ANDERS: 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.
ANDERS
Largest movements
- Tangible fixed assets -€29,790
down €29,790 (-6.5%), from €458,567 to €428,777
of which Plant, machinery and equipment: -€21,061
- Cash +€28,368
up €28,368 (+306.0%), from €9,270 to €37,639
mainly Other debts (+€69,988) and Depreciation (+€57,462)
- Intangible fixed assets -€16,000
down €16,000 (-28.6%), from €55,890 to €39,890
- Other debts +€69,988
up €69,988 (+22.6%), from €310,089 to €380,077
- Profit (loss) carried forward -€67,882
down €67,882 (-65.3%), from -€103,967 to -€171,849
- Trade debts -€17,429
down €17,429 (-72.3%), from €24,095 to €6,667
- Gross operating margin -€35,001
down €35,001 (-72.9%), from €47,996 to €12,995
- Staff costs -€24,010
down €24,010 (-74.1%), from €32,413 to €8,404
- Other operating charges +€10,018
up €10,018 (+479.0%), from €2,092 to €12,110
- Depreciation +€8,700
up €8,700 (+17.8%), from €48,762 to €57,462
- Financial charges +€1,299
up €1,299 (+48.1%), from €2,700 to €3,999
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 | €552,359 | €533,275 | -€19,084 | -3.5% |
| Fixed assets | 21/28 | €514,457 | €468,667 | -€45,790 | -8.9% |
| Intangible fixed assets | 21 | €55,890 | €39,890 | -€16,000 | -28.6% |
| Tangible fixed assets | 22/27 | €458,567 | €428,777 | -€29,790 | -6.5% |
| Land and buildings | 22 | €295,913 | €287,385 | -€8,529 | -2.9% |
| Plant, machinery and equipment | 23 | €161,679 | €140,618 | -€21,061 | -13.0% |
| Furniture and vehicles | 24 | €974 | €774 | -€200 | -20.5% |
| Current assets | 29/58 | €37,902 | €64,608 | +€26,706 | +70.5% |
| Amounts receivable within one year | 40/41 | €22,782 | €24,331 | +€1,548 | +6.8% |
| Trade receivables | 40 | €2,487 | €1,841 | -€646 | -26.0% |
| Other amounts receivable | 41 | €20,295 | €22,489 | +€2,194 | +10.8% |
| Cash at bank and in hand | 54/58 | €9,270 | €37,639 | +€28,368 | +306.0% |
| Deferred charges and accrued income | 490/1 | €5,850 | €2,639 | -€3,211 | -54.9% |
| Total equity and liabilities | 10/49 | €552,359 | €533,275 | -€19,084 | -3.5% |
| Equity | 10/15 | €212,583 | €144,701 | -€67,882 | -31.9% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €16,550 | €16,550 | = | 0.0% |
| Distributable reserves | 133 | €16,550 | €16,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€103,967 | -€171,849 | -€67,882 | -65.3% |
| Amounts payable | 17/49 | €339,776 | €388,574 | +€48,798 | +14.4% |
| Amounts payable within one year | 42/48 | €339,776 | €388,574 | +€48,798 | +14.4% |
| Trade debts | 44 | €24,095 | €6,667 | -€17,429 | -72.3% |
| Suppliers | 440/4 | €24,095 | €6,667 | -€17,429 | -72.3% |
| Taxes, remuneration and social security | 45 | €5,591 | €1,829 | -€3,762 | -67.3% |
| Taxes | 450/3 | €2,137 | €1,829 | -€307 | -14.4% |
| Remuneration and social security | 454/9 | €3,454 | €0 | -€3,454 | -100.0% |
| Other amounts payable | 47/48 | €310,089 | €380,077 | +€69,988 | +22.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €32,413 | €8,404 | -€24,010 | -74.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,762 | €57,462 | +€8,700 | +17.8% |
| Other operating charges | 640/8 | €2,092 | €12,110 | +€10,018 | +479.0% |
| Gross operating margin | 9900 | €47,996 | €12,995 | -€35,001 | -72.9% |
| Operating profit (loss) | 9901 | -€35,271 | -€64,981 | -€29,710 | -84.2% |
| Financial income | 75/76B | €1,069 | €1,098 | +€29 | +2.7% |
| Recurring financial income | 75 | €1,069 | €1,098 | +€29 | +2.7% |
| Financial charges | 65/66B | €2,700 | €3,999 | +€1,299 | +48.1% |
| Recurring financial charges | 65 | €2,700 | €3,999 | +€1,299 | +48.1% |
| Profit (loss) for the period before taxes | 9903 | -€36,902 | -€67,882 | -€30,980 | -84.0% |
| Profit (loss) for the period | 9904 | -€36,902 | -€67,882 | -€30,980 | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,902 | -€67,882 | -€30,980 | -84.0% |
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 5 October 2026 via checked.be.