ANGLO - BELGE SPECIAL RISKS: 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.
ANGLO - BELGE SPECIAL RISKS
Largest movements
- Cash +€272,995
up €272,995 (+39.0%), from €699,590 to €972,586
mainly Net result for the year (+€592,996) and Other debts (+€123,554)
- Receivables within one year -€58,819
down €58,819 (-6.5%), from €898,013 to €839,194
of which Trade receivables: -€52,489
- Intangible fixed assets +€25,792
up €25,792 (+139%), from €18,586 to €44,378
- Tangible fixed assets -€20,756
down €20,756 (-35.4%), from €58,701 to €37,945
of which Furniture and vehicles: -€16,025
- Other debts +€123,554
up €123,554 (+25.6%), from €482,713 to €606,266
- Trade debts +€123,331
up €123,331 (+11.5%), from €1.1m to €1.2m
- Tax, wage and social debts -€22,534
down €22,534 (-24.4%), from €92,495 to €69,961
of which Remuneration and social security: -€22,534
- Financial income +€612,657
up €612,657 (+1,194%), from €51,291 to €663,948
- Gross operating margin -€102,016
down €102,016 (-17.1%), from €597,959 to €495,943
- Financial charges +€94,675
up €94,675 (+206%), from €45,875 to €140,551
- Staff costs -€41,294
down €41,294 (-10.3%), from €402,183 to €360,889
- Taxes -€16,815
down €16,815 (-32.6%), from €51,603 to €34,788
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 | €1,802,418 | €2,010,373 | +€207,955 | +11.5% |
| Fixed assets | 21/28 | €169,306 | €174,342 | +€5,036 | +3.0% |
| Intangible fixed assets | 21 | €18,586 | €44,378 | +€25,792 | +139% |
| Tangible fixed assets | 22/27 | €58,701 | €37,945 | -€20,756 | -35.4% |
| Land and buildings | 22 | €5,520 | €845 | -€4,674 | -84.7% |
| Plant, machinery and equipment | 23 | €11,264 | €11,264 | = | 0.0% |
| Furniture and vehicles | 24 | €41,860 | €25,835 | -€16,025 | -38.3% |
| Other tangible fixed assets | 26 | €57 | €0 | -€57 | -100% |
| Financial fixed assets | 28 | €92,019 | €92,019 | = | 0.0% |
| Current assets | 29/58 | €1,633,113 | €1,836,031 | +€202,918 | +12.4% |
| Amounts receivable within one year | 40/41 | €898,013 | €839,194 | -€58,819 | -6.5% |
| Trade receivables | 40 | €591,065 | €538,577 | -€52,489 | -8.9% |
| Other amounts receivable | 41 | €306,948 | €300,618 | -€6,330 | -2.1% |
| Cash at bank and in hand | 54/58 | €699,590 | €972,586 | +€272,995 | +39.0% |
| Deferred charges and accrued income | 490/1 | €35,509 | €24,251 | -€11,258 | -31.7% |
| Total equity and liabilities | 10/49 | €1,802,418 | €2,010,373 | +€207,955 | +11.5% |
| Equity | 10/15 | €82,656 | €80,652 | -€2,004 | -2.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €17,787 | €17,787 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €11,637 | €11,637 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,369 | €1,365 | -€2,004 | -59.5% |
| Amounts payable | 17/49 | €1,719,762 | €1,929,721 | +€209,959 | +12.2% |
| Amounts payable after more than one year | 17 | €1,407 | €0 | -€1,407 | -100% |
| Financial debts | 170/4 | €1,407 | €0 | -€1,407 | -100% |
| Amounts payable within one year | 42/48 | €1,653,126 | €1,873,307 | +€220,181 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €5,577 | €1,407 | -€4,170 | -74.8% |
| Trade debts | 44 | €1,072,341 | €1,195,673 | +€123,331 | +11.5% |
| Suppliers | 440/4 | €1,072,341 | €1,195,673 | +€123,331 | +11.5% |
| Taxes, remuneration and social security | 45 | €92,495 | €69,961 | -€22,534 | -24.4% |
| Taxes | 450/3 | €30,700 | €30,700 | = | 0.0% |
| Remuneration and social security | 454/9 | €61,796 | €39,262 | -€22,534 | -36.5% |
| Other amounts payable | 47/48 | €482,713 | €606,266 | +€123,554 | +25.6% |
| Accrued charges and deferred income | 492/3 | €65,229 | €56,413 | -€8,815 | -13.5% |
| Non-recurring operating income | 76A | - | €6,000 | +€6,000 | |
| Remuneration, social security and pensions | 62 | €402,183 | €360,889 | -€41,294 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,252 | €29,789 | +€10,536 | +54.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,037 | €0 | +€7,037 | |
| Other operating charges | 640/8 | €9,157 | €880 | -€8,277 | -90.4% |
| Non-recurring operating charges | 66A | €584 | €0 | -€584 | -100% |
| Gross operating margin | 9900 | €597,959 | €495,943 | -€102,016 | -17.1% |
| Operating profit (loss) | 9901 | €173,821 | €104,386 | -€69,435 | -39.9% |
| Financial income | 75/76B | €51,291 | €663,948 | +€612,657 | +1,194% |
| Recurring financial income | 75 | €51,291 | €663,948 | +€612,657 | +1,194% |
| Financial charges | 65/66B | €45,875 | €140,551 | +€94,675 | +206% |
| Recurring financial charges | 65 | €45,875 | €140,551 | +€94,675 | +206% |
| Profit (loss) for the period before taxes | 9903 | €179,236 | €627,783 | +€448,547 | +250% |
| Income taxes | 67/77 | €51,603 | €34,788 | -€16,815 | -32.6% |
| Profit (loss) for the period | 9904 | €127,633 | €592,996 | +€465,363 | +365% |
| Profit (loss) for the period to be appropriated | 9905 | €127,633 | €592,996 | +€465,363 | +365% |
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 20 October 2026 via checked.be.