ANNATH: 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.
ANNATH
Largest movements
- Tangible fixed assets -€57,906
down €57,906 (-13.2%), from €438,876 to €380,969
of which Land and buildings: -€60,339
- Intangible fixed assets -€22,844
down €22,844 (-17.8%), from €128,418 to €105,574
- Cash -€22,233
down €22,233 (-67.1%), from €33,156 to €10,922
mainly Net result for the year (-€75,230) and Debts after one year (-€39,190)
- Receivables within one year +€12,174
up €12,174 (+81054.8%), from €15 to €12,189
- Deferred charges and accrued income +€11,854
up €11,854 (+448.0%), from €2,646 to €14,500
- Profit (loss) carried forward -€75,230
down €75,230 (-46.7%), from -€161,252 to -€236,482
- Other debts +€40,245
up €40,245 (+54.8%), from €73,425 to €113,670
- Debts after one year -€39,190
down €39,190 (-80.6%), from €48,633 to €9,443
- Provisions -€10,321
down €10,321 (-2.6%), from €396,527 to €386,206
- Provisions +€81,705
up €81,705 (+88.8%), from -€92,027 to -€10,321
- Staff costs +€22,964
up €22,964 (+64.2%), from €35,793 to €58,757
- Gross operating margin +€12,253
up €12,253 (+11.3%), from €108,256 to €120,510
- Depreciation +€4,421
up €4,421 (+5.4%), from €82,421 to €86,842
- Financial charges -€3,605
down €3,605 (-6.4%), from €56,025 to €52,421
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 | €859,181 | €774,580 | -€84,601 | -9.8% |
| Fixed assets | 21/28 | €567,913 | €487,162 | -€80,751 | -14.2% |
| Intangible fixed assets | 21 | €128,418 | €105,574 | -€22,844 | -17.8% |
| Tangible fixed assets | 22/27 | €438,876 | €380,969 | -€57,906 | -13.2% |
| Land and buildings | 22 | €431,003 | €370,664 | -€60,339 | -14.0% |
| Plant, machinery and equipment | 23 | €529 | €291 | -€238 | -45.0% |
| Furniture and vehicles | 24 | €4,428 | €3,004 | -€1,424 | -32.2% |
| Other tangible fixed assets | 26 | €2,915 | €7,011 | +€4,096 | +140.5% |
| Financial fixed assets | 28 | €619 | €619 | = | 0.0% |
| Current assets | 29/58 | €291,268 | €287,418 | -€3,851 | -1.3% |
| Stocks and contracts in progress | 3 | €255,452 | €249,807 | -€5,645 | -2.2% |
| Stocks | 30/36 | €255,452 | €249,807 | -€5,645 | -2.2% |
| Amounts receivable within one year | 40/41 | €15 | €12,189 | +€12,174 | +81054.8% |
| Other amounts receivable | 41 | €15 | €12,189 | +€12,174 | +81054.8% |
| Cash at bank and in hand | 54/58 | €33,156 | €10,922 | -€22,233 | -67.1% |
| Deferred charges and accrued income | 490/1 | €2,646 | €14,500 | +€11,854 | +448.0% |
| Total equity and liabilities | 10/49 | €859,181 | €774,580 | -€84,601 | -9.8% |
| Equity | 10/15 | €229,545 | €154,315 | -€75,230 | -32.8% |
| Contributions | 10/11 | €134,690 | €134,690 | = | 0.0% |
| Outside capital | 11 | €134,690 | €134,690 | = | 0.0% |
| Other | 1109/19 | €134,690 | €134,690 | = | 0.0% |
| Revaluation surpluses | 12 | €68,434 | €68,434 | = | 0.0% |
| Reserves | 13 | €187,673 | €187,673 | = | 0.0% |
| Non-distributable reserves | 130/1 | €177,161 | €177,161 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,077 | €6,077 | = | 0.0% |
| Other | 1319 | €171,084 | €171,084 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,459 | €5,459 | = | 0.0% |
| Distributable reserves | 133 | €5,053 | €5,053 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€161,252 | -€236,482 | -€75,230 | -46.7% |
| Provisions and deferred taxes | 16 | €396,527 | €386,206 | -€10,321 | -2.6% |
| Provisions for liabilities and charges | 160/5 | €396,527 | €386,206 | -€10,321 | -2.6% |
| Environmental obligations | 163 | €256,527 | €246,206 | -€10,321 | -4.0% |
| Other liabilities and charges | 164/5 | €140,000 | €140,000 | = | 0.0% |
| Amounts payable | 17/49 | €233,109 | €234,059 | +€950 | +0.4% |
| Amounts payable after more than one year | 17 | €48,633 | €9,443 | -€39,190 | -80.6% |
| Financial debts | 170/4 | €48,633 | €9,443 | -€39,190 | -80.6% |
| Amounts payable within one year | 42/48 | €184,476 | €224,616 | +€40,140 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €37,013 | €39,190 | +€2,177 | +5.9% |
| Trade debts | 44 | €51,884 | €48,415 | -€3,469 | -6.7% |
| Suppliers | 440/4 | €51,884 | €48,415 | -€3,469 | -6.7% |
| Taxes, remuneration and social security | 45 | €22,155 | €23,342 | +€1,187 | +5.4% |
| Taxes | 450/3 | €22,155 | €22,600 | +€446 | +2.0% |
| Remuneration and social security | 454/9 | - | €741 | +€741 | |
| Other amounts payable | 47/48 | €73,425 | €113,670 | +€40,245 | +54.8% |
| Remuneration, social security and pensions | 62 | €35,793 | €58,757 | +€22,964 | +64.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,421 | €86,842 | +€4,421 | +5.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€92,027 | -€10,321 | +€81,705 | +88.8% |
| Other operating charges | 640/8 | €8,147 | €8,354 | +€207 | +2.5% |
| Gross operating margin | 9900 | €108,256 | €120,510 | +€12,253 | +11.3% |
| Operating profit (loss) | 9901 | €73,921 | -€23,123 | -€97,044 | |
| Financial income | 75/76B | €149 | €737 | +€588 | +395.0% |
| Recurring financial income | 75 | €149 | €737 | +€588 | +395.0% |
| Financial charges | 65/66B | €56,025 | €52,421 | -€3,605 | -6.4% |
| Recurring financial charges | 65 | €56,025 | €52,421 | -€3,605 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €18,045 | -€74,807 | -€92,851 | |
| Transfer from deferred taxes | 780 | €33,094 | - | -€33,094 | |
| Income taxes | 67/77 | €927 | €424 | -€504 | -54.3% |
| Profit (loss) for the period | 9904 | €50,211 | -€75,230 | -€125,442 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,211 | -€75,230 | -€125,442 |
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 4 October 2026 via checked.be.