ATHAMAS: 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.
ATHAMAS
Largest movements
- Cash -€60,490
down €60,490 (-74.7%), from €81,005 to €20,515
mainly Net result for the year (-€46,573) and Current portion of long-term debt (-€26,817)
- Tangible fixed assets -€19,559
down €19,559 (-8.6%), from €227,279 to €207,720
of which Land and buildings: -€19,347
- Receivables within one year +€6,659
up €6,659 (+13.7%), from €48,728 to €55,387
- Profit (loss) carried forward -€46,573
down €46,573 (-23.7%), from -€196,845 to -€243,418
- Current portion of long-term debt -€26,817
no longer reported in 2025 (was €26,817)
- Gross operating margin -€193,935
down €193,935, from €172,875 to -€21,060
- Depreciation -€18,053
down €18,053 (-48.0%), from €37,613 to €19,560
- Other operating charges -€17,958
down €17,958 (-87.1%), from €20,607 to €2,649
- Financial charges -€1,996
down €1,996 (-97.3%), from €2,051 to €55
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 | €357,012 | €283,622 | -€73,390 | -20.6% |
| Fixed assets | 21/28 | €227,279 | €207,720 | -€19,559 | -8.6% |
| Tangible fixed assets | 22/27 | €227,279 | €207,720 | -€19,559 | -8.6% |
| Land and buildings | 22 | €226,481 | €207,134 | -€19,347 | -8.5% |
| Furniture and vehicles | 24 | €798 | €586 | -€212 | -26.6% |
| Current assets | 29/58 | €129,733 | €75,902 | -€53,831 | -41.5% |
| Amounts receivable within one year | 40/41 | €48,728 | €55,387 | +€6,659 | +13.7% |
| Other amounts receivable | 41 | €48,728 | €55,387 | +€6,659 | +13.7% |
| Cash at bank and in hand | 54/58 | €81,005 | €20,515 | -€60,490 | -74.7% |
| Total equity and liabilities | 10/49 | €357,012 | €283,622 | -€73,390 | -20.6% |
| Equity | 10/15 | €187,287 | €140,714 | -€46,573 | -24.9% |
| Contributions | 10/11 | €338,375 | €338,375 | = | 0.0% |
| Capital | 10 | €338,375 | €338,375 | = | 0.0% |
| Issued capital | 100 | €338,375 | €338,375 | = | 0.0% |
| Reserves | 13 | €45,757 | €45,757 | = | 0.0% |
| Non-distributable reserves | 130/1 | €229 | €229 | = | 0.0% |
| Legal reserve | 130 | €229 | €229 | = | 0.0% |
| Tax-exempt reserves | 132 | €45,528 | €45,528 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€196,845 | -€243,418 | -€46,573 | -23.7% |
| Provisions and deferred taxes | 16 | €29,616 | €29,616 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €29,616 | €29,616 | = | 0.0% |
| Taxes | 161 | €29,616 | €29,616 | = | 0.0% |
| Amounts payable | 17/49 | €140,109 | €113,292 | -€26,817 | -19.1% |
| Amounts payable after more than one year | 17 | €113,292 | €113,292 | = | 0.0% |
| Financial debts | 170/4 | €113,292 | €113,292 | = | 0.0% |
| Amounts payable within one year | 42/48 | €26,817 | - | -€26,817 | |
| Current portion of amounts payable after more than one year | 42 | €26,817 | - | -€26,817 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,613 | €19,560 | -€18,053 | -48.0% |
| Other operating charges | 640/8 | €20,607 | €2,649 | -€17,958 | -87.1% |
| Non-recurring operating charges | 66A | €132,080 | - | -€132,080 | |
| Gross operating margin | 9900 | €172,875 | -€21,060 | -€193,935 | |
| Operating profit (loss) | 9901 | -€17,425 | -€43,269 | -€25,844 | -148.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,051 | €55 | -€1,996 | -97.3% |
| Recurring financial charges | 65 | €2,051 | €55 | -€1,996 | -97.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,476 | -€43,323 | -€23,847 | -122.4% |
| Income taxes | 67/77 | €3,559 | €3,250 | -€309 | -8.7% |
| Profit (loss) for the period | 9904 | -€23,035 | -€46,573 | -€23,538 | -102.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,035 | -€46,573 | -€23,538 | -102.2% |
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.