ATHENA CONSULT: 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.
ATHENA CONSULT
Largest movements
- Cash +€48,953
up €48,953 (+78.8%), from €62,089 to €111,042
mainly Current investments (+€24,390) and Net result for the year (+€23,376)
- Current investments -€24,390
no longer reported in 2025 (was €24,390)
- Tangible fixed assets -€11,880
down €11,880 (-26.1%), from €45,446 to €33,566
of which Furniture and vehicles: -€12,396
- Receivables within one year -€8,013
down €8,013 (-22.6%), from €35,401 to €27,388
of which Trade receivables: -€10,505
- Reserves +€23,376
up €23,376 (+19.3%), from €121,393 to €144,769
- Debts after one year -€11,377
down €11,377 (-65.9%), from €17,253 to €5,876
- Other debts -€5,056
no longer reported in 2025 (was €5,056)
- Tax, wage and social debts -€2,847
down €2,847 (-32.6%), from €8,742 to €5,895
- Gross operating margin -€16,954
down €16,954 (-26.4%), from €64,336 to €47,382
- Financial income +€4,563
up €4,563 (+6,846%), from €67 to €4,630
- Taxes -€3,963
down €3,963 (-28.9%), from €13,688 to €9,726
- Financial charges +€748
up €748 (+25.6%), from €2,927 to €3,676
- Depreciation +€677
up €677 (+5.3%), from €12,829 to €13,506
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 | €168,945 | €173,661 | +€4,716 | +2.8% |
| Fixed assets | 21/28 | €45,446 | €33,566 | -€11,880 | -26.1% |
| Tangible fixed assets | 22/27 | €45,446 | €33,566 | -€11,880 | -26.1% |
| Plant, machinery and equipment | 23 | €1,927 | €2,443 | +€516 | +26.8% |
| Furniture and vehicles | 24 | €43,519 | €31,123 | -€12,396 | -28.5% |
| Current assets | 29/58 | €123,500 | €140,096 | +€16,596 | +13.4% |
| Amounts receivable within one year | 40/41 | €35,401 | €27,388 | -€8,013 | -22.6% |
| Trade receivables | 40 | €27,569 | €17,064 | -€10,505 | -38.1% |
| Other amounts receivable | 41 | €7,832 | €10,323 | +€2,492 | +31.8% |
| Current investments | 50/53 | €24,390 | - | -€24,390 | |
| Cash at bank and in hand | 54/58 | €62,089 | €111,042 | +€48,953 | +78.8% |
| Deferred charges and accrued income | 490/1 | €1,621 | €1,666 | +€46 | +2.8% |
| Total equity and liabilities | 10/49 | €168,945 | €173,661 | +€4,716 | +2.8% |
| Equity | 10/15 | €122,393 | €145,769 | +€23,376 | +19.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €121,393 | €144,769 | +€23,376 | +19.3% |
| Distributable reserves | 133 | €121,393 | €144,769 | +€23,376 | +19.3% |
| Amounts payable | 17/49 | €46,552 | €27,892 | -€18,660 | -40.1% |
| Amounts payable after more than one year | 17 | €17,253 | €5,876 | -€11,377 | -65.9% |
| Financial debts | 170/4 | €17,253 | €5,876 | -€11,377 | -65.9% |
| Amounts payable within one year | 42/48 | €27,799 | €20,516 | -€7,283 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €10,895 | €11,377 | +€482 | +4.4% |
| Trade debts | 44 | €3,106 | €3,244 | +€138 | +4.4% |
| Suppliers | 440/4 | €3,106 | €3,244 | +€138 | +4.4% |
| Taxes, remuneration and social security | 45 | €8,742 | €5,895 | -€2,847 | -32.6% |
| Taxes | 450/3 | €8,742 | €5,895 | -€2,847 | -32.6% |
| Other amounts payable | 47/48 | €5,056 | - | -€5,056 | |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,829 | €13,506 | +€677 | +5.3% |
| Other operating charges | 640/8 | €1,789 | €1,729 | -€61 | -3.4% |
| Gross operating margin | 9900 | €64,336 | €47,382 | -€16,954 | -26.4% |
| Operating profit (loss) | 9901 | €49,718 | €32,148 | -€17,570 | -35.3% |
| Financial income | 75/76B | €67 | €4,630 | +€4,563 | +6,846% |
| Recurring financial income | 75 | €67 | €4,630 | +€4,563 | +6,846% |
| Financial charges | 65/66B | €2,927 | €3,676 | +€748 | +25.6% |
| Recurring financial charges | 65 | €2,927 | €3,676 | +€748 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €46,857 | €33,101 | -€13,756 | -29.4% |
| Income taxes | 67/77 | €13,688 | €9,726 | -€3,963 | -28.9% |
| Profit (loss) for the period | 9904 | €33,169 | €23,376 | -€9,793 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,169 | €23,376 | -€9,793 | -29.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.