ANRECO: 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.
ANRECO
Largest movements
- Tangible fixed assets -€20,225
down €20,225 (-7.8%), from €257,947 to €237,722
- Other debts +€29,070
up €29,070 (+2.4%), from €1.2m to €1.2m
- Current portion of long-term debt -€23,437
no longer reported in 2025 (was €23,437)
- Profit (loss) carried forward -€22,181
down €22,181 (-2.4%), from -€943,495 to -€965,676
- Gross operating margin -€1,463
down €1,463 (-43.4%), from €3,370 to €1,906
- Financial charges -€645
down €645 (-27.6%), from €2,334 to €1,689
- Other operating charges +€66
up €66 (+3.1%), from €2,107 to €2,173
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 | €310,085 | €290,712 | -€19,374 | -6.2% |
| Fixed assets | 21/28 | €258,096 | €237,871 | -€20,225 | -7.8% |
| Tangible fixed assets | 22/27 | €257,947 | €237,722 | -€20,225 | -7.8% |
| Land and buildings | 22 | €257,947 | €237,722 | -€20,225 | -7.8% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €51,989 | €52,841 | +€852 | +1.6% |
| Amounts receivable within one year | 40/41 | €49,291 | €49,911 | +€620 | +1.3% |
| Trade receivables | 40 | €835 | €835 | = | 0.0% |
| Other amounts receivable | 41 | €48,456 | €49,077 | +€620 | +1.3% |
| Cash at bank and in hand | 54/58 | €838 | €1,195 | +€357 | +42.6% |
| Deferred charges and accrued income | 490/1 | €1,860 | €1,735 | -€125 | -6.7% |
| Total equity and liabilities | 10/49 | €310,085 | €290,712 | -€19,374 | -6.2% |
| Equity | 10/15 | -€923,035 | -€945,216 | -€22,181 | -2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 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 | -€943,495 | -€965,676 | -€22,181 | -2.4% |
| Amounts payable | 17/49 | €1,233,120 | €1,235,928 | +€2,808 | +0.2% |
| Amounts payable after more than one year | 17 | €2,605 | - | -€2,605 | |
| Financial debts | 170/4 | €2,605 | - | -€2,605 | |
| Amounts payable within one year | 42/48 | €1,230,515 | €1,235,928 | +€5,413 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €23,437 | - | -€23,437 | |
| Trade debts | 44 | €1,470 | €1,250 | -€220 | -15.0% |
| Suppliers | 440/4 | €1,470 | €1,250 | -€220 | -15.0% |
| Other amounts payable | 47/48 | €1,205,608 | €1,234,678 | +€29,070 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,225 | €20,225 | = | 0.0% |
| Other operating charges | 640/8 | €2,107 | €2,173 | +€66 | +3.1% |
| Gross operating margin | 9900 | €3,370 | €1,906 | -€1,463 | -43.4% |
| Operating profit (loss) | 9901 | -€18,963 | -€20,492 | -€1,529 | -8.1% |
| Financial charges | 65/66B | €2,334 | €1,689 | -€645 | -27.6% |
| Recurring financial charges | 65 | €2,334 | €1,689 | -€645 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | -€21,297 | -€22,181 | -€884 | -4.2% |
| Profit (loss) for the period | 9904 | -€21,297 | -€22,181 | -€884 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,297 | -€22,181 | -€884 | -4.2% |
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 17 October 2026 via checked.be.