A&F EXPRESS: 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 EXPRESS
Largest movements
- Tangible fixed assets -€51,349
down €51,349 (-25.4%), from €202,141 to €150,792
of which Other tangible fixed assets: -€28,412
- Cash +€10,907
up €10,907 (+10.2%), from €106,442 to €117,348
mainly Depreciation (+€51,349) and Net result for the year (+€41,884)
- Debts after one year -€70,817
down €70,817 (-57.3%), from €123,651 to €52,834
- Profit (loss) carried forward +€41,884
up €41,884 (+54.8%), from €76,471 to €118,355
- Trade debts -€27,230
down €27,230 (-15.4%), from €177,392 to €150,162
- Tax, wage and social debts +€10,839
up €10,839 (+33.5%), from €32,334 to €43,173
of which Taxes: +€9,360
- Gross operating margin +€21,730
up €21,730 (+9.1%), from €240,026 to €261,757
- Staff costs -€16,853
down €16,853 (-10.7%), from €157,495 to €140,641
- Taxes +€8,588
up €8,588 (+265%), from €3,239 to €11,828
- Other operating charges -€3,393
down €3,393 (-44.5%), from €7,633 to €4,240
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 | €477,587 | €435,347 | -€42,240 | -8.8% |
| Fixed assets | 21/28 | €203,031 | €151,682 | -€51,349 | -25.3% |
| Tangible fixed assets | 22/27 | €202,141 | €150,792 | -€51,349 | -25.4% |
| Plant, machinery and equipment | 23 | €8,980 | €6,816 | -€2,164 | -24.1% |
| Furniture and vehicles | 24 | €87,847 | €67,073 | -€20,773 | -23.6% |
| Other tangible fixed assets | 26 | €105,315 | €76,902 | -€28,412 | -27.0% |
| Financial fixed assets | 28 | €890 | €890 | = | 0.0% |
| Current assets | 29/58 | €274,556 | €283,666 | +€9,110 | +3.3% |
| Stocks and contracts in progress | 3 | €72,590 | €72,590 | = | 0.0% |
| Stocks | 30/36 | €72,590 | €72,590 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €94,509 | €91,583 | -€2,925 | -3.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €94,509 | €91,583 | -€2,925 | -3.1% |
| Cash at bank and in hand | 54/58 | €106,442 | €117,348 | +€10,907 | +10.2% |
| Deferred charges and accrued income | 490/1 | €1,016 | €2,144 | +€1,128 | +111% |
| Total equity and liabilities | 10/49 | €477,587 | €435,347 | -€42,240 | -8.8% |
| Equity | 10/15 | €95,071 | €136,955 | +€41,884 | +44.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,471 | €118,355 | +€41,884 | +54.8% |
| Amounts payable | 17/49 | €382,516 | €298,393 | -€84,124 | -22.0% |
| Amounts payable after more than one year | 17 | €123,651 | €52,834 | -€70,817 | -57.3% |
| Financial debts | 170/4 | €123,651 | €52,834 | -€70,817 | -57.3% |
| Amounts payable within one year | 42/48 | €258,865 | €245,559 | -€13,306 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €37,139 | €37,072 | -€66 | -0.2% |
| Trade debts | 44 | €177,392 | €150,162 | -€27,230 | -15.4% |
| Suppliers | 440/4 | €177,392 | €150,162 | -€27,230 | -15.4% |
| Taxes, remuneration and social security | 45 | €32,334 | €43,173 | +€10,839 | +33.5% |
| Taxes | 450/3 | €5,747 | €15,107 | +€9,360 | +163% |
| Remuneration and social security | 454/9 | €26,588 | €28,066 | +€1,478 | +5.6% |
| Other amounts payable | 47/48 | €12,000 | €15,152 | +€3,152 | +26.3% |
| Non-recurring operating income | 76A | €7,046 | €0 | -€7,046 | -100% |
| Remuneration, social security and pensions | 62 | €157,495 | €140,641 | -€16,853 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,826 | €51,349 | -€477 | -0.9% |
| Other operating charges | 640/8 | €7,633 | €4,240 | -€3,393 | -44.5% |
| Gross operating margin | 9900 | €240,026 | €261,757 | +€21,730 | +9.1% |
| Operating profit (loss) | 9901 | €23,072 | €65,526 | +€42,454 | +184% |
| Financial income | 75/76B | €38 | €0 | -€38 | -99.4% |
| Recurring financial income | 75 | €38 | €0 | -€38 | -99.4% |
| Financial charges | 65/66B | €13,335 | €11,815 | -€1,521 | -11.4% |
| Recurring financial charges | 65 | €13,335 | €11,815 | -€1,521 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €9,775 | €53,712 | +€43,937 | +449% |
| Income taxes | 67/77 | €3,239 | €11,828 | +€8,588 | +265% |
| Profit (loss) for the period | 9904 | €6,535 | €41,884 | +€35,349 | +541% |
| Profit (loss) for the period to be appropriated | 9905 | €6,535 | €41,884 | +€35,349 | +541% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.