Atelier M: 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.
Atelier M
Largest movements
- Tangible fixed assets +€365,466
up €365,466 (+72.2%), from €505,947 to €871,412
of which Land and buildings: +€370,352
- Cash -€203,390
down €203,390 (-78.5%), from €259,243 to €55,853
mainly Investment in fixed assets (net) (-€392,200) and Debts after one year (-€15,109)
- Receivables within one year -€19,833
down €19,833 (-83.4%), from €23,785 to €3,952
of which Trade receivables: -€17,130
- Other debts +€151,771
up €151,771 (+39.6%), from €383,123 to €534,893
- Debts after one year -€15,109
down €15,109 (-4.9%), from €308,973 to €293,864
- Tax, wage and social debts +€13,260
new in 2025: €13,260
- Reserves +€11,121
up €11,121 (+14.0%), from €79,208 to €90,329
- Trade debts -€9,732
no longer reported in 2025 (was €9,732)
- Financial charges +€11,583
up €11,583 (+67.4%), from €17,191 to €28,774
- Depreciation +€10,037
up €10,037 (+60.1%), from €16,698 to €26,734
- Taxes -€5,167
down €5,167 (-58.2%), from €8,874 to €3,707
- Gross operating margin +€2,362
up €2,362 (+3.4%), from €70,172 to €72,534
- Other operating charges +€1,637
up €1,637 (+151%), from €1,083 to €2,721
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 | €804,486 | €950,956 | +€146,470 | +18.2% |
| Fixed assets | 21/28 | €505,947 | €871,412 | +€365,466 | +72.2% |
| Tangible fixed assets | 22/27 | €505,947 | €871,412 | +€365,466 | +72.2% |
| Land and buildings | 22 | €494,333 | €864,685 | +€370,352 | +74.9% |
| Plant, machinery and equipment | 23 | €6,252 | €3,019 | -€3,233 | -51.7% |
| Furniture and vehicles | 24 | €5,362 | €3,709 | -€1,653 | -30.8% |
| Current assets | 29/58 | €298,539 | €79,544 | -€218,995 | -73.4% |
| Stocks and contracts in progress | 3 | €15,511 | €17,761 | +€2,250 | +14.5% |
| Stocks | 30/36 | €15,511 | €17,761 | +€2,250 | +14.5% |
| Amounts receivable within one year | 40/41 | €23,785 | €3,952 | -€19,833 | -83.4% |
| Trade receivables | 40 | €19,789 | €2,659 | -€17,130 | -86.6% |
| Other amounts receivable | 41 | €3,996 | €1,293 | -€2,703 | -67.6% |
| Cash at bank and in hand | 54/58 | €259,243 | €55,853 | -€203,390 | -78.5% |
| Deferred charges and accrued income | 490/1 | - | €1,978 | +€1,978 | |
| Total equity and liabilities | 10/49 | €804,486 | €950,956 | +€146,470 | +18.2% |
| Equity | 10/15 | €82,708 | €93,829 | +€11,121 | +13.4% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €79,208 | €90,329 | +€11,121 | +14.0% |
| Distributable reserves | 133 | €79,208 | €90,329 | +€11,121 | +14.0% |
| Amounts payable | 17/49 | €721,778 | €857,127 | +€135,349 | +18.8% |
| Amounts payable after more than one year | 17 | €308,973 | €293,864 | -€15,109 | -4.9% |
| Financial debts | 170/4 | €308,973 | €293,864 | -€15,109 | -4.9% |
| Amounts payable within one year | 42/48 | €407,314 | €563,263 | +€155,949 | +38.3% |
| Current portion of amounts payable after more than one year | 42 | €14,460 | €15,109 | +€649 | +4.5% |
| Trade debts | 44 | €9,732 | - | -€9,732 | |
| Suppliers | 440/4 | €9,732 | - | -€9,732 | |
| Taxes, remuneration and social security | 45 | - | €13,260 | +€13,260 | |
| Taxes | 450/3 | - | €13,260 | +€13,260 | |
| Other amounts payable | 47/48 | €383,123 | €534,893 | +€151,771 | +39.6% |
| Accrued charges and deferred income | 492/3 | €5,490 | - | -€5,490 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,698 | €26,734 | +€10,037 | +60.1% |
| Other operating charges | 640/8 | €1,083 | €2,721 | +€1,637 | +151% |
| Gross operating margin | 9900 | €70,172 | €72,534 | +€2,362 | +3.4% |
| Operating profit (loss) | 9901 | €52,391 | €43,079 | -€9,312 | -17.8% |
| Financial income | 75/76B | €118 | €524 | +€405 | +343% |
| Recurring financial income | 75 | €118 | €524 | +€405 | +343% |
| Financial charges | 65/66B | €17,191 | €28,774 | +€11,583 | +67.4% |
| Recurring financial charges | 65 | €17,191 | €28,774 | +€11,583 | +67.4% |
| Profit (loss) for the period before taxes | 9903 | €35,317 | €14,828 | -€20,489 | -58.0% |
| Income taxes | 67/77 | €8,874 | €3,707 | -€5,167 | -58.2% |
| Profit (loss) for the period | 9904 | €26,443 | €11,121 | -€15,322 | -57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,443 | €11,121 | -€15,322 | -57.9% |
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 17 October 2026 via checked.be.