ANGELO INVEST: 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.
ANGELO INVEST
Largest movements
- Cash -€8,013
down €8,013 (-77.6%), from €10,329 to €2,316
mainly Debts after one year (-€25,239) and Current portion of long-term debt (-€13,278)
- Other debts +€30,078
up €30,078 (+64.6%), from €46,566 to €76,644
- Debts after one year -€25,239
down €25,239 (-19.5%), from €129,648 to €104,409
- Current portion of long-term debt -€13,278
down €13,278 (-34.5%), from €38,517 to €25,239
- Gross operating margin +€4,846
up €4,846 (+45.6%), from €10,633 to €15,478
- Depreciation -€3,771
down €3,771 (-33.0%), from €11,418 to €7,646
- Taxes +€1,162
up €1,162 (+341%), from €341 to €1,503
- Financial charges -€568
down €568 (-17.1%), from €3,323 to €2,755
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 | €452,448 | €445,459 | -€6,989 | -1.5% |
| Fixed assets | 21/28 | €433,321 | €436,117 | +€2,797 | +0.6% |
| Tangible fixed assets | 22/27 | €320,821 | €323,617 | +€2,797 | +0.9% |
| Land and buildings | 22 | €316,098 | €323,117 | +€7,019 | +2.2% |
| Furniture and vehicles | 24 | €4,722 | €500 | -€4,222 | -89.4% |
| Financial fixed assets | 28 | €112,500 | €112,500 | = | 0.0% |
| Current assets | 29/58 | €19,127 | €9,342 | -€9,785 | -51.2% |
| Amounts receivable within one year | 40/41 | €6,208 | €4,380 | -€1,828 | -29.5% |
| Trade receivables | 40 | €1,700 | €0 | -€1,700 | -100% |
| Other amounts receivable | 41 | €4,508 | €4,380 | -€128 | -2.8% |
| Cash at bank and in hand | 54/58 | €10,329 | €2,316 | -€8,013 | -77.6% |
| Deferred charges and accrued income | 490/1 | €2,590 | €2,646 | +€56 | +2.2% |
| Total equity and liabilities | 10/49 | €452,448 | €445,459 | -€6,989 | -1.5% |
| Equity | 10/15 | €235,803 | €237,376 | +€1,573 | +0.7% |
| Contributions | 10/11 | €103,770 | €103,770 | = | 0.0% |
| Reserves | 13 | €132,033 | €133,606 | +€1,573 | +1.2% |
| Distributable reserves | 133 | €132,033 | €133,606 | +€1,573 | +1.2% |
| Amounts payable | 17/49 | €216,645 | €208,083 | -€8,562 | -4.0% |
| Amounts payable after more than one year | 17 | €129,648 | €104,409 | -€25,239 | -19.5% |
| Financial debts | 170/4 | €129,648 | €104,409 | -€25,239 | -19.5% |
| Amounts payable within one year | 42/48 | €86,997 | €103,674 | +€16,677 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €38,517 | €25,239 | -€13,278 | -34.5% |
| Trade debts | 44 | €1,914 | €1,791 | -€123 | -6.4% |
| Suppliers | 440/4 | €1,914 | €1,791 | -€123 | -6.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €46,566 | €76,644 | +€30,078 | +64.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,418 | €7,646 | -€3,771 | -33.0% |
| Other operating charges | 640/8 | €1,982 | €2,011 | +€28 | +1.4% |
| Gross operating margin | 9900 | €10,633 | €15,478 | +€4,846 | +45.6% |
| Operating profit (loss) | 9901 | -€2,767 | €5,822 | +€8,589 | |
| Financial income | 75/76B | €51 | €9 | -€42 | -81.9% |
| Recurring financial income | 75 | €51 | €9 | -€42 | -81.9% |
| Financial charges | 65/66B | €3,323 | €2,755 | -€568 | -17.1% |
| Recurring financial charges | 65 | €3,323 | €2,755 | -€568 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,039 | €3,076 | +€9,115 | |
| Income taxes | 67/77 | €341 | €1,503 | +€1,162 | +341% |
| Profit (loss) for the period | 9904 | -€6,380 | €1,573 | +€7,953 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,380 | €1,573 | +€7,953 |
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 29 October 2026 via checked.be.