ANNATA: 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.
ANNATA
Largest movements
- Receivables within one year +€92,747
up €92,747 (+9.3%), from €999,954 to €1.1m
- Stocks and contracts -€82,807
down €82,807 (-14.5%), from €572,240 to €489,433
- Current portion of long-term debt -€219,830
down €219,830 (-44.0%), from €499,806 to €279,977
- Profit (loss) carried forward +€203,247
up €203,247 (+74.4%), from €273,085 to €476,332
- Other debts +€124,120
new in 2025: €124,120
- Debts after one year -€75,089
down €75,089 (-35.1%), from €214,186 to €139,097
- Tax, wage and social debts -€25,295
down €25,295 (-25.3%), from €100,042 to €74,746
- Gross operating margin +€87,579
up €87,579 (+328.0%), from €26,697 to €114,277
- Taxes +€26,810
up €26,810 (+16278.9%), from €165 to €26,974
- Financial charges -€12,162
down €12,162 (-48.3%), from €25,202 to €13,040
- Other operating charges +€1,977
new in 2025: €1,977
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,932,773 | €1,938,265 | +€5,492 | +0.3% |
| Fixed assets | 21/28 | €355,246 | €354,062 | -€1,184 | -0.3% |
| Tangible fixed assets | 22/27 | €1,184 | - | -€1,184 | |
| Plant, machinery and equipment | 23 | €1,184 | - | -€1,184 | |
| Financial fixed assets | 28 | €354,062 | €354,062 | = | 0.0% |
| Current assets | 29/58 | €1,577,528 | €1,584,203 | +€6,676 | +0.4% |
| Stocks and contracts in progress | 3 | €572,240 | €489,433 | -€82,807 | -14.5% |
| Stocks | 30/36 | €572,240 | €489,433 | -€82,807 | -14.5% |
| Amounts receivable within one year | 40/41 | €999,954 | €1,092,702 | +€92,747 | +9.3% |
| Other amounts receivable | 41 | €999,954 | €1,092,702 | +€92,747 | +9.3% |
| Cash at bank and in hand | 54/58 | €5,333 | €2,068 | -€3,265 | -61.2% |
| Total equity and liabilities | 10/49 | €1,932,773 | €1,938,265 | +€5,492 | +0.3% |
| Equity | 10/15 | €1,116,412 | €1,319,660 | +€203,247 | +18.2% |
| Contributions | 10/11 | €376,703 | €376,703 | = | 0.0% |
| Outside capital | 11 | €376,703 | €376,703 | = | 0.0% |
| Other | 1109/19 | €376,703 | €376,703 | = | 0.0% |
| Reserves | 13 | €466,624 | €466,624 | = | 0.0% |
| Distributable reserves | 133 | €466,624 | €466,624 | = | 0.0% |
| Profit (loss) carried forward | 14 | €273,085 | €476,332 | +€203,247 | +74.4% |
| Amounts payable | 17/49 | €816,361 | €618,605 | -€197,756 | -24.2% |
| Amounts payable after more than one year | 17 | €214,186 | €139,097 | -€75,089 | -35.1% |
| Financial debts | 170/4 | €214,186 | €139,097 | -€75,089 | -35.1% |
| Amounts payable within one year | 42/48 | €600,206 | €478,843 | -€121,363 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €499,806 | €279,977 | -€219,830 | -44.0% |
| Trade debts | 44 | €358 | - | -€358 | |
| Suppliers | 440/4 | €358 | - | -€358 | |
| Taxes, remuneration and social security | 45 | €100,042 | €74,746 | -€25,295 | -25.3% |
| Taxes | 450/3 | €100,042 | €74,746 | -€25,295 | -25.3% |
| Other amounts payable | 47/48 | - | €124,120 | +€124,120 | |
| Accrued charges and deferred income | 492/3 | €1,969 | €665 | -€1,304 | -66.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €913 | €270 | -€643 | -70.4% |
| Other operating charges | 640/8 | - | €1,977 | +€1,977 | |
| Gross operating margin | 9900 | €26,697 | €114,277 | +€87,579 | +328.0% |
| Operating profit (loss) | 9901 | €25,784 | €112,029 | +€86,245 | +334.5% |
| Financial charges | 65/66B | €25,202 | €13,040 | -€12,162 | -48.3% |
| Recurring financial charges | 65 | €25,202 | €13,040 | -€12,162 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €582 | €98,989 | +€98,406 | +16904.5% |
| Income taxes | 67/77 | €165 | €26,974 | +€26,810 | +16278.9% |
| Profit (loss) for the period | 9904 | €417 | €72,014 | +€71,597 | +17151.4% |
| Profit (loss) for the period to be appropriated | 9905 | €417 | €72,014 | +€71,597 | +17151.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.