AN YUAN: 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.
AN YUAN
Largest movements
- Cash -€61,428
down €61,428 (-44.7%), from €137,452 to €76,024
mainly Investment in fixed assets (net) (-€58,873) and Contributions, distributions and other (-€47,059)
- Tangible fixed assets +€54,479
up €54,479 (+412%), from €13,234 to €67,713
of which Assets under construction and advance payments: +€54,956
- Receivables within one year +€12,211
up €12,211 (+1,885%), from €648 to €12,859
- Stocks and contracts +€4,795
up €4,795 (+161%), from €2,975 to €7,770
- Intangible fixed assets -€3,800
down €3,800 (-14.1%), from €26,923 to €23,123
- Other debts -€18,863
no longer reported in 2025 (was €18,863)
- Tax, wage and social debts +€15,471
up €15,471 (+45.5%), from €33,971 to €49,442
of which Remuneration and social security: +€12,588
- Trade debts +€8,516
up €8,516 (+395%), from €2,157 to €10,673
- Staff costs +€31,991
new in 2025: €31,991
- Gross operating margin +€5,825
up €5,825 (+5.5%), from €105,072 to €110,897
- Other operating charges +€2,225
up €2,225 (+201%), from €1,105 to €3,329
- Taxes -€2,135
down €2,135 (-11.2%), from €19,038 to €16,902
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 | €181,432 | €187,689 | +€6,257 | +3.4% |
| Fixed assets | 21/28 | €40,157 | €90,835 | +€50,679 | +126% |
| Intangible fixed assets | 21 | €26,923 | €23,123 | -€3,800 | -14.1% |
| Tangible fixed assets | 22/27 | €13,234 | €67,713 | +€54,479 | +412% |
| Plant, machinery and equipment | 23 | €5,724 | €7,096 | +€1,372 | +24.0% |
| Other tangible fixed assets | 26 | €7,510 | €5,661 | -€1,849 | -24.6% |
| Assets under construction and advance payments | 27 | - | €54,956 | +€54,956 | |
| Current assets | 29/58 | €141,275 | €96,853 | -€44,422 | -31.4% |
| Stocks and contracts in progress | 3 | €2,975 | €7,770 | +€4,795 | +161% |
| Stocks | 30/36 | €2,975 | €7,770 | +€4,795 | +161% |
| Amounts receivable within one year | 40/41 | €648 | €12,859 | +€12,211 | +1,885% |
| Trade receivables | 40 | €648 | €12,859 | +€12,211 | +1,885% |
| Cash at bank and in hand | 54/58 | €137,452 | €76,024 | -€61,428 | -44.7% |
| Deferred charges and accrued income | 490/1 | €200 | €200 | = | 0.0% |
| Total equity and liabilities | 10/49 | €181,432 | €187,689 | +€6,257 | +3.4% |
| Equity | 10/15 | €126,441 | €127,574 | +€1,133 | +0.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €121,441 | €122,574 | +€1,133 | +0.9% |
| Distributable reserves | 133 | €121,441 | €122,574 | +€1,133 | +0.9% |
| Amounts payable | 17/49 | €54,991 | €60,114 | +€5,124 | +9.3% |
| Amounts payable within one year | 42/48 | €54,991 | €60,114 | +€5,124 | +9.3% |
| Trade debts | 44 | €2,157 | €10,673 | +€8,516 | +395% |
| Suppliers | 440/4 | €2,157 | €10,673 | +€8,516 | +395% |
| Taxes, remuneration and social security | 45 | €33,971 | €49,442 | +€15,471 | +45.5% |
| Taxes | 450/3 | €33,971 | €36,854 | +€2,883 | +8.5% |
| Remuneration and social security | 454/9 | - | €12,588 | +€12,588 | |
| Other amounts payable | 47/48 | €18,863 | - | -€18,863 | |
| Remuneration, social security and pensions | 62 | - | €31,991 | +€31,991 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,259 | €8,195 | -€64 | -0.8% |
| Other operating charges | 640/8 | €1,105 | €3,329 | +€2,225 | +201% |
| Gross operating margin | 9900 | €105,072 | €110,897 | +€5,825 | +5.5% |
| Operating profit (loss) | 9901 | €95,708 | €67,382 | -€28,326 | -29.6% |
| Financial charges | 65/66B | €2,044 | €2,287 | +€243 | +11.9% |
| Recurring financial charges | 65 | €2,044 | €2,287 | +€243 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €93,664 | €65,094 | -€28,569 | -30.5% |
| Income taxes | 67/77 | €19,038 | €16,902 | -€2,135 | -11.2% |
| Profit (loss) for the period | 9904 | €74,626 | €48,192 | -€26,434 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €74,626 | €48,192 | -€26,434 | -35.4% |
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 27 October 2026 via checked.be.