ANGEL & GT: 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 & GT
Largest movements
- Cash +€53,324
up €53,324 (+420%), from €12,691 to €66,015
mainly Net result for the year (+€34,038) and Tax, wage and social debts (+€16,007)
- Stocks and contracts -€6,854
down €6,854 (-71.6%), from €9,566 to €2,712
- Intangible fixed assets -€5,000
down €5,000 (-12.3%), from €40,808 to €35,808
- Receivables within one year -€2,927
down €2,927 (-20.9%), from €13,981 to €11,053
of which Other amounts receivable: -€2,697
- Tangible fixed assets +€1,393
up €1,393 (+31.3%), from €4,447 to €5,840
of which Leasing and similar rights: +€2,381
- Profit (loss) carried forward +€34,038
up €34,038, from -€33,338 to €700
- Tax, wage and social debts +€16,007
up €16,007 (+71.7%), from €22,320 to €38,327
of which Remuneration and social security: +€13,580
- Other debts -€5,692
down €5,692 (-9.2%), from €62,095 to €56,403
- Trade debts -€4,418
down €4,418 (-15.4%), from €28,692 to €24,273
- Gross operating margin +€50,580
up €50,580 (+58.9%), from €85,810 to €136,390
- Staff costs +€5,442
up €5,442 (+6.1%), from €89,641 to €95,083
- Financial charges -€1,544
down €1,544 (-85.5%), from €1,806 to €262
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 | €83,769 | €123,704 | +€39,936 | +47.7% |
| Fixed assets | 21/28 | €47,256 | €43,648 | -€3,607 | -7.6% |
| Intangible fixed assets | 21 | €40,808 | €35,808 | -€5,000 | -12.3% |
| Tangible fixed assets | 22/27 | €4,447 | €5,840 | +€1,393 | +31.3% |
| Plant, machinery and equipment | 23 | €4,447 | €3,459 | -€988 | -22.2% |
| Leasing and similar rights | 25 | - | €2,381 | +€2,381 | |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €36,513 | €80,056 | +€43,543 | +119% |
| Stocks and contracts in progress | 3 | €9,566 | €2,712 | -€6,854 | -71.6% |
| Stocks | 30/36 | €9,566 | €2,712 | -€6,854 | -71.6% |
| Amounts receivable within one year | 40/41 | €13,981 | €11,053 | -€2,927 | -20.9% |
| Trade receivables | 40 | €11,284 | €11,053 | -€231 | -2.0% |
| Other amounts receivable | 41 | €2,697 | - | -€2,697 | |
| Cash at bank and in hand | 54/58 | €12,691 | €66,015 | +€53,324 | +420% |
| Deferred charges and accrued income | 490/1 | €276 | €276 | = | 0.0% |
| Total equity and liabilities | 10/49 | €83,769 | €123,704 | +€39,936 | +47.7% |
| Equity | 10/15 | -€29,338 | €4,700 | +€34,038 | |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,338 | €700 | +€34,038 | |
| Amounts payable | 17/49 | €113,107 | €119,004 | +€5,897 | +5.2% |
| Amounts payable within one year | 42/48 | €113,107 | €119,004 | +€5,897 | +5.2% |
| Trade debts | 44 | €28,692 | €24,273 | -€4,418 | -15.4% |
| Suppliers | 440/4 | €28,692 | €24,273 | -€4,418 | -15.4% |
| Taxes, remuneration and social security | 45 | €22,320 | €38,327 | +€16,007 | +71.7% |
| Taxes | 450/3 | €6,058 | €8,486 | +€2,428 | +40.1% |
| Remuneration and social security | 454/9 | €16,262 | €29,841 | +€13,580 | +83.5% |
| Other amounts payable | 47/48 | €62,095 | €56,403 | -€5,692 | -9.2% |
| Remuneration, social security and pensions | 62 | €89,641 | €95,083 | +€5,442 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,493 | €6,207 | +€715 | +13.0% |
| Other operating charges | 640/8 | €1,500 | €799 | -€701 | -46.7% |
| Gross operating margin | 9900 | €85,810 | €136,390 | +€50,580 | +58.9% |
| Operating profit (loss) | 9901 | -€10,824 | €34,301 | +€45,124 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €1,806 | €262 | -€1,544 | -85.5% |
| Recurring financial charges | 65 | €1,806 | €262 | -€1,544 | -85.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,630 | €34,038 | +€46,668 | |
| Profit (loss) for the period | 9904 | -€12,630 | €34,038 | +€46,668 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,630 | €34,038 | +€46,668 |
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 26 October 2026 via checked.be.