ANTSER: 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.
ANTSER
Largest movements
- Intangible fixed assets +€33,013
up €33,013 (+22.2%), from €148,753 to €181,766
- Receivables within one year -€32,544
down €32,544 (-31.2%), from €104,357 to €71,813
of which Trade receivables: -€27,811
- Cash +€12,286
up €12,286 (+30.4%), from €40,469 to €52,755
mainly Depreciation (+€74,162) and Receivables within one year (+€32,544)
- Reserves +€22,047
up €22,047 (+50.7%), from €43,448 to €65,495
of which Distributable reserves: +€22,047
- Trade debts -€13,330
down €13,330 (-8.3%), from €161,003 to €147,673
- Tax, wage and social debts +€4,175
up €4,175 (+413%), from €1,010 to €5,185
of which Taxes: +€3,298
- Gross operating margin +€96,241
up €96,241 (+989%), from €9,731 to €105,972
- Depreciation +€67,967
up €67,967 (+1,097%), from €6,195 to €74,162
- Staff costs +€7,939
new in 2025: €7,939
- Taxes +€1,532
new in 2025: €1,532
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 | €304,041 | €316,934 | +€12,893 | +4.2% |
| Fixed assets | 21/28 | €148,753 | €181,766 | +€33,013 | +22.2% |
| Intangible fixed assets | 21 | €148,753 | €181,766 | +€33,013 | +22.2% |
| Current assets | 29/58 | €155,288 | €135,167 | -€20,121 | -13.0% |
| Amounts receivable within one year | 40/41 | €104,357 | €71,813 | -€32,544 | -31.2% |
| Trade receivables | 40 | €99,407 | €71,597 | -€27,811 | -28.0% |
| Other amounts receivable | 41 | €4,950 | €216 | -€4,733 | -95.6% |
| Current investments | 50/53 | €9,750 | €9,750 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €40,469 | €52,755 | +€12,286 | +30.4% |
| Deferred charges and accrued income | 490/1 | €713 | €850 | +€137 | +19.3% |
| Total equity and liabilities | 10/49 | €304,041 | €316,934 | +€12,893 | +4.2% |
| Equity | 10/15 | €108,448 | €130,495 | +€22,047 | +20.3% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €43,448 | €65,495 | +€22,047 | +50.7% |
| Non-distributable reserves | 130/1 | €16,250 | €16,250 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Own shares acquired | 1312 | €9,750 | €9,750 | = | 0.0% |
| Distributable reserves | 133 | €27,198 | €49,245 | +€22,047 | +81.1% |
| Amounts payable | 17/49 | €195,593 | €186,439 | -€9,154 | -4.7% |
| Amounts payable within one year | 42/48 | €195,593 | €186,439 | -€9,154 | -4.7% |
| Trade debts | 44 | €161,003 | €147,673 | -€13,330 | -8.3% |
| Suppliers | 440/4 | €161,003 | €147,673 | -€13,330 | -8.3% |
| Taxes, remuneration and social security | 45 | €1,010 | €5,185 | +€4,175 | +413% |
| Taxes | 450/3 | €1,010 | €4,308 | +€3,298 | +326% |
| Remuneration and social security | 454/9 | - | €878 | +€878 | |
| Other amounts payable | 47/48 | €33,580 | €33,580 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €7,939 | +€7,939 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,195 | €74,162 | +€67,967 | +1,097% |
| Other operating charges | 640/8 | €268 | €120 | -€148 | -55.2% |
| Gross operating margin | 9900 | €9,731 | €105,972 | +€96,241 | +989% |
| Operating profit (loss) | 9901 | €3,268 | €23,751 | +€20,483 | +627% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €406 | €172 | -€234 | -57.6% |
| Recurring financial charges | 65 | €406 | €172 | -€234 | -57.6% |
| Profit (loss) for the period before taxes | 9903 | €2,862 | €23,579 | +€20,717 | +724% |
| Income taxes | 67/77 | - | €1,532 | +€1,532 | |
| Profit (loss) for the period | 9904 | €2,862 | €22,047 | +€19,185 | +670% |
| Profit (loss) for the period to be appropriated | 9905 | €2,862 | €22,047 | +€19,185 | +670% |
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 17 October 2026 via checked.be.