AN&CO: what changed
Two fiscal 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.
AN&CO
Largest movements
- Receivables within one year +€80,677
up €80,677 (+57.5%), from €140,310 to €220,988
of which Trade receivables: +€80,129
- Tangible fixed assets +€74,046
up €74,046 (+364.5%), from €20,313 to €94,359
of which Land and buildings: +€75,432
- Formation expenses -€5,016
down €5,016 (-100.0%), from €5,016 to €0
- Cash +€3,628
up €3,628 (+11.9%), from €30,482 to €34,110
mainly Other debts (+€63,750) and Debts after one year (+€61,499)
- Other debts +€63,750
new in 2025: €63,750
- Debts after one year +€61,499
new in 2025: €61,499
- Trade debts +€54,942
up €54,942 (+56.9%), from €96,529 to €151,471
- Profit (loss) carried forward -€41,692
down €41,692 (-42.6%), from €97,776 to €56,083
- Tax, wage and social debts +€21,231
up €21,231 (+3239.2%), from €655 to €21,886
- Gross operating margin -€17,965
down €17,965 (-22.5%), from €79,825 to €61,860
- Taxes -€10,019
down €10,019 (-48.5%), from €20,655 to €10,636
- Other operating charges +€9,040
up €9,040 (+682.3%), from €1,325 to €10,365
- Depreciation +€3,832
up €3,832 (+120.6%), from €3,178 to €7,010
- Financial charges +€1,273
up €1,273 (+142.5%), from €893 to €2,166
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 | €206,902 | €360,937 | +€154,035 | +74.4% |
| Formation expenses | 20 | €5,016 | €0 | -€5,016 | -100.0% |
| Fixed assets | 21/28 | €30,313 | €104,359 | +€74,046 | +244.3% |
| Tangible fixed assets | 22/27 | €20,313 | €94,359 | +€74,046 | +364.5% |
| Land and buildings | 22 | €14,652 | €90,084 | +€75,432 | +514.8% |
| Plant, machinery and equipment | 23 | €5,323 | €4,137 | -€1,186 | -22.3% |
| Furniture and vehicles | 24 | €338 | €137 | -€200 | -59.3% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €171,573 | €256,578 | +€85,005 | +49.5% |
| Amounts receivable within one year | 40/41 | €140,310 | €220,988 | +€80,677 | +57.5% |
| Trade receivables | 40 | €103,848 | €183,978 | +€80,129 | +77.2% |
| Other amounts receivable | 41 | €36,462 | €37,010 | +€548 | +1.5% |
| Cash at bank and in hand | 54/58 | €30,482 | €34,110 | +€3,628 | +11.9% |
| Deferred charges and accrued income | 490/1 | €781 | €1,481 | +€700 | +89.5% |
| Total equity and liabilities | 10/49 | €206,902 | €360,937 | +€154,035 | +74.4% |
| Equity | 10/15 | €97,776 | €56,083 | -€41,692 | -42.6% |
| Profit (loss) carried forward | 14 | €97,776 | €56,083 | -€41,692 | -42.6% |
| Amounts payable | 17/49 | €109,127 | €304,854 | +€195,727 | +179.4% |
| Amounts payable after more than one year | 17 | - | €61,499 | +€61,499 | |
| Financial debts | 170/4 | - | €61,499 | +€61,499 | |
| Amounts payable within one year | 42/48 | €109,127 | €243,152 | +€134,025 | +122.8% |
| Current portion of amounts payable after more than one year | 42 | - | €6,044 | +€6,044 | |
| Trade debts | 44 | €96,529 | €151,471 | +€54,942 | +56.9% |
| Suppliers | 440/4 | €96,529 | €151,471 | +€54,942 | +56.9% |
| Advances received on contracts in progress | 46 | €11,942 | - | -€11,942 | |
| Taxes, remuneration and social security | 45 | €655 | €21,886 | +€21,231 | +3239.2% |
| Taxes | 450/3 | €655 | €21,886 | +€21,231 | +3239.2% |
| Other amounts payable | 47/48 | - | €63,750 | +€63,750 | |
| Accrued charges and deferred income | 492/3 | - | €203 | +€203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,178 | €7,010 | +€3,832 | +120.6% |
| Other operating charges | 640/8 | €1,325 | €10,365 | +€9,040 | +682.3% |
| Gross operating margin | 9900 | €79,825 | €61,860 | -€17,965 | -22.5% |
| Operating profit (loss) | 9901 | €75,322 | €44,485 | -€30,837 | -40.9% |
| Financial income | 75/76B | €1,529 | €1,625 | +€96 | +6.3% |
| Recurring financial income | 75 | €1,529 | €1,625 | +€96 | +6.3% |
| Financial charges | 65/66B | €893 | €2,166 | +€1,273 | +142.5% |
| Recurring financial charges | 65 | €893 | €2,166 | +€1,273 | +142.5% |
| Profit (loss) for the period before taxes | 9903 | €75,958 | €43,944 | -€32,014 | -42.1% |
| Income taxes | 67/77 | €20,655 | €10,636 | -€10,019 | -48.5% |
| Profit (loss) for the period | 9904 | €55,302 | €33,308 | -€21,995 | -39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €55,302 | €33,308 | -€21,995 | -39.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.