AAFLEX: 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.
AAFLEX
Largest movements
- Tangible fixed assets -€154,653
down €154,653 (-20.2%), from €764,316 to €609,663
of which Leasing and similar rights: -€130,091
- Cash -€45,777
down €45,777 (-99.2%), from €46,161 to €384
mainly Debts after one year (-€151,987) and Trade debts (-€32,774)
- Debts after one year -€151,987
down €151,987 (-43.2%), from €352,216 to €200,229
- Trade debts -€32,774
down €32,774 (-27.0%), from €121,560 to €88,786
- Current portion of long-term debt -€20,846
down €20,846 (-12.8%), from €162,646 to €141,800
- Tax, wage and social debts +€12,287
up €12,287 (+24.1%), from €50,899 to €63,186
of which Remuneration and social security: +€15,985
- Staff costs +€117,009
up €117,009 (+49.7%), from €235,387 to €352,396
- Gross operating margin +€97,194
up €97,194 (+19.9%), from €488,767 to €585,961
- Depreciation +€6,786
up €6,786 (+3.6%), from €186,611 to €193,397
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.
Cash bridge derived
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 | €1,210,419 | €1,015,437 | -€194,982 | -16.1% |
| Fixed assets | 21/28 | €806,650 | €642,513 | -€164,137 | -20.3% |
| Intangible fixed assets | 21 | €37,234 | €27,750 | -€9,484 | -25.5% |
| Tangible fixed assets | 22/27 | €764,316 | €609,663 | -€154,653 | -20.2% |
| Plant, machinery and equipment | 23 | €50,522 | €36,355 | -€14,166 | -28.0% |
| Furniture and vehicles | 24 | €47,359 | €39,753 | -€7,606 | -16.1% |
| Leasing and similar rights | 25 | €646,644 | €516,552 | -€130,091 | -20.1% |
| Other tangible fixed assets | 26 | €19,792 | €17,002 | -€2,790 | -14.1% |
| Financial fixed assets | 28 | €5,100 | €5,100 | = | 0.0% |
| Current assets | 29/58 | €403,769 | €372,924 | -€30,846 | -7.6% |
| Stocks and contracts in progress | 3 | €34,830 | €36,471 | +€1,642 | +4.7% |
| Stocks | 30/36 | €34,830 | €36,471 | +€1,642 | +4.7% |
| Amounts receivable within one year | 40/41 | €309,488 | €320,174 | +€10,686 | +3.5% |
| Trade receivables | 40 | €309,488 | €318,637 | +€9,149 | +3.0% |
| Other amounts receivable | 41 | €0 | €1,537 | +€1,537 | |
| Cash at bank and in hand | 54/58 | €46,161 | €384 | -€45,777 | -99.2% |
| Deferred charges and accrued income | 490/1 | €13,290 | €15,894 | +€2,604 | +19.6% |
| Total equity and liabilities | 10/49 | €1,210,419 | €1,015,437 | -€194,982 | -16.1% |
| Equity | 10/15 | €521,787 | €517,065 | -€4,723 | -0.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €501,500 | €496,775 | -€4,725 | -0.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €501,500 | €496,775 | -€4,725 | -0.9% |
| Profit (loss) carried forward | 14 | €287 | €290 | +€2 | +0.9% |
| Amounts payable | 17/49 | €688,632 | €498,372 | -€190,260 | -27.6% |
| Amounts payable after more than one year | 17 | €352,216 | €200,229 | -€151,987 | -43.2% |
| Financial debts | 170/4 | €352,216 | €200,229 | -€151,987 | -43.2% |
| Amounts payable within one year | 42/48 | €336,223 | €297,648 | -€38,575 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €162,646 | €141,800 | -€20,846 | -12.8% |
| Financial debts | 43 | €0 | €3,373 | +€3,373 | |
| Credit institutions | 430/8 | €0 | €3,373 | +€3,373 | |
| Trade debts | 44 | €121,560 | €88,786 | -€32,774 | -27.0% |
| Suppliers | 440/4 | €121,560 | €88,786 | -€32,774 | -27.0% |
| Taxes, remuneration and social security | 45 | €50,899 | €63,186 | +€12,287 | +24.1% |
| Taxes | 450/3 | €18,341 | €14,643 | -€3,698 | -20.2% |
| Remuneration and social security | 454/9 | €32,558 | €48,543 | +€15,985 | +49.1% |
| Other amounts payable | 47/48 | €1,118 | €504 | -€614 | -55.0% |
| Accrued charges and deferred income | 492/3 | €193 | €495 | +€303 | +157.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €235,387 | €352,396 | +€117,009 | +49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,611 | €193,397 | +€6,786 | +3.6% |
| Other operating charges | 640/8 | €4,061 | €4,580 | +€519 | +12.8% |
| Gross operating margin | 9900 | €488,767 | €585,961 | +€97,194 | +19.9% |
| Operating profit (loss) | 9901 | €62,708 | €35,587 | -€27,120 | -43.2% |
| Financial income | 75/76B | €3 | €521 | +€517 | +15442.7% |
| Recurring financial income | 75 | €3 | €521 | +€517 | +15442.7% |
| Financial charges | 65/66B | €14,431 | €12,368 | -€2,063 | -14.3% |
| Recurring financial charges | 65 | €14,431 | €12,368 | -€2,063 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €48,280 | €23,740 | -€24,540 | -50.8% |
| Income taxes | 67/77 | €11,068 | €8,463 | -€2,605 | -23.5% |
| Profit (loss) for the period | 9904 | €37,213 | €15,277 | -€21,935 | -58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,213 | €15,277 | -€21,935 | -58.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.