ANDIRO: 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.
ANDIRO
Largest movements
- Financial fixed assets -€5.3m
down €5.3m (-85.0%), from €6.3m to €940,375
- Stocks and contracts -€417,898
down €417,898 (-35.3%), from €1.2m to €767,302
- Receivables within one year +€147,367
up €147,367 (+2,560%), from €5,757 to €153,124
of which Trade receivables: +€150,750
- Profit (loss) carried forward -€5.4m
down €5.4m (-2,135%), from -€255,291 to -€5.7m
- Debts after one year -€99,571
down €99,571 (-4.0%), from €2.5m to €2.4m
- Financial charges +€5.5m
up €5.5m (+12,347%), from €44,176 to €5.5m
of which Non-recurring financial charges: +€5.3m
- Gross operating margin +€64,335
up €64,335, from -€19,072 to €45,263
- Financial income +€7,500
new in 2025: €7,500
- Other operating charges +€4,147
up €4,147 (+3,291%), from €126 to €4,273
- Staff costs -€854
no longer reported in 2025 (was €854)
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 | €7,698,146 | €2,086,449 | -€5.6m | -72.9% |
| Fixed assets | 21/28 | €6,267,623 | €940,375 | -€5.3m | -85.0% |
| Financial fixed assets | 28 | €6,267,623 | €940,375 | -€5.3m | -85.0% |
| Current assets | 29/58 | €1,430,524 | €1,146,074 | -€284,449 | -19.9% |
| Amounts receivable after more than one year | 29 | €239,117 | €186,318 | -€52,799 | -22.1% |
| Other amounts receivable | 291 | €239,117 | €186,318 | -€52,799 | -22.1% |
| Stocks and contracts in progress | 3 | €1,185,200 | €767,302 | -€417,898 | -35.3% |
| Stocks | 30/36 | €1,185,200 | €767,302 | -€417,898 | -35.3% |
| Amounts receivable within one year | 40/41 | €5,757 | €153,124 | +€147,367 | +2,560% |
| Trade receivables | 40 | €1,750 | €152,500 | +€150,750 | +8,614% |
| Other amounts receivable | 41 | €4,007 | €624 | -€3,383 | -84.4% |
| Cash at bank and in hand | 54/58 | €449 | €37,466 | +€37,017 | +8,239% |
| Deferred charges and accrued income | 490/1 | - | €1,864 | +€1,864 | |
| Total equity and liabilities | 10/49 | €7,698,146 | €2,086,449 | -€5.6m | -72.9% |
| Equity | 10/15 | €4,909,705 | -€540,284 | -€5.4m | |
| Contributions | 10/11 | €5,009,640 | €5,009,640 | = | 0.0% |
| Capital | 10 | €5,009,640 | €5,009,640 | = | 0.0% |
| Issued capital | 100 | €5,009,640 | €5,009,640 | = | 0.0% |
| Reserves | 13 | €155,356 | €155,356 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,831 | €28,831 | = | 0.0% |
| Legal reserve | 130 | €28,831 | €28,831 | = | 0.0% |
| Distributable reserves | 133 | €126,525 | €126,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€255,291 | -€5,705,280 | -€5.4m | -2,135% |
| Amounts payable | 17/49 | €2,788,441 | €2,626,733 | -€161,709 | -5.8% |
| Amounts payable after more than one year | 17 | €2,510,948 | €2,411,377 | -€99,571 | -4.0% |
| Financial debts | 170/4 | €2,510,948 | €2,411,377 | -€99,571 | -4.0% |
| Amounts payable within one year | 42/48 | €277,493 | €215,356 | -€62,137 | -22.4% |
| Financial debts | 43 | €24,975 | - | -€24,975 | |
| Credit institutions | 430/8 | €24,975 | - | -€24,975 | |
| Trade debts | 44 | €210,709 | €169,893 | -€40,816 | -19.4% |
| Suppliers | 440/4 | €210,709 | €169,893 | -€40,816 | -19.4% |
| Taxes, remuneration and social security | 45 | €4,008 | €4,943 | +€934 | +23.3% |
| Taxes | 450/3 | €4,008 | €4,943 | +€934 | +23.3% |
| Other amounts payable | 47/48 | €37,801 | €40,520 | +€2,719 | +7.2% |
| Remuneration, social security and pensions | 62 | €854 | - | -€854 | |
| Other operating charges | 640/8 | €126 | €4,273 | +€4,147 | +3,291% |
| Gross operating margin | 9900 | -€19,072 | €45,263 | +€64,335 | |
| Operating profit (loss) | 9901 | -€20,052 | €40,990 | +€61,042 | |
| Financial income | 75/76B | - | €7,500 | +€7,500 | |
| Recurring financial income | 75 | - | €7,500 | +€7,500 | |
| Financial charges | 65/66B | €44,176 | €5,498,479 | +€5.5m | +12,347% |
| Recurring financial charges | 65 | €44,176 | €171,231 | +€127,055 | +288% |
| Non-recurring financial charges | 66B | - | €5,327,248 | +€5.3m | |
| Profit (loss) for the period before taxes | 9903 | -€64,229 | -€5,449,989 | -€5.4m | -8,385% |
| Profit (loss) for the period | 9904 | -€64,229 | -€5,449,989 | -€5.4m | -8,385% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,229 | -€5,449,989 | -€5.4m | -8,385% |
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 14 October 2026 via checked.be.