Andes: 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.
Andes
Largest movements
- Cash +€60,051
up €60,051 (+1,692%), from €3,548 to €63,599
mainly Net result for the year (+€35,202) and Receivables within one year (+€21,197)
- Receivables within one year -€21,197
down €21,197 (-33.8%), from €62,668 to €41,471
of which Trade receivables: -€18,137
- Stocks and contracts -€7,476
down €7,476 (-39.6%), from €18,897 to €11,420
- Tangible fixed assets +€4,607
up €4,607 (+18.3%), from €25,214 to €29,820
of which Furniture and vehicles: +€7,621
- Profit (loss) carried forward +€35,202
up €35,202 (+85.9%), from €40,995 to €76,198
- Trade debts -€8,376
down €8,376 (-29.4%), from €28,517 to €20,141
- Tax, wage and social debts +€4,756
up €4,756 (+27.2%), from €17,512 to €22,268
- Other debts +€3,982
new in 2025: €3,982
- Gross operating margin -€16,602
down €16,602 (-23.4%), from €70,888 to €54,286
- Other operating charges -€2,872
down €2,872 (-83.7%), from €3,433 to €561
- Depreciation +€1,305
up €1,305 (+45.8%), from €2,849 to €4,154
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.
Derived cash bridge
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 | €112,025 | €147,590 | +€35,565 | +31.7% |
| Fixed assets | 21/28 | €25,214 | €29,820 | +€4,607 | +18.3% |
| Tangible fixed assets | 22/27 | €25,214 | €29,820 | +€4,607 | +18.3% |
| Plant, machinery and equipment | 23 | €22,959 | €19,944 | -€3,015 | -13.1% |
| Furniture and vehicles | 24 | €2,255 | €9,876 | +€7,621 | +338% |
| Current assets | 29/58 | €86,811 | €117,769 | +€30,958 | +35.7% |
| Stocks and contracts in progress | 3 | €18,897 | €11,420 | -€7,476 | -39.6% |
| Stocks | 30/36 | €18,897 | €11,420 | -€7,476 | -39.6% |
| Amounts receivable within one year | 40/41 | €62,668 | €41,471 | -€21,197 | -33.8% |
| Trade receivables | 40 | €59,608 | €41,471 | -€18,137 | -30.4% |
| Other amounts receivable | 41 | €3,060 | - | -€3,060 | |
| Cash at bank and in hand | 54/58 | €3,548 | €63,599 | +€60,051 | +1,692% |
| Deferred charges and accrued income | 490/1 | €1,697 | €1,279 | -€418 | -24.7% |
| Total equity and liabilities | 10/49 | €112,025 | €147,590 | +€35,565 | +31.7% |
| Equity | 10/15 | €65,995 | €101,198 | +€35,202 | +53.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,995 | €76,198 | +€35,202 | +85.9% |
| Amounts payable | 17/49 | €46,029 | €46,392 | +€363 | +0.8% |
| Amounts payable within one year | 42/48 | €46,029 | €46,392 | +€363 | +0.8% |
| Trade debts | 44 | €28,517 | €20,141 | -€8,376 | -29.4% |
| Suppliers | 440/4 | €28,517 | €20,141 | -€8,376 | -29.4% |
| Taxes, remuneration and social security | 45 | €17,512 | €22,268 | +€4,756 | +27.2% |
| Taxes | 450/3 | €17,512 | €22,268 | +€4,756 | +27.2% |
| Other amounts payable | 47/48 | - | €3,982 | +€3,982 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,849 | €4,154 | +€1,305 | +45.8% |
| Other operating charges | 640/8 | €3,433 | €561 | -€2,872 | -83.7% |
| Gross operating margin | 9900 | €70,888 | €54,286 | -€16,602 | -23.4% |
| Operating profit (loss) | 9901 | €64,606 | €49,571 | -€15,035 | -23.3% |
| Financial income | 75/76B | €20 | €122 | +€101 | +503% |
| Recurring financial income | 75 | €20 | €122 | +€101 | +503% |
| Financial charges | 65/66B | €146 | €152 | +€6 | +4.3% |
| Recurring financial charges | 65 | €146 | €152 | +€6 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €64,481 | €49,541 | -€14,940 | -23.2% |
| Income taxes | 67/77 | €14,954 | €14,339 | -€615 | -4.1% |
| Profit (loss) for the period | 9904 | €49,527 | €35,202 | -€14,325 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,527 | €35,202 | -€14,325 | -28.9% |
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 23 October 2026 via checked.be.