ANTONIO BEHEER: 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.
ANTONIO BEHEER
Largest movements
- Receivables within one year +€21,213
up €21,213 (+67.1%), from €31,626 to €52,839
of which Trade receivables: +€16,774
- Reserves +€95,007
up €95,007 (+16.6%), from €573,720 to €668,727
- Other debts -€58,619
down €58,619 (-6.7%), from €879,268 to €820,649
- Financial charges +€18,531
up €18,531 (+63.6%), from €29,131 to €47,662
- Gross operating margin +€11,451
up €11,451 (+6.8%), from €167,267 to €178,717
- Taxes -€3,481
down €3,481 (-12.0%), from €29,042 to €25,561
- Depreciation +€3,246
up €3,246 (+63.6%), from €5,103 to €8,349
- Other operating charges +€1,958
up €1,958 (+1,081%), from €181 to €2,139
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 | €1,552,912 | €1,593,370 | +€40,458 | +2.6% |
| Fixed assets | 21/28 | €1,450,230 | €1,454,855 | +€4,624 | +0.3% |
| Tangible fixed assets | 22/27 | €69,376 | €74,000 | +€4,624 | +6.7% |
| Land and buildings | 22 | €69,376 | €64,274 | -€5,103 | -7.4% |
| Furniture and vehicles | 24 | - | €9,727 | +€9,727 | |
| Financial fixed assets | 28 | €1,380,854 | €1,380,854 | = | 0.0% |
| Current assets | 29/58 | €102,682 | €138,515 | +€35,833 | +34.9% |
| Amounts receivable within one year | 40/41 | €31,626 | €52,839 | +€21,213 | +67.1% |
| Trade receivables | 40 | €31,626 | €48,400 | +€16,774 | +53.0% |
| Other amounts receivable | 41 | - | €4,439 | +€4,439 | |
| Cash at bank and in hand | 54/58 | €69,125 | €83,535 | +€14,409 | +20.8% |
| Deferred charges and accrued income | 490/1 | €1,931 | €2,142 | +€211 | +10.9% |
| Total equity and liabilities | 10/49 | €1,552,912 | €1,593,370 | +€40,458 | +2.6% |
| Equity | 10/15 | €598,720 | €693,727 | +€95,007 | +15.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €573,720 | €668,727 | +€95,007 | +16.6% |
| Distributable reserves | 133 | €573,720 | €668,727 | +€95,007 | +16.6% |
| Amounts payable | 17/49 | €954,192 | €899,643 | -€54,549 | -5.7% |
| Amounts payable within one year | 42/48 | €933,180 | €866,668 | -€66,512 | -7.1% |
| Financial debts | 43 | €22,917 | €17,591 | -€5,325 | -23.2% |
| Credit institutions | 430/8 | €22,917 | €17,591 | -€5,325 | -23.2% |
| Trade debts | 44 | €4,559 | €2,234 | -€2,325 | -51.0% |
| Suppliers | 440/4 | €4,559 | €2,234 | -€2,325 | -51.0% |
| Taxes, remuneration and social security | 45 | €26,437 | €26,194 | -€243 | -0.9% |
| Taxes | 450/3 | €26,437 | €26,194 | -€243 | -0.9% |
| Other amounts payable | 47/48 | €879,268 | €820,649 | -€58,619 | -6.7% |
| Accrued charges and deferred income | 492/3 | €21,012 | €32,975 | +€11,963 | +56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,103 | €8,349 | +€3,246 | +63.6% |
| Other operating charges | 640/8 | €181 | €2,139 | +€1,958 | +1,081% |
| Gross operating margin | 9900 | €167,267 | €178,717 | +€11,451 | +6.8% |
| Operating profit (loss) | 9901 | €161,983 | €168,230 | +€6,247 | +3.9% |
| Financial charges | 65/66B | €29,131 | €47,662 | +€18,531 | +63.6% |
| Recurring financial charges | 65 | €29,131 | €47,662 | +€18,531 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €132,852 | €120,568 | -€12,284 | -9.2% |
| Income taxes | 67/77 | €29,042 | €25,561 | -€3,481 | -12.0% |
| Profit (loss) for the period | 9904 | €103,810 | €95,007 | -€8,803 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €103,810 | €95,007 | -€8,803 | -8.5% |
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.