ANGIOLILLO David: 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.
ANGIOLILLO David
Largest movements
- Receivables after one year -€27,026
down €27,026 (-52.2%), from €51,730 to €24,704
- Cash +€16,626
up €16,626 (+4.0%), from €412,245 to €428,871
mainly Other debts (+€122,526) and Net result for the year (+€40,377)
- Tangible fixed assets +€7,790
up €7,790 (+23.4%), from €33,356 to €41,146
of which Other tangible fixed assets: +€9,677
- Reserves -€140,000
down €140,000 (-53.3%), from €262,460 to €122,460
of which Distributable reserves: -€140,000
- Other debts +€122,526
up €122,526 (+160%), from €76,424 to €198,950
- Tax, wage and social debts +€12,476
up €12,476 (+164%), from €7,622 to €20,098
of which Taxes: +€9,908
- Gross operating margin +€22,378
up €22,378 (+21.1%), from €106,029 to €128,407
- Taxes +€7,672
up €7,672 (+91.9%), from €8,347 to €16,019
- Financial charges -€6,118
down €6,118 (-8.4%), from €72,516 to €66,398
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 | €526,339 | €522,099 | -€4,239 | -0.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €33,356 | €41,146 | +€7,790 | +23.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €33,356 | €41,146 | +€7,790 | +23.4% |
| Plant, machinery and equipment | 23 | €723 | €271 | -€452 | -62.5% |
| Furniture and vehicles | 24 | €7,056 | €5,620 | -€1,436 | -20.3% |
| Other tangible fixed assets | 26 | €25,578 | €35,255 | +€9,677 | +37.8% |
| Current assets | 29/58 | €492,982 | €480,953 | -€12,029 | -2.4% |
| Amounts receivable after more than one year | 29 | €51,730 | €24,704 | -€27,026 | -52.2% |
| Other amounts receivable | 291 | €51,730 | €24,704 | -€27,026 | -52.2% |
| Amounts receivable within one year | 40/41 | €24,766 | €21,585 | -€3,181 | -12.8% |
| Trade receivables | 40 | €3,113 | €2,605 | -€508 | -16.3% |
| Other amounts receivable | 41 | €21,653 | €18,981 | -€2,672 | -12.3% |
| Cash at bank and in hand | 54/58 | €412,245 | €428,871 | +€16,626 | +4.0% |
| Deferred charges and accrued income | 490/1 | €4,241 | €5,793 | +€1,551 | +36.6% |
| Total equity and liabilities | 10/49 | €526,339 | €522,099 | -€4,239 | -0.8% |
| Equity | 10/15 | €437,010 | €297,387 | -€139,623 | -31.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €262,460 | €122,460 | -€140,000 | -53.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €260,600 | €120,600 | -€140,000 | -53.7% |
| Profit (loss) carried forward | 14 | €162,150 | €162,527 | +€377 | +0.2% |
| Amounts payable | 17/49 | €89,329 | €224,712 | +€135,383 | +152% |
| Amounts payable within one year | 42/48 | €89,329 | €224,712 | +€135,383 | +152% |
| Trade debts | 44 | €5,283 | €5,664 | +€381 | +7.2% |
| Suppliers | 440/4 | €5,283 | €5,664 | +€381 | +7.2% |
| Taxes, remuneration and social security | 45 | €7,622 | €20,098 | +€12,476 | +164% |
| Taxes | 450/3 | €7,622 | €17,530 | +€9,908 | +130% |
| Remuneration and social security | 454/9 | - | €2,568 | +€2,568 | |
| Other amounts payable | 47/48 | €76,424 | €198,950 | +€122,526 | +160% |
| Remuneration, social security and pensions | 62 | €87 | €89 | +€2 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,961 | €6,650 | +€689 | +11.6% |
| Other operating charges | 640/8 | €87 | €348 | +€262 | +302% |
| Gross operating margin | 9900 | €106,029 | €128,407 | +€22,378 | +21.1% |
| Operating profit (loss) | 9901 | €99,895 | €121,320 | +€21,426 | +21.4% |
| Financial income | 75/76B | €1,433 | €1,474 | +€41 | +2.9% |
| Recurring financial income | 75 | €1,433 | €1,474 | +€41 | +2.9% |
| Financial charges | 65/66B | €72,516 | €66,398 | -€6,118 | -8.4% |
| Recurring financial charges | 65 | €72,516 | €66,398 | -€6,118 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €28,813 | €56,397 | +€27,584 | +95.7% |
| Income taxes | 67/77 | €8,347 | €16,019 | +€7,672 | +91.9% |
| Profit (loss) for the period | 9904 | €20,465 | €40,377 | +€19,912 | +97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,465 | €40,377 | +€19,912 | +97.3% |
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 18 October 2026 via checked.be.