ANVERCO: 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.
ANVERCO
Largest movements
- Current investments -€144,624
down €144,624 (-26.1%), from €553,998 to €409,373
- Cash -€124,267
down €124,267 (-46.3%), from €268,299 to €144,031
mainly Receivables within one year (-€123,139) and Debts after one year (-€111,346)
- Receivables within one year +€123,139
up €123,139 (+7.9%), from €1.5m to €1.7m
of which Other amounts receivable: +€124,306
- Debts after one year -€111,346
down €111,346 (-21.0%), from €530,055 to €418,709
- Profit (loss) carried forward -€67,316
down €67,316 (-61.1%), from -€110,261 to -€177,577
- Financial income -€77,285
down €77,285 (-50.1%), from €154,391 to €77,106
- Financial charges +€32,463
up €32,463 (+65.3%), from €49,722 to €82,185
- Taxes -€8,784
down €8,784 (-38.5%), from €22,844 to €14,060
- Gross operating margin +€5,747
up €5,747 (+14.3%), from -€40,241 to -€34,493
- Other operating charges -€3,062
down €3,062 (-39.1%), from €7,822 to €4,761
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 | €3,090,813 | €2,919,307 | -€171,506 | -5.5% |
| Fixed assets | 21/28 | €613,958 | €592,179 | -€21,779 | -3.5% |
| Tangible fixed assets | 22/27 | €176,190 | €169,411 | -€6,779 | -3.8% |
| Land and buildings | 22 | €165,470 | €158,483 | -€6,988 | -4.2% |
| Plant, machinery and equipment | 23 | - | €1,533 | +€1,533 | |
| Furniture and vehicles | 24 | €8,749 | €8,410 | -€339 | -3.9% |
| Other tangible fixed assets | 26 | €1,971 | €986 | -€986 | -50.0% |
| Financial fixed assets | 28 | €437,767 | €422,767 | -€15,000 | -3.4% |
| Current assets | 29/58 | €2,476,855 | €2,327,128 | -€149,727 | -6.0% |
| Amounts receivable within one year | 40/41 | €1,549,892 | €1,673,031 | +€123,139 | +7.9% |
| Trade receivables | 40 | €8,279 | €7,111 | -€1,168 | -14.1% |
| Other amounts receivable | 41 | €1,541,614 | €1,665,920 | +€124,306 | +8.1% |
| Current investments | 50/53 | €553,998 | €409,373 | -€144,624 | -26.1% |
| Cash at bank and in hand | 54/58 | €268,299 | €144,031 | -€124,267 | -46.3% |
| Deferred charges and accrued income | 490/1 | €104,667 | €100,693 | -€3,974 | -3.8% |
| Total equity and liabilities | 10/49 | €3,090,813 | €2,919,307 | -€171,506 | -5.5% |
| Equity | 10/15 | €1,151,412 | €1,084,096 | -€67,316 | -5.8% |
| Contributions | 10/11 | €789,479 | €789,479 | = | 0.0% |
| Capital | 10 | €789,479 | €789,479 | = | 0.0% |
| Issued capital | 100 | €789,479 | €789,479 | = | 0.0% |
| Reserves | 13 | €472,194 | €472,194 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,000 | €22,000 | = | 0.0% |
| Legal reserve | 130 | €22,000 | €22,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €110,917 | €110,917 | = | 0.0% |
| Distributable reserves | 133 | €339,276 | €339,276 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€110,261 | -€177,577 | -€67,316 | -61.1% |
| Provisions and deferred taxes | 16 | €11,957 | €11,957 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €11,957 | €11,957 | = | 0.0% |
| Other liabilities and charges | 164/5 | €11,957 | €11,957 | = | 0.0% |
| Amounts payable | 17/49 | €1,927,443 | €1,823,254 | -€104,189 | -5.4% |
| Amounts payable after more than one year | 17 | €530,055 | €418,709 | -€111,346 | -21.0% |
| Financial debts | 170/4 | €530,055 | €418,709 | -€111,346 | -21.0% |
| Amounts payable within one year | 42/48 | €1,351,556 | €1,348,113 | -€3,442 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €711,507 | €713,206 | +€1,699 | +0.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,920 | €2,866 | -€2,054 | -41.7% |
| Suppliers | 440/4 | €4,920 | €2,866 | -€2,054 | -41.7% |
| Taxes, remuneration and social security | 45 | €11,207 | €0 | -€11,207 | -100% |
| Taxes | 450/3 | €11,207 | €0 | -€11,207 | -100% |
| Other amounts payable | 47/48 | €623,921 | €632,040 | +€8,120 | +1.3% |
| Accrued charges and deferred income | 492/3 | €45,832 | €56,432 | +€10,600 | +23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,739 | €8,924 | +€184 | +2.1% |
| Other operating charges | 640/8 | €7,822 | €4,761 | -€3,062 | -39.1% |
| Gross operating margin | 9900 | -€40,241 | -€34,493 | +€5,747 | +14.3% |
| Operating profit (loss) | 9901 | -€56,802 | -€48,177 | +€8,625 | +15.2% |
| Financial income | 75/76B | €154,391 | €77,106 | -€77,285 | -50.1% |
| Recurring financial income | 75 | €154,391 | €77,106 | -€77,285 | -50.1% |
| Financial charges | 65/66B | €49,722 | €82,185 | +€32,463 | +65.3% |
| Recurring financial charges | 65 | €49,722 | €82,185 | +€32,463 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €47,867 | -€53,256 | -€101,123 | |
| Income taxes | 67/77 | €22,844 | €14,060 | -€8,784 | -38.5% |
| Profit (loss) for the period | 9904 | €25,023 | -€67,316 | -€92,340 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,023 | -€67,316 | -€92,340 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.