A.N.C.: 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.
A.N.C.
Largest movements
- Receivables after one year +€11,018
up €11,018 (+39.5%), from €27,923 to €38,941
- Cash +€9,171
up €9,171 (+8.4%), from €109,032 to €118,203
mainly Trade debts (+€49,428) and Depreciation (+€7,435)
- Tangible fixed assets -€6,940
down €6,940 (-29.3%), from €23,658 to €16,718
of which Furniture and vehicles: -€3,597
- Receivables within one year +€6,813
up €6,813 (+105.3%), from €6,473 to €13,286
of which Trade receivables: +€3,840
- Trade debts +€49,428
up €49,428 (+527.0%), from €9,379 to €58,806
- Reserves -€19,876
down €19,876 (-31.1%), from €63,876 to €44,000
- Profit (loss) carried forward -€11,201
new in 2025: -€11,201
- Current portion of long-term debt +€5,321
up €5,321 (+23.3%), from €22,885 to €28,206
- Accrued charges and deferred income -€4,530
no longer reported in 2025 (was €4,530)
- Financial charges +€10,065
up €10,065 (+85.3%), from €11,799 to €21,864
- Staff costs +€7,380
up €7,380 (+1.3%), from €586,222 to €593,602
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.
Cash bridge derived
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 | €178,592 | €196,468 | +€17,876 | +10.0% |
| Fixed assets | 21/28 | €24,089 | €16,718 | -€7,371 | -30.6% |
| Tangible fixed assets | 22/27 | €23,658 | €16,718 | -€6,940 | -29.3% |
| Furniture and vehicles | 24 | €10,334 | €6,737 | -€3,597 | -34.8% |
| Other tangible fixed assets | 26 | €13,323 | €9,980 | -€3,343 | -25.1% |
| Financial fixed assets | 28 | €431 | - | -€431 | |
| Current assets | 29/58 | €154,503 | €179,750 | +€25,247 | +16.3% |
| Amounts receivable after more than one year | 29 | €27,923 | €38,941 | +€11,018 | +39.5% |
| Other amounts receivable | 291 | €27,923 | €38,941 | +€11,018 | +39.5% |
| Stocks and contracts in progress | 3 | €6,867 | €6,242 | -€624 | -9.1% |
| Stocks | 30/36 | €6,867 | €6,242 | -€624 | -9.1% |
| Amounts receivable within one year | 40/41 | €6,473 | €13,286 | +€6,813 | +105.3% |
| Trade receivables | 40 | €364 | €4,204 | +€3,840 | +1054.6% |
| Other amounts receivable | 41 | €6,109 | €9,081 | +€2,973 | +48.7% |
| Cash at bank and in hand | 54/58 | €109,032 | €118,203 | +€9,171 | +8.4% |
| Deferred charges and accrued income | 490/1 | €4,209 | €3,078 | -€1,130 | -26.9% |
| Total equity and liabilities | 10/49 | €178,592 | €196,468 | +€17,876 | +10.0% |
| Equity | 10/15 | €82,476 | €51,399 | -€31,076 | -37.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €63,876 | €44,000 | -€19,876 | -31.1% |
| Distributable reserves | 133 | €63,876 | €44,000 | -€19,876 | -31.1% |
| Profit (loss) carried forward | 14 | - | -€11,201 | -€11,201 | |
| Amounts payable | 17/49 | €96,116 | €145,069 | +€48,952 | +50.9% |
| Amounts payable within one year | 42/48 | €91,587 | €145,069 | +€53,482 | +58.4% |
| Current portion of amounts payable after more than one year | 42 | €22,885 | €28,206 | +€5,321 | +23.3% |
| Trade debts | 44 | €9,379 | €58,806 | +€49,428 | +527.0% |
| Suppliers | 440/4 | €9,379 | €58,806 | +€49,428 | +527.0% |
| Taxes, remuneration and social security | 45 | €59,323 | €57,635 | -€1,688 | -2.8% |
| Taxes | 450/3 | €25,137 | €18,248 | -€6,889 | -27.4% |
| Remuneration and social security | 454/9 | €34,186 | €39,387 | +€5,201 | +15.2% |
| Other amounts payable | 47/48 | - | €422 | +€422 | |
| Accrued charges and deferred income | 492/3 | €4,530 | - | -€4,530 | |
| Remuneration, social security and pensions | 62 | €586,222 | €593,602 | +€7,380 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,908 | €7,435 | -€473 | -6.0% |
| Other operating charges | 640/8 | €8,559 | €7,698 | -€861 | -10.1% |
| Non-recurring operating charges | 66A | €387 | €634 | +€246 | +63.6% |
| Gross operating margin | 9900 | €598,610 | €601,075 | +€2,466 | +0.4% |
| Operating profit (loss) | 9901 | -€4,467 | -€8,294 | -€3,827 | -85.7% |
| Financial charges | 65/66B | €11,799 | €21,864 | +€10,065 | +85.3% |
| Recurring financial charges | 65 | €11,799 | €21,864 | +€10,065 | +85.3% |
| Profit (loss) for the period before taxes | 9903 | -€16,266 | -€30,158 | -€13,891 | -85.4% |
| Income taxes | 67/77 | €496 | €919 | +€423 | +85.3% |
| Profit (loss) for the period | 9904 | -€16,762 | -€31,076 | -€14,314 | -85.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,762 | -€31,076 | -€14,314 | -85.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.