ANJOWE: 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.
ANJOWE
Largest movements
- Tangible fixed assets -€340,461
down €340,461 (-31.3%), from €1.1m to €748,803
of which Land and buildings: -€337,370
- Cash +€50,616
up €50,616 (+726%), from €6,971 to €57,587
mainly Investment in fixed assets (net) (+€328,212) and Net result for the year (+€282,631)
- Debts after one year -€288,526
no longer reported in 2025 (was €288,526)
- Revaluation surpluses -€164,578
no longer reported in 2025 (was €164,578)
- Other debts -€161,281
down €161,281 (-21.8%), from €740,247 to €578,966
- Reserves +€151,168
up €151,168 (+595%), from €25,422 to €176,590
- Profit (loss) carried forward +€131,463
no longer reported in 2025 (was -€131,463)
- Gross operating margin +€378,800
up €378,800 (+820%), from €46,223 to €425,023
- Taxes +€111,284
up €111,284 (+31,808%), from €350 to €111,634
- Depreciation -€13,561
down €13,561 (-52.5%), from €25,810 to €12,249
- Financial charges -€7,849
down €7,849 (-35.0%), from €22,404 to €14,555
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 | €1,110,861 | €822,288 | -€288,573 | -26.0% |
| Fixed assets | 21/28 | €1,089,264 | €748,803 | -€340,461 | -31.3% |
| Tangible fixed assets | 22/27 | €1,089,264 | €748,803 | -€340,461 | -31.3% |
| Land and buildings | 22 | €1,085,556 | €748,186 | -€337,370 | -31.1% |
| Plant, machinery and equipment | 23 | €814 | €617 | -€198 | -24.3% |
| Furniture and vehicles | 24 | €2,894 | - | -€2,894 | |
| Current assets | 29/58 | €21,597 | €73,485 | +€51,888 | +240% |
| Amounts receivable within one year | 40/41 | €7,078 | €11,219 | +€4,141 | +58.5% |
| Trade receivables | 40 | €359 | €4,500 | +€4,141 | +1,153% |
| Other amounts receivable | 41 | €6,719 | €6,719 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,971 | €57,587 | +€50,616 | +726% |
| Deferred charges and accrued income | 490/1 | €7,549 | €4,680 | -€2,869 | -38.0% |
| Total equity and liabilities | 10/49 | €1,110,861 | €822,288 | -€288,573 | -26.0% |
| Equity | 10/15 | €64,737 | €182,790 | +€118,053 | +182% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Revaluation surpluses | 12 | €164,578 | - | -€164,578 | |
| Reserves | 13 | €25,422 | €176,590 | +€151,168 | +595% |
| Distributable reserves | 133 | €25,422 | €176,590 | +€151,168 | +595% |
| Profit (loss) carried forward | 14 | -€131,463 | - | +€131,463 | |
| Amounts payable | 17/49 | €1,046,124 | €639,498 | -€406,626 | -38.9% |
| Amounts payable after more than one year | 17 | €288,526 | - | -€288,526 | |
| Financial debts | 170/4 | €288,526 | - | -€288,526 | |
| Amounts payable within one year | 42/48 | €755,547 | €637,448 | -€118,100 | -15.6% |
| Current portion of amounts payable after more than one year | 42 | €12,364 | - | -€12,364 | |
| Trade debts | 44 | €1,949 | €8,263 | +€6,314 | +324% |
| Suppliers | 440/4 | €1,949 | €8,263 | +€6,314 | +324% |
| Taxes, remuneration and social security | 45 | €987 | €50,219 | +€49,231 | +4,986% |
| Taxes | 450/3 | €987 | €50,219 | +€49,231 | +4,986% |
| Other amounts payable | 47/48 | €740,247 | €578,966 | -€161,281 | -21.8% |
| Accrued charges and deferred income | 492/3 | €2,050 | €2,050 | = | 0.0% |
| Non-recurring operating income | 76A | - | €413,934 | +€413,934 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,810 | €12,249 | -€13,561 | -52.5% |
| Other operating charges | 640/8 | €4,084 | €3,957 | -€127 | -3.1% |
| Gross operating margin | 9900 | €46,223 | €425,023 | +€378,800 | +820% |
| Operating profit (loss) | 9901 | €16,329 | €408,817 | +€392,488 | +2,404% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €22,404 | €14,555 | -€7,849 | -35.0% |
| Recurring financial charges | 65 | €22,404 | €14,555 | -€7,849 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,075 | €394,265 | +€400,340 | |
| Income taxes | 67/77 | €350 | €111,634 | +€111,284 | +31,808% |
| Profit (loss) for the period | 9904 | -€6,425 | €282,631 | +€289,056 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,425 | €282,631 | +€289,056 |
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 26 October 2026 via checked.be.