ANDRENO: 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.
ANDRENO
Largest movements
- Cash +€17,991
up €17,991 (+79.1%), from €22,743 to €40,735
mainly Depreciation (+€39,585) and Net result for the year (+€36,840)
- Receivables within one year -€12,263
down €12,263 (-2.2%), from €546,491 to €534,228
of which Other amounts receivable: -€10,698
- Reserves +€36,840
up €36,840 (+12.2%), from €301,461 to €338,301
- Trade debts -€16,499
down €16,499 (-5.5%), from €299,071 to €282,571
- Debts after one year -€12,999
down €12,999 (-36.9%), from €35,264 to €22,265
- Gross operating margin -€80,843
down €80,843 (-47.2%), from €171,390 to €90,547
- Taxes -€16,871
down €16,871 (-64.1%), from €26,314 to €9,443
- Financial income +€10,982
up €10,982 (+126%), from €8,747 to €19,729
- Write-downs -€10,301
down €10,301, from €5,000 to -€5,301
- Financial charges +€6,251
up €6,251 (+48.0%), from €13,032 to €19,283
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 | €680,307 | €683,606 | +€3,299 | +0.5% |
| Fixed assets | 21/28 | €105,715 | €104,646 | -€1,069 | -1.0% |
| Tangible fixed assets | 22/27 | €105,058 | €103,989 | -€1,069 | -1.0% |
| Plant, machinery and equipment | 23 | €7,311 | €4,930 | -€2,381 | -32.6% |
| Furniture and vehicles | 24 | €97,748 | €99,059 | +€1,312 | +1.3% |
| Financial fixed assets | 28 | €657 | €657 | = | 0.0% |
| Current assets | 29/58 | €574,592 | €578,960 | +€4,368 | +0.8% |
| Amounts receivable within one year | 40/41 | €546,491 | €534,228 | -€12,263 | -2.2% |
| Trade receivables | 40 | €499,710 | €498,145 | -€1,565 | -0.3% |
| Other amounts receivable | 41 | €46,781 | €36,084 | -€10,698 | -22.9% |
| Cash at bank and in hand | 54/58 | €22,743 | €40,735 | +€17,991 | +79.1% |
| Deferred charges and accrued income | 490/1 | €5,358 | €3,997 | -€1,361 | -25.4% |
| Total equity and liabilities | 10/49 | €680,307 | €683,606 | +€3,299 | +0.5% |
| Equity | 10/15 | €303,461 | €340,301 | +€36,840 | +12.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €301,461 | €338,301 | +€36,840 | +12.2% |
| Distributable reserves | 133 | €301,461 | €338,301 | +€36,840 | +12.2% |
| Amounts payable | 17/49 | €376,846 | €343,305 | -€33,541 | -8.9% |
| Amounts payable after more than one year | 17 | €35,264 | €22,265 | -€12,999 | -36.9% |
| Financial debts | 170/4 | €35,264 | €22,265 | -€12,999 | -36.9% |
| Amounts payable within one year | 42/48 | €341,195 | €320,253 | -€20,942 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €37,516 | €33,103 | -€4,413 | -11.8% |
| Trade debts | 44 | €299,071 | €282,571 | -€16,499 | -5.5% |
| Suppliers | 440/4 | €299,071 | €282,571 | -€16,499 | -5.5% |
| Taxes, remuneration and social security | 45 | €4,551 | €4,579 | +€27 | +0.6% |
| Taxes | 450/3 | €4,551 | €4,579 | +€27 | +0.6% |
| Other amounts payable | 47/48 | €58 | - | -€58 | |
| Accrued charges and deferred income | 492/3 | €387 | €787 | +€400 | +103% |
| Non-recurring operating income | 76A | - | €4,967 | +€4,967 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,398 | €39,585 | +€186 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,000 | -€5,301 | -€10,301 | |
| Other operating charges | 640/8 | €5,660 | €10,426 | +€4,766 | +84.2% |
| Gross operating margin | 9900 | €171,390 | €90,547 | -€80,843 | -47.2% |
| Operating profit (loss) | 9901 | €121,332 | €45,837 | -€75,495 | -62.2% |
| Financial income | 75/76B | €8,747 | €19,729 | +€10,982 | +126% |
| Recurring financial income | 75 | €8,747 | €19,729 | +€10,982 | +126% |
| Financial charges | 65/66B | €13,032 | €19,283 | +€6,251 | +48.0% |
| Recurring financial charges | 65 | €13,032 | €19,283 | +€6,251 | +48.0% |
| Profit (loss) for the period before taxes | 9903 | €117,047 | €46,283 | -€70,764 | -60.5% |
| Income taxes | 67/77 | €26,314 | €9,443 | -€16,871 | -64.1% |
| Profit (loss) for the period | 9904 | €90,733 | €36,840 | -€53,894 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €90,733 | €36,840 | -€53,894 | -59.4% |
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 19 October 2026 via checked.be.