ANGEL CONSTRUCT: 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.
ANGEL CONSTRUCT
Largest movements
- Receivables within one year +€12,822
up €12,822 (+28.5%), from €45,019 to €57,841
of which Trade receivables: +€14,169
- Cash +€1,780
up €1,780 (+16.6%), from €10,754 to €12,534
mainly Net result for the year (+€12,915) and Trade debts (+€6,415)
- Profit (loss) carried forward +€12,915
up €12,915 (+20.0%), from €64,444 to €77,360
- Current portion of long-term debt -€6,583
down €6,583 (-90.0%), from €7,315 to €733
- Trade debts +€6,415
up €6,415 (+41.2%), from €15,553 to €21,968
of which Suppliers: +€10,092
- Tax, wage and social debts +€1,456
up €1,456 (+30.9%), from €4,709 to €6,165
- Purchases and services -€28,722
down €28,722 (-15.2%), from €189,240 to €160,518
- Turnover -€23,814
down €23,814 (-11.3%), from €211,394 to €187,580
- Gross operating margin +€4,908
up €4,908 (+22.2%), from €22,154 to €27,062
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 | €96,023 | €110,625 | +€14,603 | +15.2% |
| Fixed assets | 21/28 | €250 | €250 | = | 0.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €95,773 | €110,375 | +€14,603 | +15.2% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €45,019 | €57,841 | +€12,822 | +28.5% |
| Trade receivables | 40 | €12,742 | €26,911 | +€14,169 | +111% |
| Other amounts receivable | 41 | €32,277 | €30,931 | -€1,346 | -4.2% |
| Cash at bank and in hand | 54/58 | €10,754 | €12,534 | +€1,780 | +16.6% |
| Total equity and liabilities | 10/49 | €96,023 | €110,625 | +€14,603 | +15.2% |
| Equity | 10/15 | €68,444 | €81,360 | +€12,915 | +18.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,444 | €77,360 | +€12,915 | +20.0% |
| Amounts payable | 17/49 | €27,578 | €29,266 | +€1,688 | +6.1% |
| Amounts payable within one year | 42/48 | €27,578 | €28,866 | +€1,288 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €7,315 | €733 | -€6,583 | -90.0% |
| Trade debts | 44 | €15,553 | €21,968 | +€6,415 | +41.2% |
| Suppliers | 440/4 | €9,476 | €19,568 | +€10,092 | +106% |
| Bills of exchange payable | 441 | €6,077 | €2,400 | -€3,677 | -60.5% |
| Taxes, remuneration and social security | 45 | €4,709 | €6,165 | +€1,456 | +30.9% |
| Taxes | 450/3 | €4,709 | €6,165 | +€1,456 | +30.9% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Turnover | 70 | €211,394 | €187,580 | -€23,814 | -11.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €189,240 | €160,518 | -€28,722 | -15.2% |
| Other operating charges | 640/8 | €1,096 | €1,428 | +€332 | +30.3% |
| Gross operating margin | 9900 | €22,154 | €27,062 | +€4,908 | +22.2% |
| Operating profit (loss) | 9901 | €21,058 | €25,634 | +€4,576 | +21.7% |
| Financial income | 75/76B | €335 | €1,757 | +€1,422 | +425% |
| Recurring financial income | 75 | €335 | €1,757 | +€1,422 | +425% |
| Financial charges | 65/66B | €8,792 | €10,520 | +€1,728 | +19.7% |
| Recurring financial charges | 65 | €8,792 | €10,520 | +€1,728 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €12,601 | €16,871 | +€4,270 | +33.9% |
| Income taxes | 67/77 | €2,962 | €3,956 | +€994 | +33.6% |
| Profit (loss) for the period | 9904 | €9,639 | €12,915 | +€3,276 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,639 | €12,915 | +€3,276 | +34.0% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.