ETS ANTOINE: 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
ETS ANTOINE
NACE 28.299, Manufacture of machinery and equipment not elsewhere classified
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€256,376
2024 · €95,303+€161,073
Equity
€7.3m
2024 · €4.4m+€3.0m
Cash
€238,624
2024 · €389,223-€150,599
Balance sheet total
€16.2m
2024 · €11.2m+€5.1m
Largest movements
Assets
- Stocks and contracts +€2.8m
up €2.8m (+86.8%), from €3.3m to €6.1m
- Receivables within one year +€2.1m
up €2.1m (+52.7%), from €4.0m to €6.1m
of which Trade receivables: +€1.8m
- Intangible fixed assets +€211,307
new in 2025: €211,307
Equity and liabilities
- Profit (loss) carried forward +€3.0m
up €3.0m (+174%), from €1.7m to €4.7m
- Short-term financial debts +€1.0m
up €1.0m (+302%), from €343,000 to €1.4m
of which Credit institutions: +€1.1m
- Trade debts +€903,475
up €903,475 (+47.3%), from €1.9m to €2.8m
- Tax, wage and social debts +€208,813
up €208,813 (+27.0%), from €773,189 to €982,002
of which Remuneration and social security: +€264,172
Income statement
- Turnover +€1.5m
up €1.5m (+9.5%), from €15.8m to €17.3m
- Goods and materials +€1.0m
up €1.0m (+12.0%), from €8.7m to €9.7m
of which Purchases: +€1.8m
- Staff costs +€448,260
up €448,260 (+9.4%), from €4.8m to €5.2m
- Financial income +€253,623
up €253,623 (+2,674%), from €9,485 to €263,109
- Services and other goods +€202,103
up €202,103 (+9.6%), from €2.1m to €2.3m
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
€95,303
Turnover
+€1.5m
Other operating income
+€9,990
Goods and materials
-€1.0m
Services and other goods
-€202,103
Staff costs
-€448,260
Depreciation
-€1,828
Other operating charges
+€13,641
Other operating items
+€193,192
Financial income
+€253,623
Financial charges
-€126,475
Taxes
+€8,362
Result 2025
€256,376
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€3.3m
Investment
-€528,558
Financing
+€3.7m
Cash 2024
€389,223
From operations (derived)
-€3.3m
Net result for the year
+€256,376
Depreciation
+€305,429
Stocks and contracts
-€2.8m
Receivables within one year
-€2.1m
Deferred charges and accrued income
-€35,112
Provisions
-€2,418
Trade debts
+€903,475
Tax, wage and social debts
+€208,813
Investment (derived)
-€528,558
Investment in fixed assets (net)
-€528,558
Financing
+€3.7m
Debts after one year
-€161,130
Current portion of long-term debt
+€96,967
Short-term financial debts
+€1.0m
Contributions, distributions and other
+€2.7m
Cash 2025
€238,624
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,151,329 | €16,203,728 | +€5.1m | +45.3% |
| Fixed assets | 21/28 | €2,485,664 | €2,708,793 | +€223,129 | +9.0% |
| Intangible fixed assets | 21 | - | €211,307 | +€211,307 | |
| Tangible fixed assets | 22/27 | €2,247,703 | €2,236,793 | -€10,910 | -0.5% |
| Land and buildings | 22 | €1,699,537 | €1,596,423 | -€103,115 | -6.1% |
| Plant, machinery and equipment | 23 | €86,233 | €88,362 | +€2,129 | +2.5% |
| Furniture and vehicles | 24 | €461,933 | €552,009 | +€90,076 | +19.5% |
| Financial fixed assets | 28 | €237,961 | €260,693 | +€22,732 | +9.6% |
| Affiliated companies | 280/1 | €155,337 | €155,336 | -€1 | 0.0% |
| Participating interests | 280 | €155,337 | €155,336 | -€1 | 0.0% |
| Other financial fixed assets | 284/8 | €82,624 | €105,357 | +€22,733 | +27.5% |
| Amounts receivable and cash guarantees | 285/8 | €82,624 | €105,357 | +€22,733 | +27.5% |
| Current assets | 29/58 | €8,665,665 | €13,494,935 | +€4.8m | +55.7% |
| Stocks and contracts in progress | 3 | €3,283,167 | €6,131,725 | +€2.8m | +86.8% |
| Stocks | 30/36 | €3,283,167 | €6,131,725 | +€2.8m | +86.8% |
| Goods purchased for resale | 34 | €3,283,167 | €6,131,725 | +€2.8m | +86.8% |
| Amounts receivable within one year | 40/41 | €3,975,869 | €6,072,068 | +€2.1m | +52.7% |
| Trade receivables | 40 | €3,338,589 | €5,120,285 | +€1.8m | +53.4% |
| Other amounts receivable | 41 | €637,280 | €951,783 | +€314,503 | +49.4% |
| Current investments | 50/53 | €929,348 | €929,348 | = | 0.0% |
| Own shares | 50 | €929,348 | €929,348 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €389,223 | €238,624 | -€150,599 | -38.7% |
| Deferred charges and accrued income | 490/1 | €88,059 | €123,171 | +€35,112 | +39.9% |
| Total equity and liabilities | 10/49 | €11,151,329 | €16,203,728 | +€5.1m | +45.3% |
