ANTRECO: 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.
What changed
ANTRECO
NACE 52.241, Warehousing and support activities for transportation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€363,909
2024 · €135,220+€228,689
Equity
€5.8m
2024 · €5.5m+€363,909
Cash
€103,058
2024 · €221,808-€118,749
Balance sheet total
€12.3m
2024 · €13.4m-€1.1m
Largest movements
Assets
- Tangible fixed assets -€991,349
down €991,349 (-8.0%), from €12.3m to €11.4m
of which Furniture and vehicles: -€1.5m
Equity and liabilities
- Reserves +€4.4m
up €4.4m (+341%), from €1.3m to €5.7m
of which Distributable reserves: +€4.2m
- Profit (loss) carried forward -€4.0m
down €4.0m (-99.8%), from €4.0m to €9,023
- Debts after one year -€1.2m
down €1.2m (-39.1%), from €3.0m to €1.8m
- Other debts -€550,000
down €550,000 (-18.3%), from €3.0m to €2.5m
- Trade debts +€150,625
up €150,625 (+22.8%), from €659,787 to €810,412
Income statement
- Gross operating margin +€440,641
up €440,641 (+12.4%), from €3.6m to €4.0m
- Depreciation +€176,740
up €176,740 (+6.0%), from €2.9m to €3.1m
- Financial charges -€51,133
down €51,133 (-28.7%), from €178,029 to €126,896
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.
Result 2024
€135,220
Gross operating margin
+€440,641
Staff costs
-€3,598
Depreciation
-€176,740
Other operating charges
-€2,513
Other operating items
-€882
Financial income
+€2
Financial charges
+€51,133
Taxes
-€8,651
Deferred taxes and other
-€70,703
Result 2025
€363,909
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.2m
Investment
-€2.1m
Financing
-€1.2m
Cash 2024
€221,808
From operations (derived)
+€3.2m
Net result for the year
+€363,909
Depreciation
+€3.1m
Smaller working-capital items
+€4,766
Deferred charges and accrued income
-€14,499
Provisions
+€70,703
Trade debts
+€150,625
Tax, wage and social debts
+€22,966
Other debts
-€550,000
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
-€1.2m
Debts after one year
-€1.2m
Current portion of long-term debt
+€9,611
Cash 2025
€103,058
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,418,622 | €12,318,482 | -€1.1m | -8.2% |
| Fixed assets | 21/28 | €12,350,520 | €11,359,171 | -€991,349 | -8.0% |
| Tangible fixed assets | 22/27 | €12,348,434 | €11,357,085 | -€991,349 | -8.0% |
| Plant, machinery and equipment | 23 | €303,553 | €168,082 | -€135,471 | -44.6% |
| Furniture and vehicles | 24 | €11,072,205 | €9,599,647 | -€1.5m | -13.3% |
| Other tangible fixed assets | 26 | €972,676 | €1,589,356 | +€616,680 | +63.4% |
| Financial fixed assets | 28 | €2,086 | €2,086 | = | 0.0% |
| Current assets | 29/58 | €1,068,102 | €959,311 | -€108,791 | -10.2% |
| Amounts receivable within one year | 40/41 | €733,923 | €729,383 | -€4,541 | -0.6% |
| Trade receivables | 40 | €641,844 | €717,985 | +€76,141 | +11.9% |
| Other amounts receivable | 41 | €92,079 | €11,398 | -€80,681 | -87.6% |
| Cash at bank and in hand | 54/58 | €221,808 | €103,058 | -€118,749 | -53.5% |
| Deferred charges and accrued income | 490/1 | €112,371 | €126,870 | +€14,499 | +12.9% |
| Total equity and liabilities | 10/49 | €13,418,622 | €12,318,482 | -€1.1m | -8.2% |
| Equity | 10/15 | €5,482,022 | €5,845,932 | +€363,909 | +6.6% |
| Contributions | 10/11 | €158,000 | €158,000 | = | 0.0% |
| Capital | 10 | €158,000 | €158,000 | = | 0.0% |
| Issued capital | 100 | €158,000 | €158,000 | = | 0.0% |
| Reserves | 13 | €1,286,800 | €5,678,909 | +€4.4m | +341% |
| Non-distributable reserves | 130/1 | €15,800 | €15,800 | = | 0.0% |
| Legal reserve | 130 | €15,800 | €15,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,000 | €233,109 | +€212,109 | +1,010% |
| Distributable reserves | 133 | €1,250,000 | €5,430,000 | +€4.2m | +334% |
| Profit (loss) carried forward | 14 | €4,037,222 | €9,023 | -€4.0m | -99.8% |
| Provisions and deferred taxes | 16 | - | €70,703 | +€70,703 | |
| Deferred taxes | 168 | - | €70,703 | +€70,703 | |
| Amounts payable | 17/49 | €7,936,599 | €6,401,847 | -€1.5m | -19.3% |
| Amounts payable after more than one year | 17 | €2,986,571 | €1,818,391 | -€1.2m | -39.1% |
| Financial debts | 170/4 | €2,986,571 | €1,818,391 | -€1.2m | -39.1% |
| Amounts payable within one year | 42/48 | €4,835,207 | €4,468,409 | -€366,798 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €1,158,569 | €1,168,180 | +€9,611 | +0.8% |
| Trade debts | 44 | €659,787 | €810,412 | +€150,625 | +22.8% |
| Suppliers | 440/4 | €659,787 | €810,412 | +€150,625 | +22.8% |
| Taxes, remuneration and social security | 45 | €16,851 | €39,817 | +€22,966 | +136% |
| Taxes | 450/3 | €2,444 | €11,225 | +€8,781 | +359% |
| Remuneration and social security | 454/9 | €14,406 | €28,592 | +€14,186 | +98.5% |
| Other amounts payable | 47/48 | €3,000,000 | €2,450,000 | -€550,000 | -18.3% |
| Accrued charges and deferred income | 492/3 | €114,822 | €115,047 | +€225 | +0.2% |
| Non-recurring operating income | 76A | €215,174 | €424,054 | +€208,881 | +97.1% |
| Remuneration, social security and pensions | 62 | €85,559 | €89,157 | +€3,598 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,946,967 | €3,123,707 | +€176,740 | +6.0% |
| Other operating charges | 640/8 | €150,434 | €152,947 | +€2,513 | +1.7% |
| Non-recurring operating charges | 66A | - | €882 | +€882 | |
| Gross operating margin | 9900 | €3,550,710 | €3,991,352 | +€440,641 | +12.4% |
| Operating profit (loss) | 9901 | €367,750 | €624,658 | +€256,908 | +69.9% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €178,029 | €126,896 | -€51,133 | -28.7% |
| Recurring financial charges | 65 | €178,029 | €126,896 | -€51,133 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €189,720 | €497,764 | +€308,043 | +162% |
| Transfer from deferred taxes | 780 | €0 | €10,246 | +€10,246 | |
| Transfer to deferred taxes | 680 | - | €80,949 | +€80,949 | |
| Income taxes | 67/77 | €54,500 | €63,151 | +€8,651 | +15.9% |
| Profit (loss) for the period | 9904 | €135,220 | €363,909 | +€228,689 | +169% |
| Transfer from tax-exempt reserves | 789 | €25,552 | €30,739 | +€5,187 | +20.3% |
| Transfer to tax-exempt reserves | 689 | - | €242,848 | +€242,848 | |
| Profit (loss) for the period to be appropriated | 9905 | €160,772 | €151,800 | -€8,972 | -5.6% |
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 21 October 2026 via checked.be.