AT4S: 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.
AT4S
Largest movements
- Stocks and contracts -€677,960
down €677,960 (-70.7%), from €958,970 to €281,010
- Receivables within one year -€229,719
down €229,719 (-73.4%), from €312,872 to €83,153
- Debts after one year -€760,335
no longer reported in 2025 (was €760,335)
- Other debts -€276,500
down €276,500 (-59.9%), from €461,500 to €185,000
- Current portion of long-term debt +€70,000
new in 2025: €70,000
- Reserves +€56,552
up €56,552 (+283.8%), from €19,924 to €76,476
- Gross operating margin +€156,276
up €156,276 (+422.6%), from €36,979 to €193,256
- Taxes +€41,937
up €41,937 (+838.7%), from €5,000 to €46,937
- Financial charges +€17,909
up €17,909 (+688.6%), from €2,601 to €20,510
- Other operating charges +€2,067
up €2,067 (+211.2%), from €978 to €3,045
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 | €1,275,937 | €374,587 | -€901,350 | -70.6% |
| Current assets | 29/58 | €1,275,937 | €374,587 | -€901,350 | -70.6% |
| Stocks and contracts in progress | 3 | €958,970 | €281,010 | -€677,960 | -70.7% |
| Stocks | 30/36 | €958,970 | €281,010 | -€677,960 | -70.7% |
| Amounts receivable within one year | 40/41 | €312,872 | €83,153 | -€229,719 | -73.4% |
| Other amounts receivable | 41 | €312,872 | €83,153 | -€229,719 | -73.4% |
| Cash at bank and in hand | 54/58 | €1,502 | €10,423 | +€8,921 | +594.0% |
| Deferred charges and accrued income | 490/1 | €2,593 | - | -€2,593 | |
| Total equity and liabilities | 10/49 | €1,275,937 | €374,587 | -€901,350 | -70.6% |
| Equity | 10/15 | €39,924 | €96,476 | +€56,552 | +141.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €19,924 | €76,476 | +€56,552 | +283.8% |
| Distributable reserves | 133 | €19,924 | €76,476 | +€56,552 | +283.8% |
| Amounts payable | 17/49 | €1,236,013 | €278,111 | -€957,903 | -77.5% |
| Amounts payable after more than one year | 17 | €760,335 | - | -€760,335 | |
| Financial debts | 170/4 | €760,335 | - | -€760,335 | |
| Amounts payable within one year | 42/48 | €474,150 | €269,079 | -€205,070 | -43.3% |
| Current portion of amounts payable after more than one year | 42 | - | €70,000 | +€70,000 | |
| Trade debts | 44 | €7,650 | €7,142 | -€507 | -6.6% |
| Suppliers | 440/4 | €7,650 | €7,142 | -€507 | -6.6% |
| Taxes, remuneration and social security | 45 | €5,000 | €6,937 | +€1,937 | +38.7% |
| Taxes | 450/3 | €5,000 | €6,937 | +€1,937 | +38.7% |
| Other amounts payable | 47/48 | €461,500 | €185,000 | -€276,500 | -59.9% |
| Accrued charges and deferred income | 492/3 | €1,529 | €9,031 | +€7,503 | +490.8% |
| Other operating charges | 640/8 | €978 | €3,045 | +€2,067 | +211.2% |
| Gross operating margin | 9900 | €36,979 | €193,256 | +€156,276 | +422.6% |
| Operating profit (loss) | 9901 | €36,001 | €190,211 | +€154,210 | +428.3% |
| Financial income | 75/76B | €2,593 | €3,788 | +€1,195 | +46.1% |
| Recurring financial income | 75 | €2,593 | €3,788 | +€1,195 | +46.1% |
| Financial charges | 65/66B | €2,601 | €20,510 | +€17,909 | +688.6% |
| Recurring financial charges | 65 | €2,601 | €20,510 | +€17,909 | +688.6% |
| Profit (loss) for the period before taxes | 9903 | €35,993 | €173,489 | +€137,496 | +382.0% |
| Income taxes | 67/77 | €5,000 | €46,937 | +€41,937 | +838.7% |
| Profit (loss) for the period | 9904 | €30,993 | €126,552 | +€95,559 | +308.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,993 | €126,552 | +€95,559 | +308.3% |
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 10 October 2026 via checked.be.