ANDOR: 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
ANDOR
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€155,343
2024 · -€360,113+€204,770
Equity
-€858,860
2024 · -€703,517-€155,343
Cash
€31,718
2024 · €16,004+€15,714
Balance sheet total
€1.6m
2024 · €1.7m-€68,746
Largest movements
Assets
- Tangible fixed assets -€91,632
down €91,632 (-12.2%), from €751,823 to €660,192
of which Land and buildings: -€90,716
Equity and liabilities
- Profit (loss) carried forward -€155,343
down €155,343 (-8.0%), from -€1.9m to -€2.1m
- Other debts +€101,066
up €101,066 (+4.3%), from €2.3m to €2.4m
Income statement
- Gross operating margin +€192,737
up €192,737 (+89.9%), from -€214,275 to -€21,537
- Financial charges -€19,072
down €19,072 (-52.6%), from €36,283 to €17,211
- Taxes +€6,883
new in 2025: €6,883
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
-€360,113
Gross operating margin
+€192,737
Depreciation
+€62
Other operating charges
-€218
Financial charges
+€19,072
Taxes
-€6,883
Result 2025
-€155,343
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
+€29,020
Investment
-€649
Financing
-€12,657
Cash 2024
€16,004
From operations (derived)
+€29,020
Net result for the year
-€155,343
Depreciation
+€92,281
Receivables within one year
-€7,091
Deferred charges and accrued income
-€81
Trade debts
-€5,882
Tax, wage and social debts
+€1,069
Other debts
+€101,066
Accrued charges and deferred income
+€3,002
Investment (derived)
-€649
Investment in fixed assets (net)
-€649
Financing
-€12,657
Debts after one year
-€10,799
Current portion of long-term debt
-€1,858
Cash 2025
€31,718
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,700,730 | €1,631,984 | -€68,746 | -4.0% |
| Fixed assets | 21/28 | €753,333 | €661,702 | -€91,632 | -12.2% |
| Tangible fixed assets | 22/27 | €751,823 | €660,192 | -€91,632 | -12.2% |
| Land and buildings | 22 | €741,240 | €650,524 | -€90,716 | -12.2% |
| Plant, machinery and equipment | 23 | €551 | €967 | +€415 | +75.3% |
| Furniture and vehicles | 24 | €10,032 | €8,701 | -€1,331 | -13.3% |
| Financial fixed assets | 28 | €1,510 | €1,510 | = | 0.0% |
| Current assets | 29/58 | €947,397 | €970,282 | +€22,886 | +2.4% |
| Stocks and contracts in progress | 3 | €594,783 | €594,783 | = | 0.0% |
| Stocks | 30/36 | €594,783 | €594,783 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €334,900 | €341,991 | +€7,091 | +2.1% |
| Trade receivables | 40 | €334,900 | €341,732 | +€6,832 | +2.0% |
| Other amounts receivable | 41 | - | €259 | +€259 | |
| Cash at bank and in hand | 54/58 | €16,004 | €31,718 | +€15,714 | +98.2% |
| Deferred charges and accrued income | 490/1 | €1,709 | €1,790 | +€81 | +4.7% |
| Total equity and liabilities | 10/49 | €1,700,730 | €1,631,984 | -€68,746 | -4.0% |
| Equity | 10/15 | -€703,517 | -€858,860 | -€155,343 | -22.1% |
| Contributions | 10/11 | €1,246,364 | €1,246,364 | = | 0.0% |
| Capital | 10 | €1,246,364 | €1,246,364 | = | 0.0% |
| Issued capital | 100 | €1,246,364 | €1,246,364 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,949,882 | -€2,105,224 | -€155,343 | -8.0% |
| Amounts payable | 17/49 | €2,404,247 | €2,490,844 | +€86,597 | +3.6% |
| Amounts payable after more than one year | 17 | €49,766 | €38,967 | -€10,799 | -21.7% |
| Financial debts | 170/4 | €49,766 | €38,967 | -€10,799 | -21.7% |
| Amounts payable within one year | 42/48 | €2,352,393 | €2,446,788 | +€94,394 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €12,657 | €10,799 | -€1,858 | -14.7% |
| Trade debts | 44 | €11,593 | €5,711 | -€5,882 | -50.7% |
| Suppliers | 440/4 | €11,593 | €5,711 | -€5,882 | -50.7% |
| Taxes, remuneration and social security | 45 | €1,060 | €2,128 | +€1,069 | +100.9% |
| Taxes | 450/3 | €1,060 | €2,128 | +€1,069 | +100.9% |
| Other amounts payable | 47/48 | €2,327,084 | €2,428,149 | +€101,066 | +4.3% |
| Accrued charges and deferred income | 492/3 | €2,088 | €5,089 | +€3,002 | +143.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,342 | €92,281 | -€62 | -0.1% |
| Other operating charges | 640/8 | €17,213 | €17,431 | +€218 | +1.3% |
| Gross operating margin | 9900 | -€214,275 | -€21,537 | +€192,737 | +89.9% |
| Operating profit (loss) | 9901 | -€323,830 | -€131,249 | +€192,581 | +59.5% |
| Financial charges | 65/66B | €36,283 | €17,211 | -€19,072 | -52.6% |
| Recurring financial charges | 65 | €36,283 | €17,211 | -€19,072 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | -€360,113 | -€148,460 | +€211,654 | +58.8% |
| Income taxes | 67/77 | - | €6,883 | +€6,883 | |
| Profit (loss) for the period | 9904 | -€360,113 | -€155,343 | +€204,770 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€360,113 | -€155,343 | +€204,770 | +56.9% |
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 29 September 2026 via checked.be.