ANRO: 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.
ANRO
Largest movements
- Receivables within one year +€155,790
up €155,790 (+926.7%), from €16,811 to €172,601
- Cash -€100,758
down €100,758 (-52.3%), from €192,511 to €91,753
mainly Receivables within one year (-€155,790) and Investment in fixed assets (net) (-€55,738)
- Financial fixed assets +€55,738
up €55,738 (+16.2%), from €344,999 to €400,737
- Profit (loss) carried forward +€104,049
up €104,049 (+13.3%), from €780,584 to €884,632
- Gross operating margin +€23,782
up €23,782 (+18.0%), from €131,800 to €155,583
- Taxes +€4,685
up €4,685 (+15.5%), from €30,320 to €35,004
- Financial income -€3,977
down €3,977 (-77.2%), from €5,148 to €1,172
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 | €971,316 | €1,075,093 | +€103,777 | +10.7% |
| Fixed assets | 21/28 | €561,713 | €610,446 | +€48,733 | +8.7% |
| Tangible fixed assets | 22/27 | €216,714 | €209,709 | -€7,005 | -3.2% |
| Land and buildings | 22 | €216,262 | €209,709 | -€6,553 | -3.0% |
| Plant, machinery and equipment | 23 | €452 | - | -€452 | |
| Financial fixed assets | 28 | €344,999 | €400,737 | +€55,738 | +16.2% |
| Current assets | 29/58 | €409,603 | €464,647 | +€55,044 | +13.4% |
| Amounts receivable within one year | 40/41 | €16,811 | €172,601 | +€155,790 | +926.7% |
| Other amounts receivable | 41 | €16,811 | €172,601 | +€155,790 | +926.7% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €192,511 | €91,753 | -€100,758 | -52.3% |
| Deferred charges and accrued income | 490/1 | €281 | €293 | +€11 | +4.1% |
| Total equity and liabilities | 10/49 | €971,316 | €1,075,093 | +€103,777 | +10.7% |
| Equity | 10/15 | €961,645 | €1,065,694 | +€104,049 | +10.8% |
| Contributions | 10/11 | €164,601 | €164,601 | = | 0.0% |
| Reserves | 13 | €16,460 | €16,460 | = | 0.0% |
| Distributable reserves | 133 | €16,460 | €16,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €780,584 | €884,632 | +€104,049 | +13.3% |
| Amounts payable | 17/49 | €9,671 | €9,400 | -€271 | -2.8% |
| Amounts payable within one year | 42/48 | €9,671 | €9,400 | -€271 | -2.8% |
| Trade debts | 44 | €857 | €586 | -€271 | -31.7% |
| Suppliers | 440/4 | €857 | €586 | -€271 | -31.7% |
| Taxes, remuneration and social security | 45 | €8,814 | €8,814 | = | 0.0% |
| Taxes | 450/3 | €8,814 | €8,814 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,654 | €7,005 | +€1,351 | +23.9% |
| Other operating charges | 640/8 | €10,960 | €10,622 | -€338 | -3.1% |
| Gross operating margin | 9900 | €131,800 | €155,583 | +€23,782 | +18.0% |
| Operating profit (loss) | 9901 | €115,186 | €137,956 | +€22,770 | +19.8% |
| Financial income | 75/76B | €5,148 | €1,172 | -€3,977 | -77.2% |
| Recurring financial income | 75 | €5,148 | €1,172 | -€3,977 | -77.2% |
| Financial charges | 65/66B | €74 | €75 | +€2 | +2.1% |
| Recurring financial charges | 65 | €74 | €75 | +€2 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €120,261 | €139,053 | +€18,791 | +15.6% |
| Income taxes | 67/77 | €30,320 | €35,004 | +€4,685 | +15.5% |
| Profit (loss) for the period | 9904 | €89,942 | €104,049 | +€14,107 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,942 | €104,049 | +€14,107 | +15.7% |
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 2 October 2026 via checked.be.