ATHENAST: 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.
ATHENAST
Largest movements
- Cash -€74,527
down €74,527 (-74.4%), from €100,128 to €25,601
mainly Tax, wage and social debts (-€42,789) and Other debts (-€28,117)
- Tax, wage and social debts -€42,789
down €42,789 (-100.0%), from €42,789 to €0
- Other debts -€28,117
down €28,117 (-90.2%), from €31,179 to €3,062
- Depreciation -€5,405
down €5,405 (-69.7%), from €7,755 to €2,350
- Gross operating margin +€2,138
up €2,138 (+24.9%), from €8,598 to €10,736
- Financial charges -€1,806
down €1,806 (-47.4%), from €3,812 to €2,006
of which Financial charges: -€1,806
- Financial income -€1,598
no longer reported in 2025 (was €1,598)
of which Financial income: -€1,598
- Other operating charges -€189
down €189 (-3.0%), from €6,415 to €6,226
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 | €771,143 | €697,808 | -€73,335 | -9.5% |
| Fixed assets | 21/28 | €666,765 | €664,414 | -€2,351 | -0.4% |
| Tangible fixed assets | 22/27 | €666,765 | €664,414 | -€2,351 | -0.4% |
| Land and buildings | 22 | €666,765 | €664,414 | -€2,351 | -0.4% |
| Current assets | 29/58 | €104,378 | €33,394 | -€70,984 | -68.0% |
| Amounts receivable within one year | 40/41 | €1,595 | €4,944 | +€3,349 | +209.9% |
| Trade receivables | 40 | €1,595 | €175 | -€1,420 | -89.0% |
| Other amounts receivable | 41 | - | €4,769 | +€4,769 | |
| Cash at bank and in hand | 54/58 | €100,128 | €25,601 | -€74,527 | -74.4% |
| Deferred charges and accrued income | 490/1 | €2,655 | €2,849 | +€194 | +7.3% |
| Total equity and liabilities | 10/49 | €771,143 | €697,808 | -€73,335 | -9.5% |
| Equity | 10/15 | €694,890 | €694,231 | -€659 | -0.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | - | -€250,000 | |
| Issued capital | 100 | €250,000 | - | -€250,000 | |
| Reserves | 13 | €444,890 | €444,231 | -€659 | -0.1% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | - | -€25,000 | |
| Reserves not available under the articles | 1311 | - | €25,000 | +€25,000 | |
| Distributable reserves | 133 | €419,890 | €419,231 | -€659 | -0.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €76,253 | €3,577 | -€72,676 | -95.3% |
| Amounts payable within one year | 42/48 | €73,994 | €3,577 | -€70,417 | -95.2% |
| Trade debts | 44 | €26 | €515 | +€489 | +1868.7% |
| Suppliers | 440/4 | €26 | €515 | +€489 | +1868.7% |
| Taxes, remuneration and social security | 45 | €42,789 | €0 | -€42,789 | -100.0% |
| Taxes | 450/3 | €42,789 | €0 | -€42,789 | -100.0% |
| Other amounts payable | 47/48 | €31,179 | €3,062 | -€28,117 | -90.2% |
| Accrued charges and deferred income | 492/3 | €2,259 | - | -€2,259 | |
| Non-recurring operating income | 76A | €7,189 | - | -€7,189 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,755 | €2,350 | -€5,405 | -69.7% |
| Other operating charges | 640/8 | €6,415 | €6,226 | -€189 | -3.0% |
| Gross operating margin | 9900 | €8,598 | €10,736 | +€2,138 | +24.9% |
| Operating profit (loss) | 9901 | -€5,572 | €2,160 | +€7,732 | |
| Financial income | 75/76B | €1,598 | - | -€1,598 | |
| Recurring financial income | 75 | €1,598 | - | -€1,598 | |
| Non-recurring financial income | 76B | €1,598 | - | -€1,598 | |
| Financial charges | 65/66B | €3,812 | €2,006 | -€1,806 | -47.4% |
| Recurring financial charges | 65 | €3,749 | €1,943 | -€1,806 | -48.2% |
| Non-recurring financial charges | 66B | €63 | €63 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,786 | €154 | +€7,940 | |
| Income taxes | 67/77 | €638 | €813 | +€175 | +27.5% |
| Profit (loss) for the period | 9904 | -€8,424 | -€659 | +€7,765 | +92.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,424 | -€659 | +€7,765 | +92.2% |
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 4 October 2026 via checked.be.