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 within one year +€217,149
up €217,149 (+64.8%), from €334,850 to €551,999
of which Other amounts receivable: +€217,416
- Current investments +€205,000
up €205,000 (+54.0%), from €379,408 to €584,408
- Cash +€102,538
up €102,538 (+76.6%), from €133,902 to €236,441
mainly Net result for the year (+€351,511) and Investment in fixed assets (net) (+€72,895)
- Financial fixed assets -€83,600
down €83,600 (-38.6%), from €216,500 to €132,900
- Reserves +€351,511
up €351,511 (+38.9%), from €903,119 to €1.3m
of which Distributable reserves: +€351,511
- Tax, wage and social debts +€43,108
up €43,108 (+30.6%), from €140,743 to €183,851
of which Taxes: +€42,870
- Current portion of long-term debt +€33,241
up €33,241 (+196%), from €16,918 to €50,159
- Gross operating margin +€176,190
up €176,190 (+46.2%), from €381,223 to €557,413
- Taxes +€57,050
up €57,050 (+53.7%), from €106,242 to €163,293
- Staff costs -€10,779
down €10,779 (-21.3%), from €50,691 to €39,912
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 | €1,090,352 | €1,529,459 | +€439,108 | +40.3% |
| Fixed assets | 21/28 | €240,730 | €155,467 | -€85,263 | -35.4% |
| Tangible fixed assets | 22/27 | €24,230 | €22,567 | -€1,663 | -6.9% |
| Plant, machinery and equipment | 23 | €5,520 | €9,415 | +€3,895 | +70.6% |
| Furniture and vehicles | 24 | €17,023 | €13,024 | -€3,999 | -23.5% |
| Other tangible fixed assets | 26 | €1,688 | €128 | -€1,560 | -92.4% |
| Financial fixed assets | 28 | €216,500 | €132,900 | -€83,600 | -38.6% |
| Current assets | 29/58 | €849,621 | €1,373,992 | +€524,371 | +61.7% |
| Amounts receivable within one year | 40/41 | €334,850 | €551,999 | +€217,149 | +64.8% |
| Trade receivables | 40 | €50,358 | €50,091 | -€267 | -0.5% |
| Other amounts receivable | 41 | €284,492 | €501,908 | +€217,416 | +76.4% |
| Current investments | 50/53 | €379,408 | €584,408 | +€205,000 | +54.0% |
| Cash at bank and in hand | 54/58 | €133,902 | €236,441 | +€102,538 | +76.6% |
| Deferred charges and accrued income | 490/1 | €1,460 | €1,144 | -€316 | -21.7% |
| Total equity and liabilities | 10/49 | €1,090,352 | €1,529,459 | +€439,108 | +40.3% |
| Equity | 10/15 | €921,669 | €1,273,180 | +€351,511 | +38.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €903,119 | €1,254,630 | +€351,511 | +38.9% |
| Non-distributable reserves | 130/1 | €23,905 | €23,905 | = | 0.0% |
| Reserves not available under the articles | 1311 | €23,905 | €23,905 | = | 0.0% |
| Distributable reserves | 133 | €879,214 | €1,230,725 | +€351,511 | +40.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €168,683 | €256,279 | +€87,597 | +51.9% |
| Amounts payable within one year | 42/48 | €168,683 | €256,279 | +€87,597 | +51.9% |
| Current portion of amounts payable after more than one year | 42 | €16,918 | €50,159 | +€33,241 | +196% |
| Trade debts | 44 | €8,574 | €19,822 | +€11,247 | +131% |
| Suppliers | 440/4 | €8,574 | €19,822 | +€11,247 | +131% |
| Taxes, remuneration and social security | 45 | €140,743 | €183,851 | +€43,108 | +30.6% |
| Taxes | 450/3 | €130,463 | €173,333 | +€42,870 | +32.9% |
| Remuneration and social security | 454/9 | €10,279 | €10,518 | +€238 | +2.3% |
| Other amounts payable | 47/48 | €2,447 | €2,447 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €50,691 | €39,912 | -€10,779 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,446 | €12,368 | +€1,922 | +18.4% |
| Other operating charges | 640/8 | €2,620 | €1,211 | -€1,408 | -53.8% |
| Gross operating margin | 9900 | €381,223 | €557,413 | +€176,190 | +46.2% |
| Operating profit (loss) | 9901 | €317,466 | €503,922 | +€186,456 | +58.7% |
| Financial income | 75/76B | €16,460 | €16,457 | -€3 | 0.0% |
| Recurring financial income | 75 | €16,460 | €16,457 | -€3 | 0.0% |
| Financial charges | 65/66B | €6,740 | €5,575 | -€1,165 | -17.3% |
| Recurring financial charges | 65 | €6,740 | €5,575 | -€1,165 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €327,186 | €514,804 | +€187,618 | +57.3% |
| Income taxes | 67/77 | €106,242 | €163,293 | +€57,050 | +53.7% |
| Profit (loss) for the period | 9904 | €220,944 | €351,511 | +€130,567 | +59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €220,944 | €351,511 | +€130,567 | +59.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.