ANGELWISE: 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.
ANGELWISE
Largest movements
- Financial fixed assets +€2.6m
up €2.6m (+61.7%), from €4.2m to €6.8m
of which Other financial fixed assets: +€1.4m
- Current investments -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
- Cash +€501,368
up €501,368 (+119.3%), from €420,358 to €921,726
mainly Contributions, distributions and other (+€3.0m) and Current investments (+€1.3m)
- Contributions +€3.0m
up €3.0m (+37.5%), from €8.0m to €11.0m
of which Capital: +€3.0m
- Profit (loss) carried forward -€1.2m
down €1.2m (-55.9%), from -€2.1m to -€3.2m
- Financial charges +€202,839
up €202,839 (+40.3%), from €503,001 to €705,840
of which Non-recurring financial charges: +€202,889
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 | €5,941,747 | €7,775,513 | +€1.8m | +30.9% |
| Formation expenses | 20 | €46,686 | €23,541 | -€23,145 | -49.6% |
| Fixed assets | 21/28 | €4,207,178 | €6,803,584 | +€2.6m | +61.7% |
| Financial fixed assets | 28 | €4,207,178 | €6,803,584 | +€2.6m | +61.7% |
| Companies linked by participating interests | 282/3 | €817,456 | €2,049,979 | +€1.2m | +150.8% |
| Participating interests | 282 | €817,456 | €2,049,979 | +€1.2m | +150.8% |
| Other financial fixed assets | 284/8 | €3,389,722 | €4,753,605 | +€1.4m | +40.2% |
| Shares | 284 | €3,237,453 | €4,478,618 | +€1.2m | +38.3% |
| Amounts receivable and cash guarantees | 285/8 | €152,268 | €274,987 | +€122,718 | +80.6% |
| Current assets | 29/58 | €1,687,884 | €948,388 | -€739,496 | -43.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €6,476 | €7,634 | +€1,158 | +17.9% |
| Other amounts receivable | 41 | €6,476 | €7,634 | +€1,158 | +17.9% |
| Current investments | 50/53 | €1,250,000 | €0 | -€1.3m | -100.0% |
| Other investments | 51/53 | €1,250,000 | €0 | -€1.3m | -100.0% |
| Cash at bank and in hand | 54/58 | €420,358 | €921,726 | +€501,368 | +119.3% |
| Deferred charges and accrued income | 490/1 | €11,050 | €19,027 | +€7,977 | +72.2% |
| Total equity and liabilities | 10/49 | €5,941,747 | €7,775,513 | +€1.8m | +30.9% |
| Equity | 10/15 | €5,927,033 | €7,768,255 | +€1.8m | +31.1% |
| Contributions | 10/11 | €8,000,000 | €11,000,999 | +€3.0m | +37.5% |
| Capital | 10 | €8,000,000 | €11,000,000 | +€3.0m | +37.5% |
| Issued capital | 100 | €20,000,000 | €20,000,000 | = | 0.0% |
| Uncalled capital | 101 | €12,000,000 | €9,000,000 | -€3.0m | -25.0% |
| Outside capital | 11 | - | €999 | +€999 | |
| Share premium | 1100/10 | - | €999 | +€999 | |
| Reserves | 13 | €999 | €0 | -€999 | -100.0% |
| Non-distributable reserves | 130/1 | €999 | €0 | -€999 | -100.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €999 | €0 | -€999 | -100.0% |
| Profit (loss) carried forward | 14 | -€2,073,966 | -€3,232,744 | -€1.2m | -55.9% |
| Amounts payable | 17/49 | €14,714 | €7,258 | -€7,457 | -50.7% |
| Amounts payable within one year | 42/48 | €14,714 | €7,258 | -€7,457 | -50.7% |
| Trade debts | 44 | €14,714 | €7,258 | -€7,457 | -50.7% |
| Suppliers | 440/4 | €14,714 | €7,258 | -€7,457 | -50.7% |
| Operating charges | 60/66A | €459,243 | €472,662 | +€13,420 | +2.9% |
| Services and other goods | 61 | €435,068 | €448,457 | +€13,389 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,145 | €23,145 | = | 0.0% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Operating profit (loss) | 9901 | -€459,243 | -€472,662 | -€13,420 | -2.9% |
| Financial income | 75/76B | €24,870 | €19,724 | -€5,145 | -20.7% |
| Recurring financial income | 75 | €24,870 | €19,724 | -€5,145 | -20.7% |
| Income from financial fixed assets | 750 | €2,268 | €16,878 | +€14,609 | +644.0% |
| Income from current assets | 751 | €22,601 | €2,847 | -€19,755 | -87.4% |
| Financial charges | 65/66B | €503,001 | €705,840 | +€202,839 | +40.3% |
| Recurring financial charges | 65 | €511 | €462 | -€49 | -9.7% |
| Other financial charges | 652/9 | €511 | €462 | -€49 | -9.7% |
| Non-recurring financial charges | 66B | €502,489 | €705,378 | +€202,889 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | -€937,374 | -€1,158,778 | -€221,404 | -23.6% |
| Profit (loss) for the period | 9904 | -€937,374 | -€1,158,778 | -€221,404 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€937,374 | -€1,158,778 | -€221,404 | -23.6% |
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 8 October 2026 via checked.be.