ANTHONY PUT: 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.
ANTHONY PUT
Largest movements
- Cash -€337,250
down €337,250 (-72.9%), from €462,822 to €125,573
mainly Current investments (-€324,000) and Contributions, distributions and other (-€190,327)
- Current investments +€324,000
up €324,000 (+2,025%), from €16,000 to €340,000
- Reserves -€29,230
down €29,230 (-4.2%), from €690,094 to €660,865
- Gross operating margin +€41,362
up €41,362 (+47.6%), from €86,956 to €128,318
- Taxes +€14,010
up €14,010 (+46.4%), from €30,185 to €44,194
- Financial income +€13,505
up €13,505 (+20.0%), from €67,420 to €80,925
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 | €710,527 | €689,035 | -€21,492 | -3.0% |
| Fixed assets | 21/28 | €211,301 | €209,298 | -€2,003 | -0.9% |
| Tangible fixed assets | 22/27 | €11,301 | €9,298 | -€2,003 | -17.7% |
| Plant, machinery and equipment | 23 | €9,763 | €8,293 | -€1,470 | -15.1% |
| Furniture and vehicles | 24 | €1,538 | €1,005 | -€533 | -34.7% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €499,226 | €479,738 | -€19,488 | -3.9% |
| Amounts receivable within one year | 40/41 | €2,976 | €278 | -€2,698 | -90.7% |
| Other amounts receivable | 41 | €2,976 | €278 | -€2,698 | -90.7% |
| Current investments | 50/53 | €16,000 | €340,000 | +€324,000 | +2,025% |
| Cash at bank and in hand | 54/58 | €462,822 | €125,573 | -€337,250 | -72.9% |
| Deferred charges and accrued income | 490/1 | €17,428 | €13,887 | -€3,541 | -20.3% |
| Total equity and liabilities | 10/49 | €710,527 | €689,035 | -€21,492 | -3.0% |
| Equity | 10/15 | €702,494 | €673,265 | -€29,230 | -4.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €690,094 | €660,865 | -€29,230 | -4.2% |
| Distributable reserves | 133 | €690,094 | €660,865 | -€29,230 | -4.2% |
| Amounts payable | 17/49 | €8,032 | €15,770 | +€7,738 | +96.3% |
| Amounts payable within one year | 42/48 | €7,663 | €15,770 | +€8,107 | +106% |
| Trade debts | 44 | €559 | €1,981 | +€1,422 | +254% |
| Suppliers | 440/4 | €559 | €1,981 | +€1,422 | +254% |
| Taxes, remuneration and social security | 45 | €6,085 | €12,794 | +€6,710 | +110% |
| Taxes | 450/3 | €6,085 | €12,794 | +€6,710 | +110% |
| Other amounts payable | 47/48 | €1,019 | €995 | -€24 | -2.4% |
| Accrued charges and deferred income | 492/3 | €370 | - | -€370 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,688 | €2,003 | +€315 | +18.6% |
| Other operating charges | 640/8 | €1,070 | €1,030 | -€39 | -3.7% |
| Non-recurring operating charges | 66A | €4,232 | - | -€4,232 | |
| Gross operating margin | 9900 | €86,956 | €128,318 | +€41,362 | +47.6% |
| Operating profit (loss) | 9901 | €79,966 | €125,285 | +€45,318 | +56.7% |
| Financial income | 75/76B | €67,420 | €80,925 | +€13,505 | +20.0% |
| Recurring financial income | 75 | €67,420 | €80,925 | +€13,505 | +20.0% |
| Financial charges | 65/66B | €1,268 | €918 | -€350 | -27.6% |
| Recurring financial charges | 65 | €1,268 | €918 | -€350 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €146,118 | €205,292 | +€59,174 | +40.5% |
| Income taxes | 67/77 | €30,185 | €44,194 | +€14,010 | +46.4% |
| Profit (loss) for the period | 9904 | €115,933 | €161,098 | +€45,164 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €115,933 | €161,098 | +€45,164 | +39.0% |
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 25 October 2026 via checked.be.