ANTHONY: 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.
ANTHONY
Largest movements
- Tangible fixed assets -€212,457
down €212,457 (-4.1%), from €5.2m to €5.0m
of which Land and buildings: -€222,903
- Receivables within one year +€160,622
up €160,622 (+18.9%), from €847,875 to €1.0m
of which Other amounts receivable: +€158,098
- Cash +€115,600
up €115,600 (+62.7%), from €184,255 to €299,854
mainly Other debts (+€566,436) and Net result for the year (+€356,801)
- Other debts +€566,436
up €566,436 (+890.6%), from €63,603 to €630,039
- Debts after one year -€259,816
down €259,816 (-8.8%), from €3.0m to €2.7m
- Profit (loss) carried forward -€107,267
down €107,267 (-84.6%), from €126,867 to €19,599
- Trade debts -€74,165
down €74,165 (-87.8%), from €84,512 to €10,347
- Gross operating margin +€297,087
up €297,087 (+76.9%), from €386,269 to €683,356
- Other operating charges -€46,316
down €46,316 (-75.3%), from €61,525 to €15,209
- Depreciation -€8,421
down €8,421 (-3.3%), from €255,978 to €247,557
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 | €6,231,027 | €6,335,701 | +€104,673 | +1.7% |
| Fixed assets | 21/28 | €5,194,086 | €4,981,629 | -€212,457 | -4.1% |
| Tangible fixed assets | 22/27 | €5,194,086 | €4,981,629 | -€212,457 | -4.1% |
| Land and buildings | 22 | €5,143,184 | €4,920,281 | -€222,903 | -4.3% |
| Plant, machinery and equipment | 23 | €9,553 | €13,966 | +€4,413 | +46.2% |
| Furniture and vehicles | 24 | €41,349 | €47,382 | +€6,033 | +14.6% |
| Current assets | 29/58 | €1,036,942 | €1,354,072 | +€317,130 | +30.6% |
| Amounts receivable after more than one year | 29 | - | €45,000 | +€45,000 | |
| Other amounts receivable | 291 | - | €45,000 | +€45,000 | |
| Amounts receivable within one year | 40/41 | €847,875 | €1,008,497 | +€160,622 | +18.9% |
| Trade receivables | 40 | €23,690 | €26,214 | +€2,524 | +10.7% |
| Other amounts receivable | 41 | €824,185 | €982,283 | +€158,098 | +19.2% |
| Cash at bank and in hand | 54/58 | €184,255 | €299,854 | +€115,600 | +62.7% |
| Deferred charges and accrued income | 490/1 | €4,812 | €721 | -€4,091 | -85.0% |
| Total equity and liabilities | 10/49 | €6,231,027 | €6,335,701 | +€104,673 | +1.7% |
| Equity | 10/15 | €2,662,163 | €2,528,386 | -€133,777 | -5.0% |
| Contributions | 10/11 | €1,911,750 | €1,911,750 | = | 0.0% |
| Reserves | 13 | €623,546 | €597,036 | -€26,510 | -4.3% |
| Tax-exempt reserves | 132 | €552,306 | €525,796 | -€26,510 | -4.8% |
| Distributable reserves | 133 | €71,240 | €71,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,867 | €19,599 | -€107,267 | -84.6% |
| Provisions and deferred taxes | 16 | €184,102 | €175,265 | -€8,837 | -4.8% |
| Deferred taxes | 168 | €184,102 | €175,265 | -€8,837 | -4.8% |
| Amounts payable | 17/49 | €3,384,763 | €3,632,050 | +€247,287 | +7.3% |
| Amounts payable after more than one year | 17 | €2,962,204 | €2,702,388 | -€259,816 | -8.8% |
| Financial debts | 170/4 | €2,962,204 | €2,702,388 | -€259,816 | -8.8% |
| Amounts payable within one year | 42/48 | €422,559 | €929,661 | +€507,102 | +120.0% |
| Financial debts | 43 | €274,444 | €277,201 | +€2,756 | +1.0% |
| Credit institutions | 430/8 | €274,444 | €277,201 | +€2,756 | +1.0% |
| Trade debts | 44 | €84,512 | €10,347 | -€74,165 | -87.8% |
| Suppliers | 440/4 | €84,512 | €10,347 | -€74,165 | -87.8% |
| Taxes, remuneration and social security | 45 | - | €12,075 | +€12,075 | |
| Taxes | 450/3 | - | €12,075 | +€12,075 | |
| Other amounts payable | 47/48 | €63,603 | €630,039 | +€566,436 | +890.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €255,978 | €247,557 | -€8,421 | -3.3% |
| Other operating charges | 640/8 | €61,525 | €15,209 | -€46,316 | -75.3% |
| Gross operating margin | 9900 | €386,269 | €683,356 | +€297,087 | +76.9% |
| Operating profit (loss) | 9901 | €68,765 | €420,589 | +€351,824 | +511.6% |
| Financial income | 75/76B | €1,656 | €2,571 | +€915 | +55.2% |
| Recurring financial income | 75 | €1,656 | €2,571 | +€915 | +55.2% |
| Financial charges | 65/66B | €69,574 | €75,193 | +€5,619 | +8.1% |
| Recurring financial charges | 65 | €69,574 | €75,193 | +€5,619 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €847 | €347,967 | +€347,120 | +40964.4% |
| Transfer from deferred taxes | 780 | €8,837 | €8,837 | = | 0.0% |
| Income taxes | 67/77 | -€754 | €3 | +€758 | |
| Profit (loss) for the period | 9904 | €10,438 | €356,801 | +€346,362 | +3318.2% |
| Transfer from tax-exempt reserves | 789 | €26,510 | €26,510 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,948 | €383,310 | +€346,362 | +937.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.