ANFRAMO: 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.
ANFRAMO
Largest movements
- Cash -€60,583
down €60,583 (-65.3%), from €92,817 to €32,234
mainly Debts after one year (-€116,749) and Net result for the year (-€26,504)
- Tangible fixed assets -€58,171
down €58,171 (-5.0%), from €1.2m to €1.1m
of which Other tangible fixed assets: -€57,059
- Debts after one year -€116,749
down €116,749 (-19.9%), from €586,102 to €469,353
- Reserves -€26,504
down €26,504 (-7.2%), from €366,943 to €340,439
of which Distributable reserves: -€14,611
- Accrued charges and deferred income +€21,854
up €21,854 (+523.5%), from €4,175 to €26,029
- Gross operating margin -€26,986
down €26,986 (-26.8%), from €100,602 to €73,616
- Financial charges +€21,106
up €21,106 (+28716.2%), from €74 to €21,180
- Depreciation -€13,122
down €13,122 (-15.0%), from €87,679 to €74,557
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,247,444 | €1,128,717 | -€118,727 | -9.5% |
| Fixed assets | 21/28 | €1,154,051 | €1,095,880 | -€58,171 | -5.0% |
| Tangible fixed assets | 22/27 | €1,154,051 | €1,095,880 | -€58,171 | -5.0% |
| Furniture and vehicles | 24 | €3,040 | €1,928 | -€1,112 | -36.6% |
| Other tangible fixed assets | 26 | €1,151,010 | €1,093,952 | -€57,059 | -5.0% |
| Current assets | 29/58 | €93,394 | €32,837 | -€60,556 | -64.8% |
| Amounts receivable within one year | 40/41 | €111 | €118 | +€7 | +6.8% |
| Other amounts receivable | 41 | €111 | €118 | +€7 | +6.8% |
| Cash at bank and in hand | 54/58 | €92,817 | €32,234 | -€60,583 | -65.3% |
| Deferred charges and accrued income | 490/1 | €466 | €485 | +€19 | +4.1% |
| Total equity and liabilities | 10/49 | €1,247,444 | €1,128,717 | -€118,727 | -9.5% |
| Equity | 10/15 | €639,626 | €613,122 | -€26,504 | -4.1% |
| Contributions | 10/11 | €272,683 | €272,683 | = | 0.0% |
| Capital | 10 | €272,683 | €272,683 | = | 0.0% |
| Issued capital | 100 | €272,683 | €272,683 | = | 0.0% |
| Reserves | 13 | €366,943 | €340,439 | -€26,504 | -7.2% |
| Non-distributable reserves | 130/1 | €27,268 | €27,268 | = | 0.0% |
| Legal reserve | 130 | €27,268 | €27,268 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,111 | €6,219 | -€11,892 | -65.7% |
| Distributable reserves | 133 | €321,563 | €306,952 | -€14,611 | -4.5% |
| Provisions and deferred taxes | 16 | €6,037 | €2,073 | -€3,964 | -65.7% |
| Deferred taxes | 168 | €6,037 | €2,073 | -€3,964 | -65.7% |
| Amounts payable | 17/49 | €601,781 | €513,522 | -€88,259 | -14.7% |
| Amounts payable after more than one year | 17 | €586,102 | €469,353 | -€116,749 | -19.9% |
| Other amounts payable | 178/9 | €586,102 | €469,353 | -€116,749 | -19.9% |
| Amounts payable within one year | 42/48 | €11,504 | €18,140 | +€6,636 | +57.7% |
| Trade debts | 44 | €1,241 | €6,098 | +€4,857 | +391.5% |
| Suppliers | 440/4 | €1,241 | €6,098 | +€4,857 | +391.5% |
| Taxes, remuneration and social security | 45 | €2,989 | €4,627 | +€1,638 | +54.8% |
| Taxes | 450/3 | €2,989 | €4,627 | +€1,638 | +54.8% |
| Other amounts payable | 47/48 | €7,275 | €7,415 | +€140 | +1.9% |
| Accrued charges and deferred income | 492/3 | €4,175 | €26,029 | +€21,854 | +523.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,679 | €74,557 | -€13,122 | -15.0% |
| Other operating charges | 640/8 | €8,056 | €8,215 | +€159 | +2.0% |
| Gross operating margin | 9900 | €100,602 | €73,616 | -€26,986 | -26.8% |
| Operating profit (loss) | 9901 | €4,867 | -€9,156 | -€14,023 | |
| Financial charges | 65/66B | €74 | €21,180 | +€21,106 | +28716.2% |
| Recurring financial charges | 65 | €74 | €21,180 | +€21,106 | +28716.2% |
| Profit (loss) for the period before taxes | 9903 | €4,794 | -€30,336 | -€35,130 | |
| Transfer from deferred taxes | 780 | €3,964 | €3,964 | = | 0.0% |
| Income taxes | 67/77 | €139 | €132 | -€7 | -5.4% |
| Profit (loss) for the period | 9904 | €8,619 | -€26,504 | -€35,122 | |
| Transfer from tax-exempt reserves | 789 | €11,892 | €11,892 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,511 | -€14,611 | -€35,122 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.