Anwaro: 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.
Anwaro
Largest movements
- Receivables within one year +€45,226
up €45,226 (+11.4%), from €396,550 to €441,776
of which Trade receivables: +€169,172
- Tangible fixed assets -€41,442
down €41,442 (-4.2%), from €980,177 to €938,735
of which Furniture and vehicles: -€31,621
- Accrued charges and deferred income -€115,674
no longer reported in 2025 (was €115,674)
- Trade debts +€80,585
up €80,585 (+50.3%), from €160,322 to €240,906
- Debts after one year +€43,412
up €43,412 (+5.7%), from €760,705 to €804,117
- Other debts +€30,239
new in 2025: €30,239
- Tax, wage and social debts -€25,617
down €25,617 (-81.5%), from €31,448 to €5,831
- Depreciation -€41,336
down €41,336 (-29.8%), from €138,578 to €97,242
- Gross operating margin -€20,560
down €20,560 (-12.5%), from €164,237 to €143,677
- Other operating charges -€3,317
down €3,317 (-43.4%), from €7,647 to €4,330
- Taxes +€3,219
up €3,219 (+191.1%), from €1,685 to €4,903
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 | €1,400,455 | €1,412,410 | +€11,955 | +0.9% |
| Fixed assets | 21/28 | €980,177 | €938,735 | -€41,442 | -4.2% |
| Tangible fixed assets | 22/27 | €980,177 | €938,735 | -€41,442 | -4.2% |
| Land and buildings | 22 | €926,156 | €916,379 | -€9,777 | -1.1% |
| Plant, machinery and equipment | 23 | €44 | - | -€44 | |
| Furniture and vehicles | 24 | €53,977 | €22,356 | -€31,621 | -58.6% |
| Current assets | 29/58 | €420,278 | €473,675 | +€53,397 | +12.7% |
| Amounts receivable within one year | 40/41 | €396,550 | €441,776 | +€45,226 | +11.4% |
| Trade receivables | 40 | €179,478 | €348,651 | +€169,172 | +94.3% |
| Other amounts receivable | 41 | €217,072 | €93,125 | -€123,947 | -57.1% |
| Cash at bank and in hand | 54/58 | €18,390 | €21,636 | +€3,246 | +17.7% |
| Deferred charges and accrued income | 490/1 | €5,338 | €10,263 | +€4,925 | +92.3% |
| Total equity and liabilities | 10/49 | €1,400,455 | €1,412,410 | +€11,955 | +0.9% |
| Equity | 10/15 | €246,443 | €243,287 | -€3,156 | -1.3% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €218,943 | €218,943 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,750 | €2,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,750 | €2,750 | = | 0.0% |
| Distributable reserves | 133 | €216,193 | €216,193 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,156 | -€3,156 | |
| Amounts payable | 17/49 | €1,154,012 | €1,169,123 | +€15,111 | +1.3% |
| Amounts payable after more than one year | 17 | €760,705 | €804,117 | +€43,412 | +5.7% |
| Financial debts | 170/4 | €760,705 | €804,117 | +€43,412 | +5.7% |
| Amounts payable within one year | 42/48 | €277,634 | €365,007 | +€87,372 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €67,128 | €70,932 | +€3,804 | +5.7% |
| Financial debts | 43 | €9,341 | €9,328 | -€13 | -0.1% |
| Credit institutions | 430/8 | €9,341 | €9,328 | -€13 | -0.1% |
| Trade debts | 44 | €160,322 | €240,906 | +€80,585 | +50.3% |
| Suppliers | 440/4 | €160,322 | €240,906 | +€80,585 | +50.3% |
| Advances received on contracts in progress | 46 | €9,395 | €7,770 | -€1,625 | -17.3% |
| Taxes, remuneration and social security | 45 | €31,448 | €5,831 | -€25,617 | -81.5% |
| Taxes | 450/3 | €31,448 | €5,831 | -€25,617 | -81.5% |
| Other amounts payable | 47/48 | - | €30,239 | +€30,239 | |
| Accrued charges and deferred income | 492/3 | €115,674 | - | -€115,674 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,578 | €97,242 | -€41,336 | -29.8% |
| Other operating charges | 640/8 | €7,647 | €4,330 | -€3,317 | -43.4% |
| Non-recurring operating charges | 66A | - | €9,873 | +€9,873 | |
| Gross operating margin | 9900 | €164,237 | €143,677 | -€20,560 | -12.5% |
| Operating profit (loss) | 9901 | €18,011 | €32,233 | +€14,221 | +79.0% |
| Financial income | 75/76B | €12 | €799 | +€787 | +6527.0% |
| Recurring financial income | 75 | €12 | €799 | +€787 | +6527.0% |
| Financial charges | 65/66B | €31,111 | €31,284 | +€172 | +0.6% |
| Recurring financial charges | 65 | €31,111 | €31,284 | +€172 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,088 | €1,748 | +€14,836 | |
| Income taxes | 67/77 | €1,685 | €4,903 | +€3,219 | +191.1% |
| Profit (loss) for the period | 9904 | -€14,773 | -€3,156 | +€11,617 | +78.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,773 | -€3,156 | +€11,617 | +78.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.