ANJAC: 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.
ANJAC
Largest movements
- Tangible fixed assets -€186,199
down €186,199 (-10.4%), from €1.8m to €1.6m
of which Land and buildings: -€189,702
- Profit (loss) carried forward -€271,184
down €271,184 (-16.6%), from -€1.6m to -€1.9m
- Other debts +€162,783
up €162,783 (+218.1%), from €74,638 to €237,421
- Debts after one year -€27,939
down €27,939 (-2.9%), from €975,955 to €948,016
of which Financial debts: -€27,939
- Reserves -€27,434
down €27,434 (-18.2%), from €150,519 to €123,086
- Gross operating margin -€128,219
down €128,219, from €18,868 to -€109,351
- Depreciation -€35,024
down €35,024 (-15.5%), from €225,574 to €190,550
- Other operating charges +€2,770
up €2,770 (+54.2%), from €5,113 to €7,883
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 | €1,819,328 | €1,635,502 | -€183,826 | -10.1% |
| Fixed assets | 21/28 | €1,787,936 | €1,601,737 | -€186,199 | -10.4% |
| Tangible fixed assets | 22/27 | €1,787,936 | €1,601,737 | -€186,199 | -10.4% |
| Land and buildings | 22 | €1,785,802 | €1,596,100 | -€189,702 | -10.6% |
| Plant, machinery and equipment | 23 | €2,135 | €5,638 | +€3,503 | +164.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €31,392 | €33,765 | +€2,373 | +7.6% |
| Stocks and contracts in progress | 3 | €29,000 | €29,000 | = | 0.0% |
| Stocks | 30/36 | €29,000 | €29,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €0 | €2,020 | +€2,020 | |
| Trade receivables | 40 | €0 | €2,020 | +€2,020 | |
| Cash at bank and in hand | 54/58 | €833 | €1,241 | +€408 | +49.0% |
| Deferred charges and accrued income | 490/1 | €1,559 | €1,504 | -€55 | -3.5% |
| Total equity and liabilities | 10/49 | €1,819,328 | €1,635,502 | -€183,826 | -10.1% |
| Equity | 10/15 | €671,810 | €373,193 | -€298,617 | -44.4% |
| Contributions | 10/11 | €527,000 | €527,000 | = | 0.0% |
| Capital | 10 | €527,000 | €527,000 | = | 0.0% |
| Issued capital | 100 | €527,000 | €527,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,629,353 | €1,629,353 | = | 0.0% |
| Reserves | 13 | €150,519 | €123,086 | -€27,434 | -18.2% |
| Tax-exempt reserves | 132 | €150,519 | €123,086 | -€27,434 | -18.2% |
| Profit (loss) carried forward | 14 | -€1,635,063 | -€1,906,246 | -€271,184 | -16.6% |
| Provisions and deferred taxes | 16 | €47,611 | €33,485 | -€14,126 | -29.7% |
| Deferred taxes | 168 | €47,611 | €33,485 | -€14,126 | -29.7% |
| Amounts payable | 17/49 | €1,099,907 | €1,228,824 | +€128,917 | +11.7% |
| Amounts payable after more than one year | 17 | €975,955 | €948,016 | -€27,939 | -2.9% |
| Financial debts | 170/4 | €222,739 | €194,801 | -€27,939 | -12.5% |
| Other amounts payable | 178/9 | €753,216 | €753,216 | = | 0.0% |
| Amounts payable within one year | 42/48 | €123,952 | €280,808 | +€156,855 | +126.5% |
| Current portion of amounts payable after more than one year | 42 | €29,953 | €27,939 | -€2,015 | -6.7% |
| Trade debts | 44 | €16,365 | €12,495 | -€3,870 | -23.6% |
| Suppliers | 440/4 | €16,365 | €12,495 | -€3,870 | -23.6% |
| Taxes, remuneration and social security | 45 | €2,996 | €2,953 | -€43 | -1.4% |
| Taxes | 450/3 | €2,996 | €2,953 | -€43 | -1.4% |
| Other amounts payable | 47/48 | €74,638 | €237,421 | +€162,783 | +218.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €225,574 | €190,550 | -€35,024 | -15.5% |
| Other operating charges | 640/8 | €5,113 | €7,883 | +€2,770 | +54.2% |
| Gross operating margin | 9900 | €18,868 | -€109,351 | -€128,219 | |
| Operating profit (loss) | 9901 | -€211,819 | -€307,784 | -€95,965 | -45.3% |
| Financial income | 75/76B | €63 | €0 | -€63 | -100.0% |
| Recurring financial income | 75 | €63 | €0 | -€63 | -100.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,679 | €4,959 | -€720 | -12.7% |
| Recurring financial charges | 65 | €5,679 | €4,959 | -€720 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | -€217,435 | -€312,743 | -€95,308 | -43.8% |
| Transfer from deferred taxes | 780 | €14,126 | €14,126 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€203,309 | -€298,617 | -€95,308 | -46.9% |
| Transfer from tax-exempt reserves | 789 | €27,434 | €27,434 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€175,876 | -€271,184 | -€95,308 | -54.2% |
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 1 October 2026 via checked.be.