ANDO: 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
ANDO
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€184,666
2024 · €285,356-€100,689
Equity
-€767,438
2024 · -€949,740+€182,301
Cash
€47,126
2024 · €36,603+€10,522
Balance sheet total
€1.1m
2024 · €958,734+€127,342
Largest movements
Assets
- Current investments +€175,000
new in 2025: €175,000
- Receivables within one year -€96,750
down €96,750 (-91.2%), from €106,122 to €9,372
of which Other amounts receivable: -€106,007
- Tangible fixed assets +€38,067
up €38,067 (+4.7%), from €812,613 to €850,680
Equity and liabilities
- Profit (loss) carried forward +€194,052
up €194,052 (+16.4%), from -€1.2m to -€988,913
- Other debts -€80,800
down €80,800 (-99.0%), from €81,656 to €856
- Trade debts +€23,744
up €23,744 (+476.8%), from €4,980 to €28,723
Income statement
- Gross operating margin -€81,410
down €81,410 (-24.7%), from €329,724 to €248,313
- Depreciation +€10,021
up €10,021 (+29.5%), from €34,026 to €44,047
- Other operating charges +€9,496
up €9,496 (+140.7%), from €6,748 to €16,244
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
€285,356
Gross operating margin
-€81,410
Depreciation
-€10,021
Other operating charges
-€9,496
Financial income
+€49
Financial charges
+€189
Result 2025
€184,666
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
+€260,165
Investment
-€257,114
Financing
+€7,471
Cash 2024
€36,603
From operations (derived)
+€260,165
Net result for the year
+€184,666
Depreciation
+€44,047
Receivables within one year
+€96,750
Deferred charges and accrued income
-€504
Provisions
-€5,621
Trade debts
+€23,744
Tax, wage and social debts
+€1,140
Other debts
-€80,800
Accrued charges and deferred income
-€3,258
Investment (derived)
-€257,114
Investment in fixed assets (net)
-€82,114
Current investments
-€175,000
Financing
+€7,471
Debts after one year
+€8,778
Current portion of long-term debt
+€1,058
Contributions, distributions and other
-€2,365
Cash 2025
€47,126
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €958,734 | €1,086,077 | +€127,342 | +13.3% |
| Fixed assets | 21/28 | €812,613 | €850,680 | +€38,067 | +4.7% |
| Tangible fixed assets | 22/27 | €812,613 | €850,680 | +€38,067 | +4.7% |
| Land and buildings | 22 | €812,613 | €850,680 | +€38,067 | +4.7% |
| Current assets | 29/58 | €146,121 | €235,396 | +€89,275 | +61.1% |
| Amounts receivable within one year | 40/41 | €106,122 | €9,372 | -€96,750 | -91.2% |
| Trade receivables | 40 | - | €9,257 | +€9,257 | |
| Other amounts receivable | 41 | €106,122 | €115 | -€106,007 | -99.9% |
| Current investments | 50/53 | - | €175,000 | +€175,000 | |
| Cash at bank and in hand | 54/58 | €36,603 | €47,126 | +€10,522 | +28.7% |
| Deferred charges and accrued income | 490/1 | €3,395 | €3,899 | +€504 | +14.8% |
| Total equity and liabilities | 10/49 | €958,734 | €1,086,077 | +€127,342 | +13.3% |
| Equity | 10/15 | -€949,740 | -€767,438 | +€182,301 | +19.2% |
| Contributions | 10/11 | €62,429 | €62,429 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Outside capital | 11 | €929 | €929 | = | 0.0% |
| Share premium | 1100/10 | €929 | €929 | = | 0.0% |
| Reserves | 13 | €151,876 | €142,490 | -€9,386 | -6.2% |
| Tax-exempt reserves | 132 | €151,876 | €142,490 | -€9,386 | -6.2% |
| Profit (loss) carried forward | 14 | -€1,182,966 | -€988,913 | +€194,052 | +16.4% |
| Investment grants | 15 | €18,921 | €16,556 | -€2,365 | -12.5% |
| Provisions and deferred taxes | 16 | €84,511 | €78,890 | -€5,621 | -6.7% |
| Deferred taxes | 168 | €84,511 | €78,890 | -€5,621 | -6.7% |
| Amounts payable | 17/49 | €1,823,963 | €1,774,625 | -€49,338 | -2.7% |
| Amounts payable after more than one year | 17 | €1,707,597 | €1,716,375 | +€8,778 | +0.5% |
| Financial debts | 170/4 | €193,094 | €220,872 | +€27,778 | +14.4% |
| Other amounts payable | 178/9 | €1,514,503 | €1,495,503 | -€19,000 | -1.3% |
| Amounts payable within one year | 42/48 | €107,800 | €52,941 | -€54,858 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €21,164 | €22,222 | +€1,058 | +5.0% |
| Trade debts | 44 | €4,980 | €28,723 | +€23,744 | +476.8% |
| Suppliers | 440/4 | €4,980 | €28,723 | +€23,744 | +476.8% |
| Taxes, remuneration and social security | 45 | - | €1,140 | +€1,140 | |
| Taxes | 450/3 | - | €1,140 | +€1,140 | |
| Other amounts payable | 47/48 | €81,656 | €856 | -€80,800 | -99.0% |
| Accrued charges and deferred income | 492/3 | €8,566 | €5,308 | -€3,258 | -38.0% |
| Non-recurring operating income | 76A | - | €19,586 | +€19,586 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,026 | €44,047 | +€10,021 | +29.5% |
| Other operating charges | 640/8 | €6,748 | €16,244 | +€9,496 | +140.7% |
| Gross operating margin | 9900 | €329,724 | €248,313 | -€81,410 | -24.7% |
| Operating profit (loss) | 9901 | €288,950 | €188,023 | -€100,927 | -34.9% |
| Financial income | 75/76B | €2,700 | €2,749 | +€49 | +1.8% |
| Recurring financial income | 75 | €2,700 | €2,749 | +€49 | +1.8% |
| Financial charges | 65/66B | €11,916 | €11,727 | -€189 | -1.6% |
| Recurring financial charges | 65 | €11,916 | €11,727 | -€189 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €279,735 | €179,045 | -€100,689 | -36.0% |
| Transfer from deferred taxes | 780 | €5,621 | €5,621 | = | 0.0% |
| Profit (loss) for the period | 9904 | €285,356 | €184,666 | -€100,689 | -35.3% |
| Transfer from tax-exempt reserves | 789 | €9,386 | €9,386 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €294,741 | €194,052 | -€100,689 | -34.2% |
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 6 October 2026 via checked.be.