ANKAR: 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.
ANKAR
Largest movements
- Cash +€553,074
up €553,074 (+251.7%), from €219,761 to €772,835
mainly Current investments (+€499,998) and Net result for the year (+€413,984)
- Current investments -€499,998
down €499,998 (-99.9%), from €500,313 to €315
- Receivables within one year +€387,807
up €387,807 (+412.2%), from €94,088 to €481,895
of which Trade receivables: +€261,667
- Tangible fixed assets -€47,505
down €47,505 (-3.3%), from €1.5m to €1.4m
of which Other tangible fixed assets: -€32,714
- Other debts +€278,407
up €278,407 (+915.0%), from €30,428 to €308,835
- Reserves +€132,984
up €132,984 (+5.8%), from €2.3m to €2.4m
of which Distributable reserves: +€138,907
- Gross operating margin -€181,766
down €181,766 (-21.0%), from €866,526 to €684,760
- Taxes -€59,123
down €59,123 (-22.4%), from €263,466 to €204,343
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 | €2,806,679 | €3,207,197 | +€400,518 | +14.3% |
| Fixed assets | 21/28 | €1,950,735 | €1,903,230 | -€47,505 | -2.4% |
| Tangible fixed assets | 22/27 | €1,455,524 | €1,408,019 | -€47,505 | -3.3% |
| Land and buildings | 22 | €239,129 | €222,634 | -€16,495 | -6.9% |
| Plant, machinery and equipment | 23 | €1,430 | €1,891 | +€461 | +32.2% |
| Furniture and vehicles | 24 | €8,678 | €9,921 | +€1,243 | +14.3% |
| Other tangible fixed assets | 26 | €1,206,287 | €1,173,573 | -€32,714 | -2.7% |
| Financial fixed assets | 28 | €495,211 | €495,211 | = | 0.0% |
| Current assets | 29/58 | €855,944 | €1,303,967 | +€448,023 | +52.3% |
| Amounts receivable after more than one year | 29 | €38,000 | €38,000 | = | 0.0% |
| Other amounts receivable | 291 | €38,000 | €38,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €94,088 | €481,895 | +€387,807 | +412.2% |
| Trade receivables | 40 | €10,844 | €272,511 | +€261,667 | +2412.9% |
| Other amounts receivable | 41 | €83,244 | €209,384 | +€126,140 | +151.5% |
| Current investments | 50/53 | €500,313 | €315 | -€499,998 | -99.9% |
| Cash at bank and in hand | 54/58 | €219,761 | €772,835 | +€553,074 | +251.7% |
| Deferred charges and accrued income | 490/1 | €3,781 | €10,922 | +€7,140 | +188.8% |
| Total equity and liabilities | 10/49 | €2,806,679 | €3,207,197 | +€400,518 | +14.3% |
| Equity | 10/15 | €2,373,171 | €2,506,155 | +€132,984 | +5.6% |
| Contributions | 10/11 | €72,975 | €72,975 | = | 0.0% |
| Reserves | 13 | €2,300,195 | €2,433,179 | +€132,984 | +5.8% |
| Tax-exempt reserves | 132 | €135,038 | €129,115 | -€5,923 | -4.4% |
| Distributable reserves | 133 | €2,165,158 | €2,304,064 | +€138,907 | +6.4% |
| Provisions and deferred taxes | 16 | €45,013 | €43,038 | -€1,974 | -4.4% |
| Deferred taxes | 168 | €45,013 | €43,038 | -€1,974 | -4.4% |
| Amounts payable | 17/49 | €388,496 | €658,004 | +€269,508 | +69.4% |
| Amounts payable after more than one year | 17 | €120,312 | €111,562 | -€8,750 | -7.3% |
| Financial debts | 170/4 | €120,312 | €111,562 | -€8,750 | -7.3% |
| Amounts payable within one year | 42/48 | €267,669 | €545,200 | +€277,531 | +103.7% |
| Current portion of amounts payable after more than one year | 42 | €8,750 | €8,750 | = | 0.0% |
| Financial debts | 43 | - | €7 | +€7 | |
| Credit institutions | 430/8 | - | €7 | +€7 | |
| Trade debts | 44 | €10,572 | €2,159 | -€8,413 | -79.6% |
| Suppliers | 440/4 | €10,572 | €2,159 | -€8,413 | -79.6% |
| Taxes, remuneration and social security | 45 | €217,920 | €225,449 | +€7,529 | +3.5% |
| Taxes | 450/3 | €198,153 | €225,449 | +€27,296 | +13.8% |
| Remuneration and social security | 454/9 | €19,767 | - | -€19,767 | |
| Other amounts payable | 47/48 | €30,428 | €308,835 | +€278,407 | +915.0% |
| Accrued charges and deferred income | 492/3 | €514 | €1,242 | +€727 | +141.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,079 | €51,179 | +€99 | +0.2% |
| Other operating charges | 640/8 | €22,057 | €25,899 | +€3,842 | +17.4% |
| Non-recurring operating charges | 66A | - | €2,040 | +€2,040 | |
| Gross operating margin | 9900 | €866,526 | €684,760 | -€181,766 | -21.0% |
| Operating profit (loss) | 9901 | €793,390 | €605,642 | -€187,747 | -23.7% |
| Financial income | 75/76B | €7,254 | €13,775 | +€6,521 | +89.9% |
| Recurring financial income | 75 | €7,254 | €13,775 | +€6,521 | +89.9% |
| Financial charges | 65/66B | €3,148 | €3,064 | -€84 | -2.7% |
| Recurring financial charges | 65 | €3,148 | €3,064 | -€84 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €797,496 | €616,353 | -€181,143 | -22.7% |
| Transfer from deferred taxes | 780 | €1,974 | €1,974 | = | 0.0% |
| Income taxes | 67/77 | €263,466 | €204,343 | -€59,123 | -22.4% |
| Profit (loss) for the period | 9904 | €536,003 | €413,984 | -€122,019 | -22.8% |
| Transfer from tax-exempt reserves | 789 | €5,923 | €5,923 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €541,926 | €419,907 | -€122,019 | -22.5% |
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 29 September 2026 via checked.be.