ATHEXIS: 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.
ATHEXIS
Largest movements
- Receivables within one year +€8,261
up €8,261 (+39.2%), from €21,049 to €29,310
of which Other amounts receivable: +€6,706
- Tangible fixed assets -€7,505
down €7,505 (-29.1%), from €25,824 to €18,319
- Cash -€4,120
down €4,120 (-31.3%), from €13,158 to €9,039
mainly Contributions, distributions and other (-€25,500) and Tax, wage and social debts (-€9,302)
- Other debts +€21,015
up €21,015 (+219.7%), from €9,567 to €30,582
- Tax, wage and social debts -€9,302
down €9,302 (-65.4%), from €14,225 to €4,923
of which Taxes: -€5,999
- Debts after one year -€6,692
down €6,692 (-17.0%), from €39,458 to €32,766
- Current portion of long-term debt -€5,033
down €5,033 (-42.9%), from €11,725 to €6,692
- Reserves -€3,500
down €3,500 (-4.9%), from €70,860 to €67,360
of which Distributable reserves: -€3,500
- Gross operating margin -€43,430
down €43,430 (-38.1%), from €114,012 to €70,582
- Taxes -€10,154
down €10,154 (-49.0%), from €20,733 to €10,579
- Staff costs -€2,216
down €2,216 (-7.5%), from €29,484 to €27,267
- Financial charges -€1,472
down €1,472 (-49.6%), from €2,966 to €1,494
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 | €175,789 | €173,642 | -€2,147 | -1.2% |
| Fixed assets | 21/28 | €141,448 | €133,945 | -€7,503 | -5.3% |
| Tangible fixed assets | 22/27 | €25,824 | €18,319 | -€7,505 | -29.1% |
| Furniture and vehicles | 24 | €25,824 | €18,319 | -€7,505 | -29.1% |
| Financial fixed assets | 28 | €115,624 | €115,626 | +€2 | 0.0% |
| Current assets | 29/58 | €34,341 | €39,697 | +€5,356 | +15.6% |
| Amounts receivable within one year | 40/41 | €21,049 | €29,310 | +€8,261 | +39.2% |
| Trade receivables | 40 | €21,049 | €22,604 | +€1,554 | +7.4% |
| Other amounts receivable | 41 | - | €6,706 | +€6,706 | |
| Cash at bank and in hand | 54/58 | €13,158 | €9,039 | -€4,120 | -31.3% |
| Deferred charges and accrued income | 490/1 | €134 | €1,348 | +€1,215 | +909.4% |
| Total equity and liabilities | 10/49 | €175,789 | €173,642 | -€2,147 | -1.2% |
| Equity | 10/15 | €94,858 | €92,345 | -€2,513 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,860 | €67,360 | -€3,500 | -4.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €69,000 | €65,500 | -€3,500 | -5.1% |
| Profit (loss) carried forward | 14 | €5,398 | €6,385 | +€987 | +18.3% |
| Amounts payable | 17/49 | €80,931 | €81,297 | +€366 | +0.5% |
| Amounts payable after more than one year | 17 | €39,458 | €32,766 | -€6,692 | -17.0% |
| Financial debts | 170/4 | €39,458 | €32,766 | -€6,692 | -17.0% |
| Amounts payable within one year | 42/48 | €41,473 | €48,529 | +€7,056 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €11,725 | €6,692 | -€5,033 | -42.9% |
| Trade debts | 44 | €5,955 | €6,331 | +€376 | +6.3% |
| Suppliers | 440/4 | €5,625 | €6,331 | +€707 | +12.6% |
| Bills of exchange payable | 441 | €330 | - | -€330 | |
| Taxes, remuneration and social security | 45 | €14,225 | €4,923 | -€9,302 | -65.4% |
| Taxes | 450/3 | €10,923 | €4,923 | -€5,999 | -54.9% |
| Remuneration and social security | 454/9 | €3,303 | - | -€3,303 | |
| Other amounts payable | 47/48 | €9,567 | €30,582 | +€21,015 | +219.7% |
| Accrued charges and deferred income | 492/3 | - | €2 | +€2 | |
| Remuneration, social security and pensions | 62 | €29,484 | €27,267 | -€2,216 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,505 | €7,505 | = | 0.0% |
| Other operating charges | 640/8 | €645 | €799 | +€154 | +23.9% |
| Gross operating margin | 9900 | €114,012 | €70,582 | -€43,430 | -38.1% |
| Operating profit (loss) | 9901 | €76,378 | €35,010 | -€41,368 | -54.2% |
| Financial income | 75/76B | €51 | €50 | -€1 | -2.4% |
| Recurring financial income | 75 | €51 | €50 | -€1 | -2.4% |
| Financial charges | 65/66B | €2,966 | €1,494 | -€1,472 | -49.6% |
| Recurring financial charges | 65 | €2,966 | €1,494 | -€1,472 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €73,464 | €33,566 | -€39,897 | -54.3% |
| Income taxes | 67/77 | €20,733 | €10,579 | -€10,154 | -49.0% |
| Profit (loss) for the period | 9904 | €52,731 | €22,987 | -€29,743 | -56.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,731 | €22,987 | -€29,743 | -56.4% |
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 6 October 2026 via checked.be.