ANABASIS: 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.
ANABASIS
Largest movements
- Tangible fixed assets +€48,411
up €48,411 (+333.0%), from €14,539 to €62,950
of which Furniture and vehicles: +€48,411
- Current investments -€31,713
down €31,713 (-11.8%), from €267,777 to €236,064
- Cash -€11,585
down €11,585 (-39.0%), from €29,675 to €18,090
mainly Investment in fixed assets (net) (-€50,227) and Stocks and contracts (-€11,000)
- Stocks and contracts +€11,000
new in 2025: €11,000
- Receivables within one year +€5,690
up €5,690 (+41.3%), from €13,789 to €19,479
of which Other amounts receivable: +€5,134
- Reserves +€13,923
up €13,923 (+9.1%), from €152,761 to €166,685
of which Distributable reserves: +€13,923
- Trade debts +€11,411
up €11,411 (+2931.8%), from €389 to €11,800
- Gross operating margin +€41,553
up €41,553, from -€35,789 to €5,765
- Financial income -€26,424
down €26,424 (-67.4%), from €39,186 to €12,763
- Depreciation +€1,816
new in 2025: €1,816
- Taxes +€1,209
up €1,209 (+339.3%), from €356 to €1,566
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 | €327,400 | €349,469 | +€22,069 | +6.7% |
| Fixed assets | 21/28 | €14,539 | €62,950 | +€48,411 | +333.0% |
| Tangible fixed assets | 22/27 | €14,539 | €62,950 | +€48,411 | +333.0% |
| Land and buildings | 22 | €14,539 | €14,539 | = | 0.0% |
| Furniture and vehicles | 24 | - | €48,411 | +€48,411 | |
| Current assets | 29/58 | €312,861 | €286,519 | -€26,342 | -8.4% |
| Stocks and contracts in progress | 3 | - | €11,000 | +€11,000 | |
| Stocks | 30/36 | - | €11,000 | +€11,000 | |
| Amounts receivable within one year | 40/41 | €13,789 | €19,479 | +€5,690 | +41.3% |
| Trade receivables | 40 | €7,724 | €8,281 | +€557 | +7.2% |
| Other amounts receivable | 41 | €6,065 | €11,198 | +€5,134 | +84.6% |
| Current investments | 50/53 | €267,777 | €236,064 | -€31,713 | -11.8% |
| Cash at bank and in hand | 54/58 | €29,675 | €18,090 | -€11,585 | -39.0% |
| Deferred charges and accrued income | 490/1 | €1,620 | €1,886 | +€266 | +16.4% |
| Total equity and liabilities | 10/49 | €327,400 | €349,469 | +€22,069 | +6.7% |
| Equity | 10/15 | €321,427 | €335,350 | +€13,923 | +4.3% |
| Contributions | 10/11 | €168,665 | €168,665 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Outside capital | 11 | €18,665 | €18,665 | = | 0.0% |
| Share premium | 1100/10 | €18,665 | €18,665 | = | 0.0% |
| Reserves | 13 | €152,761 | €166,685 | +€13,923 | +9.1% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €992 | €992 | = | 0.0% |
| Distributable reserves | 133 | €136,770 | €150,693 | +€13,923 | +10.2% |
| Amounts payable | 17/49 | €5,973 | €14,119 | +€8,146 | +136.4% |
| Amounts payable within one year | 42/48 | €5,973 | €14,119 | +€8,146 | +136.4% |
| Trade debts | 44 | €389 | €11,800 | +€11,411 | +2931.8% |
| Suppliers | 440/4 | €389 | €11,800 | +€11,411 | +2931.8% |
| Taxes, remuneration and social security | 45 | €1,162 | - | -€1,162 | |
| Taxes | 450/3 | €1,162 | - | -€1,162 | |
| Other amounts payable | 47/48 | €4,422 | €2,318 | -€2,103 | -47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,816 | +€1,816 | |
| Other operating charges | 640/8 | €1,088 | €1,181 | +€94 | +8.6% |
| Gross operating margin | 9900 | -€35,789 | €5,765 | +€41,553 | |
| Operating profit (loss) | 9901 | -€36,876 | €2,767 | +€39,643 | |
| Financial income | 75/76B | €39,186 | €12,763 | -€26,424 | -67.4% |
| Recurring financial income | 75 | €39,186 | €12,763 | -€26,424 | -67.4% |
| Financial charges | 65/66B | €42 | €40 | -€1 | -2.9% |
| Recurring financial charges | 65 | €42 | €40 | -€1 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €2,268 | €15,489 | +€13,221 | +582.9% |
| Income taxes | 67/77 | €356 | €1,566 | +€1,209 | +339.3% |
| Profit (loss) for the period | 9904 | €1,912 | €13,923 | +€12,011 | +628.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,912 | €13,923 | +€12,011 | +628.3% |
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 6 October 2026 via checked.be.