ATHANOR FINANCE: 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.
ATHANOR FINANCE
Largest movements
- Tangible fixed assets -€57,209
down €57,209 (-3.5%), from €1.6m to €1.6m
of which Land and buildings: -€55,960
- Reserves -€54,492
down €54,492 (-2.9%), from €1.8m to €1.8m
of which Tax-exempt reserves: -€32,283
- Other operating charges -€8,822
down €8,822 (-71.3%), from €12,376 to €3,554
- Gross operating margin -€4,671
down €4,671 (-61.3%), from -€7,615 to -€12,286
- Depreciation -€1,137
down €1,137 (-1.7%), from €66,455 to €65,318
- Taxes +€204
new in 2025: €204
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 | €2,661,334 | €2,579,474 | -€81,859 | -3.1% |
| Fixed assets | 21/28 | €2,352,600 | €2,295,391 | -€57,209 | -2.4% |
| Tangible fixed assets | 22/27 | €1,627,600 | €1,570,391 | -€57,209 | -3.5% |
| Land and buildings | 22 | €1,624,755 | €1,568,795 | -€55,960 | -3.4% |
| Furniture and vehicles | 24 | €2,845 | €1,597 | -€1,248 | -43.9% |
| Financial fixed assets | 28 | €725,000 | €725,000 | = | 0.0% |
| Current assets | 29/58 | €308,734 | €284,083 | -€24,651 | -8.0% |
| Amounts receivable within one year | 40/41 | €11,341 | €308 | -€11,033 | -97.3% |
| Trade receivables | 40 | €308 | €308 | = | 0.0% |
| Other amounts receivable | 41 | €11,033 | - | -€11,033 | |
| Cash at bank and in hand | 54/58 | €293,070 | €283,775 | -€9,295 | -3.2% |
| Deferred charges and accrued income | 490/1 | €4,323 | - | -€4,323 | |
| Total equity and liabilities | 10/49 | €2,661,334 | €2,579,474 | -€81,859 | -3.1% |
| Equity | 10/15 | €1,911,117 | €1,856,625 | -€54,492 | -2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,849,117 | €1,794,625 | -€54,492 | -2.9% |
| Non-distributable reserves | 130/1 | €53,250 | €53,250 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €47,050 | €47,050 | = | 0.0% |
| Tax-exempt reserves | 132 | €729,768 | €697,485 | -€32,283 | -4.4% |
| Distributable reserves | 133 | €1,066,099 | €1,043,889 | -€22,210 | -2.1% |
| Provisions and deferred taxes | 16 | €375,773 | €359,665 | -€16,108 | -4.3% |
| Deferred taxes | 168 | €375,773 | €359,665 | -€16,108 | -4.3% |
| Amounts payable | 17/49 | €374,443 | €363,184 | -€11,259 | -3.0% |
| Amounts payable within one year | 42/48 | €374,443 | €363,184 | -€11,259 | -3.0% |
| Trade debts | 44 | €4,495 | - | -€4,495 | |
| Suppliers | 440/4 | €4,495 | - | -€4,495 | |
| Other amounts payable | 47/48 | €369,948 | €363,184 | -€6,764 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,455 | €65,318 | -€1,137 | -1.7% |
| Other operating charges | 640/8 | €12,376 | €3,554 | -€8,822 | -71.3% |
| Gross operating margin | 9900 | -€7,615 | -€12,286 | -€4,671 | -61.3% |
| Operating profit (loss) | 9901 | -€86,447 | -€81,158 | +€5,289 | +6.1% |
| Financial income | 75/76B | €11,033 | €11,033 | = | 0.0% |
| Recurring financial income | 75 | €11,033 | €11,033 | = | 0.0% |
| Financial charges | 65/66B | €242 | €270 | +€28 | +11.7% |
| Recurring financial charges | 65 | €242 | €270 | +€28 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | -€75,656 | -€70,396 | +€5,260 | +7.0% |
| Transfer from deferred taxes | 780 | €16,108 | €16,108 | = | 0.0% |
| Income taxes | 67/77 | - | €204 | +€204 | |
| Profit (loss) for the period | 9904 | -€59,548 | -€54,492 | +€5,056 | +8.5% |
| Transfer from tax-exempt reserves | 789 | €31,283 | €32,283 | +€1,000 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,265 | -€22,210 | +€6,056 | +21.4% |
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 21 October 2026 via checked.be.