ANDELIM: 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.
ANDELIM
Largest movements
- Tangible fixed assets -€8,217
down €8,217 (-2.6%), from €311,263 to €303,046
of which Land and buildings: -€9,527
- Receivables within one year -€6,093
down €6,093 (-71.5%), from €8,519 to €2,426
of which Trade receivables: -€3,497
- Trade debts -€8,620
down €8,620 (-53.3%), from €16,187 to €7,567
- Financial income -€244,262
down €244,262 (-98.5%), from €248,053 to €3,791
of which Non-recurring financial income: -€244,860
- Financial charges -€123,634
down €123,634 (-84.9%), from €145,655 to €22,021
of which Non-recurring financial charges: -€121,705
- Taxes -€61,149
down €61,149 (-99.4%), from €61,546 to €397
- Gross operating margin +€13,625
up €13,625 (+24.4%), from €55,856 to €69,481
- Depreciation +€2,011
up €2,011 (+6.0%), from €33,679 to €35,691
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 | €435,236 | €418,130 | -€17,107 | -3.9% |
| Formation expenses | 20 | €3,604 | €2,473 | -€1,131 | -31.4% |
| Fixed assets | 21/28 | €311,263 | €303,046 | -€8,217 | -2.6% |
| Tangible fixed assets | 22/27 | €311,263 | €303,046 | -€8,217 | -2.6% |
| Land and buildings | 22 | €146,571 | €137,043 | -€9,527 | -6.5% |
| Plant, machinery and equipment | 23 | €164,692 | €166,003 | +€1,311 | +0.8% |
| Current assets | 29/58 | €120,369 | €112,611 | -€7,758 | -6.4% |
| Amounts receivable within one year | 40/41 | €8,519 | €2,426 | -€6,093 | -71.5% |
| Trade receivables | 40 | €3,497 | - | -€3,497 | |
| Other amounts receivable | 41 | €5,022 | €2,426 | -€2,596 | -51.7% |
| Cash at bank and in hand | 54/58 | €111,759 | €110,108 | -€1,651 | -1.5% |
| Deferred charges and accrued income | 490/1 | €91 | €77 | -€14 | -15.7% |
| Total equity and liabilities | 10/49 | €435,236 | €418,130 | -€17,107 | -3.9% |
| Equity | 10/15 | €35,630 | €32,595 | -€3,036 | -8.5% |
| Contributions | 10/11 | €325,981 | €325,981 | = | 0.0% |
| Reserves | 13 | €132,219 | €132,219 | = | 0.0% |
| Distributable reserves | 133 | €132,219 | €132,219 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€422,570 | -€425,605 | -€3,036 | -0.7% |
| Amounts payable | 17/49 | €399,606 | €385,535 | -€14,071 | -3.5% |
| Amounts payable after more than one year | 17 | €41,041 | €37,081 | -€3,960 | -9.6% |
| Financial debts | 170/4 | €41,041 | €37,081 | -€3,960 | -9.6% |
| Amounts payable within one year | 42/48 | €358,565 | €347,549 | -€11,016 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €3,889 | €3,960 | +€71 | +1.8% |
| Trade debts | 44 | €16,187 | €7,567 | -€8,620 | -53.3% |
| Suppliers | 440/4 | €16,187 | €7,567 | -€8,620 | -53.3% |
| Taxes, remuneration and social security | 45 | €8,796 | €7,647 | -€1,149 | -13.1% |
| Taxes | 450/3 | €8,796 | €7,647 | -€1,149 | -13.1% |
| Other amounts payable | 47/48 | €329,693 | €328,375 | -€1,318 | -0.4% |
| Accrued charges and deferred income | 492/3 | - | €905 | +€905 | |
| Remuneration, social security and pensions | 62 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,679 | €35,691 | +€2,011 | +6.0% |
| Other operating charges | 640/8 | €18,261 | €17,799 | -€462 | -2.5% |
| Gross operating margin | 9900 | €55,856 | €69,481 | +€13,625 | +24.4% |
| Operating profit (loss) | 9901 | €3,528 | €15,592 | +€12,063 | +341.9% |
| Financial income | 75/76B | €248,053 | €3,791 | -€244,262 | -98.5% |
| Recurring financial income | 75 | €729 | €1,327 | +€598 | +82.0% |
| Non-recurring financial income | 76B | €247,324 | €2,464 | -€244,860 | -99.0% |
| Financial charges | 65/66B | €145,655 | €22,021 | -€123,634 | -84.9% |
| Recurring financial charges | 65 | €23,950 | €22,021 | -€1,929 | -8.1% |
| Non-recurring financial charges | 66B | €121,705 | - | -€121,705 | |
| Profit (loss) for the period before taxes | 9903 | €105,927 | -€2,638 | -€108,565 | |
| Income taxes | 67/77 | €61,546 | €397 | -€61,149 | -99.4% |
| Profit (loss) for the period | 9904 | €44,380 | -€3,036 | -€47,416 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,380 | -€3,036 | -€47,416 |
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 7 October 2026 via checked.be.