Antoine Group: 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 Group
Largest movements
- Tangible fixed assets -€32,855
down €32,855 (-22.8%), from €144,189 to €111,334
- Cash +€11,087
up €11,087 (+10.1%), from €110,128 to €121,214
mainly Depreciation (+€38,459) and Stocks and contracts (+€6,335)
- Stocks and contracts -€6,335
down €6,335 (-23.7%), from €26,730 to €20,395
- Receivables within one year +€5,949
up €5,949 (+40.2%), from €14,814 to €20,763
of which Trade receivables: +€4,273
- Other debts -€15,302
down €15,302 (-31.5%), from €48,568 to €33,266
- Current portion of long-term debt -€6,673
down €6,673 (-41.5%), from €16,078 to €9,405
- Gross operating margin -€44,460
down €44,460 (-14.1%), from €314,406 to €269,945
- Staff costs -€17,996
down €17,996 (-7.3%), from €245,065 to €227,069
- Depreciation -€3,541
down €3,541 (-8.4%), from €42,000 to €38,459
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 | €297,920 | €275,748 | -€22,171 | -7.4% |
| Fixed assets | 21/28 | €144,189 | €111,334 | -€32,855 | -22.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €144,189 | €111,334 | -€32,855 | -22.8% |
| Land and buildings | 22 | €67,549 | €55,238 | -€12,312 | -18.2% |
| Plant, machinery and equipment | 23 | €35,643 | €27,373 | -€8,269 | -23.2% |
| Furniture and vehicles | 24 | €40,997 | €28,723 | -€12,274 | -29.9% |
| Current assets | 29/58 | €153,731 | €164,414 | +€10,683 | +6.9% |
| Stocks and contracts in progress | 3 | €26,730 | €20,395 | -€6,335 | -23.7% |
| Stocks | 30/36 | €26,730 | €20,395 | -€6,335 | -23.7% |
| Amounts receivable within one year | 40/41 | €14,814 | €20,763 | +€5,949 | +40.2% |
| Trade receivables | 40 | €13,003 | €17,276 | +€4,273 | +32.9% |
| Other amounts receivable | 41 | €1,811 | €3,487 | +€1,676 | +92.6% |
| Cash at bank and in hand | 54/58 | €110,128 | €121,214 | +€11,087 | +10.1% |
| Deferred charges and accrued income | 490/1 | €2,059 | €2,042 | -€18 | -0.8% |
| Total equity and liabilities | 10/49 | €297,920 | €275,748 | -€22,171 | -7.4% |
| Equity | 10/15 | €21,584 | €20,087 | -€1,497 | -6.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,584 | €684 | -€900 | -56.8% |
| Distributable reserves | 133 | €1,584 | €684 | -€900 | -56.8% |
| Profit (loss) carried forward | 14 | - | -€597 | -€597 | |
| Amounts payable | 17/49 | €276,336 | €255,661 | -€20,674 | -7.5% |
| Amounts payable after more than one year | 17 | €81,020 | €78,751 | -€2,269 | -2.8% |
| Financial debts | 170/4 | €81,020 | €78,751 | -€2,269 | -2.8% |
| Amounts payable within one year | 42/48 | €195,315 | €176,910 | -€18,405 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €16,078 | €9,405 | -€6,673 | -41.5% |
| Trade debts | 44 | €8,100 | €10,702 | +€2,602 | +32.1% |
| Suppliers | 440/4 | €8,100 | €10,702 | +€2,602 | +32.1% |
| Advances received on contracts in progress | 46 | €64,652 | €67,240 | +€2,588 | +4.0% |
| Taxes, remuneration and social security | 45 | €57,917 | €56,297 | -€1,620 | -2.8% |
| Taxes | 450/3 | €31,774 | €26,600 | -€5,174 | -16.3% |
| Remuneration and social security | 454/9 | €26,143 | €29,697 | +€3,554 | +13.6% |
| Other amounts payable | 47/48 | €48,568 | €33,266 | -€15,302 | -31.5% |
| Remuneration, social security and pensions | 62 | €245,065 | €227,069 | -€17,996 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,000 | €38,459 | -€3,541 | -8.4% |
| Other operating charges | 640/8 | €665 | €681 | +€16 | +2.3% |
| Gross operating margin | 9900 | €314,406 | €269,945 | -€44,460 | -14.1% |
| Operating profit (loss) | 9901 | €26,676 | €3,736 | -€22,940 | -86.0% |
| Financial income | 75/76B | €115 | €154 | +€39 | +34.0% |
| Recurring financial income | 75 | €115 | €154 | +€39 | +34.0% |
| Financial charges | 65/66B | €5,262 | €5,062 | -€200 | -3.8% |
| Recurring financial charges | 65 | €5,262 | €5,062 | -€200 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €21,529 | -€1,172 | -€22,700 | |
| Income taxes | 67/77 | €3,325 | €326 | -€2,999 | -90.2% |
| Profit (loss) for the period | 9904 | €18,204 | -€1,497 | -€19,701 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,204 | -€1,497 | -€19,701 |
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 25 October 2026 via checked.be.