A&F: 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.
A&F
Largest movements
- Cash +€235,750
up €235,750 (+93.7%), from €251,680 to €487,430
mainly Accrued charges and deferred income (+€259,838) and Net result for the year (+€90,971)
- Receivables within one year -€59,770
down €59,770 (-6.7%), from €892,686 to €832,915
of which Other amounts receivable: -€69,969
- Accrued charges and deferred income +€259,838
up €259,838 (+121%), from €214,700 to €474,538
- Trade debts -€158,610
down €158,610 (-24.5%), from €646,998 to €488,387
- Profit (loss) carried forward +€90,971
up €90,971 (+211%), from €43,214 to €134,185
- Other debts -€24,362
down €24,362 (-70.0%), from €34,816 to €10,454
- Gross operating margin -€44,135
down €44,135 (-23.1%), from €191,050 to €146,915
- Taxes -€39,450
down €39,450 (-67.8%), from €58,159 to €18,709
- Write-downs +€18,818
new in 2024: €18,818
- Staff costs -€9,668
down €9,668 (-67.8%), from €14,269 to €4,601
- Other operating charges -€3,446
down €3,446 (-69.9%), from €4,932 to €1,486
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,178,550 | €1,354,481 | +€175,931 | +14.9% |
| Fixed assets | 21/28 | €34,185 | €27,945 | -€6,240 | -18.3% |
| Tangible fixed assets | 22/27 | €34,185 | €27,945 | -€6,240 | -18.3% |
| Plant, machinery and equipment | 23 | - | €1,979 | +€1,979 | |
| Furniture and vehicles | 24 | €34,185 | €25,966 | -€8,219 | -24.0% |
| Current assets | 29/58 | €1,144,365 | €1,326,536 | +€182,171 | +15.9% |
| Amounts receivable within one year | 40/41 | €892,686 | €832,915 | -€59,770 | -6.7% |
| Trade receivables | 40 | €304,433 | €314,631 | +€10,198 | +3.3% |
| Other amounts receivable | 41 | €588,253 | €518,284 | -€69,969 | -11.9% |
| Cash at bank and in hand | 54/58 | €251,680 | €487,430 | +€235,750 | +93.7% |
| Deferred charges and accrued income | 490/1 | - | €6,191 | +€6,191 | |
| Total equity and liabilities | 10/49 | €1,178,550 | €1,354,481 | +€175,931 | +14.9% |
| Equity | 10/15 | €219,587 | €310,558 | +€90,971 | +41.4% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €162,113 | €162,113 | = | 0.0% |
| Distributable reserves | 133 | €162,113 | €162,113 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,214 | €134,185 | +€90,971 | +211% |
| Amounts payable | 17/49 | €958,964 | €1,043,924 | +€84,960 | +8.9% |
| Amounts payable within one year | 42/48 | €744,264 | €569,386 | -€174,878 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €3,052 | - | -€3,052 | |
| Trade debts | 44 | €646,998 | €488,387 | -€158,610 | -24.5% |
| Suppliers | 440/4 | €646,998 | €488,387 | -€158,610 | -24.5% |
| Taxes, remuneration and social security | 45 | €59,398 | €70,545 | +€11,147 | +18.8% |
| Taxes | 450/3 | €53,307 | €70,545 | +€17,237 | +32.3% |
| Remuneration and social security | 454/9 | €6,091 | - | -€6,091 | |
| Other amounts payable | 47/48 | €34,816 | €10,454 | -€24,362 | -70.0% |
| Accrued charges and deferred income | 492/3 | €214,700 | €474,538 | +€259,838 | +121% |
| Non-recurring operating income | 76A | €791 | - | -€791 | |
| Remuneration, social security and pensions | 62 | €14,269 | €4,601 | -€9,668 | -67.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,754 | €12,554 | +€1,800 | +16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €18,818 | +€18,818 | |
| Other operating charges | 640/8 | €4,932 | €1,486 | -€3,446 | -69.9% |
| Gross operating margin | 9900 | €191,050 | €146,915 | -€44,135 | -23.1% |
| Operating profit (loss) | 9901 | €161,095 | €109,456 | -€51,639 | -32.1% |
| Financial income | 75/76B | - | €1,206 | +€1,206 | |
| Recurring financial income | 75 | - | €1,206 | +€1,206 | |
| Financial charges | 65/66B | €4,253 | €981 | -€3,272 | -76.9% |
| Recurring financial charges | 65 | €4,253 | €981 | -€3,272 | -76.9% |
| Profit (loss) for the period before taxes | 9903 | €156,842 | €109,680 | -€47,161 | -30.1% |
| Income taxes | 67/77 | €58,159 | €18,709 | -€39,450 | -67.8% |
| Profit (loss) for the period | 9904 | €98,683 | €90,971 | -€7,712 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €98,683 | €90,971 | -€7,712 | -7.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.