ATAR: 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.
ATAR
Largest movements
- Receivables within one year +€55,339
up €55,339 (+57.7%), from €95,976 to €151,315
of which Other amounts receivable: +€28,793
- Tangible fixed assets -€48,087
down €48,087 (-8.9%), from €541,861 to €493,774
- Cash +€46,051
up €46,051 (+71.4%), from €64,516 to €110,567
mainly Depreciation (+€107,442) and Net result for the year (+€99,075)
- Profit (loss) carried forward +€99,075
up €99,075, from -€6,584 to €92,491
- Tax, wage and social debts +€46,453
up €46,453 (+92.5%), from €50,215 to €96,668
of which Taxes: +€36,427
- Debts after one year -€30,744
down €30,744 (-6.3%), from €491,567 to €460,823
of which Financial debts: -€37,340
- Short-term financial debts -€25,935
down €25,935 (-86.5%), from €29,973 to €4,039
- Current portion of long-term debt -€17,970
down €17,970 (-21.1%), from €85,245 to €67,275
- Gross operating margin +€32,824
up €32,824 (+5.9%), from €556,144 to €588,967
- Taxes +€24,033
up €24,033 (+8,632%), from €278 to €24,312
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 | €728,338 | €776,487 | +€48,149 | +6.6% |
| Fixed assets | 21/28 | €542,061 | €493,974 | -€48,087 | -8.9% |
| Tangible fixed assets | 22/27 | €541,861 | €493,774 | -€48,087 | -8.9% |
| Land and buildings | 22 | €395,508 | €379,260 | -€16,249 | -4.1% |
| Plant, machinery and equipment | 23 | €110,765 | €100,880 | -€9,885 | -8.9% |
| Furniture and vehicles | 24 | €35,587 | €13,634 | -€21,954 | -61.7% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €186,277 | €282,513 | +€96,236 | +51.7% |
| Stocks and contracts in progress | 3 | €21,000 | €19,369 | -€1,631 | -7.8% |
| Stocks | 30/36 | €21,000 | €19,369 | -€1,631 | -7.8% |
| Amounts receivable within one year | 40/41 | €95,976 | €151,315 | +€55,339 | +57.7% |
| Trade receivables | 40 | €95,976 | €122,521 | +€26,546 | +27.7% |
| Other amounts receivable | 41 | - | €28,793 | +€28,793 | |
| Cash at bank and in hand | 54/58 | €64,516 | €110,567 | +€46,051 | +71.4% |
| Deferred charges and accrued income | 490/1 | €4,785 | €1,262 | -€3,523 | -73.6% |
| Total equity and liabilities | 10/49 | €728,338 | €776,487 | +€48,149 | +6.6% |
| Equity | 10/15 | €18,847 | €117,922 | +€99,075 | +526% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,830 | €6,830 | = | 0.0% |
| Distributable reserves | 133 | €6,830 | €6,830 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,584 | €92,491 | +€99,075 | |
| Amounts payable | 17/49 | €709,491 | €658,565 | -€50,926 | -7.2% |
| Amounts payable after more than one year | 17 | €491,567 | €460,823 | -€30,744 | -6.3% |
| Financial debts | 170/4 | €472,907 | €435,567 | -€37,340 | -7.9% |
| Other amounts payable | 178/9 | €18,660 | €25,256 | +€6,596 | +35.3% |
| Amounts payable within one year | 42/48 | €203,321 | €197,743 | -€5,579 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €85,245 | €67,275 | -€17,970 | -21.1% |
| Financial debts | 43 | €29,973 | €4,039 | -€25,935 | -86.5% |
| Credit institutions | 430/8 | €29,973 | €4,039 | -€25,935 | -86.5% |
| Trade debts | 44 | €37,711 | €29,761 | -€7,950 | -21.1% |
| Suppliers | 440/4 | €37,711 | €29,761 | -€7,950 | -21.1% |
| Taxes, remuneration and social security | 45 | €50,215 | €96,668 | +€46,453 | +92.5% |
| Taxes | 450/3 | €12,932 | €49,359 | +€36,427 | +282% |
| Remuneration and social security | 454/9 | €37,283 | €47,309 | +€10,025 | +26.9% |
| Other amounts payable | 47/48 | €177 | €0 | -€177 | -100% |
| Accrued charges and deferred income | 492/3 | €14,603 | €0 | -€14,603 | -100% |
| Remuneration, social security and pensions | 62 | €320,584 | €324,341 | +€3,757 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,125 | €107,442 | -€4,683 | -4.2% |
| Other operating charges | 640/8 | €10,029 | €15,258 | +€5,229 | +52.1% |
| Non-recurring operating charges | 66A | €848 | €0 | -€848 | -100% |
| Gross operating margin | 9900 | €556,144 | €588,967 | +€32,824 | +5.9% |
| Operating profit (loss) | 9901 | €112,559 | €141,927 | +€29,368 | +26.1% |
| Financial income | 75/76B | €1,425 | €1,116 | -€308 | -21.7% |
| Recurring financial income | 75 | €1,425 | €1,116 | -€308 | -21.7% |
| Financial charges | 65/66B | €25,188 | €19,656 | -€5,532 | -22.0% |
| Recurring financial charges | 65 | €25,188 | €19,656 | -€5,532 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €88,795 | €123,387 | +€34,592 | +39.0% |
| Income taxes | 67/77 | €278 | €24,312 | +€24,033 | +8,632% |
| Profit (loss) for the period | 9904 | €88,517 | €99,075 | +€10,559 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €88,517 | €99,075 | +€10,559 | +11.9% |
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 13 October 2026 via checked.be.