ANGEL RECUP: 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 RECUP
Largest movements
- Stocks and contracts +€2,460
up €2,460 (+311%), from €792 to €3,252
- Tangible fixed assets -€1,400
down €1,400 (-82.2%), from €1,703 to €303
- Receivables within one year +€201
up €201 (+51.3%), from €392 to €592
- Other debts +€4,048
up €4,048 (+43.0%), from €9,420 to €13,468
- Profit (loss) carried forward -€3,376
down €3,376 (-49.3%), from -€6,854 to -€10,231
- Trade debts +€563
up €563 (+1,585%), from €36 to €599
- Other operating charges +€315
up €315 (+67.2%), from €469 to €785
- Financial charges -€210
down €210 (-82.4%), from €255 to €45
- Gross operating margin +€32
up €32 (+2.7%), from -€1,179 to -€1,147
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 | €2,987 | €4,237 | +€1,250 | +41.9% |
| Fixed assets | 21/28 | €1,703 | €303 | -€1,400 | -82.2% |
| Tangible fixed assets | 22/27 | €1,703 | €303 | -€1,400 | -82.2% |
| Furniture and vehicles | 24 | €1,703 | €303 | -€1,400 | -82.2% |
| Current assets | 29/58 | €1,284 | €3,934 | +€2,650 | +206% |
| Stocks and contracts in progress | 3 | €792 | €3,252 | +€2,460 | +311% |
| Stocks | 30/36 | €792 | €3,252 | +€2,460 | +311% |
| Amounts receivable within one year | 40/41 | €392 | €592 | +€201 | +51.3% |
| Other amounts receivable | 41 | €392 | €592 | +€201 | +51.3% |
| Cash at bank and in hand | 54/58 | €17 | €2 | -€14 | -86.8% |
| Deferred charges and accrued income | 490/1 | €84 | €88 | +€4 | +4.7% |
| Total equity and liabilities | 10/49 | €2,987 | €4,237 | +€1,250 | +41.9% |
| Equity | 10/15 | -€6,853 | -€10,230 | -€3,376 | -49.3% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,854 | -€10,231 | -€3,376 | -49.3% |
| Amounts payable | 17/49 | €9,840 | €14,467 | +€4,627 | +47.0% |
| Amounts payable within one year | 42/48 | €9,456 | €14,067 | +€4,611 | +48.8% |
| Trade debts | 44 | €36 | €599 | +€563 | +1,585% |
| Suppliers | 440/4 | €36 | €599 | +€563 | +1,585% |
| Other amounts payable | 47/48 | €9,420 | €13,468 | +€4,048 | +43.0% |
| Accrued charges and deferred income | 492/3 | €384 | €400 | +€15 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,400 | €1,400 | = | 0.0% |
| Other operating charges | 640/8 | €469 | €785 | +€315 | +67.2% |
| Gross operating margin | 9900 | -€1,179 | -€1,147 | +€32 | +2.7% |
| Operating profit (loss) | 9901 | -€3,048 | -€3,331 | -€283 | -9.3% |
| Financial charges | 65/66B | €255 | €45 | -€210 | -82.4% |
| Recurring financial charges | 65 | €255 | €45 | -€210 | -82.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,303 | -€3,376 | -€73 | -2.2% |
| Profit (loss) for the period | 9904 | -€3,303 | -€3,376 | -€73 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,303 | -€3,376 | -€73 | -2.2% |
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 19 October 2026 via checked.be.