ATO: 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.
ATO
Largest movements
- Tangible fixed assets -€52,317
down €52,317 (-11.8%), from €444,601 to €392,284
of which Plant, machinery and equipment: -€43,070
- Stocks and contracts +€10,415
up €10,415 (+2.4%), from €432,969 to €443,384
- Debts after one year -€32,717
down €32,717 (-22.7%), from €144,182 to €111,465
- Trade debts +€30,123
up €30,123 (+12.7%), from €236,875 to €266,998
- Other debts -€20,236
down €20,236 (-30.1%), from €67,144 to €46,908
- Current portion of long-term debt -€17,755
down €17,755 (-35.2%), from €50,472 to €32,717
- Gross operating margin -€23,226
down €23,226 (-8.8%), from €264,318 to €241,092
- Staff costs +€13,870
up €13,870 (+12.1%), from €115,012 to €128,882
- Taxes -€6,562
down €6,562 (-82.5%), from €7,954 to €1,392
- Depreciation -€4,008
down €4,008 (-6.3%), from €63,999 to €59,991
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 | €910,656 | €869,125 | -€41,530 | -4.6% |
| Fixed assets | 21/28 | €444,681 | €392,364 | -€52,317 | -11.8% |
| Tangible fixed assets | 22/27 | €444,601 | €392,284 | -€52,317 | -11.8% |
| Land and buildings | 22 | €159,337 | €152,881 | -€6,456 | -4.1% |
| Plant, machinery and equipment | 23 | €282,472 | €239,402 | -€43,070 | -15.2% |
| Furniture and vehicles | 24 | €2,792 | - | -€2,792 | |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €465,975 | €476,761 | +€10,787 | +2.3% |
| Stocks and contracts in progress | 3 | €432,969 | €443,384 | +€10,415 | +2.4% |
| Stocks | 30/36 | €432,969 | €443,384 | +€10,415 | +2.4% |
| Cash at bank and in hand | 54/58 | €5,866 | €5,745 | -€121 | -2.1% |
| Deferred charges and accrued income | 490/1 | €27,140 | €27,633 | +€493 | +1.8% |
| Total equity and liabilities | 10/49 | €910,656 | €869,125 | -€41,530 | -4.6% |
| Equity | 10/15 | €372,333 | €374,355 | +€2,022 | +0.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €358,929 | €367,355 | +€8,426 | +2.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €356,929 | €365,355 | +€8,426 | +2.4% |
| Profit (loss) carried forward | 14 | €6,404 | - | -€6,404 | |
| Amounts payable | 17/49 | €538,322 | €494,770 | -€43,552 | -8.1% |
| Amounts payable after more than one year | 17 | €144,182 | €111,465 | -€32,717 | -22.7% |
| Financial debts | 170/4 | €144,182 | €111,465 | -€32,717 | -22.7% |
| Amounts payable within one year | 42/48 | €393,790 | €382,955 | -€10,835 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €50,472 | €32,717 | -€17,755 | -35.2% |
| Trade debts | 44 | €236,875 | €266,998 | +€30,123 | +12.7% |
| Suppliers | 440/4 | €236,875 | €266,998 | +€30,123 | +12.7% |
| Taxes, remuneration and social security | 45 | €39,299 | €36,333 | -€2,966 | -7.5% |
| Taxes | 450/3 | €19,901 | €22,406 | +€2,505 | +12.6% |
| Remuneration and social security | 454/9 | €19,398 | €13,927 | -€5,471 | -28.2% |
| Other amounts payable | 47/48 | €67,144 | €46,908 | -€20,236 | -30.1% |
| Accrued charges and deferred income | 492/3 | €350 | €350 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €115,012 | €128,882 | +€13,870 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,999 | €59,991 | -€4,008 | -6.3% |
| Other operating charges | 640/8 | €38,288 | €36,961 | -€1,326 | -3.5% |
| Gross operating margin | 9900 | €264,318 | €241,092 | -€23,226 | -8.8% |
| Operating profit (loss) | 9901 | €47,019 | €15,258 | -€31,761 | -67.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €14,439 | €11,844 | -€2,596 | -18.0% |
| Recurring financial charges | 65 | €14,439 | €11,844 | -€2,596 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €32,580 | €3,414 | -€29,166 | -89.5% |
| Income taxes | 67/77 | €7,954 | €1,392 | -€6,562 | -82.5% |
| Profit (loss) for the period | 9904 | €24,626 | €2,022 | -€22,604 | -91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,626 | €2,022 | -€22,604 | -91.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.