Antoine ARS: 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.
Antoine ARS
Largest movements
- Receivables within one year +€26,369
up €26,369 (+116%), from €22,764 to €49,132
of which Trade receivables: +€30,020
- Cash +€18,986
up €18,986 (+92.1%), from €20,623 to €39,609
mainly Net result for the year (+€30,630) and Depreciation (+€7,250)
- Tangible fixed assets -€5,687
down €5,687 (-25.2%), from €22,579 to €16,892
- Reserves +€29,700
up €29,700 (+104%), from €28,500 to €58,200
- Trade debts +€7,244
up €7,244 (+179%), from €4,041 to €11,285
- Tax, wage and social debts +€3,985
new in 2025: €3,985
of which Taxes: +€3,654
- Gross operating margin +€8,080
up €8,080 (+16.1%), from €50,106 to €58,186
- Staff costs +€4,191
up €4,191 (+2,248%), from €186 to €4,378
- Depreciation +€1,398
up €1,398 (+23.9%), from €5,852 to €7,250
- Taxes +€1,078
up €1,078 (+7.5%), from €14,444 to €15,522
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 | €66,524 | €106,622 | +€40,098 | +60.3% |
| Fixed assets | 21/28 | €22,579 | €16,892 | -€5,687 | -25.2% |
| Tangible fixed assets | 22/27 | €22,579 | €16,892 | -€5,687 | -25.2% |
| Furniture and vehicles | 24 | €22,579 | €16,892 | -€5,687 | -25.2% |
| Current assets | 29/58 | €43,945 | €89,731 | +€45,785 | +104% |
| Amounts receivable within one year | 40/41 | €22,764 | €49,132 | +€26,369 | +116% |
| Trade receivables | 40 | €19,032 | €49,052 | +€30,020 | +158% |
| Other amounts receivable | 41 | €3,731 | €80 | -€3,651 | -97.9% |
| Cash at bank and in hand | 54/58 | €20,623 | €39,609 | +€18,986 | +92.1% |
| Deferred charges and accrued income | 490/1 | €559 | €989 | +€431 | +77.1% |
| Total equity and liabilities | 10/49 | €66,524 | €106,622 | +€40,098 | +60.3% |
| Equity | 10/15 | €31,551 | €61,349 | +€29,797 | +94.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €28,500 | €58,200 | +€29,700 | +104% |
| Distributable reserves | 133 | €28,500 | €58,200 | +€29,700 | +104% |
| Profit (loss) carried forward | 14 | €51 | €149 | +€97 | +190% |
| Amounts payable | 17/49 | €34,973 | €45,274 | +€10,301 | +29.5% |
| Amounts payable within one year | 42/48 | €34,973 | €45,274 | +€10,301 | +29.5% |
| Trade debts | 44 | €4,041 | €11,285 | +€7,244 | +179% |
| Suppliers | 440/4 | €4,041 | €11,285 | +€7,244 | +179% |
| Taxes, remuneration and social security | 45 | - | €3,985 | +€3,985 | |
| Taxes | 450/3 | - | €3,654 | +€3,654 | |
| Remuneration and social security | 454/9 | - | €331 | +€331 | |
| Other amounts payable | 47/48 | €30,931 | €30,003 | -€928 | -3.0% |
| Remuneration, social security and pensions | 62 | €186 | €4,378 | +€4,191 | +2,248% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,852 | €7,250 | +€1,398 | +23.9% |
| Other operating charges | 640/8 | €128 | €128 | = | 0.0% |
| Gross operating margin | 9900 | €50,106 | €58,186 | +€8,080 | +16.1% |
| Operating profit (loss) | 9901 | €43,939 | €46,431 | +€2,491 | +5.7% |
| Financial income | 75/76B | - | €42 | +€42 | |
| Recurring financial income | 75 | - | €42 | +€42 | |
| Financial charges | 65/66B | €111 | €320 | +€209 | +188% |
| Recurring financial charges | 65 | €111 | €320 | +€209 | +188% |
| Profit (loss) for the period before taxes | 9903 | €43,828 | €46,153 | +€2,324 | +5.3% |
| Income taxes | 67/77 | €14,444 | €15,522 | +€1,078 | +7.5% |
| Profit (loss) for the period | 9904 | €29,384 | €30,630 | +€1,246 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,384 | €30,630 | +€1,246 | +4.2% |
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 15 October 2026 via checked.be.