ANRU: 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.
ANRU
Largest movements
- Financial fixed assets -€1.3m
down €1.3m (-50.0%), from €2.5m to €1.3m
- Receivables within one year -€809,838
down €809,838 (-99.9%), from €810,619 to €781
- Cash -€448,143
down €448,143 (-46.0%), from €974,335 to €526,192
mainly Contributions, distributions and other (-€2.5m) and Debts after one year (-€21,333)
- Contributions -€1.6m
down €1.6m (-49.7%), from €3.3m to €1.6m
- Reserves -€912,663
down €912,663 (-56.3%), from €1.6m to €709,393
of which Distributable reserves: -€912,001
- Financial income -€1.5m
down €1.5m (-99.6%), from €1.5m to €6,561
- Depreciation +€6,223
up €6,223 (+51.1%), from €12,186 to €18,409
- Financial charges -€1,074
down €1,074 (-10.5%), from €10,223 to €9,149
- Gross operating margin +€946
up €946 (+9.8%), from €9,678 to €10,624
- Other operating charges -€371
down €371 (-10.4%), from €3,554 to €3,183
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 | €5,050,843 | €2,527,999 | -€2.5m | -49.9% |
| Fixed assets | 21/28 | €3,265,502 | €2,000,624 | -€1.3m | -38.7% |
| Tangible fixed assets | 22/27 | €765,002 | €750,374 | -€14,628 | -1.9% |
| Land and buildings | 22 | €296,657 | €749,088 | +€452,430 | +153% |
| Furniture and vehicles | 24 | €2,191 | €1,286 | -€905 | -41.3% |
| Assets under construction and advance payments | 27 | €466,154 | €0 | -€466,154 | -100% |
| Financial fixed assets | 28 | €2,500,500 | €1,250,250 | -€1.3m | -50.0% |
| Current assets | 29/58 | €1,785,341 | €527,375 | -€1.3m | -70.5% |
| Amounts receivable within one year | 40/41 | €810,619 | €781 | -€809,838 | -99.9% |
| Other amounts receivable | 41 | €810,619 | €781 | -€809,838 | -99.9% |
| Cash at bank and in hand | 54/58 | €974,335 | €526,192 | -€448,143 | -46.0% |
| Deferred charges and accrued income | 490/1 | €387 | €403 | +€16 | +4.1% |
| Total equity and liabilities | 10/49 | €5,050,843 | €2,527,999 | -€2.5m | -49.9% |
| Equity | 10/15 | €4,872,056 | €2,331,699 | -€2.5m | -52.1% |
| Contributions | 10/11 | €3,250,000 | €1,636,035 | -€1.6m | -49.7% |
| Reserves | 13 | €1,622,056 | €709,393 | -€912,663 | -56.3% |
| Non-distributable reserves | 130/1 | €1,334 | €671 | -€662 | -49.7% |
| Reserves not available under the articles | 1311 | €1,334 | €671 | -€662 | -49.7% |
| Distributable reserves | 133 | €1,620,723 | €708,721 | -€912,001 | -56.3% |
| Profit (loss) carried forward | 14 | - | -€13,729 | -€13,729 | |
| Amounts payable | 17/49 | €178,786 | €196,301 | +€17,514 | +9.8% |
| Amounts payable after more than one year | 17 | €151,111 | €129,778 | -€21,333 | -14.1% |
| Financial debts | 170/4 | €151,111 | €129,778 | -€21,333 | -14.1% |
| Amounts payable within one year | 42/48 | €27,675 | €64,024 | +€36,349 | +131% |
| Current portion of amounts payable after more than one year | 42 | €21,333 | €21,333 | = | 0.0% |
| Trade debts | 44 | €6,186 | €701 | -€5,485 | -88.7% |
| Suppliers | 440/4 | €6,186 | €701 | -€5,485 | -88.7% |
| Taxes, remuneration and social security | 45 | €156 | €39,644 | +€39,488 | +25,287% |
| Taxes | 450/3 | €156 | €39,644 | +€39,488 | +25,287% |
| Other amounts payable | 47/48 | - | €2,346 | +€2,346 | |
| Accrued charges and deferred income | 492/3 | - | €2,499 | +€2,499 | |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,186 | €18,409 | +€6,223 | +51.1% |
| Other operating charges | 640/8 | €3,554 | €3,183 | -€371 | -10.4% |
| Gross operating margin | 9900 | €9,678 | €10,624 | +€946 | +9.8% |
| Operating profit (loss) | 9901 | -€6,062 | -€10,968 | -€4,906 | -80.9% |
| Financial income | 75/76B | €1,479,690 | €6,561 | -€1.5m | -99.6% |
| Recurring financial income | 75 | €1,479,690 | €6,561 | -€1.5m | -99.6% |
| Financial charges | 65/66B | €10,223 | €9,149 | -€1,074 | -10.5% |
| Recurring financial charges | 65 | €10,223 | €9,149 | -€1,074 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €1,463,405 | -€13,557 | -€1.5m | |
| Income taxes | 67/77 | €156 | €172 | +€16 | +10.4% |
| Profit (loss) for the period | 9904 | €1,463,249 | -€13,729 | -€1.5m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,463,249 | -€13,729 | -€1.5m |
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 19 October 2026 via checked.be.