ANBEM: 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.
ANBEM
Largest movements
- Receivables after one year -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Current investments +€48,808
up €48,808 (+32.4%), from €150,604 to €199,412
- Cash -€28,856
down €28,856 (-4.8%), from €602,745 to €573,890
mainly Contributions, distributions and other (-€287,677) and Current investments (-€48,808)
- Tangible fixed assets -€26,031
down €26,031 (-19.6%), from €133,027 to €106,997
of which Leasing and similar rights: -€16,631
- Reserves -€194,520
down €194,520 (-21.3%), from €914,257 to €719,737
of which Distributable reserves: -€194,520
- Debts after one year -€17,332
down €17,332 (-14.9%), from €116,624 to €99,292
- Financial income -€21,236
down €21,236 (-76.2%), from €27,867 to €6,631
- Gross operating margin +€19,214
up €19,214 (+13.1%), from €146,900 to €166,113
- Financial charges +€3,704
up €3,704 (+52.4%), from €7,068 to €10,771
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 | €1,107,515 | €887,690 | -€219,825 | -19.8% |
| Fixed assets | 21/28 | €133,027 | €106,997 | -€26,031 | -19.6% |
| Tangible fixed assets | 22/27 | €133,027 | €106,997 | -€26,031 | -19.6% |
| Plant, machinery and equipment | 23 | €1,787 | €1,485 | -€302 | -16.9% |
| Furniture and vehicles | 24 | €12,439 | €4,535 | -€7,904 | -63.5% |
| Leasing and similar rights | 25 | €116,414 | €99,783 | -€16,631 | -14.3% |
| Other tangible fixed assets | 26 | €2,388 | €1,194 | -€1,194 | -50.0% |
| Current assets | 29/58 | €974,487 | €780,693 | -€193,794 | -19.9% |
| Amounts receivable after more than one year | 29 | €200,000 | €0 | -€200,000 | -100.0% |
| Other amounts receivable | 291 | €200,000 | €0 | -€200,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €12,387 | €6,886 | -€5,500 | -44.4% |
| Trade receivables | 40 | €9,690 | €5,859 | -€3,831 | -39.5% |
| Other amounts receivable | 41 | €2,696 | €1,027 | -€1,670 | -61.9% |
| Current investments | 50/53 | €150,604 | €199,412 | +€48,808 | +32.4% |
| Cash at bank and in hand | 54/58 | €602,745 | €573,890 | -€28,856 | -4.8% |
| Deferred charges and accrued income | 490/1 | €8,751 | €505 | -€8,246 | -94.2% |
| Total equity and liabilities | 10/49 | €1,107,515 | €887,690 | -€219,825 | -19.8% |
| Equity | 10/15 | €932,857 | €738,337 | -€194,520 | -20.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €914,257 | €719,737 | -€194,520 | -21.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,295 | €9,295 | = | 0.0% |
| Distributable reserves | 133 | €903,102 | €708,582 | -€194,520 | -21.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €174,658 | €149,353 | -€25,305 | -14.5% |
| Amounts payable after more than one year | 17 | €116,624 | €99,292 | -€17,332 | -14.9% |
| Financial debts | 170/4 | €116,624 | €99,292 | -€17,332 | -14.9% |
| Amounts payable within one year | 42/48 | €56,417 | €49,228 | -€7,189 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €16,859 | €15,636 | -€1,222 | -7.3% |
| Trade debts | 44 | €3,657 | €7,959 | +€4,302 | +117.6% |
| Suppliers | 440/4 | €3,657 | €7,959 | +€4,302 | +117.6% |
| Taxes, remuneration and social security | 45 | €11,165 | €10,212 | -€952 | -8.5% |
| Taxes | 450/3 | €11,165 | €10,212 | -€952 | -8.5% |
| Other amounts payable | 47/48 | €24,736 | €15,420 | -€9,316 | -37.7% |
| Accrued charges and deferred income | 492/3 | €1,618 | €833 | -€784 | -48.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,583 | €26,031 | +€448 | +1.7% |
| Other operating charges | 640/8 | €2,521 | €2,526 | +€6 | +0.2% |
| Gross operating margin | 9900 | €146,900 | €166,113 | +€19,214 | +13.1% |
| Operating profit (loss) | 9901 | €118,796 | €137,557 | +€18,761 | +15.8% |
| Financial income | 75/76B | €27,867 | €6,631 | -€21,236 | -76.2% |
| Recurring financial income | 75 | €27,867 | €6,631 | -€21,236 | -76.2% |
| Financial charges | 65/66B | €7,068 | €10,771 | +€3,704 | +52.4% |
| Recurring financial charges | 65 | €7,068 | €10,771 | +€3,704 | +52.4% |
| Profit (loss) for the period before taxes | 9903 | €139,595 | €133,416 | -€6,179 | -4.4% |
| Income taxes | 67/77 | €38,626 | €40,259 | +€1,633 | +4.2% |
| Profit (loss) for the period | 9904 | €100,969 | €93,157 | -€7,812 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €100,969 | €93,157 | -€7,812 | -7.7% |
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 12 October 2026 via checked.be.