ANF: 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.
ANF
Largest movements
- Tangible fixed assets +€21,056
up €21,056 (+232.4%), from €9,061 to €30,118
of which Furniture and vehicles: +€18,976
- Deferred charges and accrued income -€9,739
down €9,739 (-54.2%), from €17,969 to €8,230
- Cash +€9,041
up €9,041 (+95.3%), from €9,491 to €18,532
mainly Debts after one year (+€11,024) and Deferred charges and accrued income (+€9,739)
- Receivables within one year -€8,169
down €8,169 (-47.1%), from €17,326 to €9,157
of which Other amounts receivable: -€4,587
- Debts after one year +€11,024
new in 2025: €11,024
- Reserves +€1,285
up €1,285 (+3.1%), from €41,036 to €42,322
- Trade debts -€1,083
down €1,083 (-22.4%), from €4,828 to €3,745
- Current portion of long-term debt +€926
up €926 (+31.4%), from €2,944 to €3,870
- Gross operating margin +€6,667
up €6,667 (+113.0%), from €5,900 to €12,567
- Depreciation +€3,606
up €3,606 (+169.6%), from €2,126 to €5,732
- Other operating charges +€369
up €369 (+73.6%), from €501 to €869
- Taxes +€347
up €347 (+50.0%), from €694 to €1,042
- Financial charges +€191
up €191 (+5.9%), from €3,232 to €3,423
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 | €53,847 | €66,036 | +€12,189 | +22.6% |
| Fixed assets | 21/28 | €9,061 | €30,118 | +€21,056 | +232.4% |
| Tangible fixed assets | 22/27 | €9,061 | €30,118 | +€21,056 | +232.4% |
| Land and buildings | 22 | €2,528 | €2,128 | -€400 | -15.8% |
| Plant, machinery and equipment | 23 | €3,327 | €5,807 | +€2,480 | +74.6% |
| Furniture and vehicles | 24 | €3,206 | €22,182 | +€18,976 | +591.8% |
| Current assets | 29/58 | €44,785 | €35,918 | -€8,867 | -19.8% |
| Amounts receivable within one year | 40/41 | €17,326 | €9,157 | -€8,169 | -47.1% |
| Trade receivables | 40 | €10,175 | €6,593 | -€3,582 | -35.2% |
| Other amounts receivable | 41 | €7,151 | €2,564 | -€4,587 | -64.2% |
| Cash at bank and in hand | 54/58 | €9,491 | €18,532 | +€9,041 | +95.3% |
| Deferred charges and accrued income | 490/1 | €17,969 | €8,230 | -€9,739 | -54.2% |
| Total equity and liabilities | 10/49 | €53,847 | €66,036 | +€12,189 | +22.6% |
| Equity | 10/15 | €46,036 | €47,322 | +€1,285 | +2.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €41,036 | €42,322 | +€1,285 | +3.1% |
| Distributable reserves | 133 | €41,036 | €42,322 | +€1,285 | +3.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €7,810 | €18,714 | +€10,904 | +139.6% |
| Amounts payable after more than one year | 17 | - | €11,024 | +€11,024 | |
| Financial debts | 170/4 | - | €11,024 | +€11,024 | |
| Amounts payable within one year | 42/48 | €7,810 | €7,690 | -€120 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €2,944 | €3,870 | +€926 | +31.4% |
| Trade debts | 44 | €4,828 | €3,745 | -€1,083 | -22.4% |
| Suppliers | 440/4 | €4,828 | €3,745 | -€1,083 | -22.4% |
| Taxes, remuneration and social security | 45 | €38 | €75 | +€37 | +99.6% |
| Taxes | 450/3 | €38 | €75 | +€37 | +99.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €239 | €246 | +€7 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,126 | €5,732 | +€3,606 | +169.6% |
| Other operating charges | 640/8 | €501 | €869 | +€369 | +73.6% |
| Gross operating margin | 9900 | €5,900 | €12,567 | +€6,667 | +113.0% |
| Operating profit (loss) | 9901 | €3,034 | €5,720 | +€2,685 | +88.5% |
| Financial income | 75/76B | - | €30 | +€30 | |
| Recurring financial income | 75 | - | €30 | +€30 | |
| Financial charges | 65/66B | €3,232 | €3,423 | +€191 | +5.9% |
| Recurring financial charges | 65 | €3,232 | €3,423 | +€191 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | -€198 | €2,327 | +€2,525 | |
| Income taxes | 67/77 | €694 | €1,042 | +€347 | +50.0% |
| Profit (loss) for the period | 9904 | -€892 | €1,285 | +€2,178 | |
| Profit (loss) for the period to be appropriated | 9905 | -€892 | €1,285 | +€2,178 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.