ANTOINETTE: 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.
ANTOINETTE
Largest movements
- Cash +€26,446
up €26,446 (+1,644%), from €1,608 to €28,055
mainly Other debts (+€63,912) and Net result for the year (+€37,693)
- Current investments -€15,000
down €15,000 (-100%), from €15,000 to €0
- Other debts +€63,912
up €63,912 (+294%), from €21,743 to €85,655
- Reserves -€26,898
down €26,898 (-100%), from €26,898 to €0
- Tax, wage and social debts -€13,812
down €13,812 (-58.3%), from €23,702 to €9,890
of which Taxes: -€13,830
- Debts after one year -€8,607
down €8,607 (-1.7%), from €509,771 to €501,164
of which Financial debts: -€18,607
- Depreciation -€42,350
down €42,350 (-63.7%), from €66,474 to €24,124
- Gross operating margin +€21,258
up €21,258 (+32.3%), from €65,836 to €87,095
- Other operating charges -€17,751
down €17,751 (-72.4%), from €24,512 to €6,761
- Financial charges +€3,703
up €3,703 (+27.1%), from €13,682 to €17,385
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 | €622,734 | €638,450 | +€15,716 | +2.5% |
| Fixed assets | 21/28 | €566,839 | €568,163 | +€1,324 | +0.2% |
| Tangible fixed assets | 22/27 | €506,772 | €508,096 | +€1,324 | +0.3% |
| Land and buildings | 22 | €496,971 | €497,110 | +€139 | 0.0% |
| Plant, machinery and equipment | 23 | - | €1,921 | +€1,921 | |
| Furniture and vehicles | 24 | €1,606 | €870 | -€736 | -45.9% |
| Other tangible fixed assets | 26 | €8,195 | €8,195 | = | 0.0% |
| Financial fixed assets | 28 | €60,067 | €60,067 | = | 0.0% |
| Current assets | 29/58 | €55,895 | €70,287 | +€14,392 | +25.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €33,146 | €34,932 | +€1,786 | +5.4% |
| Trade receivables | 40 | €30,960 | €32,630 | +€1,670 | +5.4% |
| Other amounts receivable | 41 | €2,186 | €2,302 | +€116 | +5.3% |
| Current investments | 50/53 | €15,000 | €0 | -€15,000 | -100% |
| Cash at bank and in hand | 54/58 | €1,608 | €28,055 | +€26,446 | +1,644% |
| Deferred charges and accrued income | 490/1 | €6,141 | €7,300 | +€1,159 | +18.9% |
| Total equity and liabilities | 10/49 | €622,734 | €638,450 | +€15,716 | +2.5% |
| Equity | 10/15 | €46,898 | €20,000 | -€26,898 | -57.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €26,898 | €0 | -€26,898 | -100% |
| Distributable reserves | 133 | €26,898 | €0 | -€26,898 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €575,836 | €618,450 | +€42,614 | +7.4% |
| Amounts payable after more than one year | 17 | €509,771 | €501,164 | -€8,607 | -1.7% |
| Financial debts | 170/4 | €449,771 | €431,164 | -€18,607 | -4.1% |
| Other amounts payable | 178/9 | €60,000 | €70,000 | +€10,000 | +16.7% |
| Amounts payable within one year | 42/48 | €66,065 | €117,286 | +€51,221 | +77.5% |
| Current portion of amounts payable after more than one year | 42 | €17,943 | €18,607 | +€664 | +3.7% |
| Trade debts | 44 | €2,676 | €3,134 | +€458 | +17.1% |
| Suppliers | 440/4 | €2,676 | €3,134 | +€458 | +17.1% |
| Taxes, remuneration and social security | 45 | €23,702 | €9,890 | -€13,812 | -58.3% |
| Taxes | 450/3 | €21,130 | €7,300 | -€13,830 | -65.5% |
| Remuneration and social security | 454/9 | €2,572 | €2,590 | +€18 | +0.7% |
| Other amounts payable | 47/48 | €21,743 | €85,655 | +€63,912 | +294% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,474 | €24,124 | -€42,350 | -63.7% |
| Other operating charges | 640/8 | €24,512 | €6,761 | -€17,751 | -72.4% |
| Non-recurring operating charges | 66A | €540 | €0 | -€540 | -100% |
| Gross operating margin | 9900 | €65,836 | €87,095 | +€21,258 | +32.3% |
| Operating profit (loss) | 9901 | -€25,691 | €56,209 | +€81,900 | |
| Financial income | 75/76B | €1,280 | €1,276 | -€4 | -0.3% |
| Recurring financial income | 75 | €1,280 | €1,276 | -€4 | -0.3% |
| Financial charges | 65/66B | €13,682 | €17,385 | +€3,703 | +27.1% |
| Recurring financial charges | 65 | €13,682 | €17,385 | +€3,703 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | -€38,092 | €40,100 | +€78,192 | |
| Income taxes | 67/77 | €3,134 | €2,407 | -€727 | -23.2% |
| Profit (loss) for the period | 9904 | -€41,226 | €37,693 | +€78,920 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,226 | €37,693 | +€78,920 |
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 24 October 2026 via checked.be.