Andram: 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.
Andram
Largest movements
- Cash +€63,154
up €63,154 (+41.0%), from €154,040 to €217,195
mainly Net result for the year (+€93,443) and Tax, wage and social debts (+€28,446)
- Tangible fixed assets -€36,008
down €36,008 (-36.3%), from €99,280 to €63,272
of which Furniture and vehicles: -€19,345
- Receivables within one year -€4,260
down €4,260 (-61.1%), from €6,975 to €2,715
of which Other amounts receivable: -€6,132
- Tax, wage and social debts +€28,446
up €28,446 (+65.7%), from €43,318 to €71,764
- Debts after one year -€25,092
down €25,092 (-48.8%), from €51,461 to €26,369
- Profit (loss) carried forward +€18,443
up €18,443 (+13.9%), from €132,229 to €150,673
- Gross operating margin -€36,791
down €36,791 (-19.7%), from €186,661 to €149,870
- Taxes -€9,265
down €9,265 (-26.4%), from €35,034 to €25,769
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 | €262,154 | €285,058 | +€22,903 | +8.7% |
| Fixed assets | 21/28 | €99,280 | €63,272 | -€36,008 | -36.3% |
| Tangible fixed assets | 22/27 | €99,280 | €63,272 | -€36,008 | -36.3% |
| Plant, machinery and equipment | 23 | €2,212 | €1,422 | -€791 | -35.7% |
| Furniture and vehicles | 24 | €81,195 | €61,850 | -€19,345 | -23.8% |
| Other tangible fixed assets | 26 | €15,872 | - | -€15,872 | |
| Current assets | 29/58 | €162,875 | €221,786 | +€58,911 | +36.2% |
| Amounts receivable within one year | 40/41 | €6,975 | €2,715 | -€4,260 | -61.1% |
| Trade receivables | 40 | €843 | €2,715 | +€1,871 | +221.9% |
| Other amounts receivable | 41 | €6,132 | - | -€6,132 | |
| Cash at bank and in hand | 54/58 | €154,040 | €217,195 | +€63,154 | +41.0% |
| Deferred charges and accrued income | 490/1 | €1,860 | €1,877 | +€17 | +0.9% |
| Total equity and liabilities | 10/49 | €262,154 | €285,058 | +€22,903 | +8.7% |
| Equity | 10/15 | €136,229 | €154,673 | +€18,443 | +13.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,229 | €150,673 | +€18,443 | +13.9% |
| Amounts payable | 17/49 | €125,925 | €130,385 | +€4,460 | +3.5% |
| Amounts payable after more than one year | 17 | €51,461 | €26,369 | -€25,092 | -48.8% |
| Financial debts | 170/4 | €51,461 | €26,369 | -€25,092 | -48.8% |
| Amounts payable within one year | 42/48 | €74,464 | €104,016 | +€29,552 | +39.7% |
| Current portion of amounts payable after more than one year | 42 | €24,147 | €25,092 | +€945 | +3.9% |
| Trade debts | 44 | €7,000 | €4,746 | -€2,254 | -32.2% |
| Suppliers | 440/4 | €7,000 | €4,746 | -€2,254 | -32.2% |
| Taxes, remuneration and social security | 45 | €43,318 | €71,764 | +€28,446 | +65.7% |
| Taxes | 450/3 | €43,318 | €71,764 | +€28,446 | +65.7% |
| Other amounts payable | 47/48 | - | €2,415 | +€2,415 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,551 | €26,685 | -€865 | -3.1% |
| Other operating charges | 640/8 | €666 | €1,245 | +€579 | +86.9% |
| Gross operating margin | 9900 | €186,661 | €149,870 | -€36,791 | -19.7% |
| Operating profit (loss) | 9901 | €158,444 | €121,940 | -€36,504 | -23.0% |
| Financial charges | 65/66B | €3,507 | €2,728 | -€778 | -22.2% |
| Recurring financial charges | 65 | €3,507 | €2,728 | -€778 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €154,938 | €119,212 | -€35,726 | -23.1% |
| Income taxes | 67/77 | €35,034 | €25,769 | -€9,265 | -26.4% |
| Profit (loss) for the period | 9904 | €119,904 | €93,443 | -€26,461 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €119,904 | €93,443 | -€26,461 | -22.1% |
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.