A.N.G.E.L.: 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.G.E.L.
Largest movements
- Receivables after one year -€290,417
down €290,417 (-84.1%), from €345,161 to €54,745
- Financial fixed assets +€122,920
up €122,920 (+59.1%), from €207,945 to €330,865
- Receivables within one year -€52,907
down €52,907 (-66.8%), from €79,240 to €26,333
of which Other amounts receivable: -€41,883
- Tangible fixed assets -€30,011
down €30,011 (-8.3%), from €361,798 to €331,786
of which Land and buildings: -€26,741
- Profit (loss) carried forward -€187,236
down €187,236 (-40.5%), from €462,370 to €275,134
- Reserves -€43,000
down €43,000 (-15.7%), from €273,401 to €230,401
- Debts after one year -€25,231
down €25,231 (-12.8%), from €197,413 to €172,182
- Financial charges +€291,220
up €291,220 (+4,811%), from €6,053 to €297,273
- Financial income +€130,076
up €130,076 (+38,865%), from €335 to €130,411
- Gross operating margin -€24,216
down €24,216 (-63.0%), from €38,429 to €14,213
- Purchases and services +€23,850
up €23,850 (+18.0%), from €132,385 to €156,236
- Turnover -€2,887
down €2,887 (-1.9%), from €154,387 to €151,500
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 | €1,071,033 | €822,164 | -€248,869 | -23.2% |
| Fixed assets | 21/28 | €569,742 | €662,651 | +€92,909 | +16.3% |
| Tangible fixed assets | 22/27 | €361,798 | €331,786 | -€30,011 | -8.3% |
| Land and buildings | 22 | €348,865 | €322,125 | -€26,741 | -7.7% |
| Furniture and vehicles | 24 | €12,932 | €9,661 | -€3,271 | -25.3% |
| Financial fixed assets | 28 | €207,945 | €330,865 | +€122,920 | +59.1% |
| Current assets | 29/58 | €501,291 | €159,513 | -€341,777 | -68.2% |
| Amounts receivable after more than one year | 29 | €345,161 | €54,745 | -€290,417 | -84.1% |
| Other amounts receivable | 291 | €345,161 | €54,745 | -€290,417 | -84.1% |
| Amounts receivable within one year | 40/41 | €79,240 | €26,333 | -€52,907 | -66.8% |
| Trade receivables | 40 | €26,632 | €15,608 | -€11,024 | -41.4% |
| Other amounts receivable | 41 | €52,608 | €10,725 | -€41,883 | -79.6% |
| Cash at bank and in hand | 54/58 | €76,115 | €75,627 | -€487 | -0.6% |
| Deferred charges and accrued income | 490/1 | €774 | €2,808 | +€2,034 | +263% |
| Total equity and liabilities | 10/49 | €1,071,033 | €822,164 | -€248,869 | -23.2% |
| Equity | 10/15 | €835,771 | €605,535 | -€230,236 | -27.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €273,401 | €230,401 | -€43,000 | -15.7% |
| Distributable reserves | 133 | €273,401 | €230,401 | -€43,000 | -15.7% |
| Profit (loss) carried forward | 14 | €462,370 | €275,134 | -€187,236 | -40.5% |
| Amounts payable | 17/49 | €235,262 | €216,629 | -€18,632 | -7.9% |
| Amounts payable after more than one year | 17 | €197,413 | €172,182 | -€25,231 | -12.8% |
| Financial debts | 170/4 | €197,413 | €172,182 | -€25,231 | -12.8% |
| Amounts payable within one year | 42/48 | €37,824 | €42,901 | +€5,077 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €22,893 | €25,231 | +€2,338 | +10.2% |
| Trade debts | 44 | €10,780 | €14,184 | +€3,404 | +31.6% |
| Suppliers | 440/4 | €10,780 | €14,184 | +€3,404 | +31.6% |
| Taxes, remuneration and social security | 45 | €3,686 | €2,379 | -€1,307 | -35.5% |
| Taxes | 450/3 | €3,686 | - | -€3,686 | |
| Remuneration and social security | 454/9 | - | €2,379 | +€2,379 | |
| Other amounts payable | 47/48 | €465 | €1,107 | +€642 | +138% |
| Accrued charges and deferred income | 492/3 | €25 | €1,547 | +€1,522 | +6,129% |
| Turnover | 70 | €154,387 | €151,500 | -€2,887 | -1.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €132,385 | €156,236 | +€23,850 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,150 | €30,011 | +€861 | +3.0% |
| Other operating charges | 640/8 | €4,139 | €4,401 | +€262 | +6.3% |
| Gross operating margin | 9900 | €38,429 | €14,213 | -€24,216 | -63.0% |
| Operating profit (loss) | 9901 | €5,140 | -€20,199 | -€25,340 | |
| Financial income | 75/76B | €335 | €130,411 | +€130,076 | +38,865% |
| Recurring financial income | 75 | €335 | €130,411 | +€130,076 | +38,865% |
| Financial charges | 65/66B | €6,053 | €297,273 | +€291,220 | +4,811% |
| Recurring financial charges | 65 | €6,053 | €297,273 | +€291,220 | +4,811% |
| Profit (loss) for the period before taxes | 9903 | -€578 | -€187,062 | -€186,484 | -32,265% |
| Income taxes | 67/77 | €1,701 | €175 | -€1,527 | -89.7% |
| Profit (loss) for the period | 9904 | -€2,279 | -€187,236 | -€184,957 | -8,114% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,279 | -€187,236 | -€184,957 | -8,114% |
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 20 October 2026 via checked.be.