| Equity | 10/15 | €4,369,252 | €7,339,332 | +€3.0m | +68.0% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €1,119,436 | €1,119,436 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,084,521 | €1,084,521 | = | 0.0% |
| Legal reserve | 130 | €150,000 | €150,000 | = | 0.0% |
| Own shares acquired | 1312 | €929,348 | €929,348 | = | 0.0% |
| Other | 1319 | €5,173 | €5,173 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,915 | €34,915 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,714,161 | €4,693,541 | +€3.0m | +174% |
| Investment grants | 15 | €35,655 | €26,355 | -€9,300 | -26.1% |
| Provisions and deferred taxes | 16 | €141,194 | €138,775 | -€2,418 | -1.7% |
| Provisions for liabilities and charges | 160/5 | €132,000 | €132,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €132,000 | €132,000 | = | 0.0% |
| Deferred taxes | 168 | €9,194 | €6,775 | -€2,418 | -26.3% |
| Amounts payable | 17/49 | €6,640,884 | €8,725,621 | +€2.1m | +31.4% |
| Amounts payable after more than one year | 17 | €3,275,176 | €3,114,047 | -€161,130 | -4.9% |
| Financial debts | 170/4 | €3,275,176 | €3,114,047 | -€161,130 | -4.9% |
| Credit institutions | 173 | €3,275,176 | €3,114,047 | -€161,130 | -4.9% |
| Amounts payable within one year | 42/48 | €3,365,708 | €5,611,574 | +€2.2m | +66.7% |
| Current portion of amounts payable after more than one year | 42 | €338,715 | €435,682 | +€96,967 | +28.6% |
| Financial debts | 43 | €343,000 | €1,379,612 | +€1.0m | +302% |
| Credit institutions | 430/8 | €214,667 | €1,334,612 | +€1.1m | +522% |
| Other loans | 439 | €128,333 | €45,000 | -€83,333 | -64.9% |
| Trade debts | 44 | €1,910,804 | €2,814,279 | +€903,475 | +47.3% |
| Suppliers | 440/4 | €1,910,804 | €2,814,279 | +€903,475 | +47.3% |
| Taxes, remuneration and social security | 45 | €773,189 | €982,002 | +€208,813 | +27.0% |
| Taxes | 450/3 | €206,054 | €150,695 | -€55,359 | -26.9% |
| Remuneration and social security | 454/9 | €567,135 | €831,307 | +€264,172 | +46.6% |
| Operating income | 70/76A | €16,206,278 | €17,931,267 | +€1.7m | +10.6% |
| Turnover | 70 | €15,806,394 | €17,308,929 | +€1.5m | +9.5% |
| Own construction capitalised | 72 | - | €211,307 | +€211,307 | |
| Other operating income | 74 | €392,291 | €402,280 | +€9,990 | +2.5% |
| Non-recurring operating income | 76A | €7,593 | €8,750 | +€1,157 | +15.2% |
| Operating charges | 60/66A | €15,993,358 | €17,692,783 | +€1.7m | +10.6% |
| Goods for resale, raw materials and consumables | 60 | €8,661,232 | €9,702,835 | +€1.0m | +12.0% |
| Purchases | 600/8 | €8,001,610 | €9,845,009 | +€1.8m | +23.0% |
| Change in stocks: decrease (increase) | 609 | €659,622 | -€142,175 | -€801,797 | |
| Services and other goods | 61 | €2,106,149 | €2,308,253 | +€202,103 | +9.6% |
| Remuneration, social security and pensions | 62 | €4,750,060 | €5,198,320 | +€448,260 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303,601 | €305,429 | +€1,828 | +0.6% |
| Other operating charges | 640/8 | €172,316 | €158,675 | -€13,641 | -7.9% |
| Non-recurring operating charges | 66A | - | €19,272 | +€19,272 | |
| Operating profit (loss) | 9901 | €212,920 | €238,483 | +€25,563 | +12.0% |
| Financial income | 75/76B | €9,485 | €263,109 | +€253,623 | +2,674% |
| Recurring financial income | 75 | €9,485 | €263,109 | +€253,623 | +2,674% |
| Income from financial fixed assets | 750 | - | €250,000 | +€250,000 | |
| Other financial income | 752/9 | €9,485 | €13,109 | +€3,623 | +38.2% |
| Financial charges | 65/66B | €59,574 | €186,049 | +€126,475 | +212% |
| Recurring financial charges | 65 | €59,521 | €186,049 | +€126,528 | +213% |
| Debt charges | 650 | €39,470 | €163,209 | +€123,739 | +313% |
| Other financial charges | 652/9 | €20,051 | €22,840 | +€2,790 | +13.9% |
| Non-recurring financial charges | 66B | €53 | - | -€53 | |
| Profit (loss) for the period before taxes | 9903 | €162,832 | €315,543 | +€152,711 | +93.8% |
| Transfer from deferred taxes | 780 | €2,418 | €2,418 | = | 0.0% |
| Income taxes | 67/77 | €69,947 | €61,585 | -€8,362 | -12.0% |
| Taxes | 670/3 | €69,947 | €61,585 | -€8,362 | -12.0% |
| Profit (loss) for the period | 9904 | €95,303 | €256,376 | +€161,073 | +169% |
| Profit (loss) for the period to be appropriated | 9905 | €95,303 | €256,376 | +€161,073 | +169% |
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 16 October 2026 via checked.be.