ANTS: what changed
Two fiscal 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
ANTS
NACE 42.220, Construction of utility projects for electricity and telecommunications
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€9,757
2024 · €76,785-€67,028
Equity
€196,569
2024 · €186,812+€9,757
Cash
€12,507
2024 · €37,218-€24,712
Balance sheet total
€939,473
2024 · €998,651-€59,178
Largest movements
Assets
- Receivables within one year -€34,696
down €34,696 (-12.4%), from €279,046 to €244,349
of which Trade receivables: -€30,686
- Cash -€24,712
down €24,712 (-66.4%), from €37,218 to €12,507
mainly Debts after one year (-€26,802) and Short-term financial debts (-€25,261)
- Stocks and contracts +€15,000
new in 2025: €15,000
- Financial fixed assets -€13,158
down €13,158 (-95.3%), from €13,801 to €643
Equity and liabilities
- Debts after one year -€26,802
down €26,802 (-5.9%), from €456,104 to €429,302
of which Financial debts: -€26,802
- Short-term financial debts -€25,261
down €25,261 (-70.8%), from €35,705 to €10,443
Income statement
- Gross operating margin -€61,069
down €61,069 (-9.8%), from €622,498 to €561,429
- Taxes -€13,541
down €13,541 (-88.8%), from €15,246 to €1,706
- Financial charges +€11,596
up €11,596 (+59.3%), from €19,550 to €31,146
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
€76,785
Gross operating margin
-€61,069
Staff costs
-€4,319
Depreciation
-€2,614
Write-downs
+€522
Other operating charges
-€1,502
Financial income
+€9
Financial charges
-€11,596
Taxes
+€13,541
Result 2025
€9,757
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.
From operations
+€44,567
Investment
-€9,711
Financing
-€59,567
Cash 2024
€37,218
From operations (derived)
+€44,567
Net result for the year
+€9,757
Depreciation
+€24,864
Stocks and contracts
-€15,000
Receivables within one year
+€34,696
Deferred charges and accrued income
-€382
Trade debts
-€4,605
Tax, wage and social debts
-€8,723
Other debts
-€5,555
Accrued charges and deferred income
+€9,515
Investment (derived)
-€9,711
Investment in fixed assets (net)
-€9,711
Financing
-€59,567
Debts after one year
-€26,802
Current portion of long-term debt
-€7,504
Short-term financial debts
-€25,261
Cash 2025
€12,507
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €998,651 | €939,473 | -€59,178 | -5.9% |
| Fixed assets | 21/28 | €662,280 | €647,128 | -€15,153 | -2.3% |
| Tangible fixed assets | 22/27 | €648,479 | €646,484 | -€1,994 | -0.3% |
| Land and buildings | 22 | €620,917 | €607,325 | -€13,592 | -2.2% |
| Plant, machinery and equipment | 23 | €14,500 | €9,693 | -€4,806 | -33.1% |
| Furniture and vehicles | 24 | €6,921 | €10,379 | +€3,458 | +50.0% |
| Other tangible fixed assets | 26 | €6,141 | €19,087 | +€12,946 | +210.8% |
| Financial fixed assets | 28 | €13,801 | €643 | -€13,158 | -95.3% |
| Current assets | 29/58 | €336,371 | €292,345 | -€44,026 | -13.1% |
| Stocks and contracts in progress | 3 | - | €15,000 | +€15,000 | |
| Stocks | 30/36 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €279,046 | €244,349 | -€34,696 | -12.4% |
| Trade receivables | 40 | €246,944 | €216,257 | -€30,686 | -12.4% |
| Other amounts receivable | 41 | €32,102 | €28,092 | -€4,010 | -12.5% |
| Cash at bank and in hand | 54/58 | €37,218 | €12,507 | -€24,712 | -66.4% |
| Deferred charges and accrued income | 490/1 | €20,107 | €20,489 | +€382 | +1.9% |
| Total equity and liabilities | 10/49 | €998,651 | €939,473 | -€59,178 | -5.9% |
| Equity | 10/15 | €186,812 | €196,569 | +€9,757 | +5.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €180,612 | €190,369 | +€9,757 | +5.4% |
| Distributable reserves | 133 | €180,612 | €190,369 | +€9,757 | +5.4% |
| Amounts payable | 17/49 | €811,839 | €742,904 | -€68,935 | -8.5% |
| Amounts payable after more than one year | 17 | €456,104 | €429,302 | -€26,802 | -5.9% |
| Financial debts | 170/4 | €410,104 | €383,302 | -€26,802 | -6.5% |
| Other amounts payable | 178/9 | €46,000 | €46,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €352,069 | €300,420 | -€51,648 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €67,446 | €59,943 | -€7,504 | -11.1% |
| Financial debts | 43 | €35,705 | €10,443 | -€25,261 | -70.8% |
| Credit institutions | 430/8 | €35,705 | €10,443 | -€25,261 | -70.8% |
| Trade debts | 44 | €136,730 | €132,125 | -€4,605 | -3.4% |
| Suppliers | 440/4 | €136,730 | €132,125 | -€4,605 | -3.4% |
| Taxes, remuneration and social security | 45 | €89,520 | €80,797 | -€8,723 | -9.7% |
| Taxes | 450/3 | €17,195 | €5,770 | -€11,425 | -66.4% |
| Remuneration and social security | 454/9 | €72,325 | €75,027 | +€2,702 | +3.7% |
| Other amounts payable | 47/48 | €22,668 | €17,113 | -€5,555 | -24.5% |
| Accrued charges and deferred income | 492/3 | €3,667 | €13,182 | +€9,515 | +259.5% |
| Non-recurring operating income | 76A | €9,036 | €16,731 | +€7,695 | +85.2% |
| Remuneration, social security and pensions | 62 | €480,561 | €484,880 | +€4,319 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,250 | €24,864 | +€2,614 | +11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €522 | - | -€522 | |
| Other operating charges | 640/8 | €7,715 | €9,217 | +€1,502 | +19.5% |
| Gross operating margin | 9900 | €622,498 | €561,429 | -€61,069 | -9.8% |
| Operating profit (loss) | 9901 | €111,450 | €42,468 | -€68,982 | -61.9% |
| Financial income | 75/76B | €131 | €140 | +€9 | +6.8% |
| Recurring financial income | 75 | €131 | €140 | +€9 | +6.8% |
| Financial charges | 65/66B | €19,550 | €31,146 | +€11,596 | +59.3% |
| Recurring financial charges | 65 | €19,550 | €31,146 | +€11,596 | +59.3% |
| Profit (loss) for the period before taxes | 9903 | €92,031 | €11,462 | -€80,569 | -87.5% |
| Income taxes | 67/77 | €15,246 | €1,706 | -€13,541 | -88.8% |
| Profit (loss) for the period | 9904 | €76,785 | €9,757 | -€67,028 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | €76,785 | €9,757 | -€67,028 | -87.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.