ANFA: 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.
ANFA
Largest movements
- Receivables within one year -€38,660
down €38,660 (-84.6%), from €45,690 to €7,030
of which Trade receivables: -€44,235
- Cash -€8,394
down €8,394 (-14.1%), from €59,363 to €50,970
mainly Advances received (-€37,734) and Trade debts (-€14,230)
- Stocks and contracts -€5,081
down €5,081 (-35.0%), from €14,521 to €9,439
- Advances received -€37,734
no longer reported in 2025 (was €37,734)
- Trade debts -€14,230
down €14,230 (-96.2%), from €14,796 to €566
- Tax, wage and social debts -€7,929
down €7,929 (-13.5%), from €58,847 to €50,918
of which Remuneration and social security: -€4,565
- Profit (loss) carried forward +€7,759
up €7,759, from -€6,803 to €955
- Gross operating margin +€7,822
up €7,822 (+13.4%), from €58,521 to €66,343
- Staff costs +€2,831
up €2,831 (+5.1%), from €55,507 to €58,339
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 | €119,574 | €67,439 | -€52,134 | -43.6% |
| Current assets | 29/58 | €119,574 | €67,439 | -€52,134 | -43.6% |
| Stocks and contracts in progress | 3 | €14,521 | €9,439 | -€5,081 | -35.0% |
| Stocks | 30/36 | €14,521 | €9,439 | -€5,081 | -35.0% |
| Amounts receivable within one year | 40/41 | €45,690 | €7,030 | -€38,660 | -84.6% |
| Trade receivables | 40 | €44,235 | - | -€44,235 | |
| Other amounts receivable | 41 | €1,454 | €7,030 | +€5,576 | +383.4% |
| Cash at bank and in hand | 54/58 | €59,363 | €50,970 | -€8,394 | -14.1% |
| Total equity and liabilities | 10/49 | €119,574 | €67,439 | -€52,134 | -43.6% |
| Equity | 10/15 | €8,197 | €15,955 | +€7,759 | +94.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,803 | €955 | +€7,759 | |
| Amounts payable | 17/49 | €111,377 | €51,484 | -€59,893 | -53.8% |
| Amounts payable within one year | 42/48 | €111,377 | €51,484 | -€59,893 | -53.8% |
| Trade debts | 44 | €14,796 | €566 | -€14,230 | -96.2% |
| Suppliers | 440/4 | €14,796 | €566 | -€14,230 | -96.2% |
| Advances received on contracts in progress | 46 | €37,734 | - | -€37,734 | |
| Taxes, remuneration and social security | 45 | €58,847 | €50,918 | -€7,929 | -13.5% |
| Taxes | 450/3 | €19,792 | €16,427 | -€3,364 | -17.0% |
| Remuneration and social security | 454/9 | €39,055 | €34,491 | -€4,565 | -11.7% |
| Remuneration, social security and pensions | 62 | €55,507 | €58,339 | +€2,831 | +5.1% |
| Other operating charges | 640/8 | - | €68 | +€68 | |
| Gross operating margin | 9900 | €58,521 | €66,343 | +€7,822 | +13.4% |
| Operating profit (loss) | 9901 | €3,014 | €7,937 | +€4,923 | +163.3% |
| Financial income | 75/76B | €57 | €141 | +€84 | +149.3% |
| Recurring financial income | 75 | €57 | €141 | +€84 | +149.3% |
| Financial charges | 65/66B | €918 | €319 | -€599 | -65.2% |
| Recurring financial charges | 65 | €918 | €319 | -€599 | -65.2% |
| Profit (loss) for the period before taxes | 9903 | €2,152 | €7,759 | +€5,606 | +260.5% |
| Income taxes | 67/77 | €642 | - | -€642 | |
| Profit (loss) for the period | 9904 | €1,511 | €7,759 | +€6,248 | +413.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,511 | €7,759 | +€6,248 | +413.6% |
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 7 October 2026 via checked.be.