F-ANGEL: 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.
F-ANGEL
Largest movements
- Receivables within one year +€17,873
up €17,873 (+193%), from €9,270 to €27,143
of which Trade receivables: +€13,552
- Cash -€11,807
down €11,807 (-62.9%), from €18,782 to €6,975
mainly Receivables within one year (-€17,873)
- Profit (loss) carried forward +€2,695
up €2,695 (+6.9%), from -€39,244 to -€36,549
- Tax, wage and social debts +€2,352
new in 2025: €2,352
- Trade debts +€796
up €796 (+34.9%), from €2,279 to €3,075
- Gross operating margin +€9,097
up €9,097, from -€5,883 to €3,214
- Financial charges +€9,058
up €9,058, from -€8,929 to €128
of which Financial charges: +€10,573
- Financial income -€4,947
down €4,947 (-96.7%), from €5,114 to €167
of which Non-recurring financial income: -€5,114
- Other operating charges -€410
down €410 (-42.4%), from €968 to €558
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 | €29,036 | €34,879 | +€5,843 | +20.1% |
| Fixed assets | 21/28 | €0 | - | = | |
| Current assets | 29/58 | €29,036 | €34,879 | +€5,843 | +20.1% |
| Amounts receivable within one year | 40/41 | €9,270 | €27,143 | +€17,873 | +193% |
| Trade receivables | 40 | - | €13,552 | +€13,552 | |
| Other amounts receivable | 41 | €9,270 | €13,591 | +€4,321 | +46.6% |
| Cash at bank and in hand | 54/58 | €18,782 | €6,975 | -€11,807 | -62.9% |
| Deferred charges and accrued income | 490/1 | €984 | €761 | -€223 | -22.7% |
| Total equity and liabilities | 10/49 | €29,036 | €34,879 | +€5,843 | +20.1% |
| Equity | 10/15 | €26,758 | €29,452 | +€2,695 | +10.1% |
| Contributions | 10/11 | €65,434 | €65,434 | = | 0.0% |
| Capital | 10 | €65,434 | €65,434 | = | 0.0% |
| Issued capital | 100 | €65,434 | €65,434 | = | 0.0% |
| Reserves | 13 | €567 | €567 | = | 0.0% |
| Non-distributable reserves | 130/1 | €567 | €567 | = | 0.0% |
| Legal reserve | 130 | €567 | €567 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,244 | -€36,549 | +€2,695 | +6.9% |
| Amounts payable | 17/49 | €2,279 | €5,427 | +€3,148 | +138% |
| Amounts payable within one year | 42/48 | €2,279 | €5,427 | +€3,148 | +138% |
| Trade debts | 44 | €2,279 | €3,075 | +€796 | +34.9% |
| Suppliers | 440/4 | €2,279 | €3,075 | +€796 | +34.9% |
| Taxes, remuneration and social security | 45 | - | €2,352 | +€2,352 | |
| Taxes | 450/3 | - | €2,352 | +€2,352 | |
| Other operating charges | 640/8 | €968 | €558 | -€410 | -42.4% |
| Gross operating margin | 9900 | -€5,883 | €3,214 | +€9,097 | |
| Operating profit (loss) | 9901 | -€6,851 | €2,656 | +€9,507 | |
| Financial income | 75/76B | €5,114 | €167 | -€4,947 | -96.7% |
| Recurring financial income | 75 | €5,114 | €167 | -€4,947 | -96.7% |
| Non-recurring financial income | 76B | €5,114 | - | -€5,114 | |
| Financial charges | 65/66B | -€8,929 | €128 | +€9,058 | |
| Recurring financial charges | 65 | -€10,445 | €128 | +€10,573 | |
| Non-recurring financial charges | 66B | €1,516 | - | -€1,516 | |
| Profit (loss) for the period before taxes | 9903 | €7,193 | €2,695 | -€4,498 | -62.5% |
| Profit (loss) for the period | 9904 | €7,193 | €2,695 | -€4,498 | -62.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,193 | €2,695 | -€4,498 | -62.5% |
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 14 October 2026 via checked.be.