Shareholders save Anderlecht from new red figures

OTHER For the first time since the takeover by Marc Coucke, Anderlecht has closed a financial year with positive figures. But don't stare blindly at that: that is only the result of a capital increase by the shareholders. Without it, the loss amounted to 27 million euros


The annual accounts published by the national bank show that Anderlecht made a profit of 1.3 million euros during the 2021-2022 season (fiscal year July 1, 2021 to June 30, 2022). Finally, you might say. Because in previous years, the figures always colored blood red. It was already from 2017, just before the takeover, that Anderlecht had not made a loss. 

Wage costs rise by 7 million euros
Unfortunately, that profit figure is very distorted. Operationally, Purple White made a loss of about 27 million euros last season. That's exactly the same amount as the season before. Last season, Anderlecht booked some 78 million euros in income (including transfer fees, including that of Albert Sambi Lokonga). This was offset by 106 million euros in expenses, 57 million of which were wages. The salary cost has thus increased by 7 million euros compared to the previous year.

In December last year, however, shareholders pumped 93 million euros into the club. 33.5 million of that was registered last fiscal year. This is how Anderlecht manages to clean up the red figures. With the deduction of taxes and costs, you arrive at a book profit of 1.3 million euros.

The annual report also reveals that Anderlecht is already enrolling a tranche of 27 million euros of capital still available after a fresh cash injection last year for the 2022-2023 season. Otherwise, it cannot bridge this season. The club also resold some expected revenue to an outside company in order to have this cash available now. However, according to the club, this is done at a very low interest rate, but it indicates that things remain very difficult financially.

Thank you, coronavirus
The fact remains that Anderlecht urgently needs to reverse the spiral and ensure that revenues exceed expenses. The shareholders cannot continue to contribute. Not only is that not a healthy situation, it is also not allowed by the Pro League. When clubs have negative equity over a five-year period, they are threatened with points deduction. At Anderlecht, that figure currently stands at 17 million euros in minus.

Due to the corona crisis, these rules were temporarily suspended. A good thing for Anderlecht. "Owners are allowed to cover losses with fresh capital for the time being. Otherwise Anderlecht would have long been under financial receivership," writes De Tijd.

Value dropped by 77 percent
And so the costs for main owner Marc Coucke continue to mount. In total, he already put more than 130 million euros in Anderlecht, De Tijd calculated. Whether he will ever recover that amount? The chances seem very slim. When Coucke took over the club, it was valued at 86 million euros or 42,800 euros per share. The latest capital increase was done for 10,000 euros per share. That's a whopping 77 percent less.

Confidence in relaunch, but ...
Nevertheless, at Anderlecht, people sound positive. In a reaction, the club refers, among other things, to the new business plan that came into effect on January 1. "Of course it is impossible to have everything solved by the closing of the financial year on June 30 - barely six months later. But the club is definitely working on a relaunch. Anderlecht is crawling out of the financial valley," it sounds.

And that will be necessary. Because only good sporting results, with accompanying high European revenues and transfer earnings, can turn the situation around. From the 2024-2025 season, a renewed Champions League formula will begin. The Belgian club that qualifies for it would pocket 100 million euros just like that. An amount that no capital increase can match ...