ANRO: 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.
ANRO
Largest movements
- Receivables after one year -€55,442
down €55,442 (-100.0%), from €55,442 to €0
- Receivables within one year +€10,428
up €10,428 (+21.4%), from €48,661 to €59,089
- Tangible fixed assets -€7,018
down €7,018 (-6.5%), from €108,648 to €101,630
of which Plant, machinery and equipment: -€6,374
- Reserves -€55,413
down €55,413 (-11.2%), from €494,271 to €438,858
of which Distributable reserves: -€55,413
- Gross operating margin +€3,956
up €3,956 (+24.5%), from €16,116 to €20,072
- Financial income -€755
down €755 (-46.9%), from €1,611 to €856
- Taxes +€368
up €368 (+215.6%), from €171 to €539
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 | €516,944 | €462,802 | -€54,142 | -10.5% |
| Fixed assets | 21/28 | €108,648 | €101,630 | -€7,018 | -6.5% |
| Tangible fixed assets | 22/27 | €108,648 | €101,630 | -€7,018 | -6.5% |
| Land and buildings | 22 | €79,978 | €79,978 | = | 0.0% |
| Plant, machinery and equipment | 23 | €27,492 | €21,118 | -€6,374 | -23.2% |
| Furniture and vehicles | 24 | €1,179 | €534 | -€645 | -54.7% |
| Current assets | 29/58 | €408,296 | €361,172 | -€47,124 | -11.5% |
| Amounts receivable after more than one year | 29 | €55,442 | €0 | -€55,442 | -100.0% |
| Other amounts receivable | 291 | €55,442 | €0 | -€55,442 | -100.0% |
| Amounts receivable within one year | 40/41 | €48,661 | €59,089 | +€10,428 | +21.4% |
| Other amounts receivable | 41 | €48,661 | €59,089 | +€10,428 | +21.4% |
| Current investments | 50/53 | €300,000 | €300,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,531 | €1,421 | -€2,110 | -59.8% |
| Deferred charges and accrued income | 490/1 | €663 | €663 | = | 0.0% |
| Total equity and liabilities | 10/49 | €516,944 | €462,802 | -€54,142 | -10.5% |
| Equity | 10/15 | €514,300 | €458,888 | -€55,413 | -10.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €494,271 | €438,858 | -€55,413 | -11.2% |
| Non-distributable reserves | 130/1 | €300,000 | €300,000 | = | 0.0% |
| Own shares acquired | 1312 | €300,000 | €300,000 | = | 0.0% |
| Distributable reserves | 133 | €194,271 | €138,858 | -€55,413 | -28.5% |
| Profit (loss) carried forward | 14 | €30 | €30 | = | 0.0% |
| Amounts payable | 17/49 | €2,644 | €3,914 | +€1,270 | +48.0% |
| Amounts payable within one year | 42/48 | €1,514 | €2,364 | +€850 | +56.2% |
| Trade debts | 44 | €1,358 | €1,672 | +€314 | +23.1% |
| Suppliers | 440/4 | €1,358 | €1,672 | +€314 | +23.1% |
| Taxes, remuneration and social security | 45 | €157 | €693 | +€536 | +342.7% |
| Taxes | 450/3 | €157 | €693 | +€536 | +342.7% |
| Accrued charges and deferred income | 492/3 | €1,130 | €1,550 | +€420 | +37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,969 | €11,037 | +€68 | +0.6% |
| Other operating charges | 640/8 | €6,174 | €6,355 | +€180 | +2.9% |
| Non-recurring operating charges | 66A | €280 | €0 | -€280 | -100.0% |
| Gross operating margin | 9900 | €16,116 | €20,072 | +€3,956 | +24.5% |
| Operating profit (loss) | 9901 | -€1,307 | €2,681 | +€3,988 | |
| Financial income | 75/76B | €1,611 | €856 | -€755 | -46.9% |
| Recurring financial income | 75 | €1,611 | €856 | -€755 | -46.9% |
| Financial charges | 65/66B | €44 | €50 | +€7 | +15.4% |
| Recurring financial charges | 65 | €44 | €50 | +€7 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €261 | €3,486 | +€3,226 | +1237.9% |
| Income taxes | 67/77 | €171 | €539 | +€368 | +215.6% |
| Profit (loss) for the period | 9904 | €90 | €2,947 | +€2,858 | +3181.5% |
| Profit (loss) for the period to be appropriated | 9905 | €90 | €2,947 | +€2,858 | +3181.5% |
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.