ANGELOS: 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.
ANGELOS
Largest movements
- Cash +€82,691
up €82,691 (+77.8%), from €106,239 to €188,930
mainly Advances received (+€450,000) and Net result for the year (+€336,013)
- Receivables after one year -€54,750
down €54,750 (-11.3%), from €484,000 to €429,250
- Stocks and contracts -€52,293
down €52,293 (-2.6%), from €2.0m to €2.0m
- Tangible fixed assets -€42,677
down €42,677 (-5.5%), from €777,355 to €734,678
of which Land and buildings: -€34,813
- Advances received +€450,000
up €450,000 (+225.0%), from €200,000 to €650,000
- Short-term financial debts -€442,329
down €442,329 (-72.1%), from €613,093 to €170,764
- Other debts +€205,630
up €205,630 (+86.3%), from €238,361 to €443,992
- Reserves -€107,979
down €107,979 (-6.8%), from €1.6m to €1.5m
of which Distributable reserves: -€71,109
- Trade debts -€82,653
down €82,653 (-57.0%), from €144,931 to €62,277
- Gross operating margin +€75,313
up €75,313 (+10.7%), from €705,880 to €781,192
- Other operating charges +€52,197
up €52,197 (+443.4%), from €11,772 to €63,969
- Staff costs +€43,078
up €43,078 (+26.1%), from €164,863 to €207,941
- Write-downs -€30,546
new in 2025: -€30,546
- Taxes +€14,784
up €14,784 (+10.8%), from €136,456 to €151,240
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 | €3,958,895 | €3,917,854 | -€41,041 | -1.0% |
| Fixed assets | 21/28 | €777,355 | €734,678 | -€42,677 | -5.5% |
| Tangible fixed assets | 22/27 | €777,355 | €734,678 | -€42,677 | -5.5% |
| Land and buildings | 22 | €739,265 | €704,452 | -€34,813 | -4.7% |
| Plant, machinery and equipment | 23 | €5,099 | €2,130 | -€2,968 | -58.2% |
| Furniture and vehicles | 24 | €86 | €3,134 | +€3,048 | +3564.2% |
| Other tangible fixed assets | 26 | €32,905 | €24,961 | -€7,944 | -24.1% |
| Current assets | 29/58 | €3,181,541 | €3,183,176 | +€1,636 | +0.1% |
| Amounts receivable after more than one year | 29 | €484,000 | €429,250 | -€54,750 | -11.3% |
| Other amounts receivable | 291 | €484,000 | €429,250 | -€54,750 | -11.3% |
| Stocks and contracts in progress | 3 | €2,024,171 | €1,971,877 | -€52,293 | -2.6% |
| Stocks | 30/36 | €2,024,171 | €1,971,877 | -€52,293 | -2.6% |
| Amounts receivable within one year | 40/41 | €538,204 | €565,603 | +€27,399 | +5.1% |
| Trade receivables | 40 | €52,828 | €292,502 | +€239,674 | +453.7% |
| Other amounts receivable | 41 | €485,376 | €273,101 | -€212,275 | -43.7% |
| Cash at bank and in hand | 54/58 | €106,239 | €188,930 | +€82,691 | +77.8% |
| Deferred charges and accrued income | 490/1 | €28,927 | €27,516 | -€1,411 | -4.9% |
| Total equity and liabilities | 10/49 | €3,958,895 | €3,917,854 | -€41,041 | -1.0% |
| Equity | 10/15 | €2,616,378 | €2,508,399 | -€107,979 | -4.1% |
| Contributions | 10/11 | €368,700 | €368,700 | = | 0.0% |
| Reserves | 13 | €1,580,308 | €1,472,329 | -€107,979 | -6.8% |
| Non-distributable reserves | 130/1 | €36,870 | €0 | -€36,870 | -100.0% |
| Reserves not available under the articles | 1311 | €36,870 | €0 | -€36,870 | -100.0% |
| Distributable reserves | 133 | €1,543,438 | €1,472,329 | -€71,109 | -4.6% |
| Profit (loss) carried forward | 14 | €667,370 | €667,370 | = | 0.0% |
| Amounts payable | 17/49 | €1,342,517 | €1,409,455 | +€66,937 | +5.0% |
| Amounts payable after more than one year | 17 | €54,166 | €0 | -€54,166 | -100.0% |
| Financial debts | 170/4 | €54,166 | €0 | -€54,166 | -100.0% |
| Amounts payable within one year | 42/48 | €1,283,799 | €1,409,455 | +€125,656 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €66,667 | €54,166 | -€12,500 | -18.8% |
| Financial debts | 43 | €613,093 | €170,764 | -€442,329 | -72.1% |
| Credit institutions | 430/8 | €613,093 | €170,764 | -€442,329 | -72.1% |
| Trade debts | 44 | €144,931 | €62,277 | -€82,653 | -57.0% |
| Suppliers | 440/4 | €144,931 | €62,277 | -€82,653 | -57.0% |
| Advances received on contracts in progress | 46 | €200,000 | €650,000 | +€450,000 | +225.0% |
| Taxes, remuneration and social security | 45 | €20,748 | €28,256 | +€7,508 | +36.2% |
| Taxes | 450/3 | €1,955 | €0 | -€1,955 | -100.0% |
| Remuneration and social security | 454/9 | €18,792 | €28,256 | +€9,464 | +50.4% |
| Other amounts payable | 47/48 | €238,361 | €443,992 | +€205,630 | +86.3% |
| Accrued charges and deferred income | 492/3 | €4,552 | €0 | -€4,552 | -100.0% |
| Remuneration, social security and pensions | 62 | €164,863 | €207,941 | +€43,078 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,232 | €47,785 | -€1,448 | -2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€30,546 | -€30,546 | |
| Other operating charges | 640/8 | €11,772 | €63,969 | +€52,197 | +443.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €705,880 | €781,192 | +€75,313 | +10.7% |
| Operating profit (loss) | 9901 | €480,012 | €492,043 | +€12,031 | +2.5% |
| Financial income | 75/76B | €30,763 | €32,357 | +€1,593 | +5.2% |
| Recurring financial income | 75 | €30,763 | €32,357 | +€1,593 | +5.2% |
| Financial charges | 65/66B | €35,458 | €37,147 | +€1,689 | +4.8% |
| Recurring financial charges | 65 | €35,458 | €37,147 | +€1,689 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €475,317 | €487,253 | +€11,936 | +2.5% |
| Income taxes | 67/77 | €136,456 | €151,240 | +€14,784 | +10.8% |
| Profit (loss) for the period | 9904 | €338,861 | €336,013 | -€2,848 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €338,861 | €336,013 | -€2,848 | -0.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.