ANLI: 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.
ANLI
Largest movements
- Current investments +€3.0m
up €3.0m (+51.9%), from €5.9m to €8.9m
- Cash -€2.7m
down €2.7m (-81.8%), from €3.3m to €593,925
mainly Current investments (-€3.0m) and Investment in fixed assets (net) (-€11,610)
- Reserves +€205,047
up €205,047 (+3.9%), from €5.2m to €5.4m
of which Distributable reserves: +€158,009
- Financial income -€240,031
down €240,031 (-52.5%), from €457,232 to €217,201
- Gross operating margin +€213,994
up €213,994 (+236%), from €90,619 to €304,612
- Other operating charges -€158,906
down €158,906 (-81.0%), from €196,194 to €37,287
- Taxes +€44,955
up €44,955 (+93.5%), from €48,084 to €93,039
- Financial charges -€18,283
down €18,283 (-27.7%), from €65,934 to €47,651
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,612,612 | €14,849,898 | +€237,286 | +1.6% |
| Fixed assets | 21/28 | €5,460,240 | €5,333,060 | -€127,180 | -2.3% |
| Tangible fixed assets | 22/27 | €5,460,240 | €5,333,060 | -€127,180 | -2.3% |
| Land and buildings | 22 | €5,457,724 | €5,331,535 | -€126,189 | -2.3% |
| Plant, machinery and equipment | 23 | €2,180 | €1,524 | -€656 | -30.1% |
| Furniture and vehicles | 24 | €335 | €0 | -€335 | -100% |
| Current assets | 29/58 | €9,152,372 | €9,516,839 | +€364,466 | +4.0% |
| Amounts receivable within one year | 40/41 | €18,885 | €18,477 | -€408 | -2.2% |
| Trade receivables | 40 | €15,534 | €14,325 | -€1,209 | -7.8% |
| Other amounts receivable | 41 | €3,351 | €4,152 | +€802 | +23.9% |
| Current investments | 50/53 | €5,861,997 | €8,901,768 | +€3.0m | +51.9% |
| Cash at bank and in hand | 54/58 | €3,269,423 | €593,925 | -€2.7m | -81.8% |
| Deferred charges and accrued income | 490/1 | €2,067 | €2,669 | +€602 | +29.1% |
| Total equity and liabilities | 10/49 | €14,612,612 | €14,849,898 | +€237,286 | +1.6% |
| Equity | 10/15 | €14,577,153 | €14,782,200 | +€205,047 | +1.4% |
| Contributions | 10/11 | €9,384,468 | €9,384,468 | = | 0.0% |
| Capital | 10 | €9,384,468 | €9,384,468 | = | 0.0% |
| Issued capital | 100 | €9,384,468 | €9,384,468 | = | 0.0% |
| Reserves | 13 | €5,192,685 | €5,397,732 | +€205,047 | +3.9% |
| Non-distributable reserves | 130/1 | €429,644 | €438,792 | +€9,148 | +2.1% |
| Legal reserve | 130 | €429,644 | €438,792 | +€9,148 | +2.1% |
| Tax-exempt reserves | 132 | €37,890 | €75,780 | +€37,890 | +100% |
| Distributable reserves | 133 | €4,725,151 | €4,883,160 | +€158,009 | +3.3% |
| Amounts payable | 17/49 | €35,459 | €67,698 | +€32,239 | +90.9% |
| Amounts payable within one year | 42/48 | €35,459 | €65,665 | +€30,206 | +85.2% |
| Current portion of amounts payable after more than one year | 42 | €19,179 | €19,179 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €2,979 | €10,542 | +€7,562 | +254% |
| Suppliers | 440/4 | €2,979 | €10,542 | +€7,562 | +254% |
| Taxes, remuneration and social security | 45 | €11,206 | €31,330 | +€20,124 | +180% |
| Taxes | 450/3 | €11,205 | €31,140 | +€19,935 | +178% |
| Remuneration and social security | 454/9 | €2 | €190 | +€189 | +12,100% |
| Other amounts payable | 47/48 | €2,095 | €4,615 | +€2,520 | +120% |
| Accrued charges and deferred income | 492/3 | - | €2,033 | +€2,033 | |
| Non-recurring operating income | 76A | €694 | €303 | -€391 | -56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,125 | €138,790 | +€4,665 | +3.5% |
| Other operating charges | 640/8 | €196,194 | €37,287 | -€158,906 | -81.0% |
| Gross operating margin | 9900 | €90,619 | €304,612 | +€213,994 | +236% |
| Operating profit (loss) | 9901 | -€239,700 | €128,535 | +€368,235 | |
| Financial income | 75/76B | €457,232 | €217,201 | -€240,031 | -52.5% |
| Recurring financial income | 75 | €457,232 | €217,201 | -€240,031 | -52.5% |
| Financial charges | 65/66B | €65,934 | €47,651 | -€18,283 | -27.7% |
| Recurring financial charges | 65 | €65,934 | €47,651 | -€18,283 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €151,598 | €298,086 | +€146,488 | +96.6% |
| Income taxes | 67/77 | €48,084 | €93,039 | +€44,955 | +93.5% |
| Profit (loss) for the period | 9904 | €103,514 | €205,047 | +€101,533 | +98.1% |
| Transfer to tax-exempt reserves | 689 | €0 | €37,890 | +€37,890 | |
| Profit (loss) for the period to be appropriated | 9905 | €103,514 | €167,157 | +€63,643 | +61.5% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.