ANN WITTERS: 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.
ANN WITTERS
Largest movements
- Current investments -€164,130
down €164,130 (-22.6%), from €725,977 to €561,847
- Tangible fixed assets +€54,789
up €54,789 (+9.5%), from €579,545 to €634,335
of which Furniture and vehicles: +€90,693
- Cash +€34,855
up €34,855 (+5.9%), from €595,221 to €630,076
mainly Current investments (+€164,130) and Net result for the year (+€157,016)
- Reserves -€34,391
down €34,391 (-1.9%), from €1.8m to €1.8m
of which Tax-exempt reserves: -€126,300
- Current portion of long-term debt -€24,731
down €24,731 (-100.0%), from €24,731 to €0
- Financial charges -€99,623
down €99,623 (-97.4%), from €102,232 to €2,609
- Taxes +€19,898
up €19,898 (+32.5%), from €61,304 to €81,203
- Gross operating margin +€12,374
up €12,374 (+4.7%), from €263,594 to €275,969
- Depreciation +€5,505
up €5,505 (+14.6%), from €37,741 to €43,246
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 | €1,989,035 | €1,933,582 | -€55,453 | -2.8% |
| Fixed assets | 21/28 | €579,545 | €634,335 | +€54,789 | +9.5% |
| Tangible fixed assets | 22/27 | €579,545 | €634,335 | +€54,789 | +9.5% |
| Land and buildings | 22 | €572,313 | €536,975 | -€35,338 | -6.2% |
| Plant, machinery and equipment | 23 | €1,966 | €1,400 | -€566 | -28.8% |
| Furniture and vehicles | 24 | €5,267 | €95,960 | +€90,693 | +1722.1% |
| Current assets | 29/58 | €1,409,490 | €1,299,248 | -€110,242 | -7.8% |
| Amounts receivable within one year | 40/41 | €33,676 | €42,427 | +€8,751 | +26.0% |
| Trade receivables | 40 | €33,468 | €42,356 | +€8,888 | +26.6% |
| Other amounts receivable | 41 | €208 | €71 | -€136 | -65.8% |
| Current investments | 50/53 | €725,977 | €561,847 | -€164,130 | -22.6% |
| Cash at bank and in hand | 54/58 | €595,221 | €630,076 | +€34,855 | +5.9% |
| Deferred charges and accrued income | 490/1 | €54,617 | €64,899 | +€10,282 | +18.8% |
| Total equity and liabilities | 10/49 | €1,989,035 | €1,933,582 | -€55,453 | -2.8% |
| Equity | 10/15 | €1,826,680 | €1,792,288 | -€34,391 | -1.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,814,280 | €1,779,888 | -€34,391 | -1.9% |
| Tax-exempt reserves | 132 | €126,300 | €0 | -€126,300 | -100.0% |
| Distributable reserves | 133 | €1,687,980 | €1,779,888 | +€91,909 | +5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €162,355 | €141,294 | -€21,061 | -13.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €162,355 | €141,294 | -€21,061 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €24,731 | €0 | -€24,731 | -100.0% |
| Trade debts | 44 | €522 | €4,835 | +€4,313 | +825.9% |
| Suppliers | 440/4 | €522 | €4,835 | +€4,313 | +825.9% |
| Taxes, remuneration and social security | 45 | €40,664 | €43,353 | +€2,688 | +6.6% |
| Taxes | 450/3 | €40,664 | €43,353 | +€2,688 | +6.6% |
| Other amounts payable | 47/48 | €96,438 | €93,106 | -€3,332 | -3.5% |
| Non-recurring operating income | 76A | - | €16,983 | +€16,983 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,741 | €43,246 | +€5,505 | +14.6% |
| Other operating charges | 640/8 | €3,834 | €5,310 | +€1,476 | +38.5% |
| Non-recurring operating charges | 66A | €519 | €265 | -€254 | -49.0% |
| Gross operating margin | 9900 | €263,594 | €275,969 | +€12,374 | +4.7% |
| Operating profit (loss) | 9901 | €221,500 | €227,147 | +€5,647 | +2.5% |
| Financial income | 75/76B | €11,101 | €13,680 | +€2,579 | +23.2% |
| Recurring financial income | 75 | €11,101 | €13,680 | +€2,579 | +23.2% |
| Financial charges | 65/66B | €102,232 | €2,609 | -€99,623 | -97.4% |
| Recurring financial charges | 65 | €102,232 | €2,609 | -€99,623 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | €130,369 | €238,219 | +€107,849 | +82.7% |
| Income taxes | 67/77 | €61,304 | €81,203 | +€19,898 | +32.5% |
| Profit (loss) for the period | 9904 | €69,065 | €157,016 | +€87,951 | +127.3% |
| Transfer from tax-exempt reserves | 789 | €0 | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €69,065 | €283,316 | +€214,251 | +310.2% |
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 8 October 2026 via checked.be.