ANDI: 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.
ANDI
Largest movements
- Tangible fixed assets +€21,949
up €21,949 (+5.2%), from €420,576 to €442,525
of which Land and buildings: +€22,152
- Cash -€6,852
down €6,852 (-48.4%), from €14,151 to €7,299
mainly Investment in fixed assets (net) (-€58,741) and Net result for the year (-€14,154)
- Other debts +€31,488
up €31,488 (+14.2%), from €221,937 to €253,425
- Profit (loss) carried forward -€14,154
down €14,154 (-9.1%), from -€156,378 to -€170,531
- Gross operating margin +€9,221
up €9,221 (+26.8%), from €34,426 to €43,647
- Financial charges -€3,089
down €3,089 (-18.3%), from €16,907 to €13,819
- Depreciation -€852
down €852 (-2.3%), from €37,643 to €36,792
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 | €439,654 | €454,774 | +€15,120 | +3.4% |
| Fixed assets | 21/28 | €421,011 | €442,960 | +€21,949 | +5.2% |
| Tangible fixed assets | 22/27 | €420,576 | €442,525 | +€21,949 | +5.2% |
| Land and buildings | 22 | €420,373 | €442,525 | +€22,152 | +5.3% |
| Plant, machinery and equipment | 23 | €84 | - | -€84 | |
| Furniture and vehicles | 24 | €120 | - | -€120 | |
| Financial fixed assets | 28 | €435 | €435 | = | 0.0% |
| Current assets | 29/58 | €18,643 | €11,814 | -€6,829 | -36.6% |
| Amounts receivable within one year | 40/41 | €2,539 | €2,539 | = | 0.0% |
| Trade receivables | 40 | €2,539 | €2,539 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,151 | €7,299 | -€6,852 | -48.4% |
| Deferred charges and accrued income | 490/1 | €1,953 | €1,976 | +€23 | +1.2% |
| Total equity and liabilities | 10/49 | €439,654 | €454,774 | +€15,120 | +3.4% |
| Equity | 10/15 | €194,047 | €179,893 | -€14,154 | -7.3% |
| Contributions | 10/11 | €318,568 | €318,568 | = | 0.0% |
| Capital | 10 | €318,568 | €318,568 | = | 0.0% |
| Issued capital | 100 | €318,568 | €318,568 | = | 0.0% |
| Reserves | 13 | €31,857 | €31,857 | = | 0.0% |
| Non-distributable reserves | 130/1 | €31,857 | €31,857 | = | 0.0% |
| Legal reserve | 130 | €31,857 | €31,857 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€156,378 | -€170,531 | -€14,154 | -9.1% |
| Amounts payable | 17/49 | €245,607 | €274,881 | +€29,274 | +11.9% |
| Amounts payable after more than one year | 17 | €12,395 | €12,395 | = | 0.0% |
| Financial debts | 170/4 | €12,395 | €12,395 | = | 0.0% |
| Amounts payable within one year | 42/48 | €230,418 | €260,736 | +€30,318 | +13.2% |
| Trade debts | 44 | €3,341 | €3,190 | -€151 | -4.5% |
| Suppliers | 440/4 | €3,341 | €3,190 | -€151 | -4.5% |
| Taxes, remuneration and social security | 45 | €5,140 | €4,122 | -€1,018 | -19.8% |
| Taxes | 450/3 | €87 | - | -€87 | |
| Remuneration and social security | 454/9 | €5,053 | €4,122 | -€931 | -18.4% |
| Other amounts payable | 47/48 | €221,937 | €253,425 | +€31,488 | +14.2% |
| Accrued charges and deferred income | 492/3 | €2,794 | €1,750 | -€1,044 | -37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,643 | €36,792 | -€852 | -2.3% |
| Other operating charges | 640/8 | €7,008 | €7,190 | +€182 | +2.6% |
| Gross operating margin | 9900 | €34,426 | €43,647 | +€9,221 | +26.8% |
| Operating profit (loss) | 9901 | -€10,225 | -€335 | +€9,890 | +96.7% |
| Financial charges | 65/66B | €16,907 | €13,819 | -€3,089 | -18.3% |
| Recurring financial charges | 65 | €16,907 | €13,819 | -€3,089 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | -€27,133 | -€14,154 | +€12,979 | +47.8% |
| Income taxes | 67/77 | €87 | - | -€87 | |
| Profit (loss) for the period | 9904 | -€27,220 | -€14,154 | +€13,066 | +48.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,220 | -€14,154 | +€13,066 | +48.0% |
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.