ANAPPEL: 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.
ANAPPEL
Largest movements
- Current investments +€100,000
up €100,000 (+200.0%), from €50,000 to €150,000
- Cash +€13,179
up €13,179 (+39.2%), from €33,590 to €46,770
mainly Net result for the year (+€142,080) and Tax, wage and social debts (+€13,400)
- Deferred charges and accrued income +€12,774
up €12,774 (+37.7%), from €33,843 to €46,616
- Tangible fixed assets -€7,747
down €7,747 (-25.5%), from €30,425 to €22,677
of which Furniture and vehicles: -€7,000
- Receivables within one year -€6,530
down €6,530 (-12.4%), from €52,782 to €46,253
- Reserves +€142,080
up €142,080 (+138.3%), from €102,710 to €244,789
- Other debts -€20,285
down €20,285 (-54.0%), from €37,530 to €17,245
- Debts after one year -€18,205
no longer reported in 2025 (was €18,205)
- Tax, wage and social debts +€13,400
up €13,400 (+44.3%), from €30,246 to €43,646
- Current portion of long-term debt -€8,567
no longer reported in 2025 (was €8,567)
- Gross operating margin +€52,655
up €52,655 (+37.2%), from €141,457 to €194,112
- Taxes +€13,370
up €13,370 (+44.5%), from €30,016 to €43,386
- Financial income +€2,062
up €2,062 (+777.7%), from €265 to €2,327
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 | €200,640 | €312,316 | +€111,676 | +55.7% |
| Fixed assets | 21/28 | €30,425 | €22,677 | -€7,747 | -25.5% |
| Tangible fixed assets | 22/27 | €30,425 | €22,677 | -€7,747 | -25.5% |
| Plant, machinery and equipment | 23 | €2,597 | €1,849 | -€747 | -28.8% |
| Furniture and vehicles | 24 | €27,828 | €20,828 | -€7,000 | -25.2% |
| Current assets | 29/58 | €170,215 | €289,639 | +€119,423 | +70.2% |
| Amounts receivable within one year | 40/41 | €52,782 | €46,253 | -€6,530 | -12.4% |
| Trade receivables | 40 | €52,782 | €46,253 | -€6,530 | -12.4% |
| Current investments | 50/53 | €50,000 | €150,000 | +€100,000 | +200.0% |
| Cash at bank and in hand | 54/58 | €33,590 | €46,770 | +€13,179 | +39.2% |
| Deferred charges and accrued income | 490/1 | €33,843 | €46,616 | +€12,774 | +37.7% |
| Total equity and liabilities | 10/49 | €200,640 | €312,316 | +€111,676 | +55.7% |
| Equity | 10/15 | €103,710 | €245,789 | +€142,080 | +137.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €102,710 | €244,789 | +€142,080 | +138.3% |
| Distributable reserves | 133 | €102,710 | €244,789 | +€142,080 | +138.3% |
| Amounts payable | 17/49 | €96,930 | €66,527 | -€30,404 | -31.4% |
| Amounts payable after more than one year | 17 | €18,205 | - | -€18,205 | |
| Financial debts | 170/4 | €18,205 | - | -€18,205 | |
| Amounts payable within one year | 42/48 | €76,881 | €62,569 | -€14,311 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €8,567 | - | -€8,567 | |
| Trade debts | 44 | €537 | €1,677 | +€1,141 | +212.5% |
| Suppliers | 440/4 | €537 | €1,677 | +€1,141 | +212.5% |
| Taxes, remuneration and social security | 45 | €30,246 | €43,646 | +€13,400 | +44.3% |
| Taxes | 450/3 | €30,246 | €43,646 | +€13,400 | +44.3% |
| Other amounts payable | 47/48 | €37,530 | €17,245 | -€20,285 | -54.0% |
| Accrued charges and deferred income | 492/3 | €1,845 | €3,958 | +€2,112 | +114.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,585 | €7,747 | +€163 | +2.1% |
| Other operating charges | 640/8 | - | €252 | +€252 | |
| Gross operating margin | 9900 | €141,457 | €194,112 | +€52,655 | +37.2% |
| Operating profit (loss) | 9901 | €133,872 | €186,112 | +€52,240 | +39.0% |
| Financial income | 75/76B | €265 | €2,327 | +€2,062 | +777.7% |
| Recurring financial income | 75 | €265 | €2,327 | +€2,062 | +777.7% |
| Financial charges | 65/66B | €1,411 | €2,973 | +€1,562 | +110.6% |
| Recurring financial charges | 65 | €1,411 | €2,973 | +€1,562 | +110.6% |
| Profit (loss) for the period before taxes | 9903 | €132,726 | €185,466 | +€52,740 | +39.7% |
| Income taxes | 67/77 | €30,016 | €43,386 | +€13,370 | +44.5% |
| Profit (loss) for the period | 9904 | €102,710 | €142,080 | +€39,370 | +38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,710 | €142,080 | +€39,370 | +38.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.