ANJO: 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.
ANJO
Largest movements
- Tangible fixed assets -€202,775
down €202,775 (-2.8%), from €7.1m to €6.9m
- Cash -€105,661
down €105,661 (-63.8%), from €165,592 to €59,931
mainly Debts after one year (-€354,883) and Current investments (-€100,077)
- Current investments +€100,077
new in 2025: €100,077
- Debts after one year -€354,883
down €354,883 (-13.9%), from €2.6m to €2.2m
of which Financial debts: -€354,883
- Reserves +€95,020
up €95,020 (+5.7%), from €1.7m to €1.8m
of which Distributable reserves: +€119,590
- Other debts +€82,688
up €82,688 (+5.6%), from €1.5m to €1.6m
- Gross operating margin +€152,859
up €152,859 (+42.5%), from €359,370 to €512,229
- Financial income -€26,205
down €26,205 (-92.1%), from €28,449 to €2,244
- Other operating charges -€24,376
down €24,376 (-33.4%), from €72,997 to €48,622
- Depreciation +€17,507
up €17,507 (+7.3%), from €239,996 to €257,503
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 | €7,355,632 | €7,125,203 | -€230,429 | -3.1% |
| Fixed assets | 21/28 | €7,142,661 | €6,939,886 | -€202,775 | -2.8% |
| Tangible fixed assets | 22/27 | €7,135,838 | €6,933,063 | -€202,775 | -2.8% |
| Land and buildings | 22 | €7,135,838 | €6,933,063 | -€202,775 | -2.8% |
| Financial fixed assets | 28 | €6,823 | €6,823 | = | 0.0% |
| Current assets | 29/58 | €212,971 | €185,317 | -€27,654 | -13.0% |
| Amounts receivable within one year | 40/41 | €33,652 | €22,625 | -€11,028 | -32.8% |
| Trade receivables | 40 | €7,789 | €16,720 | +€8,931 | +114.7% |
| Other amounts receivable | 41 | €25,864 | €5,905 | -€19,959 | -77.2% |
| Current investments | 50/53 | - | €100,077 | +€100,077 | |
| Cash at bank and in hand | 54/58 | €165,592 | €59,931 | -€105,661 | -63.8% |
| Deferred charges and accrued income | 490/1 | €13,727 | €2,684 | -€11,043 | -80.4% |
| Total equity and liabilities | 10/49 | €7,355,632 | €7,125,203 | -€230,429 | -3.1% |
| Equity | 10/15 | €2,704,560 | €2,799,580 | +€95,020 | +3.5% |
| Contributions | 10/11 | €1,025,186 | €1,025,186 | = | 0.0% |
| Capital | 10 | €1,025,186 | €1,025,186 | = | 0.0% |
| Issued capital | 100 | €1,025,186 | €1,025,186 | = | 0.0% |
| Reserves | 13 | €1,679,375 | €1,774,394 | +€95,020 | +5.7% |
| Non-distributable reserves | 130/1 | €102,519 | €102,519 | = | 0.0% |
| Legal reserve | 130 | €102,519 | €102,519 | = | 0.0% |
| Tax-exempt reserves | 132 | €574,647 | €550,077 | -€24,571 | -4.3% |
| Distributable reserves | 133 | €1,002,209 | €1,121,799 | +€119,590 | +11.9% |
| Provisions and deferred taxes | 16 | €179,023 | €170,835 | -€8,188 | -4.6% |
| Deferred taxes | 168 | €179,023 | €170,835 | -€8,188 | -4.6% |
| Amounts payable | 17/49 | €4,472,049 | €4,154,788 | -€317,261 | -7.1% |
| Amounts payable after more than one year | 17 | €2,554,726 | €2,199,843 | -€354,883 | -13.9% |
| Financial debts | 170/4 | €2,553,219 | €2,198,336 | -€354,883 | -13.9% |
| Other amounts payable | 178/9 | €1,507 | €1,507 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,917,323 | €1,954,945 | +€37,622 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €367,061 | €340,691 | -€26,370 | -7.2% |
| Trade debts | 44 | €12,312 | €3,958 | -€8,355 | -67.9% |
| Suppliers | 440/4 | €12,312 | €3,958 | -€8,355 | -67.9% |
| Advances received on contracts in progress | 46 | €24,023 | €15,617 | -€8,406 | -35.0% |
| Taxes, remuneration and social security | 45 | €25,466 | €23,529 | -€1,936 | -7.6% |
| Taxes | 450/3 | €25,466 | €23,529 | -€1,936 | -7.6% |
| Other amounts payable | 47/48 | €1,488,461 | €1,571,150 | +€82,688 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €239,996 | €257,503 | +€17,507 | +7.3% |
| Other operating charges | 640/8 | €72,997 | €48,622 | -€24,376 | -33.4% |
| Gross operating margin | 9900 | €359,370 | €512,229 | +€152,859 | +42.5% |
| Operating profit (loss) | 9901 | €46,376 | €206,105 | +€159,728 | +344.4% |
| Financial income | 75/76B | €28,449 | €2,244 | -€26,205 | -92.1% |
| Recurring financial income | 75 | €28,449 | €2,244 | -€26,205 | -92.1% |
| Financial charges | 65/66B | €123,865 | €121,517 | -€2,348 | -1.9% |
| Recurring financial charges | 65 | €123,865 | €121,517 | -€2,348 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | -€49,039 | €86,832 | +€135,871 | |
| Transfer from deferred taxes | 780 | €8,270 | €8,188 | -€82 | -1.0% |
| Profit (loss) for the period | 9904 | -€40,770 | €95,020 | +€135,789 | |
| Transfer from tax-exempt reserves | 789 | €24,816 | €24,571 | -€245 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,954 | €119,590 | +€135,544 |
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 3 October 2026 via checked.be.