Anbico: 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.
Anbico
Largest movements
- Current investments -€857,678
down €857,678 (-81.4%), from €1.1m to €195,367
- Stocks and contracts +€741,691
up €741,691 (+3,587%), from €20,675 to €762,366
of which Contracts in progress: +€672,129
- Receivables within one year -€401,008
down €401,008 (-51.5%), from €779,330 to €378,322
of which Trade receivables: -€431,405
- Tangible fixed assets -€26,271
down €26,271 (-20.7%), from €126,877 to €100,606
of which Furniture and vehicles: -€26,913
- Trade debts -€252,402
down €252,402 (-48.4%), from €521,010 to €268,609
- Profit (loss) carried forward -€204,922
down €204,922 (-27.6%), from -€742,454 to -€947,376
- Short-term financial debts -€62,349
down €62,349 (-60.0%), from €103,865 to €41,515
- Tax, wage and social debts -€19,993
down €19,993 (-17.7%), from €112,656 to €92,663
of which Taxes: -€21,570
- Staff costs +€229,816
up €229,816 (+28.4%), from €808,056 to €1.0m
- Gross operating margin -€93,061
down €93,061 (-8.9%), from €1.0m to €950,895
- Taxes -€52,347
down €52,347 (-98.0%), from €53,391 to €1,045
- Financial charges +€16,048
up €16,048 (+70.8%), from €22,676 to €38,723
of which Non-recurring financial charges: +€13,118
- Depreciation +€10,708
up €10,708 (+31.1%), from €34,445 to €45,154
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,984,301 | €1,445,225 | -€539,076 | -27.2% |
| Fixed assets | 21/28 | €126,902 | €100,631 | -€26,271 | -20.7% |
| Tangible fixed assets | 22/27 | €126,877 | €100,606 | -€26,271 | -20.7% |
| Plant, machinery and equipment | 23 | - | €641 | +€641 | |
| Furniture and vehicles | 24 | €126,877 | €99,965 | -€26,913 | -21.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €1,857,399 | €1,344,594 | -€512,805 | -27.6% |
| Stocks and contracts in progress | 3 | €20,675 | €762,366 | +€741,691 | +3,587% |
| Stocks | 30/36 | €20,675 | €90,237 | +€69,562 | +336% |
| Contracts in progress | 37 | - | €672,129 | +€672,129 | |
| Amounts receivable within one year | 40/41 | €779,330 | €378,322 | -€401,008 | -51.5% |
| Trade receivables | 40 | €677,380 | €245,975 | -€431,405 | -63.7% |
| Other amounts receivable | 41 | €101,950 | €132,347 | +€30,397 | +29.8% |
| Current investments | 50/53 | €1,053,045 | €195,367 | -€857,678 | -81.4% |
| Cash at bank and in hand | 54/58 | - | €4,190 | +€4,190 | |
| Deferred charges and accrued income | 490/1 | €4,349 | €4,349 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,984,301 | €1,445,225 | -€539,076 | -27.2% |
| Equity | 10/15 | €1,034,672 | €829,750 | -€204,922 | -19.8% |
| Contributions | 10/11 | €1,650,000 | €1,650,000 | = | 0.0% |
| Capital | 10 | €1,650,000 | €1,650,000 | = | 0.0% |
| Issued capital | 100 | €1,650,000 | €1,650,000 | = | 0.0% |
| Reserves | 13 | €127,126 | €127,126 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,353 | €17,353 | = | 0.0% |
| Legal reserve | 130 | €16,113 | €16,113 | = | 0.0% |
| Other | 1319 | €1,239 | €1,239 | = | 0.0% |
| Distributable reserves | 133 | €109,773 | €109,773 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€742,454 | -€947,376 | -€204,922 | -27.6% |
| Amounts payable | 17/49 | €949,630 | €615,475 | -€334,154 | -35.2% |
| Amounts payable within one year | 42/48 | €949,630 | €615,475 | -€334,154 | -35.2% |
| Financial debts | 43 | €103,865 | €41,515 | -€62,349 | -60.0% |
| Credit institutions | 430/8 | €103,865 | €41,515 | -€62,349 | -60.0% |
| Trade debts | 44 | €521,010 | €268,609 | -€252,402 | -48.4% |
| Suppliers | 440/4 | €521,010 | €268,609 | -€252,402 | -48.4% |
| Advances received on contracts in progress | 46 | €212,098 | €212,098 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €112,656 | €92,663 | -€19,993 | -17.7% |
| Taxes | 450/3 | €24,893 | €3,324 | -€21,570 | -86.6% |
| Remuneration and social security | 454/9 | €87,763 | €89,339 | +€1,576 | +1.8% |
| Other amounts payable | 47/48 | - | €590 | +€590 | |
| Remuneration, social security and pensions | 62 | €808,056 | €1,037,873 | +€229,816 | +28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,445 | €45,154 | +€10,708 | +31.1% |
| Other operating charges | 640/8 | €49,588 | €41,614 | -€7,973 | -16.1% |
| Gross operating margin | 9900 | €1,043,957 | €950,895 | -€93,061 | -8.9% |
| Operating profit (loss) | 9901 | €151,867 | -€173,745 | -€325,613 | |
| Financial income | 75/76B | €4,589 | €8,591 | +€4,001 | +87.2% |
| Recurring financial income | 75 | €4,092 | €5,640 | +€1,548 | +37.8% |
| Non-recurring financial income | 76B | €497 | €2,951 | +€2,453 | +493% |
| Financial charges | 65/66B | €22,676 | €38,723 | +€16,048 | +70.8% |
| Recurring financial charges | 65 | €11,961 | €14,890 | +€2,929 | +24.5% |
| Non-recurring financial charges | 66B | €10,715 | €23,833 | +€13,118 | +122% |
| Profit (loss) for the period before taxes | 9903 | €133,781 | -€203,878 | -€337,659 | |
| Income taxes | 67/77 | €53,391 | €1,045 | -€52,347 | -98.0% |
| Profit (loss) for the period | 9904 | €80,390 | -€204,922 | -€285,312 | |
| Profit (loss) for the period to be appropriated | 9905 | €80,390 | -€204,922 | -€285,312 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.