A.forall Development: what changed
Two fiscal 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.
What changed
A.forall Development
NACE 64.210, Activities of holding companies
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€12.3m
2023 · €2.2m+€10.1m
Equity
€39.3m
2023 · €51.9m-€12.7m
Cash
€1.1m
2023 · €272,379+€833,656
Balance sheet total
€61.2m
2023 · €73.7m-€12.6m
Largest movements
Assets
- Receivables within one year -€14.4m
down €14.4m (-73.1%), from €19.7m to €5.3m
of which Other amounts receivable: -€14.3m
- Intangible fixed assets +€1.1m
up €1.1m (+12.3%), from €9.3m to €10.5m
- Cash +€833,656
up €833,656 (+306.1%), from €272,379 to €1.1m
mainly Receivables within one year (+€14.4m) and Net result for the year (+€12.3m)
Equity and liabilities
- Profit (loss) carried forward -€12.7m
down €12.7m (-41.7%), from €30.4m to €17.7m
Income statement
- Financial income +€11.1m
up €11.1m (+1462.9%), from €759,622 to €11.9m
- Taxes +€420,598
new in 2024: €420,598
- Financial charges +€405,861
up €405,861 (+45.1%), from €898,959 to €1.3m
- Depreciation +€170,169
up €170,169 (+16.6%), from €1.0m to €1.2m
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.
Result 2023
€2.2m
Gross operating margin
-€29,100
Staff costs
+€51,246
Depreciation
-€170,169
Write-downs
-€5,601
Other operating charges
-€8,303
Other operating items
-€20,000
Financial income
+€11.1m
Financial charges
-€405,861
Taxes
-€420,598
Result 2024
€12.3m
Cash bridge derived
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.
From operations
+€28.2m
Investment
-€2.3m
Financing
-€25.0m
Cash 2023
€272,379
From operations (derived)
+€28.2m
Net result for the year
+€12.3m
Depreciation
+€1.2m
Receivables within one year
+€14.4m
Deferred charges and accrued income
+€91,867
Trade debts
-€308,139
Smaller working-capital items
-€47,309
Other debts
+€466,646
Investment (derived)
-€2.3m
Investment in fixed assets (net)
-€2.3m
Financing
-€25.0m
Contributions, distributions and other
-€25.0m
Cash 2024
€1.1m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,725,402 | €61,169,353 | -€12.6m | -17.0% |
| Fixed assets | 21/28 | €53,504,478 | €54,635,952 | +€1.1m | +2.1% |
| Intangible fixed assets | 21 | €9,348,493 | €10,496,103 | +€1.1m | +12.3% |
| Tangible fixed assets | 22/27 | €46,146 | €30,011 | -€16,135 | -35.0% |
| Plant, machinery and equipment | 23 | €34,267 | €23,062 | -€11,205 | -32.7% |
| Other tangible fixed assets | 26 | €11,879 | €6,949 | -€4,930 | -41.5% |
| Financial fixed assets | 28 | €44,109,839 | €44,109,839 | = | 0.0% |
| Current assets | 29/58 | €20,220,924 | €6,533,401 | -€13.7m | -67.7% |
| Amounts receivable within one year | 40/41 | €19,746,447 | €5,317,135 | -€14.4m | -73.1% |
| Trade receivables | 40 | €3,482,260 | €3,397,514 | -€84,746 | -2.4% |
| Other amounts receivable | 41 | €16,264,187 | €1,919,621 | -€14.3m | -88.2% |
| Cash at bank and in hand | 54/58 | €272,379 | €1,106,034 | +€833,656 | +306.1% |
| Deferred charges and accrued income | 490/1 | €202,098 | €110,231 | -€91,867 | -45.5% |
| Total equity and liabilities | 10/49 | €73,725,402 | €61,169,353 | -€12.6m | -17.0% |
| Equity | 10/15 | €51,925,675 | €39,258,427 | -€12.7m | -24.4% |
| Contributions | 10/11 | €19,636,620 | €19,636,620 | = | 0.0% |
| Capital | 10 | €19,216,453 | €19,216,453 | = | 0.0% |
| Issued capital | 100 | €19,216,453 | €19,216,453 | = | 0.0% |
| Outside capital | 11 | €420,166 | €420,166 | = | 0.0% |
| Share premium | 1100/10 | €420,166 | €420,166 | = | 0.0% |
| Reserves | 13 | €1,921,645 | €1,921,645 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,921,645 | €1,921,645 | = | 0.0% |
| Legal reserve | 130 | €1,921,645 | €1,921,645 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,367,410 | €17,700,162 | -€12.7m | -41.7% |
| Amounts payable | 17/49 | €21,799,727 | €21,910,926 | +€111,199 | +0.5% |
| Amounts payable within one year | 42/48 | €21,748,517 | €21,910,926 | +€162,409 | +0.7% |
| Trade debts | 44 | €3,477,095 | €3,168,957 | -€308,139 | -8.9% |
| Suppliers | 440/4 | €3,477,095 | €3,168,957 | -€308,139 | -8.9% |
| Taxes, remuneration and social security | 45 | €389,894 | €393,796 | +€3,902 | +1.0% |
| Taxes | 450/3 | €8,762 | €53,113 | +€44,351 | +506.2% |
| Remuneration and social security | 454/9 | €381,132 | €340,683 | -€40,450 | -10.6% |
| Other amounts payable | 47/48 | €17,881,528 | €18,348,174 | +€466,646 | +2.6% |
| Accrued charges and deferred income | 492/3 | €51,210 | - | -€51,210 | |
| Non-recurring operating income | 76A | €216,250 | €14,586 | -€201,664 | -93.3% |
| Remuneration, social security and pensions | 62 | €1,884,220 | €1,832,974 | -€51,246 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,026,624 | €1,196,792 | +€170,169 | +16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,601 | +€5,601 | |
| Other operating charges | 640/8 | - | €8,303 | +€8,303 | |
| Non-recurring operating charges | 66A | - | €20,000 | +€20,000 | |
| Gross operating margin | 9900 | €5,278,663 | €5,249,563 | -€29,100 | -0.6% |
| Operating profit (loss) | 9901 | €2,367,820 | €2,185,893 | -€181,927 | -7.7% |
| Financial income | 75/76B | €759,622 | €11,872,278 | +€11.1m | +1462.9% |
| Recurring financial income | 75 | €759,622 | €11,872,278 | +€11.1m | +1462.9% |
| Financial charges | 65/66B | €898,959 | €1,304,820 | +€405,861 | +45.1% |
| Recurring financial charges | 65 | €898,959 | €1,304,820 | +€405,861 | +45.1% |
| Profit (loss) for the period before taxes | 9903 | €2,228,483 | €12,753,351 | +€10.5m | +472.3% |
| Income taxes | 67/77 | - | €420,598 | +€420,598 | |
| Profit (loss) for the period | 9904 | €2,228,483 | €12,332,753 | +€10.1m | +453.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,228,483 | €12,332,753 | +€10.1m | +453.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.