Athelas: 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.
Athelas
Largest movements
- Cash +€90,002
up €90,002 (+158.7%), from €56,700 to €146,702
mainly Net result for the year (+€66,855) and Debts after one year (+€33,663)
- Tangible fixed assets +€45,139
up €45,139 (+6492.9%), from €695 to €45,835
of which Furniture and vehicles: +€43,857
- Deferred charges and accrued income -€10,246
down €10,246 (-81.9%), from €12,506 to €2,260
- Profit (loss) carried forward +€66,855
up €66,855 (+132.0%), from €50,647 to €117,503
- Debts after one year +€33,663
new in 2025: €33,663
- Tax, wage and social debts +€17,649
up €17,649 (+136.5%), from €12,927 to €30,576
- Current portion of long-term debt +€10,233
new in 2025: €10,233
- Trade debts -€3,417
down €3,417 (-89.3%), from €3,826 to €409
- Gross operating margin +€33,385
up €33,385 (+52.5%), from €63,635 to €97,020
- Depreciation +€10,083
up €10,083 (+18402.6%), from €55 to €10,138
- Taxes +€4,946
up €4,946 (+38.6%), from €12,815 to €17,761
- Financial charges +€1,713
up €1,713 (+3437.4%), from €50 to €1,763
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 | €69,901 | €194,885 | +€124,984 | +178.8% |
| Fixed assets | 21/28 | €695 | €45,835 | +€45,139 | +6492.9% |
| Tangible fixed assets | 22/27 | €695 | €45,835 | +€45,139 | +6492.9% |
| Plant, machinery and equipment | 23 | €695 | €1,977 | +€1,282 | +184.4% |
| Furniture and vehicles | 24 | - | €43,857 | +€43,857 | |
| Current assets | 29/58 | €69,206 | €149,050 | +€79,844 | +115.4% |
| Amounts receivable within one year | 40/41 | - | €88 | +€88 | |
| Other amounts receivable | 41 | - | €88 | +€88 | |
| Cash at bank and in hand | 54/58 | €56,700 | €146,702 | +€90,002 | +158.7% |
| Deferred charges and accrued income | 490/1 | €12,506 | €2,260 | -€10,246 | -81.9% |
| Total equity and liabilities | 10/49 | €69,901 | €194,885 | +€124,984 | +178.8% |
| Equity | 10/15 | €53,147 | €120,003 | +€66,855 | +125.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,647 | €117,503 | +€66,855 | +132.0% |
| Amounts payable | 17/49 | €16,753 | €74,882 | +€58,129 | +347.0% |
| Amounts payable after more than one year | 17 | - | €33,663 | +€33,663 | |
| Financial debts | 170/4 | - | €33,663 | +€33,663 | |
| Amounts payable within one year | 42/48 | €16,753 | €41,219 | +€24,466 | +146.0% |
| Current portion of amounts payable after more than one year | 42 | - | €10,233 | +€10,233 | |
| Trade debts | 44 | €3,826 | €409 | -€3,417 | -89.3% |
| Suppliers | 440/4 | €3,826 | €409 | -€3,417 | -89.3% |
| Taxes, remuneration and social security | 45 | €12,927 | €30,576 | +€17,649 | +136.5% |
| Taxes | 450/3 | €12,927 | €30,576 | +€17,649 | +136.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55 | €10,138 | +€10,083 | +18402.6% |
| Other operating charges | 640/8 | - | €503 | +€503 | |
| Non-recurring operating charges | 66A | €69 | - | -€69 | |
| Gross operating margin | 9900 | €63,635 | €97,020 | +€33,385 | +52.5% |
| Operating profit (loss) | 9901 | €63,511 | €86,379 | +€22,868 | +36.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €50 | €1,763 | +€1,713 | +3437.4% |
| Recurring financial charges | 65 | €50 | €1,763 | +€1,713 | +3437.4% |
| Profit (loss) for the period before taxes | 9903 | €63,462 | €84,617 | +€21,154 | +33.3% |
| Income taxes | 67/77 | €12,815 | €17,761 | +€4,946 | +38.6% |
| Profit (loss) for the period | 9904 | €50,647 | €66,855 | +€16,208 | +32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,647 | €66,855 | +€16,208 | +32.0% |
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 5 October 2026 via checked.be.