ANDRA: 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.
ANDRA
Largest movements
- Tangible fixed assets -€135,524
down €135,524 (-17.8%), from €760,352 to €624,829
of which Land and buildings: -€203,453
- Other debts +€143,001
up €143,001 (+41.4%), from €345,599 to €488,600
- Reserves -€112,494
no longer reported in 2025 (was €112,494)
- Provisions -€37,498
no longer reported in 2025 (was €37,498)
- Debts after one year -€32,881
down €32,881 (-9.0%), from €366,844 to €333,963
of which Financial debts: -€32,881
- Trade debts -€30,683
down €30,683 (-70.6%), from €43,475 to €12,792
- Gross operating margin -€83,836
down €83,836, from €47,793 to -€36,043
- Financial charges -€5,598
down €5,598 (-21.4%), from €26,105 to €20,507
- Depreciation -€4,934
down €4,934 (-5.4%), from €91,127 to €86,193
- Other operating charges +€1,077
up €1,077 (+15.3%), from €7,042 to €8,119
- Financial income -€625
down €625 (-74.9%), from €834 to €209
of which Non-recurring financial income: -€819
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 | €1,009,112 | €866,443 | -€142,669 | -14.1% |
| Fixed assets | 21/28 | €760,352 | €624,914 | -€135,439 | -17.8% |
| Tangible fixed assets | 22/27 | €760,352 | €624,829 | -€135,524 | -17.8% |
| Land and buildings | 22 | €754,737 | €551,285 | -€203,453 | -27.0% |
| Plant, machinery and equipment | 23 | €1,736 | €2,497 | +€761 | +43.8% |
| Furniture and vehicles | 24 | €3,879 | €18,922 | +€15,043 | +387.8% |
| Other tangible fixed assets | 26 | - | €52,125 | +€52,125 | |
| Financial fixed assets | 28 | - | €85 | +€85 | |
| Current assets | 29/58 | €248,760 | €241,529 | -€7,231 | -2.9% |
| Stocks and contracts in progress | 3 | €158,891 | €153,158 | -€5,732 | -3.6% |
| Stocks | 30/36 | €158,891 | €153,158 | -€5,732 | -3.6% |
| Amounts receivable within one year | 40/41 | €41,962 | €47,960 | +€5,998 | +14.3% |
| Trade receivables | 40 | €41,962 | €44,335 | +€2,373 | +5.7% |
| Other amounts receivable | 41 | - | €3,625 | +€3,625 | |
| Cash at bank and in hand | 54/58 | €41,136 | €33,960 | -€7,176 | -17.4% |
| Deferred charges and accrued income | 490/1 | €6,771 | €6,451 | -€320 | -4.7% |
| Total equity and liabilities | 10/49 | €1,009,112 | €866,443 | -€142,669 | -14.1% |
| Equity | 10/15 | €95,617 | -€18,150 | -€113,767 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €112,494 | - | -€112,494 | |
| Tax-exempt reserves | 132 | €112,494 | - | -€112,494 | |
| Profit (loss) carried forward | 14 | -€78,377 | -€79,650 | -€1,273 | -1.6% |
| Provisions and deferred taxes | 16 | €37,498 | - | -€37,498 | |
| Deferred taxes | 168 | €37,498 | - | -€37,498 | |
| Amounts payable | 17/49 | €875,997 | €884,593 | +€8,596 | +1.0% |
| Amounts payable after more than one year | 17 | €366,844 | €333,963 | -€32,881 | -9.0% |
| Financial debts | 170/4 | €364,704 | €331,823 | -€32,881 | -9.0% |
| Other amounts payable | 178/9 | €2,140 | €2,140 | = | 0.0% |
| Amounts payable within one year | 42/48 | €501,591 | €549,123 | +€47,532 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €31,050 | €32,881 | +€1,831 | +5.9% |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €43,475 | €12,792 | -€30,683 | -70.6% |
| Suppliers | 440/4 | €43,475 | €12,792 | -€30,683 | -70.6% |
| Advances received on contracts in progress | 46 | €30,995 | €13,799 | -€17,196 | -55.5% |
| Taxes, remuneration and social security | 45 | €25,472 | €1,051 | -€24,421 | -95.9% |
| Taxes | 450/3 | €25,472 | €1,051 | -€24,421 | -95.9% |
| Other amounts payable | 47/48 | €345,599 | €488,600 | +€143,001 | +41.4% |
| Accrued charges and deferred income | 492/3 | €7,562 | €1,507 | -€6,055 | -80.1% |
| Non-recurring operating income | 76A | - | €28,938 | +€28,938 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,127 | €86,193 | -€4,934 | -5.4% |
| Other operating charges | 640/8 | €7,042 | €8,119 | +€1,077 | +15.3% |
| Gross operating margin | 9900 | €47,793 | -€36,043 | -€83,836 | |
| Operating profit (loss) | 9901 | -€50,376 | -€130,355 | -€79,979 | -158.8% |
| Financial income | 75/76B | €834 | €209 | -€625 | -74.9% |
| Recurring financial income | 75 | €15 | €209 | +€195 | +1305.9% |
| Non-recurring financial income | 76B | €819 | - | -€819 | |
| Financial charges | 65/66B | €26,105 | €20,507 | -€5,598 | -21.4% |
| Recurring financial charges | 65 | €26,105 | €20,507 | -€5,598 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€75,646 | -€150,653 | -€75,006 | -99.2% |
| Transfer from deferred taxes | 780 | €11,380 | €37,498 | +€26,118 | +229.5% |
| Income taxes | 67/77 | €619 | €612 | -€6 | -1.0% |
| Profit (loss) for the period | 9904 | -€64,885 | -€113,767 | -€48,882 | -75.3% |
| Transfer from tax-exempt reserves | 789 | €34,140 | €112,494 | +€78,354 | +229.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,745 | -€1,273 | +€29,472 | +95.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.