ANDES: 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.
ANDES
Largest movements
- Tangible fixed assets -€15,052
down €15,052 (-2.1%), from €718,646 to €703,594
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€13,039
no longer reported in 2026 (was €13,039)
- Gross operating margin +€12,024
up €12,024 (+233.7%), from €5,145 to €17,169
- Other operating charges +€818
up €818 (+21.7%), from €3,771 to €4,589
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,142,184 | €1,144,845 | +€2,661 | +0.2% |
| Fixed assets | 21/28 | €718,646 | €703,594 | -€15,052 | -2.1% |
| Tangible fixed assets | 22/27 | €718,646 | €703,594 | -€15,052 | -2.1% |
| Land and buildings | 22 | €718,646 | €703,594 | -€15,052 | -2.1% |
| Current assets | 29/58 | €423,539 | €441,251 | +€17,713 | +4.2% |
| Amounts receivable within one year | 40/41 | €422,565 | €433,893 | +€11,328 | +2.7% |
| Trade receivables | 40 | €3,586 | €10,515 | +€6,928 | +193.2% |
| Other amounts receivable | 41 | €418,978 | €423,378 | +€4,400 | +1.1% |
| Cash at bank and in hand | 54/58 | €884 | €7,358 | +€6,474 | +732.0% |
| Deferred charges and accrued income | 490/1 | €90 | - | -€90 | |
| Total equity and liabilities | 10/49 | €1,142,184 | €1,144,845 | +€2,661 | +0.2% |
| Equity | 10/15 | €1,141,095 | €1,138,587 | -€2,508 | -0.2% |
| Contributions | 10/11 | €323,000 | €323,000 | = | 0.0% |
| Capital | 10 | €323,000 | €323,000 | = | 0.0% |
| Issued capital | 100 | €323,000 | €323,000 | = | 0.0% |
| Reserves | 13 | €817,300 | €817,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €32,300 | €32,300 | = | 0.0% |
| Legal reserve | 130 | €32,300 | €32,300 | = | 0.0% |
| Distributable reserves | 133 | €785,000 | €785,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €795 | -€1,713 | -€2,508 | |
| Amounts payable | 17/49 | €1,090 | €6,259 | +€5,169 | +474.2% |
| Amounts payable within one year | 42/48 | €1,090 | €6,259 | +€5,169 | +474.2% |
| Trade debts | 44 | €116 | €871 | +€755 | +651.6% |
| Suppliers | 440/4 | €116 | €871 | +€755 | +651.6% |
| Taxes, remuneration and social security | 45 | €474 | €1,688 | +€1,214 | +256.1% |
| Taxes | 450/3 | €474 | €1,688 | +€1,214 | +256.1% |
| Other amounts payable | 47/48 | €500 | €3,700 | +€3,200 | +640.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,161 | €15,052 | -€110 | -0.7% |
| Other operating charges | 640/8 | €3,771 | €4,589 | +€818 | +21.7% |
| Gross operating margin | 9900 | €5,145 | €17,169 | +€12,024 | +233.7% |
| Operating profit (loss) | 9901 | -€13,787 | -€2,471 | +€11,316 | +82.1% |
| Financial income | 75/76B | €13,039 | - | -€13,039 | |
| Recurring financial income | 75 | €13,039 | - | -€13,039 | |
| Financial charges | 65/66B | €31 | €37 | +€7 | +21.3% |
| Recurring financial charges | 65 | €31 | €37 | +€7 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | -€778 | -€2,508 | -€1,730 | -222.2% |
| Profit (loss) for the period | 9904 | -€778 | -€2,508 | -€1,730 | -222.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€778 | -€2,508 | -€1,730 | -222.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.