AnGeo: 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.
AnGeo
Largest movements
- Cash +€79,864
up €79,864 (+168.4%), from €47,436 to €127,300
mainly Net result for the year (+€92,612) and Depreciation (+€13,619)
- Tangible fixed assets +€5,193
up €5,193 (+13.3%), from €38,977 to €44,170
of which Plant, machinery and equipment: +€4,360
- Receivables within one year -€3,299
down €3,299 (-2.1%), from €158,323 to €155,024
of which Other amounts receivable: -€5,137
- Reserves +€92,612
up €92,612 (+62.7%), from €147,700 to €240,312
of which Distributable reserves: +€61,037
- Provisions -€11,877
down €11,877 (-23.8%), from €50,004 to €38,127
- Tax, wage and social debts -€7,722
down €7,722 (-16.0%), from €48,152 to €40,430
of which Taxes: -€7,474
- Other debts +€7,500
new in 2025: €7,500
- Provisions -€61,881
down €61,881, from €50,004 to -€11,877
- Financial charges +€58,180
up €58,180 (+3824.8%), from €1,521 to €59,701
- Gross operating margin +€41,542
up €41,542 (+30.8%), from €134,932 to €176,474
- Taxes +€8,907
up €8,907 (+48.7%), from €18,280 to €27,187
- Depreciation +€5,343
up €5,343 (+64.6%), from €8,276 to €13,619
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 | €245,956 | €327,231 | +€81,276 | +33.0% |
| Fixed assets | 21/28 | €39,774 | €44,568 | +€4,794 | +12.1% |
| Intangible fixed assets | 21 | €797 | €398 | -€398 | -50.0% |
| Tangible fixed assets | 22/27 | €38,977 | €44,170 | +€5,193 | +13.3% |
| Plant, machinery and equipment | 23 | €7,528 | €11,888 | +€4,360 | +57.9% |
| Furniture and vehicles | 24 | €1,229 | €3,763 | +€2,535 | +206.3% |
| Other tangible fixed assets | 26 | €29,252 | €28,518 | -€734 | -2.5% |
| Assets under construction and advance payments | 27 | €968 | - | -€968 | |
| Current assets | 29/58 | €206,182 | €282,663 | +€76,481 | +37.1% |
| Amounts receivable within one year | 40/41 | €158,323 | €155,024 | -€3,299 | -2.1% |
| Trade receivables | 40 | €78,779 | €80,617 | +€1,838 | +2.3% |
| Other amounts receivable | 41 | €79,544 | €74,407 | -€5,137 | -6.5% |
| Cash at bank and in hand | 54/58 | €47,436 | €127,300 | +€79,864 | +168.4% |
| Deferred charges and accrued income | 490/1 | €422 | €339 | -€83 | -19.7% |
| Total equity and liabilities | 10/49 | €245,956 | €327,231 | +€81,276 | +33.0% |
| Equity | 10/15 | €147,800 | €240,412 | +€92,612 | +62.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €147,700 | €240,312 | +€92,612 | +62.7% |
| Tax-exempt reserves | 132 | - | €31,575 | +€31,575 | |
| Distributable reserves | 133 | €147,700 | €208,737 | +€61,037 | +41.3% |
| Provisions and deferred taxes | 16 | €50,004 | €38,127 | -€11,877 | -23.8% |
| Provisions for liabilities and charges | 160/5 | €50,004 | €38,127 | -€11,877 | -23.8% |
| Other liabilities and charges | 164/5 | €50,004 | €38,127 | -€11,877 | -23.8% |
| Amounts payable | 17/49 | €48,152 | €48,693 | +€541 | +1.1% |
| Amounts payable within one year | 42/48 | €48,152 | €48,693 | +€541 | +1.1% |
| Trade debts | 44 | - | €763 | +€763 | |
| Suppliers | 440/4 | - | €763 | +€763 | |
| Taxes, remuneration and social security | 45 | €48,152 | €40,430 | -€7,722 | -16.0% |
| Taxes | 450/3 | €47,905 | €40,430 | -€7,474 | -15.6% |
| Remuneration and social security | 454/9 | €248 | - | -€248 | |
| Other amounts payable | 47/48 | - | €7,500 | +€7,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,276 | €13,619 | +€5,343 | +64.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €50,004 | -€11,877 | -€61,881 | |
| Other operating charges | 640/8 | €541 | €1,057 | +€516 | +95.4% |
| Gross operating margin | 9900 | €134,932 | €176,474 | +€41,542 | +30.8% |
| Operating profit (loss) | 9901 | €76,111 | €173,675 | +€97,563 | +128.2% |
| Financial income | 75/76B | €1,940 | €5,825 | +€3,885 | +200.3% |
| Recurring financial income | 75 | €1,940 | €5,825 | +€3,885 | +200.3% |
| Financial charges | 65/66B | €1,521 | €59,701 | +€58,180 | +3824.8% |
| Recurring financial charges | 65 | €1,521 | €59,701 | +€58,180 | +3824.8% |
| Profit (loss) for the period before taxes | 9903 | €76,530 | €119,799 | +€43,269 | +56.5% |
| Income taxes | 67/77 | €18,280 | €27,187 | +€8,907 | +48.7% |
| Profit (loss) for the period | 9904 | €58,250 | €92,612 | +€34,362 | +59.0% |
| Transfer to tax-exempt reserves | 689 | - | €31,575 | +€31,575 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,250 | €61,037 | +€2,787 | +4.8% |
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.