ANWE: 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.
ANWE
Largest movements
- Receivables within one year +€140,790
up €140,790 (+11.3%), from €1.2m to €1.4m
of which Trade receivables: +€246,945
- Tangible fixed assets -€112,441
down €112,441 (-13.6%), from €828,466 to €716,025
of which Plant, machinery and equipment: -€67,889
- Reserves +€180,790
up €180,790 (+5.3%), from €3.4m to €3.6m
of which Distributable reserves: +€380,765
- Debts after one year -€82,401
down €82,401 (-74.8%), from €110,197 to €27,797
- Gross operating margin -€43,524
down €43,524 (-4.7%), from €929,836 to €886,312
- Taxes -€18,782
down €18,782 (-24.2%), from €77,465 to €58,683
- Staff costs +€18,499
up €18,499 (+3.9%), from €479,803 to €498,302
- Depreciation +€9,571
up €9,571 (+6.9%), from €139,422 to €148,993
- Financial income -€9,449
down €9,449 (-46.1%), from €20,502 to €11,053
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 | €3,801,703 | €3,841,644 | +€39,941 | +1.1% |
| Fixed assets | 21/28 | €2,041,981 | €1,929,540 | -€112,441 | -5.5% |
| Tangible fixed assets | 22/27 | €828,466 | €716,025 | -€112,441 | -13.6% |
| Land and buildings | 22 | €565,387 | €527,137 | -€38,250 | -6.8% |
| Plant, machinery and equipment | 23 | €231,827 | €163,938 | -€67,889 | -29.3% |
| Furniture and vehicles | 24 | €31,252 | €24,950 | -€6,302 | -20.2% |
| Financial fixed assets | 28 | €1,213,515 | €1,213,515 | = | 0.0% |
| Current assets | 29/58 | €1,759,723 | €1,912,104 | +€152,382 | +8.7% |
| Amounts receivable after more than one year | 29 | €15,750 | €8,100 | -€7,650 | -48.6% |
| Other amounts receivable | 291 | €15,750 | €8,100 | -€7,650 | -48.6% |
| Stocks and contracts in progress | 3 | €131,552 | €145,340 | +€13,788 | +10.5% |
| Stocks | 30/36 | €131,552 | €145,340 | +€13,788 | +10.5% |
| Amounts receivable within one year | 40/41 | €1,245,199 | €1,385,989 | +€140,790 | +11.3% |
| Trade receivables | 40 | €926,673 | €1,173,618 | +€246,945 | +26.6% |
| Other amounts receivable | 41 | €318,526 | €212,371 | -€106,155 | -33.3% |
| Cash at bank and in hand | 54/58 | €367,222 | €372,675 | +€5,454 | +1.5% |
| Total equity and liabilities | 10/49 | €3,801,703 | €3,841,644 | +€39,941 | +1.1% |
| Equity | 10/15 | €3,469,076 | €3,649,866 | +€180,790 | +5.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €3,407,103 | €3,587,892 | +€180,790 | +5.3% |
| Tax-exempt reserves | 132 | €355,550 | €155,575 | -€199,975 | -56.2% |
| Distributable reserves | 133 | €3,051,553 | €3,432,317 | +€380,765 | +12.5% |
| Amounts payable | 17/49 | €332,627 | €191,778 | -€140,849 | -42.3% |
| Amounts payable after more than one year | 17 | €110,197 | €27,797 | -€82,401 | -74.8% |
| Financial debts | 170/4 | €110,197 | €27,797 | -€82,401 | -74.8% |
| Amounts payable within one year | 42/48 | €222,430 | €163,981 | -€58,448 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €80,936 | €82,401 | +€1,464 | +1.8% |
| Trade debts | 44 | €47,860 | €9,548 | -€38,313 | -80.1% |
| Suppliers | 440/4 | €47,860 | €9,548 | -€38,313 | -80.1% |
| Taxes, remuneration and social security | 45 | €78,065 | €58,192 | -€19,874 | -25.5% |
| Taxes | 450/3 | €32,479 | €11,440 | -€21,039 | -64.8% |
| Remuneration and social security | 454/9 | €45,586 | €46,752 | +€1,165 | +2.6% |
| Other amounts payable | 47/48 | €15,568 | €13,842 | -€1,726 | -11.1% |
| Remuneration, social security and pensions | 62 | €479,803 | €498,302 | +€18,499 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,422 | €148,993 | +€9,571 | +6.9% |
| Other operating charges | 640/8 | €6,158 | €6,524 | +€367 | +6.0% |
| Gross operating margin | 9900 | €929,836 | €886,312 | -€43,524 | -4.7% |
| Operating profit (loss) | 9901 | €304,454 | €232,493 | -€71,961 | -23.6% |
| Financial income | 75/76B | €20,502 | €11,053 | -€9,449 | -46.1% |
| Recurring financial income | 75 | €20,502 | €11,053 | -€9,449 | -46.1% |
| Financial charges | 65/66B | €5,377 | €4,073 | -€1,304 | -24.3% |
| Recurring financial charges | 65 | €5,377 | €4,073 | -€1,304 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €319,579 | €239,473 | -€80,106 | -25.1% |
| Income taxes | 67/77 | €77,465 | €58,683 | -€18,782 | -24.2% |
| Profit (loss) for the period | 9904 | €242,114 | €180,790 | -€61,324 | -25.3% |
| Transfer from tax-exempt reserves | 789 | - | €252,600 | +€252,600 | |
| Transfer to tax-exempt reserves | 689 | €84,200 | €52,625 | -€31,575 | -37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €157,914 | €380,765 | +€222,851 | +141.1% |
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 29 September 2026 via checked.be.