Anfa Projects: 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.
Anfa Projects
Largest movements
- Receivables within one year -€90,077
down €90,077 (-82.7%), from €108,894 to €18,818
of which Trade receivables: -€69,569
- Cash -€22,874
down €22,874 (-50.6%), from €45,164 to €22,290
mainly Advances received (-€66,462) and Net result for the year (-€43,491)
- Current investments -€9,776
no longer reported in 2025 (was €9,776)
- Financial fixed assets +€3,000
up €3,000 (+600%), from €500 to €3,500
- Tangible fixed assets +€2,710
up €2,710 (+20.8%), from €13,000 to €15,710
of which Furniture and vehicles: +€6,413
- Advances received -€66,462
no longer reported in 2025 (was €66,462)
- Reserves -€53,491
down €53,491 (-59.7%), from €89,526 to €36,035
- Gross operating margin -€140,104
down €140,104, from €117,983 to -€22,121
- Taxes -€23,709
down €23,709 (-95.4%), from €24,857 to €1,148
- Financial charges +€13,466
up €13,466 (+181,233%), from €7 to €13,473
of which Non-recurring financial charges: +€13,119
- Financial income -€4,011
down €4,011 (-94.7%), from €4,235 to €224
- Depreciation -€2,016
down €2,016 (-28.2%), from €7,157 to €5,141
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 | €181,198 | €64,411 | -€116,787 | -64.5% |
| Fixed assets | 21/28 | €13,500 | €19,210 | +€5,710 | +42.3% |
| Tangible fixed assets | 22/27 | €13,000 | €15,710 | +€2,710 | +20.8% |
| Plant, machinery and equipment | 23 | €6,031 | €3,003 | -€3,027 | -50.2% |
| Furniture and vehicles | 24 | €2,212 | €8,625 | +€6,413 | +290% |
| Other tangible fixed assets | 26 | €4,757 | €4,082 | -€676 | -14.2% |
| Financial fixed assets | 28 | €500 | €3,500 | +€3,000 | +600% |
| Current assets | 29/58 | €167,698 | €45,201 | -€122,498 | -73.0% |
| Amounts receivable within one year | 40/41 | €108,894 | €18,818 | -€90,077 | -82.7% |
| Trade receivables | 40 | €82,873 | €13,303 | -€69,569 | -83.9% |
| Other amounts receivable | 41 | €26,021 | €5,514 | -€20,507 | -78.8% |
| Current investments | 50/53 | €9,776 | - | -€9,776 | |
| Cash at bank and in hand | 54/58 | €45,164 | €22,290 | -€22,874 | -50.6% |
| Deferred charges and accrued income | 490/1 | €3,863 | €4,093 | +€229 | +5.9% |
| Total equity and liabilities | 10/49 | €181,198 | €64,411 | -€116,787 | -64.5% |
| Equity | 10/15 | €91,526 | €38,035 | -€53,491 | -58.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €89,526 | €36,035 | -€53,491 | -59.7% |
| Distributable reserves | 133 | €89,526 | €36,035 | -€53,491 | -59.7% |
| Amounts payable | 17/49 | €89,673 | €26,376 | -€63,297 | -70.6% |
| Amounts payable within one year | 42/48 | €89,673 | €26,376 | -€63,297 | -70.6% |
| Trade debts | 44 | €8,368 | €8,801 | +€433 | +5.2% |
| Suppliers | 440/4 | €8,368 | €8,801 | +€433 | +5.2% |
| Advances received on contracts in progress | 46 | €66,462 | - | -€66,462 | |
| Taxes, remuneration and social security | 45 | €14,843 | €15,935 | +€1,092 | +7.4% |
| Taxes | 450/3 | €14,843 | €15,935 | +€1,092 | +7.4% |
| Other amounts payable | 47/48 | - | €1,640 | +€1,640 | |
| Remuneration, social security and pensions | 62 | - | €272 | +€272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,157 | €5,141 | -€2,016 | -28.2% |
| Other operating charges | 640/8 | €1,353 | €1,559 | +€206 | +15.3% |
| Gross operating margin | 9900 | €117,983 | -€22,121 | -€140,104 | |
| Operating profit (loss) | 9901 | €109,473 | -€29,094 | -€138,567 | |
| Financial income | 75/76B | €4,235 | €224 | -€4,011 | -94.7% |
| Recurring financial income | 75 | €4,235 | €224 | -€4,011 | -94.7% |
| Financial charges | 65/66B | €7 | €13,473 | +€13,466 | +181,233% |
| Recurring financial charges | 65 | €7 | €354 | +€346 | +4,659% |
| Non-recurring financial charges | 66B | - | €13,119 | +€13,119 | |
| Profit (loss) for the period before taxes | 9903 | €113,701 | -€42,342 | -€156,043 | |
| Income taxes | 67/77 | €24,857 | €1,148 | -€23,709 | -95.4% |
| Profit (loss) for the period | 9904 | €88,843 | -€43,491 | -€132,334 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,843 | -€43,491 | -€132,334 |
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 14 October 2026 via checked.be.