A-Finance: 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-Finance
Largest movements
- Receivables within one year +€25,374
up €25,374 (+68.6%), from €36,985 to €62,359
of which Other amounts receivable: +€33,308
- Cash -€15,552
down €15,552 (-80.2%), from €19,383 to €3,831
mainly Contributions, distributions and other (-€433,011) and Debts after one year (-€46,481)
- Reserves -€409,668
down €409,668 (-100%), from €409,668 to €0
- Other debts +€408,360
up €408,360 (+19,118%), from €2,136 to €410,496
- Tax, wage and social debts +€60,133
up €60,133 (+507%), from €11,849 to €71,983
- Debts after one year -€46,481
down €46,481 (-18.0%), from €258,113 to €211,632
- Gross operating margin -€90,154
down €90,154 (-65.9%), from €136,753 to €46,599
- Taxes -€18,931
down €18,931 (-73.9%), from €25,623 to €6,692
- Financial charges -€6,783
down €6,783 (-46.1%), from €14,715 to €7,932
- Depreciation +€2,762
up €2,762 (+61.5%), from €4,488 to €7,251
- Financial income -€2,757
down €2,757 (-100.0%), from €2,758 to €1
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 | €800,073 | €807,875 | +€7,801 | +1.0% |
| Fixed assets | 21/28 | €740,247 | €740,496 | +€250 | 0.0% |
| Tangible fixed assets | 22/27 | €32,802 | €33,051 | +€250 | +0.8% |
| Furniture and vehicles | 24 | €3,592 | €7,872 | +€4,281 | +119% |
| Other tangible fixed assets | 26 | €29,210 | €25,179 | -€4,031 | -13.8% |
| Financial fixed assets | 28 | €707,445 | €707,445 | = | 0.0% |
| Current assets | 29/58 | €59,827 | €67,378 | +€7,552 | +12.6% |
| Amounts receivable within one year | 40/41 | €36,985 | €62,359 | +€25,374 | +68.6% |
| Trade receivables | 40 | €21,780 | €13,846 | -€7,934 | -36.4% |
| Other amounts receivable | 41 | €15,205 | €48,513 | +€33,308 | +219% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €19,383 | €3,831 | -€15,552 | -80.2% |
| Deferred charges and accrued income | 490/1 | €3,459 | €1,188 | -€2,271 | -65.6% |
| Total equity and liabilities | 10/49 | €800,073 | €807,875 | +€7,801 | +1.0% |
| Equity | 10/15 | €459,668 | €50,000 | -€409,668 | -89.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €409,668 | €0 | -€409,668 | -100% |
| Distributable reserves | 133 | €409,668 | €0 | -€409,668 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €340,406 | €757,875 | +€417,469 | +123% |
| Amounts payable after more than one year | 17 | €258,113 | €211,632 | -€46,481 | -18.0% |
| Financial debts | 170/4 | €258,113 | €211,632 | -€46,481 | -18.0% |
| Amounts payable within one year | 42/48 | €82,048 | €546,040 | +€463,991 | +566% |
| Current portion of amounts payable after more than one year | 42 | €54,451 | €50,033 | -€4,418 | -8.1% |
| Financial debts | 43 | €13,333 | €13,333 | = | 0.0% |
| Credit institutions | 430/8 | €13,333 | €13,333 | = | 0.0% |
| Trade debts | 44 | €278 | €194 | -€84 | -30.2% |
| Suppliers | 440/4 | €278 | €194 | -€84 | -30.2% |
| Taxes, remuneration and social security | 45 | €11,849 | €71,983 | +€60,133 | +507% |
| Taxes | 450/3 | €11,849 | €71,983 | +€60,133 | +507% |
| Other amounts payable | 47/48 | €2,136 | €410,496 | +€408,360 | +19,118% |
| Accrued charges and deferred income | 492/3 | €244 | €203 | -€41 | -16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,488 | €7,251 | +€2,762 | +61.5% |
| Other operating charges | 640/8 | €1,478 | €1,382 | -€96 | -6.5% |
| Gross operating margin | 9900 | €136,753 | €46,599 | -€90,154 | -65.9% |
| Operating profit (loss) | 9901 | €130,787 | €37,966 | -€92,820 | -71.0% |
| Financial income | 75/76B | €2,758 | €1 | -€2,757 | -100.0% |
| Recurring financial income | 75 | €2,758 | €1 | -€2,757 | -100.0% |
| Financial charges | 65/66B | €14,715 | €7,932 | -€6,783 | -46.1% |
| Recurring financial charges | 65 | €14,715 | €7,932 | -€6,783 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €118,830 | €30,035 | -€88,795 | -74.7% |
| Income taxes | 67/77 | €25,623 | €6,692 | -€18,931 | -73.9% |
| Profit (loss) for the period | 9904 | €93,207 | €23,344 | -€69,863 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €93,207 | €23,344 | -€69,863 | -75.0% |
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 1 November 2026 via checked.be.