HET ANGELUS: 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.
HET ANGELUS
Largest movements
- Cash -€17,883
down €17,883 (-98.7%), from €18,110 to €227
mainly Advances received (-€15,544) and Tax, wage and social debts (-€13,967)
- Receivables within one year +€3,690
up €3,690 (+1.9%), from €196,336 to €200,026
of which Other amounts receivable: +€17,402
- Trade debts +€24,212
up €24,212 (+41.5%), from €58,285 to €82,498
- Advances received -€15,544
down €15,544 (-15.4%), from €101,007 to €85,463
- Tax, wage and social debts -€13,967
down €13,967 (-78.9%), from €17,703 to €3,736
- Profit (loss) carried forward -€6,447
down €6,447 (-27.5%), from €23,484 to €17,037
- Gross operating margin -€21,861
down €21,861, from €12,445 to -€9,416
- Taxes -€3,736
no longer reported in 2025 (was €3,736)
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 | €215,194 | €203,055 | -€12,139 | -5.6% |
| Current assets | 29/58 | €215,194 | €203,055 | -€12,139 | -5.6% |
| Amounts receivable within one year | 40/41 | €196,336 | €200,026 | +€3,690 | +1.9% |
| Trade receivables | 40 | €36,158 | €22,446 | -€13,712 | -37.9% |
| Other amounts receivable | 41 | €160,179 | €177,580 | +€17,402 | +10.9% |
| Cash at bank and in hand | 54/58 | €18,110 | €227 | -€17,883 | -98.7% |
| Deferred charges and accrued income | 490/1 | €748 | €2,801 | +€2,053 | +274.5% |
| Total equity and liabilities | 10/49 | €215,194 | €203,055 | -€12,139 | -5.6% |
| Equity | 10/15 | €37,744 | €31,297 | -€6,447 | -17.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,484 | €17,037 | -€6,447 | -27.5% |
| Amounts payable | 17/49 | €177,450 | €171,758 | -€5,692 | -3.2% |
| Amounts payable within one year | 42/48 | €177,056 | €171,758 | -€5,298 | -3.0% |
| Trade debts | 44 | €58,285 | €82,498 | +€24,212 | +41.5% |
| Suppliers | 440/4 | €58,285 | €82,498 | +€24,212 | +41.5% |
| Advances received on contracts in progress | 46 | €101,007 | €85,463 | -€15,544 | -15.4% |
| Taxes, remuneration and social security | 45 | €17,703 | €3,736 | -€13,967 | -78.9% |
| Taxes | 450/3 | €17,703 | €3,736 | -€13,967 | -78.9% |
| Other amounts payable | 47/48 | €61 | €61 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €394 | - | -€394 | |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €12,445 | -€9,416 | -€21,861 | |
| Operating profit (loss) | 9901 | €11,996 | -€9,878 | -€21,873 | |
| Financial income | 75/76B | €3,486 | €3,501 | +€15 | +0.4% |
| Recurring financial income | 75 | €3,486 | €3,501 | +€15 | +0.4% |
| Financial charges | 65/66B | €131 | €70 | -€61 | -46.3% |
| Recurring financial charges | 65 | €131 | €70 | -€61 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | €15,351 | -€6,447 | -€21,798 | |
| Income taxes | 67/77 | €3,736 | - | -€3,736 | |
| Profit (loss) for the period | 9904 | €11,615 | -€6,447 | -€18,062 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,615 | -€6,447 | -€18,062 |
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.