| Tangible fixed assets | 22/27 | €21,147 | €16,508 | -€4,639 | -21.9% |
| Plant, machinery and equipment | 23 | €6,390 | €7,735 | +€1,345 | +21.1% |
| Furniture and vehicles | 24 | €3,191 | €2,542 | -€649 | -20.3% |
| Leasing and similar rights | 25 | €8,880 | €4,440 | -€4,440 | -50.0% |
| Other tangible fixed assets | 26 | €2,687 | €1,791 | -€896 | -33.3% |
| Financial fixed assets | 28 | €3,090 | €3,090 | = | 0.0% |
| Current assets | 29/58 | €31,199 | €43,414 | +€12,215 | +39.2% |
| Stocks and contracts in progress | 3 | €1,050 | €1,527 | +€477 | +45.4% |
| Stocks | 30/36 | €1,050 | €1,527 | +€477 | +45.4% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €27,792 | €40,079 | +€12,288 | +44.2% |
| Deferred charges and accrued income | 490/1 | €2,357 | €1,808 | -€549 | -23.3% |
| Total equity and liabilities | 10/49 | €55,435 | €63,011 | +€7,576 | +13.7% |
| Equity | 10/15 | €34,429 | €40,754 | +€6,325 | +18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,829 | €22,154 | +€6,325 | +40.0% |
| Distributable reserves | 133 | €15,829 | €22,154 | +€6,325 | +40.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €21,006 | €22,257 | +€1,251 | +6.0% |
| Amounts payable after more than one year | 17 | €4,219 | €0 | -€4,219 | -100.0% |
| Financial debts | 170/4 | €4,219 | €0 | -€4,219 | -100.0% |
| Amounts payable within one year | 42/48 | €16,787 | €22,257 | +€5,470 | +32.6% |
| Current portion of amounts payable after more than one year | 42 | €4,152 | €3,870 | -€281 | -6.8% |
| Trade debts | 44 | €5,322 | €8,966 | +€3,644 | +68.5% |
| Suppliers | 440/4 | €5,322 | €8,966 | +€3,644 | +68.5% |
| Taxes, remuneration and social security | 45 | €7,314 | €9,422 | +€2,108 | +28.8% |
| Taxes | 450/3 | €6,979 | €7,094 | +€115 | +1.6% |
| Remuneration and social security | 454/9 | €334 | €2,327 | +€1,993 | +595.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €12,276 | €25,957 | +€13,681 | +111.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,292 | €8,391 | -€901 | -9.7% |
| Other operating charges | 640/8 | €1,624 | €1,610 | -€14 | -0.9% |
| Non-recurring operating charges | 66A | €668 | €0 | -€668 | -100.0% |
| Gross operating margin | 9900 | €35,790 | €48,052 | +€12,262 | +34.3% |
| Operating profit (loss) | 9901 | €11,931 | €12,095 | +€164 | +1.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €2,023 | €2,612 | +€589 | +29.1% |
| Recurring financial charges | 65 | €2,023 | €2,612 | +€589 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €9,908 | €9,483 | -€426 | -4.3% |
| Income taxes | 67/77 | €676 | €3,158 | +€2,481 | +367.0% |
| Profit (loss) for the period | 9904 | €9,232 | €6,325 | -€2,907 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,232 | €6,325 | -€2,907 | -31.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.