ANGELHEAD: what changed
Two fiscal 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.
ANGELHEAD
Largest movements
- Cash +€43,559
up €43,559 (+58.8%), from €74,067 to €117,625
mainly Net result for the year (+€37,327) and Other debts (+€34,307)
- Receivables within one year -€23,995
down €23,995 (-76.2%), from €31,481 to €7,486
of which Other amounts receivable: -€13,819
- Tangible fixed assets +€1,571
up €1,571 (+2202.3%), from €71 to €1,643
- Reserves -€39,018
down €39,018 (-95.1%), from €41,018 to €2,000
- Profit (loss) carried forward +€37,327
up €37,327, from -€6,202 to €31,125
- Other debts +€34,307
up €34,307 (+96.2%), from €35,676 to €69,983
- Trade debts -€12,858
down €12,858 (-52.9%), from €24,305 to €11,447
- Tax, wage and social debts +€2,250
up €2,250, from €0 to €2,250
- Gross operating margin +€54,564
up €54,564, from -€5,289 to €49,275
- Taxes +€11,853
up €11,853, from €0 to €11,853
- Other operating charges -€625
down €625 (-81.3%), from €769 to €144
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 | €107,196 | €129,205 | +€22,009 | +20.5% |
| Fixed assets | 21/28 | €71 | €1,643 | +€1,571 | +2202.3% |
| Tangible fixed assets | 22/27 | €71 | €1,643 | +€1,571 | +2202.3% |
| Plant, machinery and equipment | 23 | €71 | €1,643 | +€1,571 | +2202.3% |
| Current assets | 29/58 | €107,125 | €127,562 | +€20,437 | +19.1% |
| Stocks and contracts in progress | 3 | €1,151 | €1,898 | +€747 | +64.9% |
| Stocks | 30/36 | €1,151 | €1,898 | +€747 | +64.9% |
| Amounts receivable within one year | 40/41 | €31,481 | €7,486 | -€23,995 | -76.2% |
| Trade receivables | 40 | €10,600 | €424 | -€10,176 | -96.0% |
| Other amounts receivable | 41 | €20,881 | €7,062 | -€13,819 | -66.2% |
| Cash at bank and in hand | 54/58 | €74,067 | €117,625 | +€43,559 | +58.8% |
| Deferred charges and accrued income | 490/1 | €426 | €553 | +€127 | +29.9% |
| Total equity and liabilities | 10/49 | €107,196 | €129,205 | +€22,009 | +20.5% |
| Equity | 10/15 | €47,216 | €45,525 | -€1,690 | -3.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €41,018 | €2,000 | -€39,018 | -95.1% |
| Distributable reserves | 133 | €41,018 | €2,000 | -€39,018 | -95.1% |
| Profit (loss) carried forward | 14 | -€6,202 | €31,125 | +€37,327 | |
| Amounts payable | 17/49 | €59,981 | €83,680 | +€23,699 | +39.5% |
| Amounts payable within one year | 42/48 | €59,981 | €83,680 | +€23,699 | +39.5% |
| Trade debts | 44 | €24,305 | €11,447 | -€12,858 | -52.9% |
| Suppliers | 440/4 | €24,305 | €11,447 | -€12,858 | -52.9% |
| Taxes, remuneration and social security | 45 | €0 | €2,250 | +€2,250 | |
| Taxes | 450/3 | €0 | €2,250 | +€2,250 | |
| Other amounts payable | 47/48 | €35,676 | €69,983 | +€34,307 | +96.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218 | €149 | -€69 | -31.7% |
| Other operating charges | 640/8 | €769 | €144 | -€625 | -81.3% |
| Gross operating margin | 9900 | -€5,289 | €49,275 | +€54,564 | |
| Operating profit (loss) | 9901 | -€6,276 | €48,982 | +€55,258 | |
| Financial income | 75/76B | €271 | €325 | +€54 | +20.1% |
| Recurring financial income | 75 | €271 | €325 | +€54 | +20.1% |
| Financial charges | 65/66B | €197 | €127 | -€70 | -35.6% |
| Recurring financial charges | 65 | €197 | €127 | -€70 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,202 | €49,180 | +€55,383 | |
| Income taxes | 67/77 | €0 | €11,853 | +€11,853 | |
| Profit (loss) for the period | 9904 | -€6,202 | €37,327 | +€43,530 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,202 | €37,327 | +€43,530 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.