AF DESIGN: what changed
AF DESIGN
Largest movements
- Deferred charges and accrued income +€39,484
up €39,484 (+387%), from €10,201 to €49,685
- Tangible fixed assets -€26,180
down €26,180 (-15.3%), from €171,652 to €145,472
of which Leasing and similar rights: -€22,071
- Cash +€15,388
up €15,388 (+122%), from €12,635 to €28,024
mainly Short-term financial debts (+€39,562) and Accrued charges and deferred income (+€32,250)
- Receivables within one year -€7,682
down €7,682 (-3.2%), from €242,951 to €235,268
of which Trade receivables: -€66,754
- Short-term financial debts +€39,562
up €39,562 (+30.5%), from €129,900 to €169,462
- Accrued charges and deferred income +€32,250
up €32,250 (+860%), from €3,750 to €36,000
- Trade debts -€29,104
down €29,104 (-12.0%), from €241,918 to €212,814
- Debts after one year -€22,880
down €22,880 (-17.4%), from €131,317 to €108,437
- Gross operating margin +€89,768
up €89,768 (+51.8%), from €173,220 to €262,988
- Staff costs +€86,361
up €86,361 (+69.4%), from €124,365 to €210,726
- Financial charges +€6,765
up €6,765 (+36.4%), from €18,561 to €25,326
- Depreciation +€4,906
up €4,906 (+20.7%), from €23,706 to €28,612
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €582,055 | €601,539 | +€19,484 | +3.3% |
| Fixed assets | 21/28 | €182,467 | €153,855 | -€28,612 | -15.7% |
| Intangible fixed assets | 21 | €10,815 | €8,383 | -€2,432 | -22.5% |
| Tangible fixed assets | 22/27 | €171,652 | €145,472 | -€26,180 | -15.3% |
| Furniture and vehicles | 24 | €18,365 | €14,255 | -€4,110 | -22.4% |
| Leasing and similar rights | 25 | €153,287 | €131,217 | -€22,071 | -14.4% |
| Current assets | 29/58 | €399,588 | €447,684 | +€48,096 | +12.0% |
| Stocks and contracts in progress | 3 | €133,801 | €134,707 | +€906 | +0.7% |
| Stocks | 30/36 | €27,976 | €29,150 | +€1,175 | +4.2% |
| Contracts in progress | 37 | €105,825 | €105,556 | -€269 | -0.3% |
| Amounts receivable within one year | 40/41 | €242,951 | €235,268 | -€7,682 | -3.2% |
| Trade receivables | 40 | €195,629 | €128,875 | -€66,754 | -34.1% |
| Other amounts receivable | 41 | €47,321 | €106,394 | +€59,072 | +125% |
| Cash at bank and in hand | 54/58 | €12,635 | €28,024 | +€15,388 | +122% |
| Deferred charges and accrued income | 490/1 | €10,201 | €49,685 | +€39,484 | +387% |
| Total equity and liabilities | 10/49 | €582,055 | €601,539 | +€19,484 | +3.3% |
| Equity | 10/15 | €42,272 | €36,337 | -€5,935 | -14.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €40,000 | €34,837 | -€5,163 | -12.9% |
| Distributable reserves | 133 | €40,000 | €34,837 | -€5,163 | -12.9% |
| Profit (loss) carried forward | 14 | €772 | €0 | -€772 | -100% |
| Amounts payable | 17/49 | €539,783 | €565,202 | +€25,419 | +4.7% |
| Amounts payable after more than one year | 17 | €131,317 | €108,437 | -€22,880 | -17.4% |
| Financial debts | 170/4 | €131,317 | €108,437 | -€22,880 | -17.4% |
| Amounts payable within one year | 42/48 | €404,716 | €420,765 | +€16,049 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €21,892 | €22,880 | +€988 | +4.5% |
| Financial debts | 43 | €129,900 | €169,462 | +€39,562 | +30.5% |
| Credit institutions | 430/8 | €129,900 | €169,462 | +€39,562 | +30.5% |
| Trade debts | 44 | €241,918 | €212,814 | -€29,104 | -12.0% |
| Suppliers | 440/4 | €241,918 | €212,814 | -€29,104 | -12.0% |
| Taxes, remuneration and social security | 45 | €11,007 | €15,609 | +€4,602 | +41.8% |
| Taxes | 450/3 | €7,933 | €9,260 | +€1,327 | +16.7% |
| Remuneration and social security | 454/9 | €3,074 | €6,349 | +€3,275 | +107% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €3,750 | €36,000 | +€32,250 | +860% |
| Remuneration, social security and pensions | 62 | €124,365 | €210,726 | +€86,361 | +69.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,706 | €28,612 | +€4,906 | +20.7% |
| Other operating charges | 640/8 | €3,976 | €2,535 | -€1,441 | -36.3% |
| Gross operating margin | 9900 | €173,220 | €262,988 | +€89,768 | +51.8% |
| Operating profit (loss) | 9901 | €21,173 | €21,115 | -€57 | -0.3% |
| Financial income | 75/76B | €8 | €8 | -€0 | -2.5% |
| Recurring financial income | 75 | €8 | €8 | -€0 | -2.5% |
| Financial charges | 65/66B | €18,561 | €25,326 | +€6,765 | +36.4% |
| Recurring financial charges | 65 | €18,561 | €25,326 | +€6,765 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €2,620 | -€4,203 | -€6,823 | |
| Income taxes | 67/77 | €2,260 | €1,732 | -€528 | -23.4% |
| Profit (loss) for the period | 9904 | €359 | -€5,935 | -€6,295 | |
| Profit (loss) for the period to be appropriated | 9905 | €359 | -€5,935 | -€6,295 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.