AT-EM: 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.
AT-EM
Largest movements
- Receivables within one year +€19,792
up €19,792 (+83.4%), from €23,719 to €43,512
of which Trade receivables: +€26,151
- Tangible fixed assets -€17,709
down €17,709 (-77.0%), from €22,998 to €5,289
of which Other tangible fixed assets: -€10,878
- Cash -€9,932
down €9,932 (-79.4%), from €12,507 to €2,575
mainly Receivables within one year (-€19,792) and Net result for the year (-€16,909)
- Deferred charges and accrued income -€2,550
down €2,550 (-20.2%), from €12,643 to €10,093
- Profit (loss) carried forward -€16,909
down €16,909 (-69.5%), from €24,347 to €7,438
- Other debts +€15,455
up €15,455 (+87.8%), from €17,596 to €33,051
- Tax, wage and social debts -€3,338
down €3,338 (-65.8%), from €5,076 to €1,738
of which Remuneration and social security: -€3,839
- Current portion of long-term debt -€3,020
no longer reported in 2025 (was €3,020)
- Trade debts -€2,587
down €2,587 (-84.0%), from €3,078 to €491
- Gross operating margin -€64,797
down €64,797 (-70.0%), from €92,565 to €27,767
- Staff costs -€38,577
down €38,577 (-53.3%), from €72,377 to €33,800
- Depreciation -€5,354
down €5,354 (-44.3%), from €12,071 to €6,718
- Other operating charges +€2,804
up €2,804 (+426%), from €658 to €3,462
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 | €71,867 | €61,469 | -€10,399 | -14.5% |
| Fixed assets | 21/28 | €22,998 | €5,289 | -€17,709 | -77.0% |
| Tangible fixed assets | 22/27 | €22,998 | €5,289 | -€17,709 | -77.0% |
| Plant, machinery and equipment | 23 | €84 | - | -€84 | |
| Furniture and vehicles | 24 | €10,092 | €3,346 | -€6,747 | -66.8% |
| Other tangible fixed assets | 26 | €12,821 | €1,943 | -€10,878 | -84.8% |
| Current assets | 29/58 | €48,870 | €56,179 | +€7,310 | +15.0% |
| Amounts receivable within one year | 40/41 | €23,719 | €43,512 | +€19,792 | +83.4% |
| Trade receivables | 40 | €17,360 | €43,512 | +€26,151 | +151% |
| Other amounts receivable | 41 | €6,359 | - | -€6,359 | |
| Cash at bank and in hand | 54/58 | €12,507 | €2,575 | -€9,932 | -79.4% |
| Deferred charges and accrued income | 490/1 | €12,643 | €10,093 | -€2,550 | -20.2% |
| Total equity and liabilities | 10/49 | €71,867 | €61,469 | -€10,399 | -14.5% |
| Equity | 10/15 | €42,947 | €26,038 | -€16,909 | -39.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,347 | €7,438 | -€16,909 | -69.5% |
| Amounts payable | 17/49 | €28,920 | €35,431 | +€6,510 | +22.5% |
| Amounts payable within one year | 42/48 | €28,770 | €35,281 | +€6,510 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €3,020 | - | -€3,020 | |
| Trade debts | 44 | €3,078 | €491 | -€2,587 | -84.0% |
| Suppliers | 440/4 | €3,078 | €491 | -€2,587 | -84.0% |
| Taxes, remuneration and social security | 45 | €5,076 | €1,738 | -€3,338 | -65.8% |
| Taxes | 450/3 | €1,237 | €1,738 | +€501 | +40.5% |
| Remuneration and social security | 454/9 | €3,839 | - | -€3,839 | |
| Other amounts payable | 47/48 | €17,596 | €33,051 | +€15,455 | +87.8% |
| Accrued charges and deferred income | 492/3 | €150 | €150 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €72,377 | €33,800 | -€38,577 | -53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,071 | €6,718 | -€5,354 | -44.3% |
| Other operating charges | 640/8 | €658 | €3,462 | +€2,804 | +426% |
| Gross operating margin | 9900 | €92,565 | €27,767 | -€64,797 | -70.0% |
| Operating profit (loss) | 9901 | €7,459 | -€16,213 | -€23,672 | |
| Financial income | 75/76B | €1 | €61 | +€60 | +6,736% |
| Recurring financial income | 75 | €1 | €61 | +€60 | +6,736% |
| Financial charges | 65/66B | €293 | €757 | +€463 | +158% |
| Recurring financial charges | 65 | €293 | €757 | +€463 | +158% |
| Profit (loss) for the period before taxes | 9903 | €7,166 | -€16,909 | -€24,075 | |
| Income taxes | 67/77 | €721 | - | -€721 | |
| Profit (loss) for the period | 9904 | €6,445 | -€16,909 | -€23,354 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,445 | -€16,909 | -€23,354 |
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 15 October 2026 via checked.be.