ANAP: 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.
ANAP
Largest movements
- Tangible fixed assets +€43,720
up €43,720 (+505%), from €8,657 to €52,377
of which Furniture and vehicles: +€41,965
- Cash +€23,568
up €23,568 (+103%), from €22,809 to €46,377
mainly Net result for the year (+€101,354) and Receivables within one year (+€16,921)
- Receivables within one year -€16,921
down €16,921 (-93.2%), from €18,163 to €1,242
- Reserves +€101,354
up €101,354 (+15.7%), from €644,304 to €745,658
- Debts after one year -€31,905
down €31,905 (-49.1%), from €64,998 to €33,093
- Other debts -€23,420
down €23,420 (-5.1%), from €457,159 to €433,739
- Gross operating margin +€14,514
up €14,514 (+11.9%), from €121,588 to €136,101
- Taxes +€6,245
up €6,245 (+26.5%), from €23,575 to €29,820
- Depreciation -€5,028
down €5,028 (-51.5%), from €9,754 to €4,727
- Financial charges -€3,417
down €3,417 (-9.3%), from €36,687 to €33,270
- Financial income +€1,555
up €1,555 (+4.7%), from €32,807 to €34,362
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 | €1,317,118 | €1,368,921 | +€51,803 | +3.9% |
| Fixed assets | 21/28 | €1,276,147 | €1,319,867 | +€43,720 | +3.4% |
| Tangible fixed assets | 22/27 | €8,657 | €52,377 | +€43,720 | +505% |
| Plant, machinery and equipment | 23 | - | €1,755 | +€1,755 | |
| Furniture and vehicles | 24 | €8,657 | €50,622 | +€41,965 | +485% |
| Financial fixed assets | 28 | €1,267,490 | €1,267,490 | = | 0.0% |
| Current assets | 29/58 | €40,971 | €49,054 | +€8,083 | +19.7% |
| Amounts receivable within one year | 40/41 | €18,163 | €1,242 | -€16,921 | -93.2% |
| Trade receivables | 40 | €18,163 | €1,242 | -€16,921 | -93.2% |
| Cash at bank and in hand | 54/58 | €22,809 | €46,377 | +€23,568 | +103% |
| Deferred charges and accrued income | 490/1 | - | €1,436 | +€1,436 | |
| Total equity and liabilities | 10/49 | €1,317,118 | €1,368,921 | +€51,803 | +3.9% |
| Equity | 10/15 | €663,333 | €764,687 | +€101,354 | +15.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €644,304 | €745,658 | +€101,354 | +15.7% |
| Distributable reserves | 133 | €644,304 | €745,658 | +€101,354 | +15.7% |
| Profit (loss) carried forward | 14 | €429 | €429 | = | 0.0% |
| Amounts payable | 17/49 | €653,785 | €604,234 | -€49,551 | -7.6% |
| Amounts payable after more than one year | 17 | €64,998 | €33,093 | -€31,905 | -49.1% |
| Financial debts | 170/4 | €64,998 | €33,093 | -€31,905 | -49.1% |
| Amounts payable within one year | 42/48 | €567,593 | €551,353 | -€16,240 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €74,613 | €79,179 | +€4,565 | +6.1% |
| Trade debts | 44 | €3,093 | €6,740 | +€3,647 | +118% |
| Suppliers | 440/4 | €3,093 | €6,740 | +€3,647 | +118% |
| Taxes, remuneration and social security | 45 | €32,728 | €31,696 | -€1,032 | -3.2% |
| Taxes | 450/3 | €32,728 | €31,696 | -€1,032 | -3.2% |
| Other amounts payable | 47/48 | €457,159 | €433,739 | -€23,420 | -5.1% |
| Accrued charges and deferred income | 492/3 | €21,194 | €19,787 | -€1,407 | -6.6% |
| Non-recurring operating income | 76A | - | €16,420 | +€16,420 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,754 | €4,727 | -€5,028 | -51.5% |
| Other operating charges | 640/8 | €1,183 | €1,293 | +€110 | +9.3% |
| Gross operating margin | 9900 | €121,588 | €136,101 | +€14,514 | +11.9% |
| Operating profit (loss) | 9901 | €110,650 | €130,082 | +€19,432 | +17.6% |
| Financial income | 75/76B | €32,807 | €34,362 | +€1,555 | +4.7% |
| Recurring financial income | 75 | €32,807 | €34,362 | +€1,555 | +4.7% |
| Financial charges | 65/66B | €36,687 | €33,270 | -€3,417 | -9.3% |
| Recurring financial charges | 65 | €36,687 | €33,270 | -€3,417 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €106,771 | €131,174 | +€24,403 | +22.9% |
| Income taxes | 67/77 | €23,575 | €29,820 | +€6,245 | +26.5% |
| Profit (loss) for the period | 9904 | €83,196 | €101,354 | +€18,158 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,196 | €101,354 | +€18,158 | +21.8% |
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 25 October 2026 via checked.be.