ANTVEST: 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.
ANTVEST
Largest movements
- Stocks and contracts -€4.7m
down €4.7m (-44.0%), from €10.7m to €6.0m
- Receivables within one year -€942,144
down €942,144 (-41.2%), from €2.3m to €1.3m
of which Trade receivables: -€827,726
- Receivables after one year +€166,502
new in 2025: €166,502
- Short-term financial debts -€5.8m
down €5.8m (-85.4%), from €6.8m to €991,347
- Debts after one year -€1.0m
down €1.0m (-22.3%), from €4.6m to €3.6m
- Reserves +€649,530
up €649,530 (+80.6%), from €806,010 to €1.5m
- Accrued charges and deferred income +€460,113
up €460,113 (+150.5%), from €305,674 to €765,788
- Trade debts +€231,145
up €231,145 (+75.9%), from €304,357 to €535,502
- Gross operating margin +€545,431
up €545,431 (+75.7%), from €720,926 to €1.3m
- Taxes +€138,765
up €138,765 (+80.8%), from €171,761 to €310,527
- Financial charges +€100,530
up €100,530 (+45.3%), from €222,059 to €322,589
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 | €13,174,668 | €7,655,107 | -€5.5m | -41.9% |
| Current assets | 29/58 | €13,174,668 | €7,655,107 | -€5.5m | -41.9% |
| Amounts receivable after more than one year | 29 | - | €166,502 | +€166,502 | |
| Other amounts receivable | 291 | - | €166,502 | +€166,502 | |
| Stocks and contracts in progress | 3 | €10,683,735 | €5,985,698 | -€4.7m | -44.0% |
| Stocks | 30/36 | €10,683,735 | €5,985,698 | -€4.7m | -44.0% |
| Amounts receivable within one year | 40/41 | €2,289,356 | €1,347,212 | -€942,144 | -41.2% |
| Trade receivables | 40 | €1,739,089 | €911,363 | -€827,726 | -47.6% |
| Other amounts receivable | 41 | €550,268 | €435,849 | -€114,418 | -20.8% |
| Cash at bank and in hand | 54/58 | €200,555 | €155,694 | -€44,861 | -22.4% |
| Deferred charges and accrued income | 490/1 | €1,023 | - | -€1,023 | |
| Total equity and liabilities | 10/49 | €13,174,668 | €7,655,107 | -€5.5m | -41.9% |
| Equity | 10/15 | €824,768 | €1,474,299 | +€649,531 | +78.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €806,010 | €1,455,540 | +€649,530 | +80.6% |
| Distributable reserves | 133 | €806,010 | €1,455,540 | +€649,530 | +80.6% |
| Profit (loss) carried forward | 14 | €208 | €209 | +€1 | +0.6% |
| Amounts payable | 17/49 | €12,349,900 | €6,180,807 | -€6.2m | -50.0% |
| Amounts payable after more than one year | 17 | €4,629,736 | €3,598,871 | -€1.0m | -22.3% |
| Financial debts | 170/4 | €4,629,736 | €3,598,871 | -€1.0m | -22.3% |
| Amounts payable within one year | 42/48 | €7,414,490 | €1,816,148 | -€5.6m | -75.5% |
| Financial debts | 43 | €6,780,700 | €991,347 | -€5.8m | -85.4% |
| Credit institutions | 430/8 | €6,780,700 | €991,347 | -€5.8m | -85.4% |
| Trade debts | 44 | €304,357 | €535,502 | +€231,145 | +75.9% |
| Suppliers | 440/4 | €304,357 | €535,502 | +€231,145 | +75.9% |
| Taxes, remuneration and social security | 45 | €222,905 | €129,123 | -€93,782 | -42.1% |
| Taxes | 450/3 | €222,905 | €129,123 | -€93,782 | -42.1% |
| Other amounts payable | 47/48 | €106,527 | €160,176 | +€53,649 | +50.4% |
| Accrued charges and deferred income | 492/3 | €305,674 | €765,788 | +€460,113 | +150.5% |
| Other operating charges | 640/8 | €1,289 | €1,410 | +€121 | +9.4% |
| Gross operating margin | 9900 | €720,926 | €1,266,357 | +€545,431 | +75.7% |
| Operating profit (loss) | 9901 | €719,637 | €1,264,947 | +€545,310 | +75.8% |
| Financial income | 75/76B | €5,195 | €17,700 | +€12,505 | +240.7% |
| Recurring financial income | 75 | €5,195 | €17,700 | +€12,505 | +240.7% |
| Financial charges | 65/66B | €222,059 | €322,589 | +€100,530 | +45.3% |
| Recurring financial charges | 65 | €222,059 | €322,589 | +€100,530 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €502,773 | €960,058 | +€457,285 | +91.0% |
| Income taxes | 67/77 | €171,761 | €310,527 | +€138,765 | +80.8% |
| Profit (loss) for the period | 9904 | €331,012 | €649,531 | +€318,519 | +96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €331,012 | €649,531 | +€318,519 | +96.2% |
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.