ANELEC: 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.
ANELEC
Largest movements
- Current investments +€140,336
up €140,336 (+200.0%), from €70,174 to €210,510
- Cash -€54,249
down €54,249 (-61.0%), from €88,899 to €34,651
mainly Current investments (-€140,336) and Trade debts (-€28,394)
- Receivables within one year -€26,637
down €26,637 (-17.8%), from €149,795 to €123,158
of which Trade receivables: -€35,057
- Tangible fixed assets -€11,455
down €11,455 (-8.4%), from €135,974 to €124,519
of which Furniture and vehicles: -€15,137
- Reserves +€70,540
up €70,540 (+30.4%), from €232,081 to €302,621
- Trade debts -€28,394
down €28,394 (-67.8%), from €41,850 to €13,456
- Tax, wage and social debts +€10,025
up €10,025 (+149.4%), from €6,712 to €16,737
- Gross operating margin +€22,587
up €22,587 (+18.4%), from €122,994 to €145,580
- Taxes +€5,681
up €5,681 (+21.0%), from €27,019 to €32,700
- Depreciation +€2,490
up €2,490 (+10.5%), from €23,728 to €26,219
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 | €453,912 | €502,469 | +€48,557 | +10.7% |
| Fixed assets | 21/28 | €135,974 | €124,519 | -€11,455 | -8.4% |
| Tangible fixed assets | 22/27 | €135,974 | €124,519 | -€11,455 | -8.4% |
| Land and buildings | 22 | €99,341 | €95,428 | -€3,913 | -3.9% |
| Plant, machinery and equipment | 23 | €1,889 | €11,301 | +€9,412 | +498.1% |
| Furniture and vehicles | 24 | €29,228 | €14,090 | -€15,137 | -51.8% |
| Other tangible fixed assets | 26 | €5,515 | €3,699 | -€1,816 | -32.9% |
| Current assets | 29/58 | €317,938 | €377,950 | +€60,012 | +18.9% |
| Stocks and contracts in progress | 3 | €6,500 | €6,500 | = | 0.0% |
| Stocks | 30/36 | €6,500 | €6,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €149,795 | €123,158 | -€26,637 | -17.8% |
| Trade receivables | 40 | €107,787 | €72,730 | -€35,057 | -32.5% |
| Other amounts receivable | 41 | €42,007 | €50,428 | +€8,421 | +20.0% |
| Current investments | 50/53 | €70,174 | €210,510 | +€140,336 | +200.0% |
| Cash at bank and in hand | 54/58 | €88,899 | €34,651 | -€54,249 | -61.0% |
| Deferred charges and accrued income | 490/1 | €2,571 | €3,132 | +€562 | +21.8% |
| Total equity and liabilities | 10/49 | €453,912 | €502,469 | +€48,557 | +10.7% |
| Equity | 10/15 | €233,802 | €304,342 | +€70,540 | +30.2% |
| Contributions | 10/11 | €1,721 | €1,721 | = | 0.0% |
| Reserves | 13 | €232,081 | €302,621 | +€70,540 | +30.4% |
| Distributable reserves | 133 | €232,081 | €302,621 | +€70,540 | +30.4% |
| Amounts payable | 17/49 | €220,110 | €198,127 | -€21,983 | -10.0% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €165,574 | €142,261 | -€23,313 | -14.1% |
| Trade debts | 44 | €41,850 | €13,456 | -€28,394 | -67.8% |
| Suppliers | 440/4 | €41,850 | €13,456 | -€28,394 | -67.8% |
| Taxes, remuneration and social security | 45 | €6,712 | €16,737 | +€10,025 | +149.4% |
| Taxes | 450/3 | €6,712 | €16,737 | +€10,025 | +149.4% |
| Other amounts payable | 47/48 | €117,012 | €112,068 | -€4,944 | -4.2% |
| Accrued charges and deferred income | 492/3 | €4,535 | €5,866 | +€1,330 | +29.3% |
| Remuneration, social security and pensions | 62 | €260 | - | -€260 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,728 | €26,219 | +€2,490 | +10.5% |
| Other operating charges | 640/8 | €3,206 | €3,796 | +€590 | +18.4% |
| Gross operating margin | 9900 | €122,994 | €145,580 | +€22,587 | +18.4% |
| Operating profit (loss) | 9901 | €95,799 | €115,566 | +€19,767 | +20.6% |
| Financial income | 75/76B | €3,070 | €3,416 | +€346 | +11.3% |
| Recurring financial income | 75 | €3,070 | €3,416 | +€346 | +11.3% |
| Financial charges | 65/66B | €4,729 | €5,802 | +€1,073 | +22.7% |
| Recurring financial charges | 65 | €4,729 | €5,802 | +€1,073 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €94,140 | €113,180 | +€19,040 | +20.2% |
| Income taxes | 67/77 | €27,019 | €32,700 | +€5,681 | +21.0% |
| Profit (loss) for the period | 9904 | €67,121 | €80,481 | +€13,360 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €67,121 | €80,481 | +€13,360 | +19.9% |
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.