Annapurna: 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.
Annapurna
Largest movements
- Tangible fixed assets +€33,505
up €33,505 (+223%), from €15,049 to €48,553
of which Furniture and vehicles: +€27,339
- Receivables within one year +€5,103
up €5,103 (+230%), from €2,223 to €7,326
of which Other amounts receivable: +€5,879
- Cash -€5,015
down €5,015 (-14.9%), from €33,608 to €28,593
mainly Investment in fixed assets (net) (-€41,373) and Contributions, distributions and other (-€15,000)
- Debts after one year +€19,265
new in 2025: €19,265
- Other debts +€5,024
up €5,024 (+48.9%), from €10,276 to €15,300
- Current portion of long-term debt +€4,470
up €4,470 (+1,016%), from €440 to €4,910
- Profit (loss) carried forward +€3,510
up €3,510 (+12.4%), from €28,343 to €31,853
- Gross operating margin +€6,881
up €6,881 (+12.9%), from €53,316 to €60,197
- Depreciation +€5,102
up €5,102 (+184%), from €2,766 to €7,869
- Staff costs -€3,736
down €3,736 (-15.7%), from €23,809 to €20,074
- Financial charges +€1,864
up €1,864 (+157%), from €1,190 to €3,054
- Taxes -€644
down €644 (-17.4%), from €3,709 to €3,065
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 | €54,507 | €88,104 | +€33,597 | +61.6% |
| Fixed assets | 21/28 | €17,761 | €51,265 | +€33,505 | +189% |
| Tangible fixed assets | 22/27 | €15,049 | €48,553 | +€33,505 | +223% |
| Land and buildings | 22 | €4,146 | €9,286 | +€5,140 | +124% |
| Plant, machinery and equipment | 23 | €8,904 | €9,930 | +€1,026 | +11.5% |
| Furniture and vehicles | 24 | €1,998 | €29,337 | +€27,339 | +1,368% |
| Financial fixed assets | 28 | €2,712 | €2,712 | = | 0.0% |
| Current assets | 29/58 | €36,746 | €36,838 | +€93 | +0.3% |
| Stocks and contracts in progress | 3 | €750 | €750 | = | 0.0% |
| Stocks | 30/36 | €750 | €750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,223 | €7,326 | +€5,103 | +230% |
| Trade receivables | 40 | €861 | €85 | -€777 | -90.2% |
| Other amounts receivable | 41 | €1,362 | €7,241 | +€5,879 | +432% |
| Cash at bank and in hand | 54/58 | €33,608 | €28,593 | -€5,015 | -14.9% |
| Deferred charges and accrued income | 490/1 | €165 | €170 | +€5 | +3.1% |
| Total equity and liabilities | 10/49 | €54,507 | €88,104 | +€33,597 | +61.6% |
| Equity | 10/15 | €34,592 | €38,102 | +€3,510 | +10.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €50 | €50 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50 | €50 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50 | €50 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,343 | €31,853 | +€3,510 | +12.4% |
| Amounts payable | 17/49 | €19,914 | €50,002 | +€30,087 | +151% |
| Amounts payable after more than one year | 17 | - | €19,265 | +€19,265 | |
| Financial debts | 170/4 | - | €19,265 | +€19,265 | |
| Amounts payable within one year | 42/48 | €19,914 | €30,737 | +€10,823 | +54.3% |
| Current portion of amounts payable after more than one year | 42 | €440 | €4,910 | +€4,470 | +1,016% |
| Trade debts | 44 | €2,648 | €3,419 | +€771 | +29.1% |
| Suppliers | 440/4 | €2,648 | €3,419 | +€771 | +29.1% |
| Taxes, remuneration and social security | 45 | €6,551 | €7,108 | +€558 | +8.5% |
| Taxes | 450/3 | €4,392 | €5,917 | +€1,525 | +34.7% |
| Remuneration and social security | 454/9 | €2,159 | €1,191 | -€968 | -44.8% |
| Other amounts payable | 47/48 | €10,276 | €15,300 | +€5,024 | +48.9% |
| Remuneration, social security and pensions | 62 | €23,809 | €20,074 | -€3,736 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,766 | €7,869 | +€5,102 | +184% |
| Other operating charges | 640/8 | €272 | €735 | +€463 | +170% |
| Non-recurring operating charges | 66A | - | €6,891 | +€6,891 | |
| Gross operating margin | 9900 | €53,316 | €60,197 | +€6,881 | +12.9% |
| Operating profit (loss) | 9901 | €26,468 | €24,629 | -€1,839 | -6.9% |
| Financial charges | 65/66B | €1,190 | €3,054 | +€1,864 | +157% |
| Recurring financial charges | 65 | €1,190 | €3,054 | +€1,864 | +157% |
| Profit (loss) for the period before taxes | 9903 | €25,278 | €21,575 | -€3,703 | -14.6% |
| Income taxes | 67/77 | €3,709 | €3,065 | -€644 | -17.4% |
| Profit (loss) for the period | 9904 | €21,569 | €18,510 | -€3,059 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,569 | €18,510 | -€3,059 | -14.2% |
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.