ATHENACO: 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.
ATHENACO
Largest movements
- Current investments +€100,000
up €100,000, from €0 to €100,000
- Cash -€75,764
down €75,764 (-57.9%), from €130,740 to €54,976
mainly Current investments (-€100,000) and Trade debts (-€385)
- Receivables within one year -€15,672
down €15,672 (-98.2%), from €15,966 to €294
of which Trade receivables: -€14,603
- Tangible fixed assets -€2,793
down €2,793 (-41.8%), from €6,679 to €3,886
of which Furniture and vehicles: -€2,253
- Profit (loss) carried forward +€3,528
up €3,528 (+14.6%), from -€24,100 to -€20,572
- Other debts +€2,655
up €2,655 (+8.0%), from €33,062 to €35,717
- Gross operating margin +€3,030
up €3,030 (+47.3%), from €6,404 to €9,434
- Financial income -€1,947
down €1,947 (-100.0%), from €1,947 to €0
- Depreciation -€1,664
down €1,664 (-37.3%), from €4,457 to €2,793
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 | €153,417 | €159,189 | +€5,772 | +3.8% |
| Fixed assets | 21/28 | €6,679 | €3,886 | -€2,793 | -41.8% |
| Tangible fixed assets | 22/27 | €6,679 | €3,886 | -€2,793 | -41.8% |
| Plant, machinery and equipment | 23 | €849 | €309 | -€540 | -63.6% |
| Furniture and vehicles | 24 | €5,830 | €3,577 | -€2,253 | -38.6% |
| Current assets | 29/58 | €146,738 | €155,303 | +€8,565 | +5.8% |
| Amounts receivable within one year | 40/41 | €15,966 | €294 | -€15,672 | -98.2% |
| Trade receivables | 40 | €14,650 | €47 | -€14,603 | -99.7% |
| Other amounts receivable | 41 | €1,316 | €248 | -€1,068 | -81.2% |
| Current investments | 50/53 | €0 | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €130,740 | €54,976 | -€75,764 | -57.9% |
| Deferred charges and accrued income | 490/1 | €32 | €32 | = | 0.0% |
| Total equity and liabilities | 10/49 | €153,417 | €159,189 | +€5,772 | +3.8% |
| Equity | 10/15 | €118,844 | €122,372 | +€3,528 | +3.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €137,944 | €137,944 | = | 0.0% |
| Distributable reserves | 133 | €137,944 | €137,944 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,100 | -€20,572 | +€3,528 | +14.6% |
| Amounts payable | 17/49 | €34,573 | €36,817 | +€2,244 | +6.5% |
| Amounts payable within one year | 42/48 | €34,573 | €36,817 | +€2,244 | +6.5% |
| Trade debts | 44 | €726 | €341 | -€385 | -53.0% |
| Suppliers | 440/4 | €726 | €341 | -€385 | -53.0% |
| Taxes, remuneration and social security | 45 | €785 | €758 | -€27 | -3.4% |
| Taxes | 450/3 | €785 | €758 | -€27 | -3.4% |
| Other amounts payable | 47/48 | €33,062 | €35,717 | +€2,655 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,457 | €2,793 | -€1,664 | -37.3% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €6,404 | €9,434 | +€3,030 | +47.3% |
| Operating profit (loss) | 9901 | €1,442 | €6,122 | +€4,680 | +324.6% |
| Financial income | 75/76B | €1,947 | €0 | -€1,947 | -100.0% |
| Recurring financial income | 75 | €1,947 | €0 | -€1,947 | -100.0% |
| Financial charges | 65/66B | €2,626 | €2,594 | -€33 | -1.3% |
| Recurring financial charges | 65 | €2,626 | €2,594 | -€33 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €762 | €3,528 | +€2,766 | +362.8% |
| Profit (loss) for the period | 9904 | €762 | €3,528 | +€2,766 | +362.8% |
| Profit (loss) for the period to be appropriated | 9905 | €762 | €3,528 | +€2,766 | +362.8% |
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 2 October 2026 via checked.be.