ANGEDRAS: 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.
ANGEDRAS
Largest movements
- Tangible fixed assets -€31,367
down €31,367 (-16.2%), from €193,896 to €162,529
of which Other tangible fixed assets: -€18,863
- Receivables within one year +€14,117
up €14,117 (+21.7%), from €64,908 to €79,025
of which Other amounts receivable: +€20,600
- Financial fixed assets +€3,690
up €3,690 (+24.3%), from €15,200 to €18,890
- Tax, wage and social debts +€16,848
up €16,848 (+26.6%), from €63,376 to €80,224
of which Remuneration and social security: +€19,315
- Profit (loss) carried forward -€11,684
down €11,684 (-19.6%), from €59,704 to €48,020
- Debts after one year -€9,237
down €9,237 (-22.1%), from €41,737 to €32,500
- Current portion of long-term debt -€6,434
down €6,434 (-41.1%), from €15,671 to €9,237
- Trade debts -€4,814
down €4,814 (-6.2%), from €77,469 to €72,656
- Gross operating margin -€42,482
down €42,482 (-23.7%), from €178,900 to €136,418
- Taxes -€17,868
down €17,868 (-94.6%), from €18,894 to €1,026
- Financial charges -€14,881
down €14,881 (-37.6%), from €39,530 to €24,649
- Other operating charges -€14,679
down €14,679 (-93.2%), from €15,751 to €1,072
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 | €282,671 | €266,987 | -€15,685 | -5.5% |
| Fixed assets | 21/28 | €209,096 | €181,419 | -€27,677 | -13.2% |
| Tangible fixed assets | 22/27 | €193,896 | €162,529 | -€31,367 | -16.2% |
| Plant, machinery and equipment | 23 | €5,481 | €804 | -€4,676 | -85.3% |
| Furniture and vehicles | 24 | €56,073 | €48,245 | -€7,829 | -14.0% |
| Other tangible fixed assets | 26 | €132,342 | €113,479 | -€18,863 | -14.3% |
| Financial fixed assets | 28 | €15,200 | €18,890 | +€3,690 | +24.3% |
| Current assets | 29/58 | €73,576 | €85,568 | +€11,993 | +16.3% |
| Stocks and contracts in progress | 3 | €3,870 | €3,870 | = | 0.0% |
| Stocks | 30/36 | €3,870 | €3,870 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €64,908 | €79,025 | +€14,117 | +21.7% |
| Trade receivables | 40 | €7,067 | €584 | -€6,482 | -91.7% |
| Other amounts receivable | 41 | €57,841 | €78,441 | +€20,600 | +35.6% |
| Cash at bank and in hand | 54/58 | €2,686 | - | -€2,686 | |
| Deferred charges and accrued income | 490/1 | €2,112 | €2,673 | +€561 | +26.6% |
| Total equity and liabilities | 10/49 | €282,671 | €266,987 | -€15,685 | -5.5% |
| Equity | 10/15 | €79,704 | €68,020 | -€11,684 | -14.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,704 | €48,020 | -€11,684 | -19.6% |
| Amounts payable | 17/49 | €202,967 | €198,967 | -€4,001 | -2.0% |
| Amounts payable after more than one year | 17 | €41,737 | €32,500 | -€9,237 | -22.1% |
| Financial debts | 170/4 | €41,737 | €32,500 | -€9,237 | -22.1% |
| Amounts payable within one year | 42/48 | €161,230 | €166,467 | +€5,237 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €15,671 | €9,237 | -€6,434 | -41.1% |
| Financial debts | 43 | €4,714 | €4,350 | -€364 | -7.7% |
| Credit institutions | 430/8 | €4,714 | €4,350 | -€364 | -7.7% |
| Trade debts | 44 | €77,469 | €72,656 | -€4,814 | -6.2% |
| Suppliers | 440/4 | €77,469 | €72,656 | -€4,814 | -6.2% |
| Taxes, remuneration and social security | 45 | €63,376 | €80,224 | +€16,848 | +26.6% |
| Taxes | 450/3 | €32,240 | €29,774 | -€2,467 | -7.7% |
| Remuneration and social security | 454/9 | €31,136 | €50,451 | +€19,315 | +62.0% |
| Remuneration, social security and pensions | 62 | €81,483 | €82,067 | +€584 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,623 | €42,930 | -€693 | -1.6% |
| Other operating charges | 640/8 | €15,751 | €1,072 | -€14,679 | -93.2% |
| Gross operating margin | 9900 | €178,900 | €136,418 | -€42,482 | -23.7% |
| Operating profit (loss) | 9901 | €38,044 | €10,350 | -€27,694 | -72.8% |
| Financial income | 75/76B | €2,787 | €3,642 | +€854 | +30.7% |
| Recurring financial income | 75 | €2,787 | €3,642 | +€854 | +30.7% |
| Financial charges | 65/66B | €39,530 | €24,649 | -€14,881 | -37.6% |
| Recurring financial charges | 65 | €39,530 | €24,649 | -€14,881 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €1,301 | -€10,658 | -€11,959 | |
| Income taxes | 67/77 | €18,894 | €1,026 | -€17,868 | -94.6% |
| Profit (loss) for the period | 9904 | -€17,593 | -€11,684 | +€5,909 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,593 | -€11,684 | +€5,909 | +33.6% |
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 12 October 2026 via checked.be.