ANGIVAL: 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.
ANGIVAL
Largest movements
- Receivables within one year -€63,774
down €63,774 (-71.4%), from €89,334 to €25,560
of which Trade receivables: -€56,288
- Cash +€19,142
up €19,142 (+167%), from €11,470 to €30,612
mainly Receivables within one year (+€63,774) and Depreciation (+€6,807)
- Stocks and contracts +€7,000
up €7,000 (+178%), from €3,934 to €10,934
- Tangible fixed assets -€5,184
down €5,184 (-70.7%), from €7,334 to €2,149
of which Leasing and similar rights: -€6,770
- Deferred charges and accrued income -€2,023
no longer reported in 2025 (was €2,023)
- Advances received -€34,358
down €34,358 (-62.3%), from €55,164 to €20,807
- Debts after one year -€5,212
no longer reported in 2025 (was €5,212)
- Trade debts -€4,884
no longer reported in 2025 (was €4,884)
- Reserves +€3,973
up €3,973 (+11.6%), from €34,381 to €38,354
- Tax, wage and social debts -€3,781
down €3,781 (-99.6%), from €3,796 to €15
- Gross operating margin -€6,912
down €6,912 (-33.2%), from €20,835 to €13,923
- Write-downs -€2,486
no longer reported in 2025 (was €2,486)
- Other operating charges -€779
down €779 (-51.0%), from €1,527 to €748
- Taxes -€704
down €704 (-24.9%), from €2,828 to €2,124
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 | €117,373 | €72,545 | -€44,828 | -38.2% |
| Fixed assets | 21/28 | €10,612 | €5,439 | -€5,173 | -48.7% |
| Tangible fixed assets | 22/27 | €7,334 | €2,149 | -€5,184 | -70.7% |
| Furniture and vehicles | 24 | - | €1,585 | +€1,585 | |
| Leasing and similar rights | 25 | €7,334 | €564 | -€6,770 | -92.3% |
| Financial fixed assets | 28 | €3,279 | €3,290 | +€11 | +0.3% |
| Current assets | 29/58 | €106,760 | €67,106 | -€39,655 | -37.1% |
| Stocks and contracts in progress | 3 | €3,934 | €10,934 | +€7,000 | +178% |
| Stocks | 30/36 | €3,934 | €10,934 | +€7,000 | +178% |
| Amounts receivable within one year | 40/41 | €89,334 | €25,560 | -€63,774 | -71.4% |
| Trade receivables | 40 | €80,175 | €23,887 | -€56,288 | -70.2% |
| Other amounts receivable | 41 | €9,159 | €1,673 | -€7,486 | -81.7% |
| Cash at bank and in hand | 54/58 | €11,470 | €30,612 | +€19,142 | +167% |
| Deferred charges and accrued income | 490/1 | €2,023 | - | -€2,023 | |
| Total equity and liabilities | 10/49 | €117,373 | €72,545 | -€44,828 | -38.2% |
| Equity | 10/15 | €40,681 | €44,654 | +€3,973 | +9.8% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €34,381 | €38,354 | +€3,973 | +11.6% |
| Distributable reserves | 133 | €34,381 | €38,354 | +€3,973 | +11.6% |
| Amounts payable | 17/49 | €76,692 | €27,891 | -€48,801 | -63.6% |
| Amounts payable after more than one year | 17 | €5,212 | - | -€5,212 | |
| Financial debts | 170/4 | €5,212 | - | -€5,212 | |
| Amounts payable within one year | 42/48 | €71,481 | €27,891 | -€43,590 | -61.0% |
| Current portion of amounts payable after more than one year | 42 | €3,976 | €5,077 | +€1,101 | +27.7% |
| Trade debts | 44 | €4,884 | - | -€4,884 | |
| Suppliers | 440/4 | €4,884 | - | -€4,884 | |
| Advances received on contracts in progress | 46 | €55,164 | €20,807 | -€34,358 | -62.3% |
| Taxes, remuneration and social security | 45 | €3,796 | €15 | -€3,781 | -99.6% |
| Taxes | 450/3 | €3,796 | €15 | -€3,781 | -99.6% |
| Other amounts payable | 47/48 | €3,660 | €1,992 | -€1,668 | -45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,770 | €6,807 | +€37 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,486 | - | -€2,486 | |
| Other operating charges | 640/8 | €1,527 | €748 | -€779 | -51.0% |
| Gross operating margin | 9900 | €20,835 | €13,923 | -€6,912 | -33.2% |
| Operating profit (loss) | 9901 | €10,052 | €6,368 | -€3,684 | -36.6% |
| Financial income | 75/76B | €0 | €185 | +€185 | +925,800% |
| Recurring financial income | 75 | €0 | €185 | +€185 | +925,800% |
| Financial charges | 65/66B | €627 | €455 | -€171 | -27.3% |
| Recurring financial charges | 65 | €627 | €455 | -€171 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €9,425 | €6,098 | -€3,327 | -35.3% |
| Income taxes | 67/77 | €2,828 | €2,124 | -€704 | -24.9% |
| Profit (loss) for the period | 9904 | €6,597 | €3,973 | -€2,623 | -39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,597 | €3,973 | -€2,623 | -39.8% |
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 21 October 2026 via checked.be.