ANTRAFA: 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.
ANTRAFA
Largest movements
- Cash +€48,831
up €48,831 (+212.5%), from €22,984 to €71,815
mainly Net result for the year (+€35,846) and Depreciation (+€11,569)
- Tangible fixed assets -€11,569
down €11,569 (-23.7%), from €48,914 to €37,345
- Profit (loss) carried forward +€35,846
up €35,846 (+64.1%), from -€55,917 to -€20,071
- Gross operating margin +€56,135
up €56,135 (+406.2%), from €13,820 to €69,954
- Financial charges -€15,243
down €15,243 (-88.0%), from €17,320 to €2,078
- Financial income -€4,161
down €4,161 (-99.8%), from €4,168 to €7
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 | €410,104 | €445,952 | +€35,848 | +8.7% |
| Fixed assets | 21/28 | €48,914 | €37,345 | -€11,569 | -23.7% |
| Tangible fixed assets | 22/27 | €48,914 | €37,345 | -€11,569 | -23.7% |
| Land and buildings | 22 | €48,914 | €37,345 | -€11,569 | -23.7% |
| Current assets | 29/58 | €361,190 | €408,607 | +€47,417 | +13.1% |
| Amounts receivable after more than one year | 29 | €324,935 | €324,935 | = | 0.0% |
| Other amounts receivable | 291 | €324,935 | €324,935 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,854 | €1,250 | -€1,603 | -56.2% |
| Other amounts receivable | 41 | €2,854 | €1,250 | -€1,603 | -56.2% |
| Current investments | 50/53 | €10,417 | €10,417 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,984 | €71,815 | +€48,831 | +212.5% |
| Deferred charges and accrued income | 490/1 | - | €190 | +€190 | |
| Total equity and liabilities | 10/49 | €410,104 | €445,952 | +€35,848 | +8.7% |
| Equity | 10/15 | €409,046 | €444,892 | +€35,846 | +8.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €402,963 | €402,963 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,750 | €25,750 | = | 0.0% |
| Distributable reserves | 133 | €371,013 | €371,013 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,917 | -€20,071 | +€35,846 | +64.1% |
| Amounts payable | 17/49 | €1,058 | €1,060 | +€2 | +0.2% |
| Amounts payable within one year | 42/48 | €1,058 | €1,060 | +€2 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €1,000 | €1,000 | = | 0.0% |
| Trade debts | 44 | €58 | €60 | +€2 | +3.4% |
| Suppliers | 440/4 | €58 | €60 | +€2 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,018 | €11,569 | -€448 | -3.7% |
| Other operating charges | 640/8 | €19,829 | €20,466 | +€637 | +3.2% |
| Gross operating margin | 9900 | €13,820 | €69,954 | +€56,135 | +406.2% |
| Operating profit (loss) | 9901 | -€18,027 | €37,919 | +€55,946 | |
| Financial income | 75/76B | €4,168 | €7 | -€4,161 | -99.8% |
| Recurring financial income | 75 | €4,168 | €7 | -€4,161 | -99.8% |
| Financial charges | 65/66B | €17,320 | €2,078 | -€15,243 | -88.0% |
| Recurring financial charges | 65 | €17,320 | €2,078 | -€15,243 | -88.0% |
| Profit (loss) for the period before taxes | 9903 | -€31,179 | €35,848 | +€67,028 | |
| Income taxes | 67/77 | - | €2 | +€2 | |
| Profit (loss) for the period | 9904 | -€31,179 | €35,846 | +€67,025 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,179 | €35,846 | +€67,025 |
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 12 October 2026 via checked.be.