ANFRAMA: 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.
ANFRAMA
Largest movements
- Tangible fixed assets +€56,098
up €56,098 (+26.9%), from €208,195 to €264,293
of which Land and buildings: +€60,397
- Cash -€18,068
down €18,068 (-60.5%), from €29,858 to €11,790
mainly Investment in fixed assets (net) (-€72,345) and Receivables within one year (-€4,964)
- Receivables within one year +€4,964
up €4,964 (+19253.7%), from €26 to €4,989
- Debts after one year +€42,876
up €42,876 (+171.4%), from €25,020 to €67,896
- Trade debts -€4,394
down €4,394 (-59.7%), from €7,361 to €2,966
- Current portion of long-term debt +€3,497
up €3,497 (+38.3%), from €9,129 to €12,626
- Gross operating margin +€31,165
up €31,165, from -€6,763 to €24,402
- Depreciation +€6,085
up €6,085 (+59.9%), from €10,162 to €16,247
- Financial charges +€1,426
up €1,426 (+88.9%), from €1,604 to €3,030
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 | €251,611 | €294,585 | +€42,974 | +17.1% |
| Fixed assets | 21/28 | €208,195 | €264,293 | +€56,098 | +26.9% |
| Tangible fixed assets | 22/27 | €208,195 | €264,293 | +€56,098 | +26.9% |
| Land and buildings | 22 | €194,257 | €254,654 | +€60,397 | +31.1% |
| Plant, machinery and equipment | 23 | €13,938 | €9,639 | -€4,299 | -30.8% |
| Current assets | 29/58 | €43,417 | €30,292 | -€13,124 | -30.2% |
| Amounts receivable within one year | 40/41 | €26 | €4,989 | +€4,964 | +19253.7% |
| Other amounts receivable | 41 | €26 | €4,989 | +€4,964 | +19253.7% |
| Current investments | 50/53 | €12,923 | €12,978 | +€55 | +0.4% |
| Cash at bank and in hand | 54/58 | €29,858 | €11,790 | -€18,068 | -60.5% |
| Deferred charges and accrued income | 490/1 | €610 | €535 | -€75 | -12.3% |
| Total equity and liabilities | 10/49 | €251,611 | €294,585 | +€42,974 | +17.1% |
| Equity | 10/15 | €208,870 | €209,864 | +€995 | +0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €146,870 | €147,864 | +€995 | +0.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €140,670 | €141,664 | +€995 | +0.7% |
| Amounts payable | 17/49 | €42,741 | €84,721 | +€41,979 | +98.2% |
| Amounts payable after more than one year | 17 | €25,020 | €67,896 | +€42,876 | +171.4% |
| Financial debts | 170/4 | €25,020 | €67,896 | +€42,876 | +171.4% |
| Amounts payable within one year | 42/48 | €17,721 | €16,824 | -€897 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €9,129 | €12,626 | +€3,497 | +38.3% |
| Trade debts | 44 | €7,361 | €2,966 | -€4,394 | -59.7% |
| Suppliers | 440/4 | €7,361 | €2,966 | -€4,394 | -59.7% |
| Taxes, remuneration and social security | 45 | €600 | €600 | = | 0.0% |
| Remuneration and social security | 454/9 | €600 | €600 | = | 0.0% |
| Other amounts payable | 47/48 | €632 | €632 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,162 | €16,247 | +€6,085 | +59.9% |
| Other operating charges | 640/8 | €4,195 | €4,327 | +€131 | +3.1% |
| Gross operating margin | 9900 | -€6,763 | €24,402 | +€31,165 | |
| Operating profit (loss) | 9901 | -€21,120 | €3,828 | +€24,948 | |
| Financial income | 75/76B | €86 | €296 | +€210 | +244.6% |
| Recurring financial income | 75 | €86 | €296 | +€210 | +244.6% |
| Financial charges | 65/66B | €1,604 | €3,030 | +€1,426 | +88.9% |
| Recurring financial charges | 65 | €1,604 | €3,030 | +€1,426 | +88.9% |
| Profit (loss) for the period before taxes | 9903 | -€22,638 | €1,094 | +€23,732 | |
| Income taxes | 67/77 | - | €99 | +€99 | |
| Profit (loss) for the period | 9904 | -€22,638 | €995 | +€23,633 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,638 | €995 | +€23,633 |
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.