AF CONSTRUCTION: 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.
AF CONSTRUCTION
Largest movements
- Cash -€123,349
down €123,349 (-97.8%), from €126,115 to €2,766
mainly Receivables within one year (-€104,137) and Current portion of long-term debt (-€50,000)
- Receivables within one year +€104,137
up €104,137 (+67.1%), from €155,223 to €259,360
of which Other amounts receivable: +€152,454
- Deferred charges and accrued income -€5,251
no longer reported in 2025 (was €5,251)
- Current portion of long-term debt -€50,000
no longer reported in 2025 (was €50,000)
- Profit (loss) carried forward +€36,804
up €36,804 (+103.7%), from €35,499 to €72,304
- Trade debts -€27,869
down €27,869 (-15.8%), from €176,120 to €148,251
- Tax, wage and social debts +€15,389
up €15,389 (+226.9%), from €6,783 to €22,172
of which Taxes: +€13,754
- Other debts +€3,997
up €3,997 (+894.6%), from €447 to €4,444
- Gross operating margin +€67,424
up €67,424 (+69.0%), from €97,654 to €165,078
- Staff costs +€44,005
up €44,005 (+64.5%), from €68,209 to €112,214
- Taxes +€8,034
up €8,034 (+140.4%), from €5,720 to €13,754
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 | €288,849 | €267,171 | -€21,678 | -7.5% |
| Fixed assets | 21/28 | €2,260 | €5,045 | +€2,785 | +123.2% |
| Tangible fixed assets | 22/27 | €1,760 | €4,545 | +€2,785 | +158.2% |
| Plant, machinery and equipment | 23 | €1,760 | €4,545 | +€2,785 | +158.2% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €286,589 | €262,126 | -€24,463 | -8.5% |
| Amounts receivable within one year | 40/41 | €155,223 | €259,360 | +€104,137 | +67.1% |
| Trade receivables | 40 | €55,678 | €7,360 | -€48,317 | -86.8% |
| Other amounts receivable | 41 | €99,546 | €252,000 | +€152,454 | +153.1% |
| Cash at bank and in hand | 54/58 | €126,115 | €2,766 | -€123,349 | -97.8% |
| Deferred charges and accrued income | 490/1 | €5,251 | - | -€5,251 | |
| Total equity and liabilities | 10/49 | €288,849 | €267,171 | -€21,678 | -7.5% |
| Equity | 10/15 | €55,499 | €92,304 | +€36,804 | +66.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,499 | €72,304 | +€36,804 | +103.7% |
| Amounts payable | 17/49 | €233,350 | €174,867 | -€58,482 | -25.1% |
| Amounts payable within one year | 42/48 | €233,350 | €174,867 | -€58,482 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €176,120 | €148,251 | -€27,869 | -15.8% |
| Suppliers | 440/4 | €176,120 | €148,251 | -€27,869 | -15.8% |
| Taxes, remuneration and social security | 45 | €6,783 | €22,172 | +€15,389 | +226.9% |
| Taxes | 450/3 | €5,720 | €19,475 | +€13,754 | +240.4% |
| Remuneration and social security | 454/9 | €1,063 | €2,698 | +€1,635 | +153.9% |
| Other amounts payable | 47/48 | €447 | €4,444 | +€3,997 | +894.6% |
| Remuneration, social security and pensions | 62 | €68,209 | €112,214 | +€44,005 | +64.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,026 | €2,215 | +€1,189 | +115.9% |
| Other operating charges | 640/8 | €285 | - | -€285 | |
| Gross operating margin | 9900 | €97,654 | €165,078 | +€67,424 | +69.0% |
| Operating profit (loss) | 9901 | €28,134 | €50,648 | +€22,515 | +80.0% |
| Financial income | 75/76B | €1 | €180 | +€179 | +24875.0% |
| Recurring financial income | 75 | €1 | €180 | +€179 | +24875.0% |
| Financial charges | 65/66B | €248 | €270 | +€22 | +8.8% |
| Recurring financial charges | 65 | €248 | €270 | +€22 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €27,886 | €50,558 | +€22,672 | +81.3% |
| Income taxes | 67/77 | €5,720 | €13,754 | +€8,034 | +140.4% |
| Profit (loss) for the period | 9904 | €22,166 | €36,804 | +€14,638 | +66.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,166 | €36,804 | +€14,638 | +66.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.