ANERMA RESEARCH: 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.
ANERMA RESEARCH
Largest movements
- Cash +€1.8m
up €1.8m (+423%), from €415,318 to €2.2m
mainly Net result for the year (+€2.0m) and Trade debts (+€255,754)
- Receivables within one year +€268,603
up €268,603 (+213%), from €126,234 to €394,837
of which Trade receivables: +€266,186
- Stocks and contracts +€225,547
up €225,547 (+815%), from €27,664 to €253,211
- Reserves +€2.0m
up €2.0m (+820%), from €242,315 to €2.2m
of which Distributable reserves: +€2.0m
- Trade debts +€255,754
up €255,754 (+337%), from €75,863 to €331,618
- Tax, wage and social debts +€171,538
up €171,538 (+174%), from €98,445 to €269,982
of which Taxes: +€183,499
- Other debts -€154,575
down €154,575 (-96.9%), from €159,591 to €5,016
- Turnover +€3.4m
up €3.4m (+382%), from €887,471 to €4.3m
- Gross operating margin +€2.3m
up €2.3m (+500%), from €468,203 to €2.8m
- Purchases and services +€1.0m
up €1.0m (+250%), from €419,268 to €1.5m
- Taxes +€558,035
up €558,035 (+526%), from €106,079 to €664,114
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 | €601,213 | €2,860,472 | +€2.3m | +376% |
| Fixed assets | 21/28 | €31,000 | €39,763 | +€8,763 | +28.3% |
| Tangible fixed assets | 22/27 | €31,000 | €39,763 | +€8,763 | +28.3% |
| Plant, machinery and equipment | 23 | - | €16,374 | +€16,374 | |
| Furniture and vehicles | 24 | €31,000 | €23,389 | -€7,611 | -24.6% |
| Current assets | 29/58 | €570,214 | €2,820,709 | +€2.3m | +395% |
| Stocks and contracts in progress | 3 | €27,664 | €253,211 | +€225,547 | +815% |
| Stocks | 30/36 | €27,664 | €253,211 | +€225,547 | +815% |
| Amounts receivable within one year | 40/41 | €126,234 | €394,837 | +€268,603 | +213% |
| Trade receivables | 40 | €126,195 | €392,381 | +€266,186 | +211% |
| Other amounts receivable | 41 | €39 | €2,456 | +€2,418 | +6,226% |
| Cash at bank and in hand | 54/58 | €415,318 | €2,170,362 | +€1.8m | +423% |
| Deferred charges and accrued income | 490/1 | €998 | €2,299 | +€1,301 | +130% |
| Total equity and liabilities | 10/49 | €601,213 | €2,860,472 | +€2.3m | +376% |
| Equity | 10/15 | €267,315 | €2,253,856 | +€2.0m | +743% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €242,315 | €2,228,856 | +€2.0m | +820% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €239,815 | €2,226,356 | +€2.0m | +828% |
| Amounts payable | 17/49 | €333,899 | €606,616 | +€272,717 | +81.7% |
| Amounts payable within one year | 42/48 | €333,899 | €606,616 | +€272,717 | +81.7% |
| Trade debts | 44 | €75,863 | €331,618 | +€255,754 | +337% |
| Suppliers | 440/4 | €75,863 | €331,618 | +€255,754 | +337% |
| Taxes, remuneration and social security | 45 | €98,445 | €269,982 | +€171,538 | +174% |
| Taxes | 450/3 | €62,671 | €246,169 | +€183,499 | +293% |
| Remuneration and social security | 454/9 | €35,774 | €23,813 | -€11,961 | -33.4% |
| Other amounts payable | 47/48 | €159,591 | €5,016 | -€154,575 | -96.9% |
| Turnover | 70 | €887,471 | €4,277,443 | +€3.4m | +382% |
| Goods, raw materials, services and sundry goods | 60/61 | €419,268 | €1,469,260 | +€1.0m | +250% |
| Remuneration, social security and pensions | 62 | €140,787 | €153,334 | +€12,548 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,484 | €11,038 | +€2,553 | +30.1% |
| Other operating charges | 640/8 | €926 | €1,002 | +€76 | +8.2% |
| Gross operating margin | 9900 | €468,203 | €2,808,182 | +€2.3m | +500% |
| Operating profit (loss) | 9901 | €318,007 | €2,642,808 | +€2.3m | +731% |
| Financial income | 75/76B | - | €8,058 | +€8,058 | |
| Recurring financial income | 75 | - | €8,058 | +€8,058 | |
| Financial charges | 65/66B | €115 | €212 | +€97 | +84.5% |
| Recurring financial charges | 65 | €115 | €212 | +€97 | +84.5% |
| Profit (loss) for the period before taxes | 9903 | €317,892 | €2,650,655 | +€2.3m | +734% |
| Income taxes | 67/77 | €106,079 | €664,114 | +€558,035 | +526% |
| Profit (loss) for the period | 9904 | €211,813 | €1,986,541 | +€1.8m | +838% |
| Profit (loss) for the period to be appropriated | 9905 | €211,813 | €1,986,541 | +€1.8m | +838% |
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 28 October 2026 via checked.be.