ANNEM: 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.
ANNEM
Largest movements
- Stocks and contracts +€52,000
up €52,000 (+127.2%), from €40,886 to €92,886
- Receivables within one year +€32,303
up €32,303 (+14.3%), from €226,536 to €258,839
of which Trade receivables: +€17,509
- Cash -€26,670
down €26,670 (-62.4%), from €42,754 to €16,084
mainly Stocks and contracts (-€52,000) and Receivables within one year (-€32,303)
- Tangible fixed assets -€6,000
down €6,000 (-32.0%), from €18,759 to €12,759
- Advances received +€42,504
up €42,504 (+63.0%), from €67,477 to €109,981
- Trade debts +€11,234
up €11,234 (+7.2%), from €156,088 to €167,323
- Tax, wage and social debts -€7,570
down €7,570 (-29.8%), from €25,439 to €17,869
of which Remuneration and social security: -€10,558
- Profit (loss) carried forward +€6,515
up €6,515 (+8.7%), from €75,029 to €81,544
- Gross operating margin -€94,496
down €94,496 (-45.0%), from €209,952 to €115,456
- Staff costs -€80,481
down €80,481 (-46.7%), from €172,458 to €91,977
- Other operating charges +€2,128
up €2,128 (+43.5%), from €4,895 to €7,023
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 | €347,433 | €399,566 | +€52,133 | +15.0% |
| Fixed assets | 21/28 | €37,257 | €31,757 | -€5,500 | -14.8% |
| Tangible fixed assets | 22/27 | €18,759 | €12,759 | -€6,000 | -32.0% |
| Plant, machinery and equipment | 23 | €18,759 | €12,759 | -€6,000 | -32.0% |
| Financial fixed assets | 28 | €18,498 | €18,998 | +€500 | +2.7% |
| Current assets | 29/58 | €310,176 | €367,809 | +€57,633 | +18.6% |
| Stocks and contracts in progress | 3 | €40,886 | €92,886 | +€52,000 | +127.2% |
| Stocks | 30/36 | €40,886 | €92,886 | +€52,000 | +127.2% |
| Amounts receivable within one year | 40/41 | €226,536 | €258,839 | +€32,303 | +14.3% |
| Trade receivables | 40 | €218,928 | €236,437 | +€17,509 | +8.0% |
| Other amounts receivable | 41 | €7,608 | €22,402 | +€14,794 | +194.5% |
| Cash at bank and in hand | 54/58 | €42,754 | €16,084 | -€26,670 | -62.4% |
| Total equity and liabilities | 10/49 | €347,433 | €399,566 | +€52,133 | +15.0% |
| Equity | 10/15 | €86,589 | €93,104 | +€6,515 | +7.5% |
| Contributions | 10/11 | €9,700 | €9,700 | = | 0.0% |
| Contributions outside capital | 11 | €9,700 | €9,700 | = | 0.0% |
| Other | 1109/19 | €9,700 | €9,700 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,029 | €81,544 | +€6,515 | +8.7% |
| Amounts payable | 17/49 | €260,844 | €306,462 | +€45,618 | +17.5% |
| Amounts payable within one year | 42/48 | €260,844 | €306,462 | +€45,618 | +17.5% |
| Trade debts | 44 | €156,088 | €167,323 | +€11,234 | +7.2% |
| Suppliers | 440/4 | €156,088 | €167,323 | +€11,234 | +7.2% |
| Advances received on contracts in progress | 46 | €67,477 | €109,981 | +€42,504 | +63.0% |
| Taxes, remuneration and social security | 45 | €25,439 | €17,869 | -€7,570 | -29.8% |
| Taxes | 450/3 | €6,328 | €9,316 | +€2,988 | +47.2% |
| Remuneration and social security | 454/9 | €19,112 | €8,554 | -€10,558 | -55.2% |
| Other amounts payable | 47/48 | €11,840 | €11,289 | -€551 | -4.7% |
| Remuneration, social security and pensions | 62 | €172,458 | €91,977 | -€80,481 | -46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,000 | €6,000 | = | 0.0% |
| Other operating charges | 640/8 | €4,895 | €7,023 | +€2,128 | +43.5% |
| Gross operating margin | 9900 | €209,952 | €115,456 | -€94,496 | -45.0% |
| Operating profit (loss) | 9901 | €26,599 | €10,455 | -€16,144 | -60.7% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €448 | €209 | -€239 | -53.3% |
| Recurring financial charges | 65 | €448 | €209 | -€239 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €26,157 | €10,246 | -€15,911 | -60.8% |
| Income taxes | 67/77 | €5,585 | €3,731 | -€1,853 | -33.2% |
| Profit (loss) for the period | 9904 | €20,572 | €6,515 | -€14,057 | -68.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,572 | €6,515 | -€14,057 | -68.3% |
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 9 October 2026 via checked.be.