ANAEBEL: 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.
ANAEBEL
Largest movements
- Current investments -€36,136
no longer reported in 2025 (was €36,136)
- Tangible fixed assets -€14,580
down €14,580 (-32.7%), from €44,521 to €29,942
of which Furniture and vehicles: -€12,513
- Receivables within one year +€7,879
up €7,879 (+6.6%), from €120,153 to €128,032
of which Trade receivables: +€12,681
- Cash -€6,527
down €6,527 (-18.1%), from €36,018 to €29,491
mainly Contributions, distributions and other (-€244,335) and Receivables within one year (-€7,879)
- Deferred charges and accrued income +€4,795
up €4,795 (+635%), from €755 to €5,550
- Reserves -€105,120
down €105,120 (-71.9%), from €146,195 to €41,075
of which Distributable reserves: -€105,120
- Other debts +€60,749
up €60,749 (+128%), from €47,388 to €108,137
- Current portion of long-term debt +€6,017
up €6,017 (+36.6%), from €16,458 to €22,475
- Debts after one year -€5,548
no longer reported in 2025 (was €5,548)
- Gross operating margin +€14,033
up €14,033 (+6.1%), from €229,386 to €243,419
- Staff costs +€11,143
up €11,143 (+46.9%), from €23,760 to €34,903
- Other operating charges +€3,076
up €3,076 (+146%), from €2,101 to €5,178
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 | €237,584 | €193,015 | -€44,569 | -18.8% |
| Fixed assets | 21/28 | €44,521 | €29,942 | -€14,580 | -32.7% |
| Tangible fixed assets | 22/27 | €44,521 | €29,942 | -€14,580 | -32.7% |
| Land and buildings | 22 | €2,212 | €810 | -€1,402 | -63.4% |
| Furniture and vehicles | 24 | €39,056 | €26,543 | -€12,513 | -32.0% |
| Other tangible fixed assets | 26 | €3,253 | €2,588 | -€665 | -20.4% |
| Current assets | 29/58 | €193,062 | €163,073 | -€29,989 | -15.5% |
| Amounts receivable within one year | 40/41 | €120,153 | €128,032 | +€7,879 | +6.6% |
| Trade receivables | 40 | €114,635 | €127,316 | +€12,681 | +11.1% |
| Other amounts receivable | 41 | €5,518 | €716 | -€4,802 | -87.0% |
| Current investments | 50/53 | €36,136 | - | -€36,136 | |
| Cash at bank and in hand | 54/58 | €36,018 | €29,491 | -€6,527 | -18.1% |
| Deferred charges and accrued income | 490/1 | €755 | €5,550 | +€4,795 | +635% |
| Total equity and liabilities | 10/49 | €237,584 | €193,015 | -€44,569 | -18.8% |
| Equity | 10/15 | €164,795 | €59,675 | -€105,120 | -63.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €146,195 | €41,075 | -€105,120 | -71.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €144,335 | €39,215 | -€105,120 | -72.8% |
| Amounts payable | 17/49 | €72,789 | €133,340 | +€60,551 | +83.2% |
| Amounts payable after more than one year | 17 | €5,548 | - | -€5,548 | |
| Financial debts | 170/4 | €5,548 | - | -€5,548 | |
| Amounts payable within one year | 42/48 | €67,241 | €133,340 | +€66,099 | +98.3% |
| Current portion of amounts payable after more than one year | 42 | €16,458 | €22,475 | +€6,017 | +36.6% |
| Taxes, remuneration and social security | 45 | €3,396 | €2,728 | -€668 | -19.7% |
| Taxes | 450/3 | €668 | - | -€668 | |
| Remuneration and social security | 454/9 | €2,728 | €2,728 | = | 0.0% |
| Other amounts payable | 47/48 | €47,388 | €108,137 | +€60,749 | +128% |
| Remuneration, social security and pensions | 62 | €23,760 | €34,903 | +€11,143 | +46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,814 | €19,391 | +€577 | +3.1% |
| Other operating charges | 640/8 | €2,101 | €5,178 | +€3,076 | +146% |
| Gross operating margin | 9900 | €229,386 | €243,419 | +€14,033 | +6.1% |
| Operating profit (loss) | 9901 | €184,711 | €183,947 | -€764 | -0.4% |
| Financial income | 75/76B | €0 | €887 | +€887 | +887,330% |
| Recurring financial income | 75 | €0 | €887 | +€887 | +887,330% |
| Financial charges | 65/66B | €2,935 | €1,194 | -€1,741 | -59.3% |
| Recurring financial charges | 65 | €2,935 | €1,194 | -€1,741 | -59.3% |
| Profit (loss) for the period before taxes | 9903 | €181,776 | €183,640 | +€1,864 | +1.0% |
| Income taxes | 67/77 | €42,392 | €44,425 | +€2,033 | +4.8% |
| Profit (loss) for the period | 9904 | €139,384 | €139,215 | -€169 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €139,384 | €139,215 | -€169 | -0.1% |
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 28 October 2026 via checked.be.