ANNOUCK: 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.
ANNOUCK
Largest movements
- Tangible fixed assets +€444,681
up €444,681 (+26.1%), from €1.7m to €2.1m
of which Plant, machinery and equipment: +€259,314
- Cash +€106,413
up €106,413 (+782.8%), from €13,594 to €120,007
mainly Debts after one year (+€412,875) and Depreciation (+€354,321)
- Receivables within one year +€76,604
up €76,604 (+22.1%), from €346,050 to €422,654
of which Other amounts receivable: +€133,748
- Debts after one year +€412,875
up €412,875 (+39.2%), from €1.1m to €1.5m
- Other debts -€227,722
down €227,722 (-61.7%), from €369,265 to €141,543
- Reserves +€187,610
up €187,610 (+80.2%), from €233,852 to €421,462
- Current portion of long-term debt +€138,127
up €138,127 (+70.8%), from €195,028 to €333,155
- Trade debts +€91,648
up €91,648 (+88.9%), from €103,138 to €194,786
- Gross operating margin -€110,121
down €110,121 (-12.8%), from €859,061 to €748,940
- Depreciation +€73,464
up €73,464 (+26.2%), from €280,857 to €354,321
- Staff costs +€20,901
up €20,901 (+22.4%), from €93,200 to €114,101
- Financial charges +€10,658
up €10,658 (+31.3%), from €34,100 to €44,758
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 | €2,949,163 | €3,562,298 | +€613,134 | +20.8% |
| Fixed assets | 21/28 | €1,703,628 | €2,150,563 | +€446,935 | +26.2% |
| Intangible fixed assets | 21 | €1,322 | €0 | -€1,322 | -100.0% |
| Tangible fixed assets | 22/27 | €1,702,307 | €2,146,988 | +€444,681 | +26.1% |
| Land and buildings | 22 | €832,214 | €816,349 | -€15,865 | -1.9% |
| Plant, machinery and equipment | 23 | €615,274 | €874,588 | +€259,314 | +42.1% |
| Furniture and vehicles | 24 | €254,819 | €456,051 | +€201,233 | +79.0% |
| Financial fixed assets | 28 | €0 | €3,575 | +€3,575 | |
| Current assets | 29/58 | €1,245,535 | €1,411,735 | +€166,199 | +13.3% |
| Stocks and contracts in progress | 3 | €869,052 | €841,075 | -€27,978 | -3.2% |
| Stocks | 30/36 | €869,052 | €841,075 | -€27,978 | -3.2% |
| Amounts receivable within one year | 40/41 | €346,050 | €422,654 | +€76,604 | +22.1% |
| Trade receivables | 40 | €160,850 | €103,706 | -€57,144 | -35.5% |
| Other amounts receivable | 41 | €185,200 | €318,948 | +€133,748 | +72.2% |
| Current investments | 50/53 | €14,100 | €18,100 | +€4,000 | +28.4% |
| Cash at bank and in hand | 54/58 | €13,594 | €120,007 | +€106,413 | +782.8% |
| Deferred charges and accrued income | 490/1 | €2,739 | €9,899 | +€7,160 | +261.4% |
| Total equity and liabilities | 10/49 | €2,949,163 | €3,562,298 | +€613,134 | +20.8% |
| Equity | 10/15 | €1,216,427 | €1,404,037 | +€187,610 | +15.4% |
| Contributions | 10/11 | €982,575 | €982,575 | = | 0.0% |
| Reserves | 13 | €233,852 | €421,462 | +€187,610 | +80.2% |
| Distributable reserves | 133 | €233,852 | €421,462 | +€187,610 | +80.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,732,736 | €2,158,260 | +€425,524 | +24.6% |
| Amounts payable after more than one year | 17 | €1,054,584 | €1,467,459 | +€412,875 | +39.2% |
| Financial debts | 170/4 | €1,054,584 | €1,467,459 | +€412,875 | +39.2% |
| Amounts payable within one year | 42/48 | €678,153 | €680,962 | +€2,809 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €195,028 | €333,155 | +€138,127 | +70.8% |
| Trade debts | 44 | €103,138 | €194,786 | +€91,648 | +88.9% |
| Suppliers | 440/4 | €103,138 | €194,786 | +€91,648 | +88.9% |
| Taxes, remuneration and social security | 45 | €10,723 | €11,479 | +€756 | +7.1% |
| Taxes | 450/3 | €1,870 | €694 | -€1,176 | -62.9% |
| Remuneration and social security | 454/9 | €8,853 | €10,784 | +€1,932 | +21.8% |
| Other amounts payable | 47/48 | €369,265 | €141,543 | -€227,722 | -61.7% |
| Accrued charges and deferred income | 492/3 | €0 | €9,840 | +€9,840 | |
| Non-recurring operating income | 76A | - | €1,800 | +€1,800 | |
| Remuneration, social security and pensions | 62 | €93,200 | €114,101 | +€20,901 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €280,857 | €354,321 | +€73,464 | +26.2% |
| Other operating charges | 640/8 | €4,620 | €5,676 | +€1,056 | +22.9% |
| Non-recurring operating charges | 66A | €50 | €0 | -€50 | -100.0% |
| Gross operating margin | 9900 | €859,061 | €748,940 | -€110,121 | -12.8% |
| Operating profit (loss) | 9901 | €480,333 | €274,842 | -€205,492 | -42.8% |
| Financial income | 75/76B | €10,097 | €5,163 | -€4,934 | -48.9% |
| Recurring financial income | 75 | €10,097 | €5,163 | -€4,934 | -48.9% |
| Financial charges | 65/66B | €34,100 | €44,758 | +€10,658 | +31.3% |
| Recurring financial charges | 65 | €34,100 | €44,758 | +€10,658 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | €456,330 | €235,246 | -€221,084 | -48.4% |
| Income taxes | 67/77 | €48,878 | €47,636 | -€1,242 | -2.5% |
| Profit (loss) for the period | 9904 | €407,452 | €187,610 | -€219,842 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €407,452 | €187,610 | -€219,842 | -54.0% |
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 11 October 2026 via checked.be.