ANDAVA: 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.
What changed
ANDAVA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€61,148
2024 · €96,957-€35,809
Equity
€4.0m
2024 · €3.9m+€61,148
Cash
€496,661
2024 · €659,717-€163,057
Balance sheet total
€8.8m
2024 · €8.9m-€51,579
Largest movements
Assets
- Receivables within one year +€169,426
up €169,426 (+30.2%), from €560,597 to €730,023
of which Other amounts receivable: +€128,840
- Cash -€163,057
down €163,057 (-24.7%), from €659,717 to €496,661
mainly Investment in fixed assets (net) (-€439,445) and Debts after one year (-€178,178)
Equity and liabilities
- Debts after one year -€178,178
down €178,178 (-6.3%), from €2.8m to €2.7m
Income statement
- Gross operating margin -€40,306
down €40,306 (-4.9%), from €827,111 to €786,806
- Other operating charges -€38,586
down €38,586 (-50.8%), from €75,916 to €37,330
- Depreciation +€32,246
up €32,246 (+6.9%), from €470,485 to €502,731
- Taxes -€23,647
down €23,647 (-48.6%), from €48,637 to €24,989
- Financial charges +€15,019
up €15,019 (+11.9%), from €126,461 to €141,479
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.
Result 2024
€96,957
Gross operating margin
-€40,306
Depreciation
-€32,246
Write-downs
-€8,512
Other operating charges
+€38,586
Other operating items
+€5,809
Financial income
-€3,732
Financial charges
-€15,019
Taxes
+€23,647
Deferred taxes and other
-€4,036
Result 2025
€61,148
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€465,890
Investment
-€439,445
Financing
-€189,502
Cash 2024
€659,717
From operations (derived)
+€465,890
Net result for the year
+€61,148
Depreciation
+€502,731
Receivables within one year
-€169,426
Deferred charges and accrued income
-€5,337
Provisions
-€6,887
Trade debts
+€66,036
Tax, wage and social debts
-€18,152
Other debts
+€36,036
Accrued charges and deferred income
-€258
Investment (derived)
-€439,445
Investment in fixed assets (net)
-€439,445
Financing
-€189,502
Debts after one year
-€178,178
Current portion of long-term debt
-€11,324
Cash 2025
€496,661
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,864,826 | €8,813,247 | -€51,579 | -0.6% |
| Fixed assets | 21/28 | €7,587,741 | €7,524,455 | -€63,286 | -0.8% |
| Tangible fixed assets | 22/27 | €7,587,741 | €7,524,455 | -€63,286 | -0.8% |
| Land and buildings | 22 | €6,069,352 | €5,912,425 | -€156,927 | -2.6% |
| Plant, machinery and equipment | 23 | €3,327 | €2,620 | -€707 | -21.3% |
| Furniture and vehicles | 24 | €3,335 | €2,701 | -€634 | -19.0% |
| Other tangible fixed assets | 26 | €1,511,728 | €1,606,710 | +€94,983 | +6.3% |
| Current assets | 29/58 | €1,277,084 | €1,288,791 | +€11,707 | +0.9% |
| Amounts receivable within one year | 40/41 | €560,597 | €730,023 | +€169,426 | +30.2% |
| Trade receivables | 40 | €25,302 | €65,888 | +€40,586 | +160% |
| Other amounts receivable | 41 | €535,294 | €664,135 | +€128,840 | +24.1% |
| Cash at bank and in hand | 54/58 | €659,717 | €496,661 | -€163,057 | -24.7% |
| Deferred charges and accrued income | 490/1 | €56,771 | €62,108 | +€5,337 | +9.4% |
| Total equity and liabilities | 10/49 | €8,864,826 | €8,813,247 | -€51,579 | -0.6% |
| Equity | 10/15 | €3,931,843 | €3,992,991 | +€61,148 | +1.6% |
