DEN ANKER: 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.
DEN ANKER
Largest movements
- Receivables within one year +€179,173
up €179,173 (+13.5%), from €1.3m to €1.5m
of which Other amounts receivable: +€150,805
- Cash -€114,896
down €114,896 (-100.0%), from €114,915 to €19
mainly Receivables within one year (-€179,173) and Other debts (-€103,055)
- Deferred charges and accrued income +€67,848
up €67,848 (+47.7%), from €142,371 to €210,219
- Current investments +€57,939
up €57,939 (+5.1%), from €1.1m to €1.2m
- Reserves +€278,400
up €278,400 (+21.7%), from €1.3m to €1.6m
- Other debts -€103,055
down €103,055 (-61.8%), from €166,778 to €63,723
- Gross operating margin +€116,156
up €116,156 (+42.3%), from €274,333 to €390,489
- Taxes +€23,349
up €23,349 (+22.7%), from €102,673 to €126,022
- Financial income -€15,350
down €15,350 (-33.2%), from €46,191 to €30,840
- Financial charges +€5,042
up €5,042 (+62.6%), from €8,048 to €13,090
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 | €2,853,276 | €3,038,206 | +€184,930 | +6.5% |
| Fixed assets | 21/28 | €24,325 | €16,762 | -€7,563 | -31.1% |
| Tangible fixed assets | 22/27 | €15,606 | €10,471 | -€5,135 | -32.9% |
| Land and buildings | 22 | €2,231 | €2,231 | = | 0.0% |
| Furniture and vehicles | 24 | €13,375 | €8,240 | -€5,135 | -38.4% |
| Financial fixed assets | 28 | €8,719 | €6,291 | -€2,428 | -27.8% |
| Current assets | 29/58 | €2,828,951 | €3,021,444 | +€192,494 | +6.8% |
| Amounts receivable after more than one year | 29 | €97,490 | €99,921 | +€2,430 | +2.5% |
| Other amounts receivable | 291 | €97,490 | €99,921 | +€2,430 | +2.5% |
| Amounts receivable within one year | 40/41 | €1,326,913 | €1,506,085 | +€179,173 | +13.5% |
| Trade receivables | 40 | - | €28,368 | +€28,368 | |
| Other amounts receivable | 41 | €1,326,913 | €1,477,718 | +€150,805 | +11.4% |
| Current investments | 50/53 | €1,147,261 | €1,205,200 | +€57,939 | +5.1% |
| Cash at bank and in hand | 54/58 | €114,915 | €19 | -€114,896 | -100.0% |
| Deferred charges and accrued income | 490/1 | €142,371 | €210,219 | +€67,848 | +47.7% |
| Total equity and liabilities | 10/49 | €2,853,276 | €3,038,206 | +€184,930 | +6.5% |
| Equity | 10/15 | €1,326,481 | €1,604,881 | +€278,400 | +21.0% |
| Contributions | 10/11 | €44,689 | €44,689 | = | 0.0% |
| Reserves | 13 | €1,281,792 | €1,560,192 | +€278,400 | +21.7% |
| Distributable reserves | 133 | €1,281,792 | €1,560,192 | +€278,400 | +21.7% |
| Provisions and deferred taxes | 16 | €1,225,379 | €1,225,379 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,225,379 | €1,225,379 | = | 0.0% |
| Major repairs and maintenance | 162 | €125,379 | €125,379 | = | 0.0% |
| Other liabilities and charges | 164/5 | €1,100,000 | €1,100,000 | = | 0.0% |
| Amounts payable | 17/49 | €301,416 | €207,946 | -€93,470 | -31.0% |
| Amounts payable within one year | 42/48 | €296,416 | €202,946 | -€93,470 | -31.5% |
| Financial debts | 43 | €83,466 | €108,669 | +€25,203 | +30.2% |
| Credit institutions | 430/8 | €83,466 | €108,669 | +€25,203 | +30.2% |
| Trade debts | 44 | €34,987 | €28,270 | -€6,717 | -19.2% |
| Suppliers | 440/4 | €34,987 | €28,270 | -€6,717 | -19.2% |
| Taxes, remuneration and social security | 45 | €11,185 | €2,284 | -€8,901 | -79.6% |
| Taxes | 450/3 | €11,185 | €2,284 | -€8,901 | -79.6% |
| Other amounts payable | 47/48 | €166,778 | €63,723 | -€103,055 | -61.8% |
| Accrued charges and deferred income | 492/3 | €5,000 | €5,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,010 | €5,135 | +€125 | +2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,496 | -€2,381 | +€3,116 | +56.7% |
| Other operating charges | 640/8 | €1,017 | €1,062 | +€45 | +4.5% |
| Gross operating margin | 9900 | €274,333 | €390,489 | +€116,156 | +42.3% |
| Operating profit (loss) | 9901 | €273,802 | €386,673 | +€112,870 | +41.2% |
| Financial income | 75/76B | €46,191 | €30,840 | -€15,350 | -33.2% |
| Recurring financial income | 75 | €46,191 | €30,840 | -€15,350 | -33.2% |
| Financial charges | 65/66B | €8,048 | €13,090 | +€5,042 | +62.6% |
| Recurring financial charges | 65 | €8,048 | €13,090 | +€5,042 | +62.6% |
| Profit (loss) for the period before taxes | 9903 | €311,944 | €404,423 | +€92,478 | +29.6% |
| Income taxes | 67/77 | €102,673 | €126,022 | +€23,349 | +22.7% |
| Profit (loss) for the period | 9904 | €209,271 | €278,400 | +€69,129 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €209,271 | €278,400 | +€69,129 | +33.0% |
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 9 October 2026 via checked.be.