ANDERS: 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.
ANDERS
Largest movements
- Cash -€121,953
down €121,953 (-73.9%), from €165,095 to €43,143
mainly Net result for the year (-€124,177) and Tax, wage and social debts (-€11,365)
- Tangible fixed assets -€17,946
down €17,946 (-39.0%), from €46,030 to €28,085
- Receivables within one year -€4,626
down €4,626 (-96.6%), from €4,789 to €163
of which Other amounts receivable: -€4,324
- Reserves -€124,177
down €124,177 (-63.9%), from €194,378 to €70,201
- Tax, wage and social debts -€11,365
down €11,365 (-98.7%), from €11,519 to €153
- Other debts -€10,348
down €10,348 (-96.1%), from €10,769 to €421
- Financial charges +€84,266
up €84,266 (+5300.5%), from €1,590 to €85,856
- Financial income -€65,075
down €65,075 (-100.0%), from €65,077 to €2
- Gross operating margin -€62,445
down €62,445, from €36,108 to -€26,337
- Taxes -€21,125
down €21,125 (-98.2%), from €21,519 to €393
- Depreciation -€5,808
down €5,808 (-33.6%), from €17,281 to €11,473
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 | €217,464 | €71,907 | -€145,557 | -66.9% |
| Fixed assets | 21/28 | €46,030 | €28,085 | -€17,946 | -39.0% |
| Tangible fixed assets | 22/27 | €46,030 | €28,085 | -€17,946 | -39.0% |
| Furniture and vehicles | 24 | €46,030 | €28,085 | -€17,946 | -39.0% |
| Current assets | 29/58 | €171,433 | €43,822 | -€127,611 | -74.4% |
| Amounts receivable within one year | 40/41 | €4,789 | €163 | -€4,626 | -96.6% |
| Trade receivables | 40 | €303 | - | -€303 | |
| Other amounts receivable | 41 | €4,487 | €163 | -€4,324 | -96.4% |
| Cash at bank and in hand | 54/58 | €165,095 | €43,143 | -€121,953 | -73.9% |
| Deferred charges and accrued income | 490/1 | €1,549 | €516 | -€1,033 | -66.7% |
| Total equity and liabilities | 10/49 | €217,464 | €71,907 | -€145,557 | -66.9% |
| Equity | 10/15 | €194,379 | €70,202 | -€124,177 | -63.9% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €194,378 | €70,201 | -€124,177 | -63.9% |
| Distributable reserves | 133 | €194,378 | €70,201 | -€124,177 | -63.9% |
| Amounts payable | 17/49 | €23,084 | €1,705 | -€21,380 | -92.6% |
| Amounts payable within one year | 42/48 | €23,084 | €1,705 | -€21,380 | -92.6% |
| Trade debts | 44 | €797 | €1,131 | +€334 | +41.8% |
| Suppliers | 440/4 | €797 | €1,131 | +€334 | +41.8% |
| Taxes, remuneration and social security | 45 | €11,519 | €153 | -€11,365 | -98.7% |
| Taxes | 450/3 | €11,519 | €153 | -€11,365 | -98.7% |
| Other amounts payable | 47/48 | €10,769 | €421 | -€10,348 | -96.1% |
| Non-recurring operating income | 76A | - | €884 | +€884 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,281 | €11,473 | -€5,808 | -33.6% |
| Other operating charges | 640/8 | €181 | €120 | -€61 | -33.7% |
| Gross operating margin | 9900 | €36,108 | -€26,337 | -€62,445 | |
| Operating profit (loss) | 9901 | €18,646 | -€37,930 | -€56,576 | |
| Financial income | 75/76B | €65,077 | €2 | -€65,075 | -100.0% |
| Recurring financial income | 75 | €65,077 | €2 | -€65,075 | -100.0% |
| Financial charges | 65/66B | €1,590 | €85,856 | +€84,266 | +5300.5% |
| Recurring financial charges | 65 | €1,590 | €85,856 | +€84,266 | +5300.5% |
| Profit (loss) for the period before taxes | 9903 | €82,133 | -€123,784 | -€205,917 | |
| Income taxes | 67/77 | €21,519 | €393 | -€21,125 | -98.2% |
| Profit (loss) for the period | 9904 | €60,615 | -€124,177 | -€184,792 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,615 | -€124,177 | -€184,792 |
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 10 October 2026 via checked.be.