ANNAINVEST: 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.
ANNAINVEST
Largest movements
- Tangible fixed assets +€650,019
up €650,019 (+39.1%), from €1.7m to €2.3m
- Cash -€497,771
down €497,771 (-74.6%), from €667,129 to €169,358
mainly Net result for the year (-€429,506) and Investment in fixed assets (net) (-€404,392)
- Financial fixed assets -€320,000
down €320,000 (-36.3%), from €882,219 to €562,219
- Receivables within one year +€106,388
up €106,388 (+155%), from €68,649 to €175,037
of which Other amounts receivable: +€99,883
- Deferred charges and accrued income -€39,096
down €39,096 (-34.7%), from €112,709 to €73,612
- Profit (loss) carried forward -€427,523
down €427,523 (-876%), from -€48,797 to -€476,320
- Revaluation surpluses +€418,894
new in 2025: €418,894
- Other debts -€58,235
down €58,235 (-4.6%), from €1.3m to €1.2m
- Financial charges +€323,068
up €323,068 (+4,756%), from €6,793 to €329,861
of which Non-recurring financial charges: +€320,000
- Gross operating margin -€58,452
down €58,452, from €37,506 to -€20,946
- Depreciation +€16,750
up €16,750 (+29.1%), from €57,623 to €74,373
- Financial income +€3,993
up €3,993 (+184%), from €2,172 to €6,165
- Other operating charges -€2,238
down €2,238 (-17.0%), from €13,169 to €10,932
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 | €3,423,219 | €3,345,845 | -€77,374 | -2.3% |
| Fixed assets | 21/28 | €2,544,334 | €2,874,353 | +€330,019 | +13.0% |
| Tangible fixed assets | 22/27 | €1,662,115 | €2,312,134 | +€650,019 | +39.1% |
| Land and buildings | 22 | €1,662,115 | €2,312,134 | +€650,019 | +39.1% |
| Financial fixed assets | 28 | €882,219 | €562,219 | -€320,000 | -36.3% |
| Current assets | 29/58 | €878,885 | €471,492 | -€407,393 | -46.4% |
| Amounts receivable after more than one year | 29 | €30,399 | €53,485 | +€23,085 | +75.9% |
| Other amounts receivable | 291 | €30,399 | €53,485 | +€23,085 | +75.9% |
| Amounts receivable within one year | 40/41 | €68,649 | €175,037 | +€106,388 | +155% |
| Trade receivables | 40 | - | €6,505 | +€6,505 | |
| Other amounts receivable | 41 | €68,649 | €168,532 | +€99,883 | +145% |
| Cash at bank and in hand | 54/58 | €667,129 | €169,358 | -€497,771 | -74.6% |
| Deferred charges and accrued income | 490/1 | €112,709 | €73,612 | -€39,096 | -34.7% |
| Total equity and liabilities | 10/49 | €3,423,219 | €3,345,845 | -€77,374 | -2.3% |
| Equity | 10/15 | €1,996,506 | €1,985,894 | -€10,612 | -0.5% |
| Contributions | 10/11 | €1,600,000 | €1,600,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €418,894 | +€418,894 | |
| Reserves | 13 | €445,303 | €443,319 | -€1,983 | -0.4% |
| Tax-exempt reserves | 132 | €444,238 | €442,254 | -€1,983 | -0.4% |
| Distributable reserves | 133 | €1,065 | €1,065 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,797 | -€476,320 | -€427,523 | -876% |
| Provisions and deferred taxes | 16 | €148,079 | €147,418 | -€661 | -0.4% |
| Deferred taxes | 168 | €148,079 | €147,418 | -€661 | -0.4% |
| Amounts payable | 17/49 | €1,278,634 | €1,212,533 | -€66,101 | -5.2% |
| Amounts payable within one year | 42/48 | €1,277,488 | €1,211,383 | -€66,105 | -5.2% |
| Trade debts | 44 | €13,447 | €5,577 | -€7,870 | -58.5% |
| Suppliers | 440/4 | €13,447 | €5,577 | -€7,870 | -58.5% |
| Other amounts payable | 47/48 | €1,264,042 | €1,205,806 | -€58,235 | -4.6% |
| Accrued charges and deferred income | 492/3 | €1,146 | €1,150 | +€4 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,623 | €74,373 | +€16,750 | +29.1% |
| Other operating charges | 640/8 | €13,169 | €10,932 | -€2,238 | -17.0% |
| Gross operating margin | 9900 | €37,506 | -€20,946 | -€58,452 | |
| Operating profit (loss) | 9901 | -€33,287 | -€106,251 | -€72,965 | -219% |
| Financial income | 75/76B | €2,172 | €6,165 | +€3,993 | +184% |
| Recurring financial income | 75 | €2,172 | €6,165 | +€3,993 | +184% |
| Financial charges | 65/66B | €6,793 | €329,861 | +€323,068 | +4,756% |
| Recurring financial charges | 65 | €6,793 | €9,861 | +€3,068 | +45.2% |
| Non-recurring financial charges | 66B | - | €320,000 | +€320,000 | |
| Profit (loss) for the period before taxes | 9903 | -€37,908 | -€429,947 | -€392,040 | -1,034% |
| Transfer from deferred taxes | 780 | - | €661 | +€661 | |
| Income taxes | 67/77 | €103 | €220 | +€117 | +114% |
| Profit (loss) for the period | 9904 | -€38,010 | -€429,506 | -€391,496 | -1,030% |
| Transfer from tax-exempt reserves | 789 | - | €1,983 | +€1,983 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,010 | -€427,523 | -€389,512 | -1,025% |
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 14 October 2026 via checked.be.