ANOAH: 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.
ANOAH
Largest movements
- Receivables within one year +€575,410
up €575,410 (+644.4%), from €89,301 to €664,711
of which Other amounts receivable: +€579,869
- Stocks and contracts +€349,482
up €349,482 (+362.3%), from €96,468 to €445,950
- Tangible fixed assets -€303,452
down €303,452 (-58.8%), from €516,506 to €213,055
of which Land and buildings: -€293,044
- Cash +€101,818
up €101,818 (+451.8%), from €22,536 to €124,354
mainly Net result for the year (+€562,667) and Debts after one year (+€469,195)
- Reserves +€562,667
up €562,667 (+264.3%), from €212,914 to €775,581
- Debts after one year +€469,195
up €469,195 (+832.2%), from €56,379 to €525,574
- Current portion of long-term debt -€222,366
down €222,366 (-94.6%), from €235,049 to €12,683
- Other debts -€95,541
no longer reported in 2025 (was €95,541)
- Gross operating margin +€718,020
up €718,020 (+493.6%), from €145,470 to €863,490
- Taxes +€232,769
up €232,769 (+718.9%), from €32,377 to €265,146
- Depreciation -€20,675
down €20,675 (-68.0%), from €30,387 to €9,713
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 | €750,859 | €1,467,366 | +€716,507 | +95.4% |
| Fixed assets | 21/28 | €537,781 | €230,330 | -€307,452 | -57.2% |
| Intangible fixed assets | 21 | €12,000 | €8,000 | -€4,000 | -33.3% |
| Tangible fixed assets | 22/27 | €516,506 | €213,055 | -€303,452 | -58.8% |
| Land and buildings | 22 | €501,842 | €208,798 | -€293,044 | -58.4% |
| Plant, machinery and equipment | 23 | €12,611 | €136 | -€12,475 | -98.9% |
| Furniture and vehicles | 24 | €2,054 | €4,121 | +€2,067 | +100.7% |
| Financial fixed assets | 28 | €9,275 | €9,275 | = | 0.0% |
| Current assets | 29/58 | €213,078 | €1,237,037 | +€1.0m | +480.6% |
| Stocks and contracts in progress | 3 | €96,468 | €445,950 | +€349,482 | +362.3% |
| Stocks | 30/36 | €96,468 | €445,950 | +€349,482 | +362.3% |
| Amounts receivable within one year | 40/41 | €89,301 | €664,711 | +€575,410 | +644.4% |
| Trade receivables | 40 | €4,458 | - | -€4,458 | |
| Other amounts receivable | 41 | €84,842 | €664,711 | +€579,869 | +683.5% |
| Cash at bank and in hand | 54/58 | €22,536 | €124,354 | +€101,818 | +451.8% |
| Deferred charges and accrued income | 490/1 | €4,773 | €2,022 | -€2,752 | -57.6% |
| Total equity and liabilities | 10/49 | €750,859 | €1,467,366 | +€716,507 | +95.4% |
| Equity | 10/15 | €335,269 | €897,936 | +€562,667 | +167.8% |
| Contributions | 10/11 | €122,355 | €122,355 | = | 0.0% |
| Reserves | 13 | €212,914 | €775,581 | +€562,667 | +264.3% |
| Distributable reserves | 133 | €212,914 | €775,581 | +€562,667 | +264.3% |
| Amounts payable | 17/49 | €415,590 | €569,430 | +€153,840 | +37.0% |
| Amounts payable after more than one year | 17 | €56,379 | €525,574 | +€469,195 | +832.2% |
| Financial debts | 170/4 | €56,379 | €525,574 | +€469,195 | +832.2% |
| Amounts payable within one year | 42/48 | €359,211 | €43,019 | -€316,192 | -88.0% |
| Current portion of amounts payable after more than one year | 42 | €235,049 | €12,683 | -€222,366 | -94.6% |
| Trade debts | 44 | €463 | €1,070 | +€608 | +131.3% |
| Suppliers | 440/4 | €463 | €1,070 | +€608 | +131.3% |
| Taxes, remuneration and social security | 45 | €28,159 | €29,266 | +€1,107 | +3.9% |
| Taxes | 450/3 | €28,159 | €29,266 | +€1,107 | +3.9% |
| Other amounts payable | 47/48 | €95,541 | - | -€95,541 | |
| Accrued charges and deferred income | 492/3 | - | €837 | +€837 | |
| Non-recurring operating income | 76A | €41,409 | €888,710 | +€847,301 | +2046.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,387 | €9,713 | -€20,675 | -68.0% |
| Other operating charges | 640/8 | €5,237 | €8,299 | +€3,062 | +58.5% |
| Gross operating margin | 9900 | €145,470 | €863,490 | +€718,020 | +493.6% |
| Operating profit (loss) | 9901 | €109,846 | €845,478 | +€735,632 | +669.7% |
| Financial income | 75/76B | €295 | €11 | -€284 | -96.4% |
| Recurring financial income | 75 | €295 | €11 | -€284 | -96.4% |
| Financial charges | 65/66B | €17,525 | €17,675 | +€150 | +0.9% |
| Recurring financial charges | 65 | €17,525 | €17,675 | +€150 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €92,615 | €827,813 | +€735,198 | +793.8% |
| Income taxes | 67/77 | €32,377 | €265,146 | +€232,769 | +718.9% |
| Profit (loss) for the period | 9904 | €60,238 | €562,667 | +€502,429 | +834.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,238 | €562,667 | +€502,429 | +834.1% |
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 5 October 2026 via checked.be.