ACTIFAR: 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.
ACTIFAR
Largest movements
- Receivables within one year +€226,524
up €226,524 (+37.1%), from €610,907 to €837,432
of which Trade receivables: +€203,175
- Stocks and contracts -€104,999
down €104,999 (-14.0%), from €749,607 to €644,608
- Cash -€90,977
down €90,977 (-5.8%), from €1.6m to €1.5m
mainly Receivables within one year (-€226,524) and Debts after one year (-€200,000)
- Debts after one year -€200,000
no longer reported in 2025 (was €200,000)
- Other debts +€143,128
up €143,128 (+1,214%), from €11,789 to €154,917
- Trade debts +€97,625
up €97,625 (+28.7%), from €340,066 to €437,691
- Reserves +€79,000
up €79,000 (+3.8%), from €2.1m to €2.1m
- Tax, wage and social debts -€77,839
down €77,839 (-72.3%), from €107,689 to €29,850
of which Taxes: -€79,389
- Financial income -€48,448
down €48,448 (-69.8%), from €69,455 to €21,007
- Gross operating margin +€24,297
up €24,297 (+9.0%), from €270,386 to €294,683
- Taxes -€17,812
down €17,812 (-37.4%), from €47,566 to €29,753
- Staff costs +€12,870
up €12,870 (+9.0%), from €143,619 to €156,488
- Depreciation +€9,987
up €9,987 (+85.5%), from €11,676 to €21,663
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 | €3,033,477 | €3,076,040 | +€42,563 | +1.4% |
| Fixed assets | 21/28 | €89,922 | €103,099 | +€13,177 | +14.7% |
| Intangible fixed assets | 21 | €63,051 | €54,914 | -€8,138 | -12.9% |
| Tangible fixed assets | 22/27 | €8,649 | €29,714 | +€21,064 | +244% |
| Furniture and vehicles | 24 | €8,649 | €29,714 | +€21,064 | +244% |
| Financial fixed assets | 28 | €18,222 | €18,472 | +€250 | +1.4% |
| Current assets | 29/58 | €2,943,555 | €2,972,941 | +€29,387 | +1.0% |
| Stocks and contracts in progress | 3 | €749,607 | €644,608 | -€104,999 | -14.0% |
| Stocks | 30/36 | €749,607 | €644,608 | -€104,999 | -14.0% |
| Amounts receivable within one year | 40/41 | €610,907 | €837,432 | +€226,524 | +37.1% |
| Trade receivables | 40 | €583,197 | €786,372 | +€203,175 | +34.8% |
| Other amounts receivable | 41 | €27,711 | €51,060 | +€23,349 | +84.3% |
| Cash at bank and in hand | 54/58 | €1,581,878 | €1,490,902 | -€90,977 | -5.8% |
| Deferred charges and accrued income | 490/1 | €1,163 | - | -€1,163 | |
| Total equity and liabilities | 10/49 | €3,033,477 | €3,076,040 | +€42,563 | +1.4% |
| Equity | 10/15 | €2,373,933 | €2,453,583 | +€79,650 | +3.4% |
| Contributions | 10/11 | €87,600 | €87,600 | = | 0.0% |
| Reserves | 13 | €2,057,995 | €2,136,995 | +€79,000 | +3.8% |
| Distributable reserves | 133 | €2,057,995 | €2,136,995 | +€79,000 | +3.8% |
| Profit (loss) carried forward | 14 | €228,339 | €228,988 | +€650 | +0.3% |
| Amounts payable | 17/49 | €659,544 | €622,458 | -€37,086 | -5.6% |
| Amounts payable after more than one year | 17 | €200,000 | - | -€200,000 | |
| Financial debts | 170/4 | €200,000 | - | -€200,000 | |
| Amounts payable within one year | 42/48 | €459,544 | €622,458 | +€162,914 | +35.5% |
| Trade debts | 44 | €340,066 | €437,691 | +€97,625 | +28.7% |
| Suppliers | 440/4 | €340,066 | €437,691 | +€97,625 | +28.7% |
| Taxes, remuneration and social security | 45 | €107,689 | €29,850 | -€77,839 | -72.3% |
| Taxes | 450/3 | €91,483 | €12,093 | -€79,389 | -86.8% |
| Remuneration and social security | 454/9 | €16,206 | €17,757 | +€1,550 | +9.6% |
| Other amounts payable | 47/48 | €11,789 | €154,917 | +€143,128 | +1,214% |
| Remuneration, social security and pensions | 62 | €143,619 | €156,488 | +€12,870 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,676 | €21,663 | +€9,987 | +85.5% |
| Other operating charges | 640/8 | €1,739 | €2,021 | +€282 | +16.2% |
| Gross operating margin | 9900 | €270,386 | €294,683 | +€24,297 | +9.0% |
| Operating profit (loss) | 9901 | €113,352 | €114,511 | +€1,158 | +1.0% |
| Financial income | 75/76B | €69,455 | €21,007 | -€48,448 | -69.8% |
| Recurring financial income | 75 | €69,455 | €21,007 | -€48,448 | -69.8% |
| Financial charges | 65/66B | €5,924 | €14,982 | +€9,059 | +153% |
| Recurring financial charges | 65 | €5,924 | €14,982 | +€9,059 | +153% |
| Profit (loss) for the period before taxes | 9903 | €176,884 | €120,535 | -€56,349 | -31.9% |
| Income taxes | 67/77 | €47,566 | €29,753 | -€17,812 | -37.4% |
| Profit (loss) for the period | 9904 | €129,318 | €90,782 | -€38,536 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €129,318 | €90,782 | -€38,536 | -29.8% |
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 19 October 2026 via checked.be.