ANJOVA: 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.
What changed
ANJOVA
NACE 01.461, Pig breeding farms
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€65,929
2024 · €240,779-€174,850
Equity
€488,625
2024 · €433,402+€55,223
Cash
€56,997
2024 · €41,534+€15,463
Balance sheet total
€2.1m
2024 · €2.3m-€194,762
Largest movements
Assets
- Tangible fixed assets -€184,385
down €184,385 (-11.2%), from €1.6m to €1.5m
of which Land and buildings: -€139,528
- Stocks and contracts -€84,022
down €84,022 (-17.0%), from €495,110 to €411,088
- Current investments +€80,000
new in 2025: €80,000
Equity and liabilities
- Other debts -€146,056
down €146,056 (-10.2%), from €1.4m to €1.3m
- Debts after one year -€135,333
down €135,333 (-57.1%), from €236,834 to €101,500
- Profit (loss) carried forward +€65,929
up €65,929 (+12.0%), from -€551,272 to -€485,343
- Trade debts +€40,747
up €40,747 (+76.8%), from €53,050 to €93,796
Income statement
- Gross operating margin -€162,098
down €162,098 (-35.5%), from €456,737 to €294,639
- Financial income -€35,227
down €35,227 (-76.5%), from €46,056 to €10,829
- Financial charges -€20,841
down €20,841 (-54.6%), from €38,199 to €17,358
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.
Result 2024
€240,779
Gross operating margin
-€162,098
Staff costs
+€2,066
Depreciation
-€55
Other operating charges
-€449
Financial income
-€35,227
Financial charges
+€20,841
Taxes
+€1,933
Deferred taxes and other
-€1,860
Result 2025
€65,929
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€270,025
Investment
-€108,522
Financing
-€146,040
Cash 2024
€41,534
From operations (derived)
+€270,025
Net result for the year
+€65,929
Depreciation
+€212,907
Stocks and contracts
+€84,022
Receivables within one year
+€22,858
Deferred charges and accrued income
-€1,041
Provisions
-€564
Trade debts
+€40,747
Tax, wage and social debts
-€8,809
Other debts
-€146,056
Accrued charges and deferred income
+€31
Investment (derived)
-€108,522
Investment in fixed assets (net)
-€28,522
Current investments
-€80,000
Financing
-€146,040
Debts after one year
-€135,333
Contributions, distributions and other
-€10,706
Cash 2025
€56,997
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,308,919 | €2,114,158 | -€194,762 | -8.4% |
| Fixed assets | 21/28 | €1,642,431 | €1,458,045 | -€184,385 | -11.2% |
| Tangible fixed assets | 22/27 | €1,640,811 | €1,456,425 | -€184,385 | -11.2% |
| Land and buildings | 22 | €1,336,867 | €1,197,339 | -€139,528 | -10.4% |
| Plant, machinery and equipment | 23 | €303,944 | €259,086 | -€44,857 | -14.8% |
| Financial fixed assets | 28 | €1,620 | €1,620 | = | 0.0% |
| Current assets | 29/58 | €666,489 | €656,112 | -€10,376 | -1.6% |
| Stocks and contracts in progress | 3 | €495,110 | €411,088 | -€84,022 | -17.0% |
| Stocks | 30/36 | €495,110 | €411,088 | -€84,022 | -17.0% |
| Amounts receivable within one year | 40/41 | €122,056 | €99,198 | -€22,858 | -18.7% |
| Trade receivables | 40 | €122,056 | €91,288 | -€30,768 | -25.2% |
| Other amounts receivable | 41 | €0 | €7,910 | +€7,910 | |
| Current investments | 50/53 | - | €80,000 | +€80,000 | |
| Cash at bank and in hand | 54/58 | €41,534 | €56,997 | +€15,463 | +37.2% |
| Deferred charges and accrued income | 490/1 | €7,789 | €8,830 | +€1,041 | +13.4% |
| Total equity and liabilities | 10/49 | €2,308,919 | €2,114,158 | -€194,762 | -8.4% |
| Equity | 10/15 | €433,402 | €488,625 | +€55,223 | +12.7% |
| Contributions | 10/11 | €912,500 | €912,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€551,272 | -€485,343 | +€65,929 | +12.0% |
| Investment grants | 15 | €72,174 | €61,468 | -€10,706 | -14.8% |
| Provisions and deferred taxes | 16 | €3,799 | €3,235 | -€564 | -14.8% |
| Deferred taxes | 168 | €3,799 | €3,235 | -€564 | -14.8% |
| Amounts payable | 17/49 | €1,871,719 | €1,622,298 | -€249,421 | -13.3% |
| Amounts payable after more than one year | 17 | €236,834 | €101,500 | -€135,333 | -57.1% |
| Financial debts | 170/4 | €236,834 | €101,500 | -€135,333 | -57.1% |
| Amounts payable within one year | 42/48 | €1,634,885 | €1,520,767 | -€114,118 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €135,333 | €135,333 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €53,050 | €93,796 | +€40,747 | +76.8% |
| Suppliers | 440/4 | €53,050 | €93,796 | +€40,747 | +76.8% |
| Taxes, remuneration and social security | 45 | €9,558 | €749 | -€8,809 | -92.2% |
| Taxes | 450/3 | €9,558 | €749 | -€8,809 | -92.2% |
| Other amounts payable | 47/48 | €1,436,945 | €1,290,889 | -€146,056 | -10.2% |
| Accrued charges and deferred income | 492/3 | - | €31 | +€31 | |
| Non-recurring operating income | 76A | €9,900 | €0 | -€9,900 | -100% |
| Remuneration, social security and pensions | 62 | - | -€2,066 | -€2,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212,852 | €212,907 | +€55 | 0.0% |
| Other operating charges | 640/8 | €10,792 | €11,241 | +€449 | +4.2% |
| Gross operating margin | 9900 | €456,737 | €294,639 | -€162,098 | -35.5% |
| Operating profit (loss) | 9901 | €233,093 | €72,556 | -€160,537 | -68.9% |
| Financial income | 75/76B | €46,056 | €10,829 | -€35,227 | -76.5% |
| Recurring financial income | 75 | €46,056 | €10,829 | -€35,227 | -76.5% |
| Financial charges | 65/66B | €38,199 | €17,358 | -€20,841 | -54.6% |
| Recurring financial charges | 65 | €38,199 | €17,358 | -€20,841 | -54.6% |
| Profit (loss) for the period before taxes | 9903 | €240,950 | €66,027 | -€174,923 | -72.6% |
| Transfer from deferred taxes | 780 | €2,424 | €564 | -€1,860 | -76.8% |
| Income taxes | 67/77 | €2,595 | €662 | -€1,933 | -74.5% |
| Profit (loss) for the period | 9904 | €240,779 | €65,929 | -€174,850 | -72.6% |
| Profit (loss) for the period to be appropriated | 9905 | €240,779 | €65,929 | -€174,850 | -72.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.