Annecour Groep: what changed
Annecour Groep
Largest movements
- Cash +€111,866
up €111,866 (+233%), from €47,959 to €159,825
mainly Net result for the year (+€156,201) and Investment in fixed assets (net) (+€29,066)
- Receivables within one year +€48,666
up €48,666 (+19.0%), from €256,284 to €304,949
of which Trade receivables: +€42,326
- Tangible fixed assets -€44,819
down €44,819 (-54.7%), from €81,908 to €37,089
of which Furniture and vehicles: -€44,590
- Profit (loss) carried forward +€156,201
up €156,201 (+80.5%), from €193,973 to €350,174
- Other debts -€50,736
down €50,736 (-67.1%), from €75,572 to €24,836
- Tax, wage and social debts +€10,186
up €10,186 (+9.9%), from €103,048 to €113,234
of which Taxes: +€17,061
- Gross operating margin +€166,053
up €166,053 (+56.1%), from €296,082 to €462,134
- Staff costs +€71,249
up €71,249 (+45.6%), from €156,181 to €227,430
- Taxes +€34,016
up €34,016 (+165%), from €20,630 to €54,647
- Depreciation -€7,209
down €7,209 (-31.4%), from €22,962 to €15,753
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €391,833 | €510,968 | +€119,136 | +30.4% |
| Fixed assets | 21/28 | €81,908 | €37,089 | -€44,819 | -54.7% |
| Tangible fixed assets | 22/27 | €81,908 | €37,089 | -€44,819 | -54.7% |
| Plant, machinery and equipment | 23 | €1,483 | €1,254 | -€229 | -15.5% |
| Furniture and vehicles | 24 | €80,425 | €35,836 | -€44,590 | -55.4% |
| Current assets | 29/58 | €309,924 | €473,879 | +€163,955 | +52.9% |
| Amounts receivable within one year | 40/41 | €256,284 | €304,949 | +€48,666 | +19.0% |
| Trade receivables | 40 | €255,913 | €298,239 | +€42,326 | +16.5% |
| Other amounts receivable | 41 | €371 | €6,711 | +€6,340 | +1,710% |
| Cash at bank and in hand | 54/58 | €47,959 | €159,825 | +€111,866 | +233% |
| Deferred charges and accrued income | 490/1 | €5,681 | €9,104 | +€3,423 | +60.2% |
| Total equity and liabilities | 10/49 | €391,833 | €510,968 | +€119,136 | +30.4% |
| Equity | 10/15 | €196,473 | €352,674 | +€156,201 | +79.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €193,973 | €350,174 | +€156,201 | +80.5% |
| Amounts payable | 17/49 | €195,359 | €158,294 | -€37,065 | -19.0% |
| Amounts payable within one year | 42/48 | €194,791 | €156,625 | -€38,167 | -19.6% |
| Trade debts | 44 | €14,759 | €18,141 | +€3,382 | +22.9% |
| Suppliers | 440/4 | €14,759 | €18,141 | +€3,382 | +22.9% |
| Advances received on contracts in progress | 46 | €1,412 | €413 | -€998 | -70.7% |
| Taxes, remuneration and social security | 45 | €103,048 | €113,234 | +€10,186 | +9.9% |
| Taxes | 450/3 | €78,676 | €95,737 | +€17,061 | +21.7% |
| Remuneration and social security | 454/9 | €24,372 | €17,498 | -€6,875 | -28.2% |
| Other amounts payable | 47/48 | €75,572 | €24,836 | -€50,736 | -67.1% |
| Accrued charges and deferred income | 492/3 | €568 | €1,669 | +€1,101 | +194% |
| Remuneration, social security and pensions | 62 | €156,181 | €227,430 | +€71,249 | +45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,962 | €15,753 | -€7,209 | -31.4% |
| Other operating charges | 640/8 | €1,537 | €4,571 | +€3,034 | +197% |
| Gross operating margin | 9900 | €296,082 | €462,134 | +€166,053 | +56.1% |
| Operating profit (loss) | 9901 | €115,401 | €214,381 | +€98,979 | +85.8% |
| Financial income | 75/76B | €24 | €959 | +€936 | +3,982% |
| Recurring financial income | 75 | €24 | €959 | +€936 | +3,982% |
| Financial charges | 65/66B | €873 | €4,493 | +€3,620 | +415% |
| Recurring financial charges | 65 | €873 | €4,493 | +€3,620 | +415% |
| Profit (loss) for the period before taxes | 9903 | €114,552 | €210,847 | +€96,296 | +84.1% |
| Income taxes | 67/77 | €20,630 | €54,647 | +€34,016 | +165% |
| Profit (loss) for the period | 9904 | €93,922 | €156,201 | +€62,279 | +66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €93,922 | €156,201 | +€62,279 | +66.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.