ANGELE: 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.
ANGELE
Largest movements
- Deferred charges and accrued income +€34,336
new in 2025: €34,336
- Receivables within one year +€8,527
up €8,527 (+10.7%), from €79,429 to €87,956
of which Other amounts receivable: +€13,280
- Tangible fixed assets -€7,514
down €7,514 (-33.7%), from €22,275 to €14,761
- Cash -€2,366
down €2,366 (-21.4%), from €11,072 to €8,706
mainly Deferred charges and accrued income (-€34,336) and Short-term financial debts (-€21,300)
- Trade debts +€50,419
up €50,419 (+188%), from €26,859 to €77,278
- Short-term financial debts -€21,300
down €21,300 (-59.2%), from €36,000 to €14,700
- Profit (loss) carried forward +€8,993
up €8,993 (+17.2%), from -€52,138 to -€43,145
- Debts after one year -€6,665
no longer reported in 2025 (was €6,665)
- Gross operating margin +€5,116
up €5,116 (+29.6%), from €17,268 to €22,384
- Depreciation +€1,712
up €1,712 (+29.5%), from €5,801 to €7,514
- Financial charges -€964
down €964 (-13.3%), from €7,271 to €6,308
- Other operating charges +€886
up €886 (+93.9%), from €944 to €1,830
- Staff costs -€719
no longer reported in 2025 (was €719)
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 | €145,985 | €177,794 | +€31,810 | +21.8% |
| Fixed assets | 21/28 | €23,475 | €15,961 | -€7,514 | -32.0% |
| Tangible fixed assets | 22/27 | €22,275 | €14,761 | -€7,514 | -33.7% |
| Furniture and vehicles | 24 | €22,275 | €14,761 | -€7,514 | -33.7% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €122,510 | €161,833 | +€39,323 | +32.1% |
| Stocks and contracts in progress | 3 | €32,009 | €30,835 | -€1,174 | -3.7% |
| Stocks | 30/36 | €32,009 | €30,835 | -€1,174 | -3.7% |
| Amounts receivable within one year | 40/41 | €79,429 | €87,956 | +€8,527 | +10.7% |
| Trade receivables | 40 | €32,972 | €28,219 | -€4,753 | -14.4% |
| Other amounts receivable | 41 | €46,457 | €59,737 | +€13,280 | +28.6% |
| Cash at bank and in hand | 54/58 | €11,072 | €8,706 | -€2,366 | -21.4% |
| Deferred charges and accrued income | 490/1 | - | €34,336 | +€34,336 | |
| Total equity and liabilities | 10/49 | €145,985 | €177,794 | +€31,810 | +21.8% |
| Equity | 10/15 | €53,414 | €62,407 | +€8,993 | +16.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €86,960 | €86,960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €85,101 | €85,101 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,138 | -€43,145 | +€8,993 | +17.2% |
| Provisions and deferred taxes | 16 | €16,667 | €16,667 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €16,667 | €16,667 | = | 0.0% |
| Environmental obligations | 163 | €16,667 | €16,667 | = | 0.0% |
| Amounts payable | 17/49 | €75,904 | €98,720 | +€22,816 | +30.1% |
| Amounts payable after more than one year | 17 | €6,665 | - | -€6,665 | |
| Financial debts | 170/4 | €6,665 | - | -€6,665 | |
| Amounts payable within one year | 42/48 | €69,239 | €98,720 | +€29,481 | +42.6% |
| Current portion of amounts payable after more than one year | 42 | €6,380 | €6,665 | +€284 | +4.5% |
| Financial debts | 43 | €36,000 | €14,700 | -€21,300 | -59.2% |
| Credit institutions | 430/8 | €36,000 | €14,700 | -€21,300 | -59.2% |
| Trade debts | 44 | €26,859 | €77,278 | +€50,419 | +188% |
| Suppliers | 440/4 | €26,859 | €77,278 | +€50,419 | +188% |
| Taxes, remuneration and social security | 45 | - | €78 | +€78 | |
| Taxes | 450/3 | - | €78 | +€78 | |
| Remuneration, social security and pensions | 62 | €719 | - | -€719 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,801 | €7,514 | +€1,712 | +29.5% |
| Other operating charges | 640/8 | €944 | €1,830 | +€886 | +93.9% |
| Non-recurring operating charges | 66A | €88 | - | -€88 | |
| Gross operating margin | 9900 | €17,268 | €22,384 | +€5,116 | +29.6% |
| Operating profit (loss) | 9901 | €9,715 | €13,040 | +€3,324 | +34.2% |
| Financial income | 75/76B | €2,592 | €2,339 | -€253 | -9.7% |
| Recurring financial income | 75 | €2,592 | €2,339 | -€253 | -9.7% |
| Financial charges | 65/66B | €7,271 | €6,308 | -€964 | -13.3% |
| Recurring financial charges | 65 | €7,271 | €6,308 | -€964 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €5,036 | €9,071 | +€4,035 | +80.1% |
| Income taxes | 67/77 | - | €78 | +€78 | |
| Profit (loss) for the period | 9904 | €5,036 | €8,993 | +€3,957 | +78.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,036 | €8,993 | +€3,957 | +78.6% |
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 17 October 2026 via checked.be.