ATVH: what changed
ATVH
Largest movements
- Stocks and contracts +€230,716
up €230,716 (+2,608%), from €8,846 to €239,562
of which Stocks: +€205,716
- Tangible fixed assets -€18,673
down €18,673 (-57.3%), from €32,590 to €13,917
of which Leasing and similar rights: -€14,833
- Receivables within one year +€13,839
up €13,839 (+13.4%), from €103,156 to €116,995
of which Other amounts receivable: +€37,622
- Cash +€9,815
up €9,815 (+30.6%), from €32,075 to €41,890
mainly Trade debts (+€206,421) and Debts after one year (+€40,000)
- Trade debts +€206,421
up €206,421 (+1,601%), from €12,890 to €219,311
- Debts after one year +€40,000
new in 2025: €40,000
- Reserves +€20,364
up €20,364 (+16.4%), from €124,344 to €144,708
- Current portion of long-term debt -€14,076
no longer reported in 2025 (was €14,076)
- Advances received -€8,239
no longer reported in 2025 (was €8,239)
- Gross operating margin -€13,320
down €13,320 (-8.4%), from €157,958 to €144,638
- Taxes -€9,044
down €9,044 (-58.6%), from €15,439 to €6,395
- Staff costs +€7,170
up €7,170 (+9.1%), from €78,417 to €85,587
- Financial charges +€6,015
up €6,015 (+571%), from €1,053 to €7,068
- Depreciation -€2,110
down €2,110 (-8.6%), from €24,599 to €22,489
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €189,687 | €426,692 | +€237,005 | +125% |
| Fixed assets | 21/28 | €36,300 | €17,627 | -€18,673 | -51.4% |
| Tangible fixed assets | 22/27 | €32,590 | €13,917 | -€18,673 | -57.3% |
| Plant, machinery and equipment | 23 | €14,048 | €11,649 | -€2,399 | -17.1% |
| Furniture and vehicles | 24 | €3,709 | €2,268 | -€1,441 | -38.9% |
| Leasing and similar rights | 25 | €14,833 | - | -€14,833 | |
| Financial fixed assets | 28 | €3,710 | €3,710 | = | 0.0% |
| Current assets | 29/58 | €153,387 | €409,065 | +€255,678 | +167% |
| Stocks and contracts in progress | 3 | €8,846 | €239,562 | +€230,716 | +2,608% |
| Stocks | 30/36 | €8,846 | €214,562 | +€205,716 | +2,326% |
| Contracts in progress | 37 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €103,156 | €116,995 | +€13,839 | +13.4% |
| Trade receivables | 40 | €80,634 | €56,851 | -€23,783 | -29.5% |
| Other amounts receivable | 41 | €22,522 | €60,144 | +€37,622 | +167% |
| Cash at bank and in hand | 54/58 | €32,075 | €41,890 | +€9,815 | +30.6% |
| Deferred charges and accrued income | 490/1 | €9,310 | €10,618 | +€1,308 | +14.0% |
| Total equity and liabilities | 10/49 | €189,687 | €426,692 | +€237,005 | +125% |
| Equity | 10/15 | €128,344 | €148,708 | +€20,364 | +15.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €124,344 | €144,708 | +€20,364 | +16.4% |
| Distributable reserves | 133 | €124,344 | €144,708 | +€20,364 | +16.4% |
| Amounts payable | 17/49 | €61,343 | €277,984 | +€216,641 | +353% |
| Amounts payable after more than one year | 17 | - | €40,000 | +€40,000 | |
| Financial debts | 170/4 | - | €40,000 | +€40,000 | |
| Amounts payable within one year | 42/48 | €61,343 | €237,984 | +€176,641 | +288% |
| Current portion of amounts payable after more than one year | 42 | €14,076 | - | -€14,076 | |
| Financial debts | 43 | €13,555 | €10,603 | -€2,952 | -21.8% |
| Credit institutions | 430/8 | €12,236 | €10,603 | -€1,633 | -13.3% |
| Other loans | 439 | €1,319 | - | -€1,319 | |
| Trade debts | 44 | €12,890 | €219,311 | +€206,421 | +1,601% |
| Suppliers | 440/4 | €12,890 | €219,311 | +€206,421 | +1,601% |
| Advances received on contracts in progress | 46 | €8,239 | - | -€8,239 | |
| Taxes, remuneration and social security | 45 | €5,603 | €1,558 | -€4,045 | -72.2% |
| Taxes | 450/3 | €1,835 | €889 | -€946 | -51.6% |
| Remuneration and social security | 454/9 | €3,768 | €669 | -€3,099 | -82.2% |
| Other amounts payable | 47/48 | €6,980 | €6,512 | -€468 | -6.7% |
| Remuneration, social security and pensions | 62 | €78,417 | €85,587 | +€7,170 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,599 | €22,489 | -€2,110 | -8.6% |
| Other operating charges | 640/8 | €1,233 | €2,891 | +€1,658 | +134% |
| Gross operating margin | 9900 | €157,958 | €144,638 | -€13,320 | -8.4% |
| Operating profit (loss) | 9901 | €53,709 | €33,671 | -€20,038 | -37.3% |
| Financial income | 75/76B | €219 | €156 | -€63 | -28.8% |
| Recurring financial income | 75 | €219 | €156 | -€63 | -28.8% |
| Financial charges | 65/66B | €1,053 | €7,068 | +€6,015 | +571% |
| Recurring financial charges | 65 | €1,053 | €7,068 | +€6,015 | +571% |
| Profit (loss) for the period before taxes | 9903 | €52,875 | €26,759 | -€26,116 | -49.4% |
| Income taxes | 67/77 | €15,439 | €6,395 | -€9,044 | -58.6% |
| Profit (loss) for the period | 9904 | €37,436 | €20,364 | -€17,072 | -45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,436 | €20,364 | -€17,072 | -45.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.