ANDINI: 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.
What changed
ANDINI
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€14,962
2024 · €4,145-€19,106
Equity
€961,228
2024 · €976,190-€14,962
Cash
€2,050
2024 · €7,637-€5,587
Balance sheet total
€2.9m
2024 · €3.0m-€25,947
Largest movements
Assets
- Financial fixed assets -€310,000
down €310,000 (-25.6%), from €1.2m to €901,454
- Receivables after one year +€310,000
up €310,000 (+30.2%), from €1.0m to €1.3m
Equity and liabilities
- Debts after one year -€100,000
down €100,000 (-8.6%), from €1.2m to €1.1m
- Other debts +€87,834
up €87,834 (+10.7%), from €818,295 to €906,129
Income statement
- Gross operating margin -€18,591
down €18,591 (-39.5%), from €47,011 to €28,420
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.
Result 2024
€4,145
Gross operating margin
-€18,591
Other operating charges
-€38
Financial income
-€33
Financial charges
-€445
Result 2025
-€14,962
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.
From operations
-€215,587
Investment
+€310,000
Financing
-€100,000
Cash 2024
€7,637
From operations (derived)
-€215,587
Net result for the year
-€14,962
Depreciation
+€21,139
Receivables after one year
-€310,000
Receivables within one year
-€1,251
Deferred charges and accrued income
+€472
Trade debts
+€1,181
Other debts
+€87,834
Investment (derived)
+€310,000
Investment in fixed assets (net)
+€310,000
Financing
-€100,000
Debts after one year
-€100,000
Cash 2025
€2,050
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,955,943 | €2,929,996 | -€25,947 | -0.9% |
| Fixed assets | 21/28 | €1,826,869 | €1,495,729 | -€331,139 | -18.1% |
| Tangible fixed assets | 22/27 | €615,415 | €594,276 | -€21,139 | -3.4% |
| Land and buildings | 22 | €614,303 | €593,534 | -€20,769 | -3.4% |
| Plant, machinery and equipment | 23 | €1,112 | €742 | -€371 | -33.3% |
| Financial fixed assets | 28 | €1,211,454 | €901,454 | -€310,000 | -25.6% |
| Current assets | 29/58 | €1,129,075 | €1,434,267 | +€305,192 | +27.0% |
| Amounts receivable after more than one year | 29 | €1,025,000 | €1,335,000 | +€310,000 | +30.2% |
| Other amounts receivable | 291 | €1,025,000 | €1,335,000 | +€310,000 | +30.2% |
| Amounts receivable within one year | 40/41 | €95,948 | €97,198 | +€1,251 | +1.3% |
| Other amounts receivable | 41 | €95,948 | €97,198 | +€1,251 | +1.3% |
| Cash at bank and in hand | 54/58 | €7,637 | €2,050 | -€5,587 | -73.2% |
| Deferred charges and accrued income | 490/1 | €490 | €18 | -€472 | -96.3% |
| Total equity and liabilities | 10/49 | €2,955,943 | €2,929,996 | -€25,947 | -0.9% |
| Equity | 10/15 | €976,190 | €961,228 | -€14,962 | -1.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €914,190 | €899,228 | -€14,962 | -1.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €907,990 | €893,028 | -€14,962 | -1.6% |
| Amounts payable | 17/49 | €1,979,754 | €1,968,768 | -€10,986 | -0.6% |
| Amounts payable after more than one year | 17 | €1,161,068 | €1,061,068 | -€100,000 | -8.6% |
| Other amounts payable | 178/9 | €1,161,068 | €1,061,068 | -€100,000 | -8.6% |
| Amounts payable within one year | 42/48 | €818,685 | €907,700 | +€89,014 | +10.9% |
| Trade debts | 44 | €390 | €1,571 | +€1,181 | +302.5% |
| Suppliers | 440/4 | €390 | €1,571 | +€1,181 | +302.5% |
| Other amounts payable | 47/48 | €818,295 | €906,129 | +€87,834 | +10.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,139 | €21,139 | = | 0.0% |
| Other operating charges | 640/8 | €4,498 | €4,535 | +€38 | +0.8% |
| Gross operating margin | 9900 | €47,011 | €28,420 | -€18,591 | -39.5% |
| Operating profit (loss) | 9901 | €21,374 | €2,745 | -€18,628 | -87.2% |
| Financial income | 75/76B | €32,034 | €32,001 | -€33 | -0.1% |
| Recurring financial income | 75 | €32,034 | €32,001 | -€33 | -0.1% |
| Financial charges | 65/66B | €49,263 | €49,708 | +€445 | +0.9% |
| Recurring financial charges | 65 | €49,263 | €49,708 | +€445 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €4,145 | -€14,962 | -€19,106 | |
| Profit (loss) for the period | 9904 | €4,145 | -€14,962 | -€19,106 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,145 | -€14,962 | -€19,106 |
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 2 October 2026 via checked.be.