ANFRI: 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.
ANFRI
Largest movements
- Receivables within one year +€12,132
up €12,132 (+239.3%), from €5,070 to €17,202
of which Other amounts receivable: +€16,674
- Cash +€959
up €959, from €0 to €959
mainly Net result for the year (+€10,916) and Other debts (+€9,339)
- Profit (loss) carried forward +€10,916
up €10,916 (+8.7%), from -€125,536 to -€114,620
- Other debts +€9,339
up €9,339 (+33.8%), from €27,616 to €36,955
- Trade debts -€4,394
down €4,394 (-94.6%), from €4,646 to €252
- Short-term financial debts -€1,352
down €1,352 (-100.0%), from €1,352 to €0
- Advances received -€906
down €906 (-100.0%), from €906 to €0
- Staff costs -€29,616
down €29,616 (-100.0%), from €29,616 to €0
- Gross operating margin +€3,654
up €3,654 (+43.8%), from €8,336 to €11,990
- Financial income +€517
up €517 (+1270.6%), from €41 to €558
- Taxes -€371
down €371 (-100.0%), from €371 to €0
- Depreciation -€310
down €310 (-94.0%), from €330 to €20
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 | €5,603 | €18,674 | +€13,071 | +233.3% |
| Fixed assets | 21/28 | €534 | €514 | -€20 | -3.7% |
| Tangible fixed assets | 22/27 | €134 | €114 | -€20 | -14.8% |
| Furniture and vehicles | 24 | €134 | €114 | -€20 | -14.8% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €5,070 | €18,160 | +€13,091 | +258.2% |
| Amounts receivable within one year | 40/41 | €5,070 | €17,202 | +€12,132 | +239.3% |
| Trade receivables | 40 | €4,542 | €0 | -€4,542 | -100.0% |
| Other amounts receivable | 41 | €528 | €17,202 | +€16,674 | +3159.3% |
| Cash at bank and in hand | 54/58 | €0 | €959 | +€959 | |
| Total equity and liabilities | 10/49 | €5,603 | €18,674 | +€13,071 | +233.3% |
| Equity | 10/15 | -€82,326 | -€71,410 | +€10,916 | +13.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €24,618 | €24,618 | = | 0.0% |
| Distributable reserves | 133 | €24,618 | €24,618 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€125,536 | -€114,620 | +€10,916 | +8.7% |
| Amounts payable | 17/49 | €87,929 | €90,084 | +€2,155 | +2.5% |
| Amounts payable after more than one year | 17 | €52,101 | €52,101 | = | 0.0% |
| Other amounts payable | 178/9 | €52,101 | €52,101 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,829 | €37,983 | +€2,155 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €1,352 | €0 | -€1,352 | -100.0% |
| Credit institutions | 430/8 | €1,352 | €0 | -€1,352 | -100.0% |
| Trade debts | 44 | €4,646 | €252 | -€4,394 | -94.6% |
| Suppliers | 440/4 | €4,646 | €252 | -€4,394 | -94.6% |
| Advances received on contracts in progress | 46 | €906 | €0 | -€906 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,308 | €777 | -€532 | -40.7% |
| Taxes | 450/3 | €1,308 | €777 | -€532 | -40.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €27,616 | €36,955 | +€9,339 | +33.8% |
| Remuneration, social security and pensions | 62 | €29,616 | €0 | -€29,616 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330 | €20 | -€310 | -94.0% |
| Other operating charges | 640/8 | €1,062 | €1,068 | +€6 | +0.5% |
| Gross operating margin | 9900 | €8,336 | €11,990 | +€3,654 | +43.8% |
| Operating profit (loss) | 9901 | -€22,672 | €10,902 | +€33,574 | |
| Financial income | 75/76B | €41 | €558 | +€517 | +1270.6% |
| Recurring financial income | 75 | €41 | €558 | +€517 | +1270.6% |
| Financial charges | 65/66B | €770 | €543 | -€226 | -29.4% |
| Recurring financial charges | 65 | €770 | €543 | -€226 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | -€23,401 | €10,916 | +€34,317 | |
| Income taxes | 67/77 | €371 | €0 | -€371 | -100.0% |
| Profit (loss) for the period | 9904 | -€23,771 | €10,916 | +€34,687 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,771 | €10,916 | +€34,687 |
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 5 October 2026 via checked.be.