ANTRELEC: 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.
ANTRELEC
Largest movements
- Receivables within one year +€169,472
up €169,472 (+88.3%), from €191,945 to €361,417
of which Other amounts receivable: +€100,629
- Cash +€115,712
up €115,712 (+381%), from €30,407 to €146,118
mainly Other debts (+€103,443) and Net result for the year (+€76,738)
- Tangible fixed assets -€41,743
down €41,743 (-32.2%), from €129,633 to €87,890
of which Furniture and vehicles: -€35,112
- Stocks and contracts -€31,467
down €31,467 (-49.4%), from €63,667 to €32,201
- Other debts +€103,443
up €103,443 (+277%), from €37,337 to €140,779
- Reserves +€60,000
up €60,000 (+54.1%), from €110,937 to €170,937
of which Distributable reserves: +€60,000
- Tax, wage and social debts +€55,154
up €55,154 (+151%), from €36,457 to €91,611
of which Taxes: +€32,970
- Accrued charges and deferred income +€36,581
up €36,581 (+1,070%), from €3,419 to €40,000
- Debts after one year -€30,874
down €30,874 (-49.3%), from €62,618 to €31,744
- Gross operating margin +€155,975
up €155,975 (+47.8%), from €326,384 to €482,359
- Staff costs +€44,878
up €44,878 (+16.6%), from €271,084 to €315,962
- Taxes +€26,020
up €26,020 (+3,821%), from €681 to €26,701
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 | €417,957 | €630,046 | +€212,088 | +50.7% |
| Fixed assets | 21/28 | €129,660 | €87,890 | -€41,770 | -32.2% |
| Intangible fixed assets | 21 | €28 | - | -€28 | |
| Tangible fixed assets | 22/27 | €129,633 | €87,890 | -€41,743 | -32.2% |
| Plant, machinery and equipment | 23 | €11,156 | €7,479 | -€3,677 | -33.0% |
| Furniture and vehicles | 24 | €105,492 | €70,380 | -€35,112 | -33.3% |
| Other tangible fixed assets | 26 | €12,984 | €10,031 | -€2,953 | -22.7% |
| Current assets | 29/58 | €288,297 | €542,156 | +€253,859 | +88.1% |
| Stocks and contracts in progress | 3 | €63,667 | €32,201 | -€31,467 | -49.4% |
| Stocks | 30/36 | €63,667 | €32,201 | -€31,467 | -49.4% |
| Amounts receivable within one year | 40/41 | €191,945 | €361,417 | +€169,472 | +88.3% |
| Trade receivables | 40 | €181,075 | €249,917 | +€68,843 | +38.0% |
| Other amounts receivable | 41 | €10,870 | €111,499 | +€100,629 | +926% |
| Cash at bank and in hand | 54/58 | €30,407 | €146,118 | +€115,712 | +381% |
| Deferred charges and accrued income | 490/1 | €2,278 | €2,420 | +€142 | +6.2% |
| Total equity and liabilities | 10/49 | €417,957 | €630,046 | +€212,088 | +50.7% |
| Equity | 10/15 | €192,215 | €259,953 | +€67,738 | +35.2% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Revaluation surpluses | 12 | €5,578 | €5,578 | = | 0.0% |
| Reserves | 13 | €110,937 | €170,937 | +€60,000 | +54.1% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | - | -€7,437 | |
| Reserves not available under the articles | 1311 | - | €7,437 | +€7,437 | |
| Distributable reserves | 133 | €103,500 | €163,500 | +€60,000 | +58.0% |
| Profit (loss) carried forward | 14 | €1,332 | €9,070 | +€7,738 | +581% |
| Amounts payable | 17/49 | €225,742 | €370,093 | +€144,351 | +63.9% |
| Amounts payable after more than one year | 17 | €62,618 | €31,744 | -€30,874 | -49.3% |
| Financial debts | 170/4 | €62,618 | €31,744 | -€30,874 | -49.3% |
| Amounts payable within one year | 42/48 | €159,705 | €298,349 | +€138,644 | +86.8% |
| Current portion of amounts payable after more than one year | 42 | €29,793 | €30,874 | +€1,082 | +3.6% |
| Trade debts | 44 | €56,119 | €35,084 | -€21,034 | -37.5% |
| Suppliers | 440/4 | €56,119 | €35,084 | -€21,034 | -37.5% |
| Taxes, remuneration and social security | 45 | €36,457 | €91,611 | +€55,154 | +151% |
| Taxes | 450/3 | €2,593 | €35,563 | +€32,970 | +1,272% |
| Remuneration and social security | 454/9 | €33,865 | €56,048 | +€22,183 | +65.5% |
| Other amounts payable | 47/48 | €37,337 | €140,779 | +€103,443 | +277% |
| Accrued charges and deferred income | 492/3 | €3,419 | €40,000 | +€36,581 | +1,070% |
| Non-recurring operating income | 76A | - | €6,352 | +€6,352 | |
| Remuneration, social security and pensions | 62 | €271,084 | €315,962 | +€44,878 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,170 | €45,004 | +€834 | +1.9% |
| Other operating charges | 640/8 | €1,551 | €1,361 | -€190 | -12.3% |
| Non-recurring operating charges | 66A | - | €9,399 | +€9,399 | |
| Gross operating margin | 9900 | €326,384 | €482,359 | +€155,975 | +47.8% |
| Operating profit (loss) | 9901 | €9,579 | €110,633 | +€101,054 | +1,055% |
| Financial income | 75/76B | - | €523 | +€523 | |
| Recurring financial income | 75 | - | €523 | +€523 | |
| Financial charges | 65/66B | €5,304 | €7,717 | +€2,413 | +45.5% |
| Recurring financial charges | 65 | €5,304 | €7,717 | +€2,413 | +45.5% |
| Profit (loss) for the period before taxes | 9903 | €4,275 | €103,439 | +€99,164 | +2,320% |
| Income taxes | 67/77 | €681 | €26,701 | +€26,020 | +3,821% |
| Profit (loss) for the period | 9904 | €3,594 | €76,738 | +€73,144 | +2,035% |
| Profit (loss) for the period to be appropriated | 9905 | €3,594 | €76,738 | +€73,144 | +2,035% |
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 18 October 2026 via checked.be.