Athena International: what changed
Athena International
Largest movements
- Receivables within one year -€56,333
down €56,333 (-56.0%), from €100,605 to €44,272
of which Trade receivables: -€57,160
- Cash +€17,907
up €17,907 (+15.6%), from €114,806 to €132,714
mainly Net result for the year (+€173,968) and Receivables within one year (+€56,333)
- Deferred charges and accrued income +€15,565
up €15,565 (+1,407%), from €1,107 to €16,671
- Tangible fixed assets +€5,942
up €5,942 (+35.8%), from €16,576 to €22,518
of which Other tangible fixed assets: +€7,791
- Tax, wage and social debts -€11,462
down €11,462 (-31.7%), from €36,173 to €24,711
of which Taxes: -€7,947
- Other debts -€5,524
down €5,524 (-3.0%), from €183,207 to €177,683
- Gross operating margin +€22,725
up €22,725 (+8.5%), from €268,322 to €291,047
- Taxes +€5,905
up €5,905 (+12.5%), from €47,307 to €53,212
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €233,094 | €216,174 | -€16,919 | -7.3% |
| Fixed assets | 21/28 | €16,576 | €22,518 | +€5,942 | +35.8% |
| Tangible fixed assets | 22/27 | €16,576 | €22,518 | +€5,942 | +35.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €11,831 | €9,981 | -€1,850 | -15.6% |
| Other tangible fixed assets | 26 | €4,745 | €12,537 | +€7,791 | +164% |
| Current assets | 29/58 | €216,518 | €193,657 | -€22,861 | -10.6% |
| Amounts receivable within one year | 40/41 | €100,605 | €44,272 | -€56,333 | -56.0% |
| Trade receivables | 40 | €99,644 | €42,484 | -€57,160 | -57.4% |
| Other amounts receivable | 41 | €961 | €1,788 | +€827 | +86.1% |
| Cash at bank and in hand | 54/58 | €114,806 | €132,714 | +€17,907 | +15.6% |
| Deferred charges and accrued income | 490/1 | €1,107 | €16,671 | +€15,565 | +1,407% |
| Total equity and liabilities | 10/49 | €233,094 | €216,174 | -€16,919 | -7.3% |
| Equity | 10/15 | €9,642 | €8,610 | -€1,032 | -10.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,642 | €3,610 | -€1,032 | -22.2% |
| Amounts payable | 17/49 | €223,452 | €207,565 | -€15,887 | -7.1% |
| Amounts payable within one year | 42/48 | €222,452 | €206,166 | -€16,286 | -7.3% |
| Trade debts | 44 | €3,072 | €3,772 | +€701 | +22.8% |
| Suppliers | 440/4 | €3,072 | €3,772 | +€701 | +22.8% |
| Taxes, remuneration and social security | 45 | €36,173 | €24,711 | -€11,462 | -31.7% |
| Taxes | 450/3 | €18,590 | €10,644 | -€7,947 | -42.7% |
| Remuneration and social security | 454/9 | €17,582 | €14,067 | -€3,515 | -20.0% |
| Other amounts payable | 47/48 | €183,207 | €177,683 | -€5,524 | -3.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,399 | +€399 | +39.9% |
| Remuneration, social security and pensions | 62 | €57,520 | €57,837 | +€317 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,854 | €3,133 | -€721 | -18.7% |
| Other operating charges | 640/8 | €1,221 | €1,328 | +€107 | +8.7% |
| Gross operating margin | 9900 | €268,322 | €291,047 | +€22,725 | +8.5% |
| Operating profit (loss) | 9901 | €205,728 | €228,749 | +€23,022 | +11.2% |
| Financial charges | 65/66B | €2,717 | €1,569 | -€1,148 | -42.2% |
| Recurring financial charges | 65 | €2,717 | €1,569 | -€1,148 | -42.2% |
| Profit (loss) for the period before taxes | 9903 | €203,010 | €227,180 | +€24,170 | +11.9% |
| Income taxes | 67/77 | €47,307 | €53,212 | +€5,905 | +12.5% |
| Profit (loss) for the period | 9904 | €155,703 | €173,968 | +€18,264 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €155,703 | €173,968 | +€18,264 | +11.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.