Antoni & Halpouter: 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.
Antoni & Halpouter
Largest movements
- Tangible fixed assets -€206,650
down €206,650 (-63.7%), from €324,349 to €117,699
of which Land and buildings: -€175,380
- Cash +€10,054
up €10,054 (+275%), from €3,656 to €13,710
mainly Investment in fixed assets (net) (+€155,630) and Depreciation (+€49,742)
- Deferred charges and accrued income +€8,524
up €8,524 (+88.0%), from €9,683 to €18,207
- Receivables within one year -€6,876
down €6,876 (-90.5%), from €7,601 to €725
of which Other amounts receivable: -€5,800
- Debts after one year -€173,730
down €173,730 (-68.9%), from €252,331 to €78,601
- Current portion of long-term debt -€32,141
down €32,141 (-53.2%), from €60,457 to €28,316
- Other debts +€5,413
up €5,413 (+91.8%), from €5,894 to €11,306
- Tax, wage and social debts +€3,592
up €3,592 (+26.2%), from €13,702 to €17,293
of which Remuneration and social security: +€5,293
- Financial charges +€47,319
up €47,319 (+489%), from €9,677 to €56,996
- Depreciation -€33,308
down €33,308 (-40.1%), from €83,049 to €49,742
- Gross operating margin +€28,747
up €28,747 (+17.9%), from €160,210 to €188,956
- Taxes +€7,257
up €7,257 (+261%), from €2,777 to €10,034
- Staff costs -€6,516
down €6,516 (-9.2%), from €70,868 to €64,352
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 | €347,667 | €153,998 | -€193,669 | -55.7% |
| Fixed assets | 21/28 | €326,728 | €121,357 | -€205,372 | -62.9% |
| Intangible fixed assets | 21 | €2,379 | €1,808 | -€572 | -24.0% |
| Tangible fixed assets | 22/27 | €324,349 | €117,699 | -€206,650 | -63.7% |
| Land and buildings | 22 | €177,081 | €1,701 | -€175,380 | -99.0% |
| Plant, machinery and equipment | 23 | €36,084 | €39,627 | +€3,544 | +9.8% |
| Furniture and vehicles | 24 | €111,185 | €76,371 | -€34,814 | -31.3% |
| Financial fixed assets | 28 | - | €1,850 | +€1,850 | |
| Current assets | 29/58 | €20,939 | €32,641 | +€11,703 | +55.9% |
| Amounts receivable within one year | 40/41 | €7,601 | €725 | -€6,876 | -90.5% |
| Trade receivables | 40 | €1,801 | €725 | -€1,076 | -59.8% |
| Other amounts receivable | 41 | €5,800 | €0 | -€5,800 | -100% |
| Cash at bank and in hand | 54/58 | €3,656 | €13,710 | +€10,054 | +275% |
| Deferred charges and accrued income | 490/1 | €9,683 | €18,207 | +€8,524 | +88.0% |
| Total equity and liabilities | 10/49 | €347,667 | €153,998 | -€193,669 | -55.7% |
| Equity | 10/15 | €9,034 | €12,493 | +€3,459 | +38.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€11,426 | -€7,967 | +€3,459 | +30.3% |
| Amounts payable | 17/49 | €338,633 | €141,505 | -€197,128 | -58.2% |
| Amounts payable after more than one year | 17 | €252,331 | €78,601 | -€173,730 | -68.9% |
| Financial debts | 170/4 | €252,331 | €78,601 | -€173,730 | -68.9% |
| Amounts payable within one year | 42/48 | €86,302 | €62,904 | -€23,398 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €60,457 | €28,316 | -€32,141 | -53.2% |
| Trade debts | 44 | €6,249 | €5,988 | -€261 | -4.2% |
| Suppliers | 440/4 | €6,249 | €5,988 | -€261 | -4.2% |
| Taxes, remuneration and social security | 45 | €13,702 | €17,293 | +€3,592 | +26.2% |
| Taxes | 450/3 | €13,702 | €12,000 | -€1,702 | -12.4% |
| Remuneration and social security | 454/9 | €0 | €5,293 | +€5,293 | |
| Other amounts payable | 47/48 | €5,894 | €11,306 | +€5,413 | +91.8% |
| Non-recurring operating income | 76A | €1,968 | €0 | -€1,968 | -100% |
| Remuneration, social security and pensions | 62 | €70,868 | €64,352 | -€6,516 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,049 | €49,742 | -€33,308 | -40.1% |
| Other operating charges | 640/8 | €8,513 | €4,507 | -€4,006 | -47.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €160,210 | €188,956 | +€28,747 | +17.9% |
| Operating profit (loss) | 9901 | -€2,220 | €70,356 | +€72,577 | |
| Financial income | 75/76B | €23 | €133 | +€109 | +472% |
| Recurring financial income | 75 | €23 | €133 | +€109 | +472% |
| Financial charges | 65/66B | €9,677 | €56,996 | +€47,319 | +489% |
| Recurring financial charges | 65 | €9,677 | €56,996 | +€47,319 | +489% |
| Profit (loss) for the period before taxes | 9903 | -€11,875 | €13,493 | +€25,368 | |
| Income taxes | 67/77 | €2,777 | €10,034 | +€7,257 | +261% |
| Profit (loss) for the period | 9904 | -€14,651 | €3,459 | +€18,110 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,651 | €3,459 | +€18,110 |
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 31 October 2026 via checked.be.