ANECO: 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.
ANECO
Largest movements
- Cash +€81,707
up €81,707 (+55.5%), from €147,284 to €228,991
mainly Net result for the year (+€194,170) and Depreciation (+€37,296)
- Tangible fixed assets -€34,216
down €34,216 (-17.2%), from €199,099 to €164,882
of which Furniture and vehicles: -€18,213
- Reserves +€194,170
up €194,170 (+21.0%), from €923,575 to €1.1m
of which Distributable reserves: +€211,685
- Other debts -€143,265
down €143,265 (-100.0%), from €143,265 to €0
- Gross operating margin +€16,997
up €16,997 (+5.7%), from €300,302 to €317,299
- Financial income -€12,272
down €12,272 (-61.9%), from €19,815 to €7,544
- Taxes +€7,078
up €7,078 (+8.5%), from €83,431 to €90,509
- Financial charges -€4,871
down €4,871 (-99.2%), from €4,911 to €40
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 | €1,107,141 | €1,153,002 | +€45,860 | +4.1% |
| Fixed assets | 21/28 | €199,099 | €164,882 | -€34,216 | -17.2% |
| Tangible fixed assets | 22/27 | €199,099 | €164,882 | -€34,216 | -17.2% |
| Land and buildings | 22 | €128,059 | €114,067 | -€13,992 | -10.9% |
| Plant, machinery and equipment | 23 | €4,476 | €2,466 | -€2,011 | -44.9% |
| Furniture and vehicles | 24 | €54,063 | €35,850 | -€18,213 | -33.7% |
| Other tangible fixed assets | 26 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €908,043 | €988,119 | +€80,077 | +8.8% |
| Amounts receivable within one year | 40/41 | €84,604 | €85,078 | +€473 | +0.6% |
| Trade receivables | 40 | €83,924 | €80,734 | -€3,190 | -3.8% |
| Other amounts receivable | 41 | €680 | €4,344 | +€3,664 | +538.5% |
| Current investments | 50/53 | €665,573 | €670,120 | +€4,547 | +0.7% |
| Cash at bank and in hand | 54/58 | €147,284 | €228,991 | +€81,707 | +55.5% |
| Deferred charges and accrued income | 490/1 | €10,582 | €3,931 | -€6,651 | -62.9% |
| Total equity and liabilities | 10/49 | €1,107,141 | €1,153,002 | +€45,860 | +4.1% |
| Equity | 10/15 | €936,117 | €1,130,287 | +€194,170 | +20.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €923,575 | €1,117,746 | +€194,170 | +21.0% |
| Non-distributable reserves | 130/1 | €17,515 | €0 | -€17,515 | -100.0% |
| Reserves not available under the articles | 1311 | €17,515 | €0 | -€17,515 | -100.0% |
| Distributable reserves | 133 | €906,060 | €1,117,746 | +€211,685 | +23.4% |
| Profit (loss) carried forward | 14 | €141 | €141 | = | 0.0% |
| Amounts payable | 17/49 | €171,025 | €22,715 | -€148,310 | -86.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €171,025 | €22,715 | -€148,310 | -86.7% |
| Trade debts | 44 | €8,971 | €2,906 | -€6,065 | -67.6% |
| Suppliers | 440/4 | €8,971 | €2,906 | -€6,065 | -67.6% |
| Taxes, remuneration and social security | 45 | €18,789 | €19,809 | +€1,020 | +5.4% |
| Taxes | 450/3 | €18,789 | €19,809 | +€1,020 | +5.4% |
| Other amounts payable | 47/48 | €143,265 | €0 | -€143,265 | -100.0% |
| Non-recurring operating income | 76A | - | €9,650 | +€9,650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,305 | €37,296 | -€8 | 0.0% |
| Other operating charges | 640/8 | €2,308 | €2,827 | +€519 | +22.5% |
| Gross operating margin | 9900 | €300,302 | €317,299 | +€16,997 | +5.7% |
| Operating profit (loss) | 9901 | €260,690 | €277,176 | +€16,486 | +6.3% |
| Financial income | 75/76B | €19,815 | €7,544 | -€12,272 | -61.9% |
| Recurring financial income | 75 | €19,815 | €7,544 | -€12,272 | -61.9% |
| Financial charges | 65/66B | €4,911 | €40 | -€4,871 | -99.2% |
| Recurring financial charges | 65 | €4,911 | €40 | -€4,871 | -99.2% |
| Profit (loss) for the period before taxes | 9903 | €275,594 | €284,680 | +€9,085 | +3.3% |
| Income taxes | 67/77 | €83,431 | €90,509 | +€7,078 | +8.5% |
| Profit (loss) for the period | 9904 | €192,163 | €194,170 | +€2,007 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €192,163 | €194,170 | +€2,007 | +1.0% |
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.