AF Company: 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.
AF Company
Largest movements
- Tangible fixed assets +€69,404
new in 2025: €69,404
of which Other tangible fixed assets: +€45,005
- Stocks and contracts +€58,812
new in 2025: €58,812
- Receivables within one year +€11,531
up €11,531 (+803%), from €1,436 to €12,967
of which Trade receivables: +€11,485
- Cash +€1,545
up €1,545 (+38.0%), from €4,072 to €5,617
mainly Other debts (+€133,325) and Advances received (+€8,312)
- Other debts +€133,325
up €133,325 (+50.2%), from €265,615 to €398,939
- Advances received +€8,312
new in 2025: €8,312
- Gross operating margin +€42,178
up €42,178, from -€10,296 to €31,882
- Staff costs +€23,506
new in 2025: €23,506
- Depreciation +€3,695
new in 2025: €3,695
- Other operating charges +€2,042
up €2,042 (+247%), from €828 to €2,869
- Financial charges +€368
up €368 (+196%), from €188 to €557
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 | €9,661 | €152,349 | +€142,688 | +1,477% |
| Fixed assets | 21/28 | €1,900 | €71,304 | +€69,404 | +3,653% |
| Tangible fixed assets | 22/27 | - | €69,404 | +€69,404 | |
| Plant, machinery and equipment | 23 | - | €14,241 | +€14,241 | |
| Furniture and vehicles | 24 | - | €10,158 | +€10,158 | |
| Other tangible fixed assets | 26 | - | €45,005 | +€45,005 | |
| Financial fixed assets | 28 | €1,900 | €1,900 | = | 0.0% |
| Current assets | 29/58 | €7,761 | €81,045 | +€73,283 | +944% |
| Stocks and contracts in progress | 3 | - | €58,812 | +€58,812 | |
| Stocks | 30/36 | - | €58,812 | +€58,812 | |
| Amounts receivable within one year | 40/41 | €1,436 | €12,967 | +€11,531 | +803% |
| Trade receivables | 40 | - | €11,485 | +€11,485 | |
| Other amounts receivable | 41 | €1,436 | €1,482 | +€47 | +3.3% |
| Cash at bank and in hand | 54/58 | €4,072 | €5,617 | +€1,545 | +38.0% |
| Deferred charges and accrued income | 490/1 | €2,254 | €3,648 | +€1,394 | +61.9% |
| Total equity and liabilities | 10/49 | €9,661 | €152,349 | +€142,688 | +1,477% |
| Equity | 10/15 | -€258,739 | -€257,484 | +€1,256 | +0.5% |
| Contributions | 10/11 | €6,408 | €6,408 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€267,626 | -€266,370 | +€1,256 | +0.5% |
| Amounts payable | 17/49 | €268,401 | €409,833 | +€141,432 | +52.7% |
| Amounts payable within one year | 42/48 | €268,401 | €409,833 | +€141,432 | +52.7% |
| Trade debts | 44 | €2,771 | €2,305 | -€466 | -16.8% |
| Suppliers | 440/4 | €2,771 | €2,305 | -€466 | -16.8% |
| Advances received on contracts in progress | 46 | - | €8,312 | +€8,312 | |
| Taxes, remuneration and social security | 45 | €16 | €277 | +€262 | +1,682% |
| Taxes | 450/3 | €16 | €207 | +€191 | +1,231% |
| Remuneration and social security | 454/9 | - | €70 | +€70 | |
| Other amounts payable | 47/48 | €265,615 | €398,939 | +€133,325 | +50.2% |
| Non-recurring operating income | 76A | €2,479 | - | -€2,479 | |
| Remuneration, social security and pensions | 62 | - | €23,506 | +€23,506 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,695 | +€3,695 | |
| Other operating charges | 640/8 | €828 | €2,869 | +€2,042 | +247% |
| Gross operating margin | 9900 | -€10,296 | €31,882 | +€42,178 | |
| Operating profit (loss) | 9901 | -€11,124 | €1,812 | +€12,935 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +8,500% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +8,500% |
| Financial charges | 65/66B | €188 | €557 | +€368 | +196% |
| Recurring financial charges | 65 | €188 | €557 | +€368 | +196% |
| Profit (loss) for the period before taxes | 9903 | -€11,312 | €1,256 | +€12,568 | |
| Income taxes | 67/77 | €16 | - | -€16 | |
| Profit (loss) for the period | 9904 | -€11,328 | €1,256 | +€12,583 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,328 | €1,256 | +€12,583 |
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 30 October 2026 via checked.be.