ATF: what changed
Two fiscal 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.
What changed
ATF
NACE 43.120, Site preparation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €1.1m+€300,138
Equity
€4.6m
2024 · €4.6m-€1,154
Cash
€1.1m
2024 · €1.5m-€399,258
Balance sheet total
€11.4m
2024 · €8.8m+€2.6m
Largest movements
Assets
- Receivables within one year +€1.9m
up €1.9m (+54.7%), from €3.5m to €5.4m
of which Trade receivables: +€1.9m
- Tangible fixed assets +€1.4m
up €1.4m (+83.3%), from €1.6m to €3.0m
of which Plant, machinery and equipment: +€1.4m
- Cash -€399,258
down €399,258 (-27.3%), from €1.5m to €1.1m
mainly Investment in fixed assets (net) (-€2.3m) and Receivables within one year (-€1.9m)
- Stocks and contracts -€343,125
down €343,125 (-16.7%), from €2.1m to €1.7m
Equity and liabilities
- Debts after one year +€1.2m
new in 2025: €1.2m
- Trade debts +€762,348
up €762,348 (+28.7%), from €2.7m to €3.4m
- Current portion of long-term debt +€326,573
new in 2025: €326,573
- Other debts +€300,655
up €300,655 (+26.3%), from €1.1m to €1.4m
Income statement
- Turnover +€2.7m
up €2.7m (+16.0%), from €16.9m to €19.6m
- Goods and materials +€1.1m
up €1.1m (+18.6%), from €5.8m to €6.8m
- Staff costs -€270,104
down €270,104 (-3.7%), from €7.3m to €7.1m
- Other operating income -€215,912
down €215,912 (-24.1%), from €894,616 to €678,704
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.
Result 2024
€1.1m
Turnover
+€2.7m
Other operating income
-€215,912
Goods and materials
-€1.1m
Services and other goods
+€95,758
Staff costs
+€270,104
Depreciation
-€193,799
Write-downs
-€83,650
Other operating charges
+€22,220
Other operating items
-€1.3m
Financial income
-€6,496
Financial charges
-€29,034
Taxes
+€75,159
Result 2025
€1.4m
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.
From operations
+€1.8m
Investment
-€2.3m
Financing
+€94,228
Cash 2024
€1.5m
From operations (derived)
+€1.8m
Net result for the year
+€1.4m
Depreciation
+€892,940
Stocks and contracts
+€343,125
Receivables within one year
-€1.9m
Deferred charges and accrued income
-€30,763
Trade debts
+€762,348
Tax, wage and social debts
-€35,611
Other debts
+€300,655
Accrued charges and deferred income
+€13,713
Investment (derived)
-€2.3m
Investment in fixed assets (net)
-€2.3m
Current investments
-€206
Financing
+€94,228
Debts after one year
+€1.2m
Current portion of long-term debt
+€326,573
Short-term financial debts
+€16,580
Contributions, distributions and other
-€1.4m
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,790,699 | €11,370,674 | +€2.6m | +29.3% |
| Fixed assets | 21/28 | €1,656,290 | €3,020,519 | +€1.4m | +82.4% |
| Tangible fixed assets | 22/27 | €1,638,015 | €3,002,514 | +€1.4m | +83.3% |
| Land and buildings | 22 | €70,603 | €39,004 | -€31,600 | -44.8% |
| Plant, machinery and equipment | 23 | €373,830 | €1,764,810 | +€1.4m | +372.1% |
| Furniture and vehicles | 24 | €815,589 | €781,882 | -€33,708 | -4.1% |
| Other tangible fixed assets | 26 | €377,992 | €416,818 | +€38,826 | +10.3% |
| Financial fixed assets | 28 | €18,275 | €18,005 | -€270 | -1.5% |
| Other financial fixed assets | 284/8 | €18,275 | €18,005 | -€270 | -1.5% |
| Shares | 284 | €12,500 | €12,500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5,775 | €5,505 | -€270 | -4.7% |
| Current assets | 29/58 | €7,134,409 | €8,350,154 | +€1.2m | +17.0% |
| Stocks and contracts in progress | 3 | €2,050,695 | €1,707,570 | -€343,125 | -16.7% |
| Contracts in progress | 37 | €2,050,695 | €1,707,570 | -€343,125 | -16.7% |
| Amounts receivable within one year | 40/41 | €3,520,564 | €5,447,724 | +€1.9m | +54.7% |
| Trade receivables | 40 | €3,119,569 | €5,020,816 | +€1.9m | +60.9% |
| Other amounts receivable | 41 | €400,995 | €426,908 | +€25,913 | +6.5% |
| Current investments | 50/53 | €30,146 | €30,352 | +€206 | +0.7% |
| Other investments | 51/53 | €30,146 | €30,352 | +€206 | +0.7% |
| Cash at bank and in hand | 54/58 | €1,461,701 | €1,062,443 | -€399,258 | -27.3% |
| Deferred charges and accrued income | 490/1 | €71,303 | €102,066 | +€30,763 | +43.1% |
| Total equity and liabilities | 10/49 | €8,790,699 | €11,370,674 | +€2.6m | +29.3% |
