A.F. PAYE: 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. PAYE
Largest movements
- Cash +€32,448
up €32,448 (+10.3%), from €314,275 to €346,723
mainly Net result for the year (+€29,490) and Tax, wage and social debts (+€3,012)
- Reserves +€29,450
up €29,450 (+26.9%), from €109,290 to €138,740
of which Distributable reserves: +€29,450
- Gross operating margin +€5,150
up €5,150 (+12.6%), from €40,805 to €45,955
- Taxes +€1,829
up €1,829 (+14.7%), from €12,426 to €14,256
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 | €334,222 | €366,366 | +€32,144 | +9.6% |
| Fixed assets | 21/28 | €7,134 | €4,373 | -€2,761 | -38.7% |
| Tangible fixed assets | 22/27 | €7,134 | €4,373 | -€2,761 | -38.7% |
| Plant, machinery and equipment | 23 | €491 | €321 | -€170 | -34.7% |
| Furniture and vehicles | 24 | €6,642 | €4,052 | -€2,590 | -39.0% |
| Current assets | 29/58 | €327,089 | €361,993 | +€34,904 | +10.7% |
| Amounts receivable within one year | 40/41 | €11,034 | €13,353 | +€2,318 | +21.0% |
| Trade receivables | 40 | €9,223 | €9,582 | +€359 | +3.9% |
| Other amounts receivable | 41 | €1,812 | €3,771 | +€1,959 | +108% |
| Cash at bank and in hand | 54/58 | €314,275 | €346,723 | +€32,448 | +10.3% |
| Deferred charges and accrued income | 490/1 | €1,779 | €1,917 | +€138 | +7.7% |
| Total equity and liabilities | 10/49 | €334,222 | €366,366 | +€32,144 | +9.6% |
| Equity | 10/15 | €329,061 | €358,551 | +€29,490 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,290 | €138,740 | +€29,450 | +26.9% |
| Non-distributable reserves | 130/1 | €10,590 | €10,590 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,590 | €10,590 | = | 0.0% |
| Distributable reserves | 133 | €98,700 | €128,150 | +€29,450 | +29.8% |
| Profit (loss) carried forward | 14 | €201,171 | €201,211 | +€40 | 0.0% |
| Amounts payable | 17/49 | €5,162 | €7,815 | +€2,653 | +51.4% |
| Amounts payable within one year | 42/48 | €5,162 | €7,815 | +€2,653 | +51.4% |
| Trade debts | 44 | €309 | €48 | -€261 | -84.5% |
| Suppliers | 440/4 | €309 | €48 | -€261 | -84.5% |
| Taxes, remuneration and social security | 45 | €4,721 | €7,732 | +€3,012 | +63.8% |
| Taxes | 450/3 | €4,721 | €7,732 | +€3,012 | +63.8% |
| Other amounts payable | 47/48 | €131 | €34 | -€97 | -73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,695 | €2,761 | +€66 | +2.4% |
| Other operating charges | 640/8 | €706 | €720 | +€14 | +2.0% |
| Gross operating margin | 9900 | €40,805 | €45,955 | +€5,150 | +12.6% |
| Operating profit (loss) | 9901 | €37,404 | €42,474 | +€5,070 | +13.6% |
| Financial income | 75/76B | €1,439 | €1,479 | +€41 | +2.8% |
| Recurring financial income | 75 | €1,439 | €1,479 | +€41 | +2.8% |
| Financial charges | 65/66B | €139 | €207 | +€68 | +49.0% |
| Recurring financial charges | 65 | €139 | €207 | +€68 | +49.0% |
| Profit (loss) for the period before taxes | 9903 | €38,704 | €43,746 | +€5,043 | +13.0% |
| Income taxes | 67/77 | €12,426 | €14,256 | +€1,829 | +14.7% |
| Profit (loss) for the period | 9904 | €26,277 | €29,490 | +€3,213 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,277 | €29,490 | +€3,213 | +12.2% |
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 21 October 2026 via checked.be.