ANDRIC: 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
ANDRIC
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€60,807
2024 · €83,990-€23,183
Equity
€1.6m
2024 · €1.5m+€60,807
Cash
€31,653
2024 · €30,925+€728
Balance sheet total
€5.7m
2024 · €5.2m+€476,440
Largest movements
Assets
- Tangible fixed assets +€490,565
up €490,565 (+15.7%), from €3.1m to €3.6m
of which Land and buildings: +€491,287
Equity and liabilities
- Other debts +€650,407
up €650,407 (+35.5%), from €1.8m to €2.5m
- Debts after one year -€261,586
down €261,586 (-16.7%), from €1.6m to €1.3m
of which Other amounts payable: -€219,698
- Reserves +€61,000
up €61,000 (+6.8%), from €895,164 to €956,164
of which Distributable reserves: +€61,000
Income statement
- Depreciation +€77,488
up €77,488 (+33.5%), from €231,222 to €308,710
- Gross operating margin +€58,604
up €58,604 (+14.7%), from €397,325 to €455,929
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
€83,990
Gross operating margin
+€58,604
Depreciation
-€77,488
Other operating charges
-€89
Other operating items
+€14
Financial income
+€24
Financial charges
-€4,034
Taxes
-€214
Result 2025
€60,807
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
+€1.1m
Investment
-€799,275
Financing
-€257,378
Cash 2024
€30,925
From operations (derived)
+€1.1m
Net result for the year
+€60,807
Depreciation
+€308,710
Receivables within one year
+€16,455
Deferred charges and accrued income
-€1,602
Trade debts
+€8,480
Tax, wage and social debts
+€9,609
Other debts
+€650,407
Accrued charges and deferred income
+€4,515
Investment (derived)
-€799,275
Investment in fixed assets (net)
-€799,275
Financing
-€257,378
Debts after one year
-€261,586
Current portion of long-term debt
+€4,208
Cash 2025
€31,653
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,181,645 | €5,658,085 | +€476,440 | +9.2% |
| Fixed assets | 21/28 | €5,125,516 | €5,616,081 | +€490,565 | +9.6% |
| Tangible fixed assets | 22/27 | €3,125,516 | €3,616,081 | +€490,565 | +15.7% |
| Land and buildings | 22 | €3,124,114 | €3,615,401 | +€491,287 | +15.7% |
| Plant, machinery and equipment | 23 | €102 | €30 | -€72 | -70.6% |
| Furniture and vehicles | 24 | €1,300 | €650 | -€650 | -50.0% |
| Financial fixed assets | 28 | €2,000,000 | €2,000,000 | = | 0.0% |
| Current assets | 29/58 | €56,129 | €42,004 | -€14,125 | -25.2% |
| Amounts receivable within one year | 40/41 | €16,971 | €516 | -€16,455 | -97.0% |
| Other amounts receivable | 41 | €16,971 | €516 | -€16,455 | -97.0% |
| Cash at bank and in hand | 54/58 | €30,925 | €31,653 | +€728 | +2.4% |
| Deferred charges and accrued income | 490/1 | €8,233 | €9,835 | +€1,602 | +19.5% |
| Total equity and liabilities | 10/49 | €5,181,645 | €5,658,085 | +€476,440 | +9.2% |
| Equity | 10/15 | €1,532,345 | €1,593,152 | +€60,807 | +4.0% |
| Contributions | 10/11 | €448,552 | €448,552 | = | 0.0% |
| Capital | 10 | €448,552 | €448,552 | = | 0.0% |
| Issued capital | 100 | €448,552 | €448,552 | = | 0.0% |
| Reserves | 13 | €895,164 | €956,164 | +€61,000 | +6.8% |
| Non-distributable reserves | 130/1 | €44,855 | €44,855 | = | 0.0% |
| Legal reserve | 130 | €44,855 | €44,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,020 | €2,020 | = | 0.0% |
| Distributable reserves | 133 | €848,289 | €909,289 | +€61,000 | +7.2% |
| Profit (loss) carried forward | 14 | €188,629 | €188,436 | -€193 | -0.1% |
| Amounts payable | 17/49 | €3,649,300 | €4,064,933 | +€415,633 | +11.4% |
| Amounts payable after more than one year | 17 | €1,565,028 | €1,303,442 | -€261,586 | -16.7% |
| Financial debts | 170/4 | €270,538 | €228,650 | -€41,888 | -15.5% |
| Other amounts payable | 178/9 | €1,294,490 | €1,074,792 | -€219,698 | -17.0% |
| Amounts payable within one year | 42/48 | €2,084,272 | €2,756,976 | +€672,704 | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €242,823 | €247,031 | +€4,208 | +1.7% |
| Trade debts | 44 | €6,620 | €15,100 | +€8,480 | +128.1% |
| Suppliers | 440/4 | €6,620 | €15,100 | +€8,480 | +128.1% |
| Taxes, remuneration and social security | 45 | €476 | €10,085 | +€9,609 | +2018.7% |
| Taxes | 450/3 | €476 | €10,085 | +€9,609 | +2018.7% |
| Other amounts payable | 47/48 | €1,834,353 | €2,484,760 | +€650,407 | +35.5% |
| Accrued charges and deferred income | 492/3 | - | €4,515 | +€4,515 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €231,222 | €308,710 | +€77,488 | +33.5% |
| Other operating charges | 640/8 | €29,826 | €29,915 | +€89 | +0.3% |
| Non-recurring operating charges | 66A | €184 | €170 | -€14 | -7.6% |
| Gross operating margin | 9900 | €397,325 | €455,929 | +€58,604 | +14.7% |
| Operating profit (loss) | 9901 | €136,093 | €117,134 | -€18,959 | -13.9% |
| Financial income | 75/76B | €98 | €122 | +€24 | +24.5% |
| Recurring financial income | 75 | €98 | €122 | +€24 | +24.5% |
| Financial charges | 65/66B | €22,716 | €26,750 | +€4,034 | +17.8% |
| Recurring financial charges | 65 | €22,716 | €26,750 | +€4,034 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €113,475 | €90,506 | -€22,969 | -20.2% |
| Income taxes | 67/77 | €29,485 | €29,699 | +€214 | +0.7% |
| Profit (loss) for the period | 9904 | €83,990 | €60,807 | -€23,183 | -27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €83,990 | €60,807 | -€23,183 | -27.6% |
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 4 October 2026 via checked.be.