ANDATEL: 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.
ANDATEL
Largest movements
- Receivables within one year +€403,939
new in 2025: €403,939
of which Trade receivables: +€403,743
- Tangible fixed assets +€63,904
new in 2025: €63,904
of which Plant, machinery and equipment: +€61,550
- Cash +€13,692
up €13,692 (+493.4%), from €2,775 to €16,467
mainly Tax, wage and social debts (+€204,476) and Trade debts (+€134,300)
- Tax, wage and social debts +€204,476
up €204,476 (+13237.9%), from €1,545 to €206,021
of which Taxes: +€127,058
- Trade debts +€134,300
up €134,300 (+326683.3%), from €41 to €134,341
- Other debts +€71,500
up €71,500 (+1833.3%), from €3,900 to €75,400
- Reserves +€48,203
up €48,203 (+2592.7%), from €1,859 to €50,062
of which Distributable reserves: +€48,203
- Profit (loss) carried forward +€23,162
up €23,162, from -€23,162 to €0
- Gross operating margin +€577,147
up €577,147 (+3331.6%), from €17,323 to €594,470
- Staff costs +€468,753
up €468,753 (+16038.9%), from €2,923 to €471,675
- Taxes +€22,410
up €22,410 (+1970.4%), from €1,137 to €23,548
- Depreciation +€17,348
new in 2025: €17,348
- Financial charges +€9,138
up €9,138 (+4848.1%), from €188 to €9,327
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 | €2,775 | €484,416 | +€481,641 | +17356.2% |
| Fixed assets | 21/28 | - | €63,904 | +€63,904 | |
| Tangible fixed assets | 22/27 | - | €63,904 | +€63,904 | |
| Plant, machinery and equipment | 23 | - | €61,550 | +€61,550 | |
| Furniture and vehicles | 24 | - | €2,355 | +€2,355 | |
| Current assets | 29/58 | €2,775 | €420,511 | +€417,736 | +15053.4% |
| Amounts receivable within one year | 40/41 | - | €403,939 | +€403,939 | |
| Trade receivables | 40 | - | €403,743 | +€403,743 | |
| Other amounts receivable | 41 | - | €196 | +€196 | |
| Cash at bank and in hand | 54/58 | €2,775 | €16,467 | +€13,692 | +493.4% |
| Deferred charges and accrued income | 490/1 | - | €105 | +€105 | |
| Total equity and liabilities | 10/49 | €2,775 | €484,416 | +€481,641 | +17356.2% |
| Equity | 10/15 | -€2,711 | €68,654 | +€71,365 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €50,062 | +€48,203 | +2592.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | - | €48,203 | +€48,203 | |
| Profit (loss) carried forward | 14 | -€23,162 | €0 | +€23,162 | |
| Amounts payable | 17/49 | €5,486 | €415,761 | +€410,275 | +7479.0% |
| Amounts payable within one year | 42/48 | €5,486 | €415,761 | +€410,275 | +7479.0% |
| Trade debts | 44 | €41 | €134,341 | +€134,300 | +326683.3% |
| Suppliers | 440/4 | €41 | €134,341 | +€134,300 | +326683.3% |
| Taxes, remuneration and social security | 45 | €1,545 | €206,021 | +€204,476 | +13237.9% |
| Taxes | 450/3 | €1,201 | €128,258 | +€127,058 | +10583.2% |
| Remuneration and social security | 454/9 | €344 | €77,762 | +€77,418 | +22501.4% |
| Other amounts payable | 47/48 | €3,900 | €75,400 | +€71,500 | +1833.3% |
| Remuneration, social security and pensions | 62 | €2,923 | €471,675 | +€468,753 | +16038.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €17,348 | +€17,348 | |
| Other operating charges | 640/8 | €635 | €1,208 | +€573 | +90.3% |
| Gross operating margin | 9900 | €17,323 | €594,470 | +€577,147 | +3331.6% |
| Operating profit (loss) | 9901 | €13,766 | €104,239 | +€90,474 | +657.2% |
| Financial charges | 65/66B | €188 | €9,327 | +€9,138 | +4848.1% |
| Recurring financial charges | 65 | €188 | €9,327 | +€9,138 | +4848.1% |
| Profit (loss) for the period before taxes | 9903 | €13,577 | €94,913 | +€81,335 | +599.0% |
| Income taxes | 67/77 | €1,137 | €23,548 | +€22,410 | +1970.4% |
| Profit (loss) for the period | 9904 | €12,440 | €71,365 | +€58,925 | +473.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,440 | €71,365 | +€58,925 | +473.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.