ANCAPI: 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.
ANCAPI
Largest movements
- Current investments -€43,450
down €43,450 (-20.1%), from €215,641 to €172,191
- Cash +€20,966
up €20,966 (+168.6%), from €12,436 to €33,402
mainly Current investments (+€43,450) and Other debts (+€25,308)
- Tangible fixed assets -€11,724
down €11,724 (-4.1%), from €285,362 to €273,638
of which Land and buildings: -€8,937
- Receivables within one year -€7,903
down €7,903 (-94.6%), from €8,358 to €455
- Reserves -€46,250
down €46,250 (-10.1%), from €458,418 to €412,168
of which Distributable reserves: -€46,250
- Other debts +€25,308
new in 2025: €25,308
- Profit (loss) carried forward -€22,648
down €22,648 (-157.0%), from -€14,426 to -€37,074
- Gross operating margin -€6,652
down €6,652, from €5,487 to -€1,165
- Depreciation -€1,157
down €1,157 (-6.1%), from €18,921 to €17,764
- Financial income -€1,004
down €1,004 (-26.0%), from €3,860 to €2,856
- Other operating charges -€769
down €769 (-12.4%), from €6,212 to €5,443
- Financial charges +€640
up €640 (+381.0%), from €168 to €808
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 | €521,797 | €479,685 | -€42,112 | -8.1% |
| Fixed assets | 21/28 | €285,362 | €273,638 | -€11,724 | -4.1% |
| Tangible fixed assets | 22/27 | €285,362 | €273,638 | -€11,724 | -4.1% |
| Land and buildings | 22 | €275,916 | €266,979 | -€8,937 | -3.2% |
| Furniture and vehicles | 24 | €9,446 | €6,659 | -€2,787 | -29.5% |
| Current assets | 29/58 | €236,434 | €206,047 | -€30,388 | -12.9% |
| Amounts receivable within one year | 40/41 | €8,358 | €455 | -€7,903 | -94.6% |
| Other amounts receivable | 41 | €8,358 | €455 | -€7,903 | -94.6% |
| Current investments | 50/53 | €215,641 | €172,191 | -€43,450 | -20.1% |
| Cash at bank and in hand | 54/58 | €12,436 | €33,402 | +€20,966 | +168.6% |
| Total equity and liabilities | 10/49 | €521,797 | €479,685 | -€42,112 | -8.1% |
| Equity | 10/15 | €518,992 | €450,094 | -€68,898 | -13.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €458,418 | €412,168 | -€46,250 | -10.1% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €450,918 | €404,668 | -€46,250 | -10.3% |
| Profit (loss) carried forward | 14 | -€14,426 | -€37,074 | -€22,648 | -157.0% |
| Amounts payable | 17/49 | €2,805 | €29,591 | +€26,786 | +955.0% |
| Amounts payable within one year | 42/48 | €1,305 | €27,615 | +€26,310 | +2016.5% |
| Trade debts | 44 | €1,305 | €2,307 | +€1,002 | +76.8% |
| Suppliers | 440/4 | €1,305 | €2,307 | +€1,002 | +76.8% |
| Other amounts payable | 47/48 | - | €25,308 | +€25,308 | |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,976 | +€476 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,921 | €17,764 | -€1,157 | -6.1% |
| Other operating charges | 640/8 | €6,212 | €5,443 | -€769 | -12.4% |
| Non-recurring operating charges | 66A | €3,907 | - | -€3,907 | |
| Gross operating margin | 9900 | €5,487 | -€1,165 | -€6,652 | |
| Operating profit (loss) | 9901 | -€23,553 | -€24,372 | -€819 | -3.5% |
| Financial income | 75/76B | €3,860 | €2,856 | -€1,004 | -26.0% |
| Recurring financial income | 75 | €3,860 | €2,856 | -€1,004 | -26.0% |
| Financial charges | 65/66B | €168 | €808 | +€640 | +381.0% |
| Recurring financial charges | 65 | €168 | €808 | +€640 | +381.0% |
| Profit (loss) for the period before taxes | 9903 | -€19,861 | -€22,324 | -€2,463 | -12.4% |
| Income taxes | 67/77 | €313 | €324 | +€12 | +3.8% |
| Profit (loss) for the period | 9904 | -€20,173 | -€22,648 | -€2,475 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,173 | -€22,648 | -€2,475 | -12.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.