ANN CARTON: 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.
ANN CARTON
Largest movements
- Stocks and contracts -€100,000
down €100,000 (-32.3%), from €310,000 to €210,000
- Tangible fixed assets -€92,970
down €92,970 (-22.7%), from €409,381 to €316,411
of which Furniture and vehicles: -€58,114
- Cash +€82,833
up €82,833 (+777%), from €10,666 to €93,499
mainly Stocks and contracts (+€100,000) and Depreciation (+€92,970)
- Other debts -€82,983
down €82,983 (-42.9%), from €193,321 to €110,338
- Debts after one year -€48,574
down €48,574 (-18.5%), from €262,381 to €213,807
- Reserves +€12,648
up €12,648 (+6.1%), from €207,147 to €219,796
- Depreciation -€4,572
down €4,572 (-4.7%), from €97,543 to €92,970
- Taxes +€4,263
up €4,263 (+587%), from €726 to €4,990
- Gross operating margin +€3,965
up €3,965 (+3.3%), from €120,797 to €124,762
- Financial charges -€1,553
down €1,553 (-15.2%), from €10,215 to €8,662
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 | €737,746 | €628,994 | -€108,751 | -14.7% |
| Fixed assets | 21/28 | €409,381 | €316,411 | -€92,970 | -22.7% |
| Tangible fixed assets | 22/27 | €409,381 | €316,411 | -€92,970 | -22.7% |
| Land and buildings | 22 | €166,877 | €145,701 | -€21,176 | -12.7% |
| Plant, machinery and equipment | 23 | €66,032 | €52,351 | -€13,681 | -20.7% |
| Furniture and vehicles | 24 | €176,473 | €118,359 | -€58,114 | -32.9% |
| Current assets | 29/58 | €328,365 | €312,584 | -€15,781 | -4.8% |
| Stocks and contracts in progress | 3 | €310,000 | €210,000 | -€100,000 | -32.3% |
| Stocks | 30/36 | €310,000 | €210,000 | -€100,000 | -32.3% |
| Amounts receivable within one year | 40/41 | €3,370 | €4,549 | +€1,179 | +35.0% |
| Trade receivables | 40 | €1,452 | €3,783 | +€2,331 | +161% |
| Other amounts receivable | 41 | €1,918 | €766 | -€1,152 | -60.1% |
| Cash at bank and in hand | 54/58 | €10,666 | €93,499 | +€82,833 | +777% |
| Deferred charges and accrued income | 490/1 | €4,328 | €4,536 | +€207 | +4.8% |
| Total equity and liabilities | 10/49 | €737,746 | €628,994 | -€108,751 | -14.7% |
| Equity | 10/15 | €227,147 | €239,796 | +€12,648 | +5.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €207,147 | €219,796 | +€12,648 | +6.1% |
| Distributable reserves | 133 | €207,147 | €219,796 | +€12,648 | +6.1% |
| Amounts payable | 17/49 | €510,598 | €389,199 | -€121,399 | -23.8% |
| Amounts payable after more than one year | 17 | €262,381 | €213,807 | -€48,574 | -18.5% |
| Financial debts | 170/4 | €262,381 | €213,807 | -€48,574 | -18.5% |
| Amounts payable within one year | 42/48 | €248,217 | €175,392 | -€72,826 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €50,931 | €52,553 | +€1,622 | +3.2% |
| Trade debts | 44 | €3,260 | €7,571 | +€4,311 | +132% |
| Suppliers | 440/4 | €3,260 | €7,571 | +€4,311 | +132% |
| Taxes, remuneration and social security | 45 | €706 | €4,930 | +€4,224 | +599% |
| Taxes | 450/3 | €706 | €4,930 | +€4,224 | +599% |
| Other amounts payable | 47/48 | €193,321 | €110,338 | -€82,983 | -42.9% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,543 | €92,970 | -€4,572 | -4.7% |
| Other operating charges | 640/8 | €4,827 | €5,708 | +€881 | +18.3% |
| Gross operating margin | 9900 | €120,797 | €124,762 | +€3,965 | +3.3% |
| Operating profit (loss) | 9901 | €18,427 | €26,083 | +€7,656 | +41.5% |
| Financial income | 75/76B | €70 | €217 | +€147 | +210% |
| Recurring financial income | 75 | €70 | €217 | +€147 | +210% |
| Financial charges | 65/66B | €10,215 | €8,662 | -€1,553 | -15.2% |
| Recurring financial charges | 65 | €10,215 | €8,662 | -€1,553 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €8,282 | €17,638 | +€9,356 | +113% |
| Income taxes | 67/77 | €726 | €4,990 | +€4,263 | +587% |
| Profit (loss) for the period | 9904 | €7,555 | €12,648 | +€5,093 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,555 | €12,648 | +€5,093 | +67.4% |
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 1 November 2026 via checked.be.