ATREX: 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.
ATREX
Largest movements
- Stocks and contracts +€176,182
up €176,182 (+44.7%), from €394,078 to €570,260
- Tangible fixed assets -€119,769
down €119,769 (-18.6%), from €643,051 to €523,281
of which Furniture and vehicles: -€72,787
- Receivables within one year -€51,676
down €51,676 (-44.9%), from €115,152 to €63,475
of which Trade receivables: -€51,692
- Cash +€12,739
up €12,739 (+52.2%), from €24,420 to €37,159
mainly Depreciation (+€81,587) and Short-term financial debts (+€78,000)
- Short-term financial debts +€78,000
up €78,000 (+116%), from €67,000 to €145,000
- Debts after one year -€76,263
down €76,263 (-15.2%), from €503,156 to €426,893
- Other debts -€57,922
down €57,922 (-37.3%), from €155,205 to €97,283
- Profit (loss) carried forward +€52,145
up €52,145 (+47.5%), from -€109,765 to -€57,621
- Trade debts +€25,356
up €25,356 (+174%), from €14,545 to €39,901
- Staff costs -€25,121
down €25,121 (-16.4%), from €153,291 to €128,171
- Depreciation -€16,095
down €16,095 (-16.5%), from €97,682 to €81,587
- Financial charges +€10,090
up €10,090 (+75.3%), from €13,395 to €23,486
- Gross operating margin +€2,933
up €2,933 (+1.0%), from €290,262 to €293,194
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.
Derived cash bridge
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 | €1,236,886 | €1,259,235 | +€22,349 | +1.8% |
| Fixed assets | 21/28 | €643,906 | €524,146 | -€119,759 | -18.6% |
| Tangible fixed assets | 22/27 | €643,051 | €523,281 | -€119,769 | -18.6% |
| Land and buildings | 22 | €445,015 | €407,474 | -€37,541 | -8.4% |
| Plant, machinery and equipment | 23 | €56,102 | €46,661 | -€9,442 | -16.8% |
| Furniture and vehicles | 24 | €141,933 | €69,147 | -€72,787 | -51.3% |
| Financial fixed assets | 28 | €855 | €865 | +€10 | +1.2% |
| Current assets | 29/58 | €592,980 | €735,088 | +€142,108 | +24.0% |
| Amounts receivable after more than one year | 29 | €59,331 | €57,695 | -€1,635 | -2.8% |
| Other amounts receivable | 291 | €59,331 | €57,695 | -€1,635 | -2.8% |
| Stocks and contracts in progress | 3 | €394,078 | €570,260 | +€176,182 | +44.7% |
| Stocks | 30/36 | €394,078 | €570,260 | +€176,182 | +44.7% |
| Amounts receivable within one year | 40/41 | €115,152 | €63,475 | -€51,676 | -44.9% |
| Trade receivables | 40 | €114,550 | €62,858 | -€51,692 | -45.1% |
| Other amounts receivable | 41 | €601 | €617 | +€16 | +2.6% |
| Cash at bank and in hand | 54/58 | €24,420 | €37,159 | +€12,739 | +52.2% |
| Deferred charges and accrued income | 490/1 | €0 | €6,499 | +€6,499 | +32,494,200% |
| Total equity and liabilities | 10/49 | €1,236,886 | €1,259,235 | +€22,349 | +1.8% |
| Equity | 10/15 | €404,471 | €456,615 | +€52,145 | +12.9% |
| Contributions | 10/11 | €425,000 | €425,000 | = | 0.0% |
| Reserves | 13 | €89,236 | €89,236 | = | 0.0% |
| Tax-exempt reserves | 132 | €73,004 | €73,004 | = | 0.0% |
| Distributable reserves | 133 | €16,232 | €16,232 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,765 | -€57,621 | +€52,145 | +47.5% |
| Amounts payable | 17/49 | €832,415 | €802,619 | -€29,796 | -3.6% |
| Amounts payable after more than one year | 17 | €503,156 | €426,893 | -€76,263 | -15.2% |
| Financial debts | 170/4 | €503,156 | €426,893 | -€76,263 | -15.2% |
| Amounts payable within one year | 42/48 | €326,431 | €374,930 | +€48,499 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €58,206 | €46,266 | -€11,940 | -20.5% |
| Financial debts | 43 | €67,000 | €145,000 | +€78,000 | +116% |
| Credit institutions | 430/8 | €67,000 | €145,000 | +€78,000 | +116% |
| Trade debts | 44 | €14,545 | €39,901 | +€25,356 | +174% |
| Suppliers | 440/4 | €14,545 | €39,901 | +€25,356 | +174% |
| Taxes, remuneration and social security | 45 | €31,475 | €46,479 | +€15,005 | +47.7% |
| Taxes | 450/3 | €19,761 | €29,155 | +€9,394 | +47.5% |
| Remuneration and social security | 454/9 | €11,714 | €17,324 | +€5,610 | +47.9% |
| Other amounts payable | 47/48 | €155,205 | €97,283 | -€57,922 | -37.3% |
| Accrued charges and deferred income | 492/3 | €2,829 | €797 | -€2,032 | -71.8% |
| Non-recurring operating income | 76A | €42,095 | €16,521 | -€25,574 | -60.8% |
| Remuneration, social security and pensions | 62 | €153,291 | €128,171 | -€25,121 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,682 | €81,587 | -€16,095 | -16.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,210 | +€1,210 | |
| Other operating charges | 640/8 | €7,102 | €6,569 | -€533 | -7.5% |
| Non-recurring operating charges | 66A | €3,911 | - | -€3,911 | |
| Gross operating margin | 9900 | €290,262 | €293,194 | +€2,933 | +1.0% |
| Operating profit (loss) | 9901 | €28,275 | €75,658 | +€47,383 | +168% |
| Financial income | 75/76B | €144 | €8 | -€136 | -94.6% |
| Recurring financial income | 75 | €144 | €8 | -€136 | -94.6% |
| Financial charges | 65/66B | €13,395 | €23,486 | +€10,090 | +75.3% |
| Recurring financial charges | 65 | €13,395 | €23,486 | +€10,090 | +75.3% |
| Profit (loss) for the period before taxes | 9903 | €15,023 | €52,180 | +€37,156 | +247% |
| Income taxes | 67/77 | - | €35 | +€35 | |
| Profit (loss) for the period | 9904 | €15,023 | €52,145 | +€37,121 | +247% |
| Profit (loss) for the period to be appropriated | 9905 | €15,023 | €52,145 | +€37,121 | +247% |
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 14 October 2026 via checked.be.