| Contributions | 10/11 | €1,016,360 | €1,016,360 | = | 0.0% |
| Capital | 10 | €1,016,360 | €1,016,360 | = | 0.0% |
| Issued capital | 100 | €1,016,360 | €1,016,360 | = | 0.0% |
| Reserves | 13 | €699,895 | €679,234 | -€20,662 | -3.0% |
| Non-distributable reserves | 130/1 | €101,636 | €101,636 | = | 0.0% |
| Legal reserve | 130 | €101,636 | €101,636 | = | 0.0% |
| Tax-exempt reserves | 132 | €598,259 | €577,598 | -€20,662 | -3.5% |
| Profit (loss) carried forward | 14 | €2,215,588 | €2,297,398 | +€81,810 | +3.7% |
| Provisions and deferred taxes | 16 | €199,420 | €192,532 | -€6,887 | -3.5% |
| Deferred taxes | 168 | €199,420 | €192,532 | -€6,887 | -3.5% |
| Amounts payable | 17/49 | €4,733,563 | €4,627,723 | -€105,840 | -2.2% |
| Amounts payable after more than one year | 17 | €2,837,459 | €2,659,281 | -€178,178 | -6.3% |
| Financial debts | 170/4 | €2,837,459 | €2,659,281 | -€178,178 | -6.3% |
| Amounts payable within one year | 42/48 | €1,873,126 | €1,945,721 | +€72,595 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €322,602 | €311,277 | -€11,324 | -3.5% |
| Trade debts | 44 | €61,619 | €127,655 | +€66,036 | +107% |
| Suppliers | 440/4 | €61,619 | €127,655 | +€66,036 | +107% |
| Taxes, remuneration and social security | 45 | €36,877 | €18,725 | -€18,152 | -49.2% |
| Taxes | 450/3 | €36,877 | €18,725 | -€18,152 | -49.2% |
| Other amounts payable | 47/48 | €1,452,029 | €1,488,065 | +€36,036 | +2.5% |
| Accrued charges and deferred income | 492/3 | €22,978 | €22,720 | -€258 | -1.1% |
| Non-recurring operating income | 76A | €14,310 | €34,229 | +€19,919 | +139% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €470,485 | €502,731 | +€32,246 | +6.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,425 | €20,938 | +€8,512 | +68.5% |
| Other operating charges | 640/8 | €75,916 | €37,330 | -€38,586 | -50.8% |
| Non-recurring operating charges | 66A | €35,453 | €29,644 | -€5,809 | -16.4% |
| Gross operating margin | 9900 | €827,111 | €786,806 | -€40,306 | -4.9% |
| Operating profit (loss) | 9901 | €232,833 | €196,164 | -€36,669 | -15.7% |
| Financial income | 75/76B | €28,298 | €24,566 | -€3,732 | -13.2% |
| Recurring financial income | 75 | €28,298 | €9,316 | -€18,982 | -67.1% |
| Non-recurring financial income | 76B | - | €15,250 | +€15,250 | |
| Financial charges | 65/66B | €126,461 | €141,479 | +€15,019 | +11.9% |
| Recurring financial charges | 65 | €126,461 | €141,479 | +€15,019 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €134,670 | €79,250 | -€55,420 | -41.2% |
| Transfer from deferred taxes | 780 | €10,923 | €10,700 | -€224 | -2.0% |
| Transfer to deferred taxes | 680 | €0 | €3,813 | +€3,813 | |
| Income taxes | 67/77 | €48,637 | €24,989 | -€23,647 | -48.6% |
| Profit (loss) for the period | 9904 | €96,957 | €61,148 | -€35,809 | -36.9% |
| Transfer from tax-exempt reserves | 789 | €32,770 | €32,099 | -€671 | -2.0% |
| Transfer to tax-exempt reserves | 689 | €0 | €11,438 | +€11,438 | |
| Profit (loss) for the period to be appropriated | 9905 | €129,726 | €81,810 | -€47,917 | -36.9% |
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 13 October 2026 via checked.be.