ATREE: 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.
What changed
ATREE
NACE 33.200, Installation of industrial machinery and equipment
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€798,516
2024 · €800,000-€1,484
Equity
€845,799
2024 · €1.5m-€618,111
Cash
€148,216
2024 · €359,854-€211,638
Balance sheet total
€5.7m
2024 · €6.2m-€564,627
Largest movements
Assets
- Intangible fixed assets -€1.8m
down €1.8m (-99.9%), from €1.8m to €1,236
- Receivables within one year +€1.4m
up €1.4m (+68.1%), from €2.0m to €3.4m
of which Trade receivables: +€1.1m
- Receivables after one year -€582,545
no longer reported in 2025 (was €582,545)
- Stocks and contracts +€311,565
up €311,565 (+24.9%), from €1.3m to €1.6m
of which Contracts in progress: +€264,609
- Financial fixed assets +€280,758
new in 2025: €280,758
Equity and liabilities
- Advances received +€626,657
up €626,657 (+212.2%), from €295,297 to €921,954
- Reserves -€604,003
down €604,003 (-51.3%), from €1.2m to €572,316
of which Distributable reserves: -€584,746
- Short-term financial debts -€279,352
down €279,352 (-58.3%), from €479,352 to €200,000
- Trade debts -€278,626
down €278,626 (-14.3%), from €1.9m to €1.7m
- Investment grants -€153,074
down €153,074 (-56.9%), from €268,992 to €115,918
Income statement
- Gross operating margin -€204,592
down €204,592 (-5.6%), from €3.6m to €3.4m
- Depreciation -€143,226
down €143,226 (-69.4%), from €206,435 to €63,209
- Staff costs -€64,257
down €64,257 (-2.7%), from €2.4m to €2.3m
- Financial income -€47,670
down €47,670 (-66.3%), from €71,896 to €24,226
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.
Result 2024
€800,000
Gross operating margin
-€204,592
Staff costs
+€64,257
Depreciation
+€143,226
Other operating charges
-€3,079
Financial income
-€47,670
Financial charges
+€16,196
Taxes
+€30,178
Result 2025
€798,516
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.
From operations
-€117,342
Investment
+€1.4m
Financing
-€1.5m
Cash 2024
€359,854
From operations (derived)
-€117,342
Net result for the year
+€798,516
Depreciation
+€63,209
Receivables after one year
+€582,545
Stocks and contracts
-€311,565
Receivables within one year
-€1.4m
Deferred charges and accrued income
-€6,951
Trade debts
-€278,626
Tax, wage and social debts
-€64,243
Advances received
+€626,657
Other debts
-€142,012
Accrued charges and deferred income
-€14,208
Investment (derived)
+€1.4m
Investment in fixed assets (net)
+€1.4m
Financing
-€1.5m
Debts after one year
+€112,106
Current portion of long-term debt
+€93,162
Short-term financial debts
-€279,352
Contributions, distributions and other
-€1.4m
Cash 2025
€148,216
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,231,578 | €5,666,951 | -€564,627 | -9.1% |
| Fixed assets | 21/28 | €1,981,368 | €521,744 | -€1.5m | -73.7% |
| Intangible fixed assets | 21 | €1,753,055 | €1,236 | -€1.8m | -99.9% |
| Tangible fixed assets | 22/27 | €228,313 | €239,750 | +€11,437 | +5.0% |
| Plant, machinery and equipment | 23 | €41,286 | €35,703 | -€5,583 | -13.5% |
| Furniture and vehicles | 24 | €110,301 | €149,840 | +€39,539 | +35.8% |
| Leasing and similar rights | 25 | €70,420 | €47,145 | -€23,275 | -33.1% |
| Other tangible fixed assets | 26 | €6,307 | €7,062 | +€756 | +12.0% |
| Financial fixed assets | 28 | - | €280,758 | +€280,758 | |
| Current assets | 29/58 | €4,250,210 | €5,145,207 | +€894,997 | +21.1% |
| Amounts receivable after more than one year | 29 | €582,545 | - | -€582,545 | |
| Other amounts receivable | 291 | €582,545 | - | -€582,545 | |
