ANTHE: 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.
ANTHE
Largest movements
- Tangible fixed assets -€51,300
down €51,300 (-7.9%), from €646,002 to €594,702
of which Land and buildings: -€37,359
- Cash +€39,837
up €39,837 (+51.8%), from €76,885 to €116,722
mainly Net result for the year (+€72,068) and Depreciation (+€48,750)
- Receivables within one year +€10,503
up €10,503 (+9.4%), from €111,595 to €122,099
of which Trade receivables: +€13,871
- Reserves +€64,472
up €64,472 (+27.9%), from €231,070 to €295,541
- Other debts -€45,858
down €45,858 (-85.7%), from €53,528 to €7,670
- Debts after one year -€29,659
down €29,659 (-8.1%), from €364,629 to €334,970
of which Financial debts: -€66,977
- Staff costs -€93,898
down €93,898 (-96.9%), from €96,912 to €3,014
- Taxes +€24,868
up €24,868 (+441%), from €5,633 to €30,501
- Write-downs +€17,038
new in 2025: €17,038
- Gross operating margin +€15,148
up €15,148 (+8.3%), from €181,872 to €197,021
- Depreciation -€4,301
down €4,301 (-8.1%), from €53,052 to €48,750
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 | €843,453 | €839,412 | -€4,041 | -0.5% |
| Fixed assets | 21/28 | €646,219 | €594,919 | -€51,300 | -7.9% |
| Tangible fixed assets | 22/27 | €646,002 | €594,702 | -€51,300 | -7.9% |
| Land and buildings | 22 | €615,297 | €577,938 | -€37,359 | -6.1% |
| Furniture and vehicles | 24 | €30,705 | €16,764 | -€13,941 | -45.4% |
| Financial fixed assets | 28 | €217 | €217 | = | 0.0% |
| Current assets | 29/58 | €197,234 | €244,492 | +€47,259 | +24.0% |
| Amounts receivable within one year | 40/41 | €111,595 | €122,099 | +€10,503 | +9.4% |
| Trade receivables | 40 | €95,634 | €109,505 | +€13,871 | +14.5% |
| Other amounts receivable | 41 | €15,962 | €12,594 | -€3,368 | -21.1% |
| Cash at bank and in hand | 54/58 | €76,885 | €116,722 | +€39,837 | +51.8% |
| Deferred charges and accrued income | 490/1 | €8,754 | €5,671 | -€3,082 | -35.2% |
| Total equity and liabilities | 10/49 | €843,453 | €839,412 | -€4,041 | -0.5% |
| Equity | 10/15 | €326,760 | €387,757 | +€60,997 | +18.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €231,070 | €295,541 | +€64,472 | +27.9% |
| Distributable reserves | 133 | €231,070 | €295,541 | +€64,472 | +27.9% |
| Profit (loss) carried forward | 14 | €74 | €0 | -€74 | -100% |
| Investment grants | 15 | €77,016 | €73,616 | -€3,400 | -4.4% |
| Amounts payable | 17/49 | €516,693 | €451,654 | -€65,038 | -12.6% |
| Amounts payable after more than one year | 17 | €364,629 | €334,970 | -€29,659 | -8.1% |
| Financial debts | 170/4 | €310,638 | €243,661 | -€66,977 | -21.6% |
| Other amounts payable | 178/9 | €53,991 | €91,309 | +€37,318 | +69.1% |
| Amounts payable within one year | 42/48 | €148,205 | €111,189 | -€37,015 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €65,555 | €66,977 | +€1,422 | +2.2% |
| Trade debts | 44 | €11,942 | €11,298 | -€643 | -5.4% |
| Suppliers | 440/4 | €11,942 | €11,298 | -€643 | -5.4% |
| Taxes, remuneration and social security | 45 | €17,180 | €25,244 | +€8,064 | +46.9% |
| Taxes | 450/3 | €14,694 | €25,244 | +€10,551 | +71.8% |
| Remuneration and social security | 454/9 | €2,487 | €0 | -€2,487 | -100% |
| Other amounts payable | 47/48 | €53,528 | €7,670 | -€45,858 | -85.7% |
| Accrued charges and deferred income | 492/3 | €3,859 | €5,495 | +€1,636 | +42.4% |
| Remuneration, social security and pensions | 62 | €96,912 | €3,014 | -€93,898 | -96.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,052 | €48,750 | -€4,301 | -8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,038 | +€17,038 | |
| Other operating charges | 640/8 | €13,418 | €16,765 | +€3,347 | +24.9% |
| Gross operating margin | 9900 | €181,872 | €197,021 | +€15,148 | +8.3% |
| Operating profit (loss) | 9901 | €18,490 | €111,453 | +€92,963 | +503% |
| Financial income | 75/76B | €3,948 | €3,691 | -€257 | -6.5% |
| Recurring financial income | 75 | €3,948 | €3,691 | -€257 | -6.5% |
| Financial charges | 65/66B | €12,475 | €12,575 | +€100 | +0.8% |
| Recurring financial charges | 65 | €12,475 | €12,575 | +€100 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €9,963 | €102,569 | +€92,606 | +930% |
| Income taxes | 67/77 | €5,633 | €30,501 | +€24,868 | +441% |
| Profit (loss) for the period | 9904 | €4,329 | €72,068 | +€67,738 | +1,565% |
| Profit (loss) for the period to be appropriated | 9905 | €4,329 | €72,068 | +€67,738 | +1,565% |
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 18 October 2026 via checked.be.