ANGRES: 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.
ANGRES
Largest movements
- Tangible fixed assets -€380,703
down €380,703 (-27.6%), from €1.4m to €997,073
- Debts after one year -€425,805
down €425,805 (-39.7%), from €1.1m to €647,744
of which Financial debts: -€412,056
- Reserves +€66,235
up €66,235 (+106.4%), from €62,259 to €128,494
of which Distributable reserves: +€66,235
- Current portion of long-term debt -€32,569
down €32,569 (-49.9%), from €65,245 to €32,676
- Other debts +€21,176
up €21,176 (+6.7%), from €316,555 to €337,731
- Gross operating margin -€40,298
down €40,298 (-18.5%), from €217,819 to €177,521
- Financial charges -€20,364
down €20,364 (-48.7%), from €41,818 to €21,454
of which Non-recurring financial charges: -€10,447
- Depreciation -€16,299
down €16,299 (-20.1%), from €81,132 to €64,833
- Write-downs -€12,715
no longer reported in 2025 (was €12,715)
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 | €1,415,736 | €1,037,841 | -€377,895 | -26.7% |
| Fixed assets | 21/28 | €1,377,776 | €997,073 | -€380,703 | -27.6% |
| Tangible fixed assets | 22/27 | €1,377,776 | €997,073 | -€380,703 | -27.6% |
| Land and buildings | 22 | €1,377,776 | €997,073 | -€380,703 | -27.6% |
| Current assets | 29/58 | €37,960 | €40,768 | +€2,808 | +7.4% |
| Amounts receivable within one year | 40/41 | €5,520 | €5,520 | = | 0.0% |
| Other amounts receivable | 41 | €5,520 | €5,520 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,356 | €19,417 | +€2,061 | +11.9% |
| Deferred charges and accrued income | 490/1 | €15,083 | €15,831 | +€747 | +5.0% |
| Total equity and liabilities | 10/49 | €1,415,736 | €1,037,841 | -€377,895 | -26.7% |
| Equity | 10/15 | -€72,945 | -€6,710 | +€66,235 | +90.8% |
| Contributions | 10/11 | €67,000 | €67,000 | = | 0.0% |
| Capital | 10 | €67,000 | €67,000 | = | 0.0% |
| Issued capital | 100 | €67,000 | €67,000 | = | 0.0% |
| Reserves | 13 | €62,259 | €128,494 | +€66,235 | +106.4% |
| Non-distributable reserves | 130/1 | €6,700 | €6,700 | = | 0.0% |
| Legal reserve | 130 | €6,700 | €6,700 | = | 0.0% |
| Distributable reserves | 133 | €55,559 | €121,794 | +€66,235 | +119.2% |
| Profit (loss) carried forward | 14 | -€202,204 | -€202,204 | = | 0.0% |
| Amounts payable | 17/49 | €1,488,681 | €1,044,551 | -€444,130 | -29.8% |
| Amounts payable after more than one year | 17 | €1,073,549 | €647,744 | -€425,805 | -39.7% |
| Financial debts | 170/4 | €751,632 | €339,576 | -€412,056 | -54.8% |
| Other amounts payable | 178/9 | €321,917 | €308,168 | -€13,749 | -4.3% |
| Amounts payable within one year | 42/48 | €414,722 | €396,787 | -€17,935 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €65,245 | €32,676 | -€32,569 | -49.9% |
| Trade debts | 44 | €27,366 | €19,757 | -€7,610 | -27.8% |
| Suppliers | 440/4 | €27,366 | €19,757 | -€7,610 | -27.8% |
| Taxes, remuneration and social security | 45 | €5,556 | €6,623 | +€1,068 | +19.2% |
| Taxes | 450/3 | €5,556 | €6,623 | +€1,068 | +19.2% |
| Other amounts payable | 47/48 | €316,555 | €337,731 | +€21,176 | +6.7% |
| Accrued charges and deferred income | 492/3 | €410 | €20 | -€390 | -95.1% |
| Non-recurring operating income | 76A | €128,553 | €132,995 | +€4,442 | +3.5% |
| Remuneration, social security and pensions | 62 | €968 | €998 | +€31 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,132 | €64,833 | -€16,299 | -20.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,715 | - | -€12,715 | |
| Other operating charges | 640/8 | €17,506 | €15,526 | -€1,980 | -11.3% |
| Non-recurring operating charges | 66A | €2,581 | €1,852 | -€729 | -28.3% |
| Gross operating margin | 9900 | €217,819 | €177,521 | -€40,298 | -18.5% |
| Operating profit (loss) | 9901 | €102,918 | €94,312 | -€8,606 | -8.4% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €41,818 | €21,454 | -€20,364 | -48.7% |
| Recurring financial charges | 65 | €31,371 | €21,454 | -€9,917 | -31.6% |
| Non-recurring financial charges | 66B | €10,447 | - | -€10,447 | |
| Profit (loss) for the period before taxes | 9903 | €61,115 | €72,858 | +€11,743 | +19.2% |
| Income taxes | 67/77 | €5,556 | €6,623 | +€1,068 | +19.2% |
| Profit (loss) for the period | 9904 | €55,559 | €66,235 | +€10,676 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,559 | €66,235 | +€10,676 | +19.2% |
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 5 October 2026 via checked.be.