| Stocks and contracts in progress | 3 | €1,253,545 | €1,565,109 | +€311,565 | +24.9% |
| Stocks | 30/36 | €849,342 | €896,297 | +€46,956 | +5.5% |
| Contracts in progress | 37 | €404,203 | €668,812 | +€264,609 | +65.5% |
| Amounts receivable within one year | 40/41 | €2,011,343 | €3,382,007 | +€1.4m | +68.1% |
| Trade receivables | 40 | €1,882,091 | €3,015,849 | +€1.1m | +60.2% |
| Other amounts receivable | 41 | €129,253 | €366,159 | +€236,906 | +183.3% |
| Cash at bank and in hand | 54/58 | €359,854 | €148,216 | -€211,638 | -58.8% |
| Deferred charges and accrued income | 490/1 | €42,923 | €49,874 | +€6,951 | +16.2% |
| Total equity and liabilities | 10/49 | €6,231,578 | €5,666,951 | -€564,627 | -9.1% |
| Equity | 10/15 | €1,463,910 | €845,799 | -€618,111 | -42.2% |
| Contributions | 10/11 | €18,600 | €9,050 | -€9,551 | -51.3% |
| Reserves | 13 | €1,176,318 | €572,316 | -€604,003 | -51.3% |
| Tax-exempt reserves | 132 | €37,500 | €18,244 | -€19,256 | -51.4% |
| Distributable reserves | 133 | €1,138,818 | €554,072 | -€584,746 | -51.3% |
| Profit (loss) carried forward | 14 | - | €148,516 | +€148,516 | |
| Investment grants | 15 | €268,992 | €115,918 | -€153,074 | -56.9% |
| Amounts payable | 17/49 | €4,767,668 | €4,821,152 | +€53,484 | +1.1% |
| Amounts payable after more than one year | 17 | €319,937 | €432,043 | +€112,106 | +35.0% |
| Financial debts | 170/4 | €76,743 | €432,043 | +€355,299 | +463.0% |
| Other amounts payable | 178/9 | €243,193 | - | -€243,193 | |
| Amounts payable within one year | 42/48 | €4,428,023 | €4,383,609 | -€44,413 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €28,467 | €121,629 | +€93,162 | +327.3% |
| Financial debts | 43 | €479,352 | €200,000 | -€279,352 | -58.3% |
| Credit institutions | 430/8 | €479,352 | €200,000 | -€279,352 | -58.3% |
| Trade debts | 44 | €1,945,071 | €1,666,446 | -€278,626 | -14.3% |
| Suppliers | 440/4 | €1,945,071 | €1,666,446 | -€278,626 | -14.3% |
| Advances received on contracts in progress | 46 | €295,297 | €921,954 | +€626,657 | +212.2% |
| Taxes, remuneration and social security | 45 | €617,434 | €553,191 | -€64,243 | -10.4% |
| Taxes | 450/3 | €342,713 | €252,769 | -€89,944 | -26.2% |
| Remuneration and social security | 454/9 | €274,721 | €300,422 | +€25,701 | +9.4% |
| Other amounts payable | 47/48 | €1,062,402 | €920,390 | -€142,012 | -13.4% |
| Accrued charges and deferred income | 492/3 | €19,708 | €5,500 | -€14,208 | -72.1% |
| Non-recurring operating income | 76A | - | €2,333 | +€2,333 | |
| Remuneration, social security and pensions | 62 | €2,375,212 | €2,310,956 | -€64,257 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,435 | €63,209 | -€143,226 | -69.4% |
| Other operating charges | 640/8 | €9,484 | €12,563 | +€3,079 | +32.5% |
| Gross operating margin | 9900 | €3,638,502 | €3,433,910 | -€204,592 | -5.6% |
| Operating profit (loss) | 9901 | €1,047,370 | €1,047,182 | -€188 | 0.0% |
| Financial income | 75/76B | €71,896 | €24,226 | -€47,670 | -66.3% |
| Recurring financial income | 75 | €71,896 | €24,226 | -€47,670 | -66.3% |
| Financial charges | 65/66B | €67,399 | €51,204 | -€16,196 | -24.0% |
| Recurring financial charges | 65 | €67,399 | €51,204 | -€16,196 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €1,051,867 | €1,020,204 | -€31,663 | -3.0% |
| Income taxes | 67/77 | €251,867 | €221,689 | -€30,178 | -12.0% |
| Profit (loss) for the period | 9904 | €800,000 | €798,516 | -€1,484 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €800,000 | €798,516 | -€1,484 | -0.2% |
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 12 October 2026 via checked.be.