ANNE FEUILLEN: 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.
ANNE FEUILLEN
Largest movements
- Tangible fixed assets -€21,022
down €21,022 (-6.4%), from €328,014 to €306,992
of which Land and buildings: -€12,034
- Receivables after one year -€20,511
down €20,511 (-76.5%), from €26,811 to €6,301
- Profit (loss) carried forward -€17,151
down €17,151 (-8.4%), from -€204,267 to -€221,418
- Debts after one year -€16,654
down €16,654 (-8.4%), from €199,281 to €182,627
- Reserves -€11,000
down €11,000 (-4.9%), from €222,692 to €211,692
of which Tax-exempt reserves: -€11,000
- Other debts +€8,011
up €8,011 (+16.6%), from €48,133 to €56,144
- Gross operating margin -€5,704
down €5,704, from €1,060 to -€4,644
- Financial income -€390
down €390 (-44.3%), from €879 to €489
- Other operating charges -€173
down €173 (-6.5%), from €2,644 to €2,471
- Financial charges -€61
down €61 (-2.0%), from €3,027 to €2,966
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 | €355,410 | €314,404 | -€41,006 | -11.5% |
| Fixed assets | 21/28 | €328,064 | €307,042 | -€21,022 | -6.4% |
| Tangible fixed assets | 22/27 | €328,014 | €306,992 | -€21,022 | -6.4% |
| Land and buildings | 22 | €307,928 | €295,895 | -€12,034 | -3.9% |
| Plant, machinery and equipment | 23 | €10,884 | €6,972 | -€3,912 | -35.9% |
| Furniture and vehicles | 24 | €7,682 | €3,782 | -€3,900 | -50.8% |
| Other tangible fixed assets | 26 | €1,519 | €344 | -€1,176 | -77.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €27,346 | €7,362 | -€19,984 | -73.1% |
| Amounts receivable after more than one year | 29 | €26,811 | €6,301 | -€20,511 | -76.5% |
| Other amounts receivable | 291 | €26,811 | €6,301 | -€20,511 | -76.5% |
| Amounts receivable within one year | 40/41 | €324 | €762 | +€438 | +135% |
| Other amounts receivable | 41 | €324 | €762 | +€438 | +135% |
| Cash at bank and in hand | 54/58 | €211 | €300 | +€89 | +42.1% |
| Total equity and liabilities | 10/49 | €355,410 | €314,404 | -€41,006 | -11.5% |
| Equity | 10/15 | €30,825 | €2,674 | -€28,151 | -91.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €222,692 | €211,692 | -€11,000 | -4.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €220,832 | €209,832 | -€11,000 | -5.0% |
| Profit (loss) carried forward | 14 | -€204,267 | -€221,418 | -€17,151 | -8.4% |
| Provisions and deferred taxes | 16 | €55,208 | €52,458 | -€2,750 | -5.0% |
| Deferred taxes | 168 | €55,208 | €52,458 | -€2,750 | -5.0% |
| Amounts payable | 17/49 | €269,377 | €259,272 | -€10,105 | -3.8% |
| Amounts payable after more than one year | 17 | €199,281 | €182,627 | -€16,654 | -8.4% |
| Financial debts | 170/4 | €199,281 | €182,627 | -€16,654 | -8.4% |
| Amounts payable within one year | 42/48 | €70,096 | €76,645 | +€6,549 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €16,457 | €16,654 | +€197 | +1.2% |
| Financial debts | 43 | €3,716 | €1,289 | -€2,427 | -65.3% |
| Credit institutions | 430/8 | €3,716 | €1,289 | -€2,427 | -65.3% |
| Trade debts | 44 | €794 | €2,214 | +€1,420 | +179% |
| Suppliers | 440/4 | €794 | €2,214 | +€1,420 | +179% |
| Advances received on contracts in progress | 46 | €570 | - | -€570 | |
| Taxes, remuneration and social security | 45 | €425 | €343 | -€82 | -19.4% |
| Taxes | 450/3 | €425 | €343 | -€82 | -19.4% |
| Other amounts payable | 47/48 | €48,133 | €56,144 | +€8,011 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,022 | €21,022 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,644 | €2,471 | -€173 | -6.5% |
| Gross operating margin | 9900 | €1,060 | -€4,644 | -€5,704 | |
| Operating profit (loss) | 9901 | -€22,606 | -€28,137 | -€5,531 | -24.5% |
| Financial income | 75/76B | €879 | €489 | -€390 | -44.3% |
| Recurring financial income | 75 | €879 | €489 | -€390 | -44.3% |
| Financial charges | 65/66B | €3,027 | €2,966 | -€61 | -2.0% |
| Recurring financial charges | 65 | €3,027 | €2,966 | -€61 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,754 | -€30,614 | -€5,860 | -23.7% |
| Transfer from deferred taxes | 780 | €2,750 | €2,750 | = | 0.0% |
| Income taxes | 67/77 | €275 | €287 | +€11 | +4.0% |
| Profit (loss) for the period | 9904 | -€22,279 | -€28,151 | -€5,871 | -26.4% |
| Transfer from tax-exempt reserves | 789 | €11,000 | €11,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,279 | -€17,151 | -€5,871 | -52.1% |
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 19 October 2026 via checked.be.