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
- Receivables within one year +€29,477
up €29,477 (+27.6%), from €106,651 to €136,127
of which Other amounts receivable: +€16,381
- Cash -€7,432
down €7,432 (-60.5%), from €12,288 to €4,855
mainly Contributions, distributions and other (-€36,500) and Receivables within one year (-€29,477)
- Other debts +€8,500
up €8,500 (+30.4%), from €28,000 to €36,500
- Short-term financial debts +€6,075
up €6,075 (+29.4%), from €20,640 to €26,714
- Tax, wage and social debts +€5,957
new in 2025: €5,957
- Gross operating margin +€6,706
up €6,706 (+14.9%), from €44,963 to €51,669
- Taxes +€5,933
up €5,933 (+76.9%), from €7,719 to €13,652
- Depreciation -€2,832
down €2,832 (-59.3%), from €4,779 to €1,947
- Financial income +€2,654
up €2,654 (+83.8%), from €3,165 to €5,819
- Financial charges -€2,368
down €2,368 (-45.5%), from €5,205 to €2,837
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 | €134,177 | €154,377 | +€20,200 | +15.1% |
| Fixed assets | 21/28 | €10,182 | €8,913 | -€1,269 | -12.5% |
| Intangible fixed assets | 21 | €310 | - | -€310 | |
| Tangible fixed assets | 22/27 | €5,372 | €4,413 | -€958 | -17.8% |
| Plant, machinery and equipment | 23 | - | €615 | +€615 | |
| Furniture and vehicles | 24 | €5,372 | €3,798 | -€1,574 | -29.3% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €123,995 | €145,464 | +€21,469 | +17.3% |
| Stocks and contracts in progress | 3 | €3,418 | €2,858 | -€560 | -16.4% |
| Stocks | 30/36 | €3,418 | €2,858 | -€560 | -16.4% |
| Amounts receivable within one year | 40/41 | €106,651 | €136,127 | +€29,477 | +27.6% |
| Trade receivables | 40 | €40,986 | €54,081 | +€13,095 | +32.0% |
| Other amounts receivable | 41 | €65,665 | €82,046 | +€16,381 | +24.9% |
| Cash at bank and in hand | 54/58 | €12,288 | €4,855 | -€7,432 | -60.5% |
| Deferred charges and accrued income | 490/1 | €1,638 | €1,622 | -€15 | -0.9% |
| Total equity and liabilities | 10/49 | €134,177 | €154,377 | +€20,200 | +15.1% |
| Equity | 10/15 | €65,442 | €65,493 | +€51 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,860 | €36,860 | = | 0.0% |
| Distributable reserves | 133 | €36,860 | €36,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,982 | €10,033 | +€51 | +0.5% |
| Amounts payable | 17/49 | €68,735 | €88,884 | +€20,149 | +29.3% |
| Amounts payable within one year | 42/48 | €68,235 | €88,884 | +€20,649 | +30.3% |
| Financial debts | 43 | €20,640 | €26,714 | +€6,075 | +29.4% |
| Credit institutions | 430/8 | €20,640 | €26,714 | +€6,075 | +29.4% |
| Trade debts | 44 | €19,595 | €19,713 | +€117 | +0.6% |
| Suppliers | 440/4 | €19,595 | €19,713 | +€117 | +0.6% |
| Taxes, remuneration and social security | 45 | - | €5,957 | +€5,957 | |
| Taxes | 450/3 | - | €5,957 | +€5,957 | |
| Other amounts payable | 47/48 | €28,000 | €36,500 | +€8,500 | +30.4% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,779 | €1,947 | -€2,832 | -59.3% |
| Other operating charges | 640/8 | €1,993 | €2,500 | +€507 | +25.5% |
| Gross operating margin | 9900 | €44,963 | €51,669 | +€6,706 | +14.9% |
| Operating profit (loss) | 9901 | €38,191 | €47,222 | +€9,031 | +23.6% |
| Financial income | 75/76B | €3,165 | €5,819 | +€2,654 | +83.8% |
| Recurring financial income | 75 | €3,165 | €5,819 | +€2,654 | +83.8% |
| Financial charges | 65/66B | €5,205 | €2,837 | -€2,368 | -45.5% |
| Recurring financial charges | 65 | €5,205 | €2,837 | -€2,368 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €36,151 | €50,203 | +€14,052 | +38.9% |
| Income taxes | 67/77 | €7,719 | €13,652 | +€5,933 | +76.9% |
| Profit (loss) for the period | 9904 | €28,432 | €36,551 | +€8,119 | +28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,432 | €36,551 | +€8,119 | +28.6% |
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.