ANVA: 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.
ANVA
Largest movements
- Stocks and contracts +€44,096
up €44,096 (+172%), from €25,672 to €69,768
- Cash +€25,936
up €25,936 (+27.4%), from €94,540 to €120,475
mainly Net result for the year (+€69,752) and Receivables within one year (+€22,172)
- Receivables within one year -€22,172
down €22,172 (-8.4%), from €265,196 to €243,024
of which Trade receivables: -€29,140
- Reserves +€68,919
up €68,919 (+25.8%), from €266,846 to €335,765
of which Distributable reserves: +€70,778
- Trade debts -€23,564
down €23,564 (-41.8%), from €56,429 to €32,866
- Gross operating margin +€29,910
up €29,910 (+37.6%), from €79,529 to €109,440
- Taxes +€8,529
up €8,529 (+32.3%), from €26,421 to €34,950
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 | €392,525 | €437,387 | +€44,862 | +11.4% |
| Fixed assets | 21/28 | €5,478 | €2,918 | -€2,560 | -46.7% |
| Tangible fixed assets | 22/27 | €5,478 | €2,918 | -€2,560 | -46.7% |
| Furniture and vehicles | 24 | €5,478 | €2,918 | -€2,560 | -46.7% |
| Current assets | 29/58 | €387,047 | €434,470 | +€47,422 | +12.3% |
| Stocks and contracts in progress | 3 | €25,672 | €69,768 | +€44,096 | +172% |
| Stocks | 30/36 | €25,672 | €69,768 | +€44,096 | +172% |
| Amounts receivable within one year | 40/41 | €265,196 | €243,024 | -€22,172 | -8.4% |
| Trade receivables | 40 | €102,950 | €73,811 | -€29,140 | -28.3% |
| Other amounts receivable | 41 | €162,246 | €169,213 | +€6,968 | +4.3% |
| Cash at bank and in hand | 54/58 | €94,540 | €120,475 | +€25,936 | +27.4% |
| Deferred charges and accrued income | 490/1 | €1,640 | €1,202 | -€438 | -26.7% |
| Total equity and liabilities | 10/49 | €392,525 | €437,387 | +€44,862 | +11.4% |
| Equity | 10/15 | €285,438 | €354,357 | +€68,919 | +24.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €266,846 | €335,765 | +€68,919 | +25.8% |
| Non-distributable reserves | 130/1 | €1,859 | €0 | -€1,859 | -100% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100% |
| Distributable reserves | 133 | €264,987 | €335,765 | +€70,778 | +26.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €107,087 | €83,030 | -€24,057 | -22.5% |
| Amounts payable within one year | 42/48 | €107,087 | €83,030 | -€24,057 | -22.5% |
| Financial debts | 43 | €13 | €0 | -€13 | -100% |
| Credit institutions | 430/8 | €13 | €0 | -€13 | -100% |
| Trade debts | 44 | €56,429 | €32,866 | -€23,564 | -41.8% |
| Suppliers | 440/4 | €56,429 | €32,866 | -€23,564 | -41.8% |
| Advances received on contracts in progress | 46 | - | €1,559 | +€1,559 | |
| Taxes, remuneration and social security | 45 | €49,812 | €47,772 | -€2,039 | -4.1% |
| Taxes | 450/3 | €49,812 | €47,772 | -€2,039 | -4.1% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,560 | €2,560 | = | 0.0% |
| Other operating charges | 640/8 | €1,468 | €2,070 | +€602 | +41.0% |
| Gross operating margin | 9900 | €79,529 | €109,440 | +€29,910 | +37.6% |
| Operating profit (loss) | 9901 | €75,501 | €104,809 | +€29,308 | +38.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €109 | €107 | -€2 | -1.9% |
| Recurring financial charges | 65 | €109 | €107 | -€2 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €75,392 | €104,702 | +€29,310 | +38.9% |
| Income taxes | 67/77 | €26,421 | €34,950 | +€8,529 | +32.3% |
| Profit (loss) for the period | 9904 | €48,971 | €69,752 | +€20,781 | +42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,971 | €69,752 | +€20,781 | +42.4% |
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 28 October 2026 via checked.be.