| Equity | 10/15 | €4,556,970 | €4,555,816 | -€1,154 | 0.0% |
| Contributions | 10/11 | €719,979 | €719,979 | = | 0.0% |
| Capital | 10 | €95,000 | €95,000 | = | 0.0% |
| Issued capital | 100 | €95,000 | €95,000 | = | 0.0% |
| Outside capital | 11 | €624,979 | €624,979 | = | 0.0% |
| Share premium | 1100/10 | €624,979 | €624,979 | = | 0.0% |
| Reserves | 13 | €3,835,101 | €3,835,101 | = | 0.0% |
| Non-distributable reserves | 130/1 | €83,868 | €83,868 | = | 0.0% |
| Legal reserve | 130 | €9,500 | €9,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €74,368 | €74,368 | = | 0.0% |
| Tax-exempt reserves | 132 | €393,515 | €393,515 | = | 0.0% |
| Distributable reserves | 133 | €3,357,718 | €3,357,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,889 | €736 | -€1,154 | -61.1% |
| Amounts payable | 17/49 | €4,233,729 | €6,814,857 | +€2.6m | +61.0% |
| Amounts payable after more than one year | 17 | - | €1,196,870 | +€1.2m | |
| Financial debts | 170/4 | - | €1,196,870 | +€1.2m | |
| Credit institutions | 173 | - | €1,196,870 | +€1.2m | |
| Amounts payable within one year | 42/48 | €4,233,729 | €5,604,274 | +€1.4m | +32.4% |
| Current portion of amounts payable after more than one year | 42 | - | €326,573 | +€326,573 | |
| Financial debts | 43 | - | €16,580 | +€16,580 | |
| Credit institutions | 430/8 | - | €16,580 | +€16,580 | |
| Trade debts | 44 | €2,654,416 | €3,416,764 | +€762,348 | +28.7% |
| Suppliers | 440/4 | €2,654,416 | €3,416,764 | +€762,348 | +28.7% |
| Taxes, remuneration and social security | 45 | €434,173 | €398,562 | -€35,611 | -8.2% |
| Taxes | 450/3 | €66,477 | €50,029 | -€16,448 | -24.7% |
| Remuneration and social security | 454/9 | €367,696 | €348,533 | -€19,163 | -5.2% |
| Other amounts payable | 47/48 | €1,145,140 | €1,445,795 | +€300,655 | +26.3% |
| Accrued charges and deferred income | 492/3 | - | €13,713 | +€13,713 | |
| Operating income | 70/76A | €18,780,402 | €20,004,986 | +€1.2m | +6.5% |
| Turnover | 70 | €16,888,053 | €19,584,150 | +€2.7m | +16.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €642,259 | -€343,125 | -€985,384 | |
| Other operating income | 74 | €894,616 | €678,704 | -€215,912 | -24.1% |
| Non-recurring operating income | 76A | €355,473 | €85,258 | -€270,215 | -76.0% |
| Operating charges | 60/66A | €17,408,226 | €18,372,302 | +€964,075 | +5.5% |
| Goods for resale, raw materials and consumables | 60 | €5,758,076 | €6,831,886 | +€1.1m | +18.6% |
| Purchases | 600/8 | €5,758,076 | €6,831,886 | +€1.1m | +18.6% |
| Services and other goods | 61 | €3,604,623 | €3,508,865 | -€95,758 | -2.7% |
| Remuneration, social security and pensions | 62 | €7,322,605 | €7,052,501 | -€270,104 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €699,141 | €892,940 | +€193,799 | +27.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€91,589 | -€7,939 | +€83,650 | +91.3% |
| Other operating charges | 640/8 | €114,747 | €92,527 | -€22,220 | -19.4% |
| Non-recurring operating charges | 66A | €621 | €1,521 | +€899 | +144.7% |
| Operating profit (loss) | 9901 | €1,372,175 | €1,632,685 | +€260,509 | +19.0% |
| Financial income | 75/76B | €19,772 | €13,276 | -€6,496 | -32.9% |
| Recurring financial income | 75 | €19,772 | €13,276 | -€6,496 | -32.9% |
| Income from current assets | 751 | €8,850 | €12,739 | +€3,889 | +43.9% |
| Other financial income | 752/9 | €10,923 | €537 | -€10,386 | -95.1% |
| Financial charges | 65/66B | €17,191 | €46,225 | +€29,034 | +168.9% |
| Recurring financial charges | 65 | €17,191 | €46,225 | +€29,034 | +168.9% |
| Debt charges | 650 | €3,165 | €30,853 | +€27,688 | +874.7% |
| Other financial charges | 652/9 | €14,026 | €15,372 | +€1,346 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €1,374,757 | €1,599,736 | +€224,979 | +16.4% |
| Income taxes | 67/77 | €230,253 | €155,094 | -€75,159 | -32.6% |
| Taxes | 670/3 | €230,253 | €155,094 | -€75,159 | -32.6% |
| Profit (loss) for the period | 9904 | €1,144,503 | €1,444,641 | +€300,138 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,144,503 | €1,444,641 | +€300,138 | +26.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.