AF LOCATION: 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 LOCATION
Largest movements
- Receivables within one year -€64,293
down €64,293 (-51.7%), from €124,413 to €60,120
of which Trade receivables: -€84,671
- Tangible fixed assets -€56,012
down €56,012 (-27.4%), from €204,262 to €148,250
of which Furniture and vehicles: -€59,852
- Cash +€14,895
up €14,895 (+244.5%), from €6,092 to €20,987
mainly Depreciation (+€115,803) and Receivables within one year (+€64,293)
- Deferred charges and accrued income -€4,101
down €4,101 (-81.9%), from €5,010 to €909
- Other debts -€134,692
down €134,692 (-95.5%), from €141,109 to €6,417
- Profit (loss) carried forward +€27,943
up €27,943 (+315.1%), from €8,867 to €36,810
- Debts after one year -€20,898
down €20,898 (-19.9%), from €105,198 to €84,299
- Current portion of long-term debt +€20,886
up €20,886 (+30.8%), from €67,820 to €88,706
- Accrued charges and deferred income -€4,634
down €4,634 (-76.4%), from €6,068 to €1,434
- Gross operating margin +€30,760
up €30,760 (+23.3%), from €131,790 to €162,550
- Depreciation +€21,536
up €21,536 (+22.8%), from €94,267 to €115,803
- Financial charges -€8,496
down €8,496 (-50.2%), from €16,942 to €8,445
of which Non-recurring financial charges: -€8,561
- Taxes +€5,255
up €5,255 (+156.7%), from €3,353 to €8,609
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 | €359,812 | €250,301 | -€109,511 | -30.4% |
| Fixed assets | 21/28 | €224,297 | €168,285 | -€56,012 | -25.0% |
| Tangible fixed assets | 22/27 | €204,262 | €148,250 | -€56,012 | -27.4% |
| Plant, machinery and equipment | 23 | - | €3,840 | +€3,840 | |
| Furniture and vehicles | 24 | €204,262 | €144,410 | -€59,852 | -29.3% |
| Financial fixed assets | 28 | €20,035 | €20,035 | = | 0.0% |
| Current assets | 29/58 | €135,515 | €82,016 | -€53,499 | -39.5% |
| Amounts receivable within one year | 40/41 | €124,413 | €60,120 | -€64,293 | -51.7% |
| Trade receivables | 40 | €85,935 | €1,264 | -€84,671 | -98.5% |
| Other amounts receivable | 41 | €38,478 | €58,856 | +€20,378 | +53.0% |
| Cash at bank and in hand | 54/58 | €6,092 | €20,987 | +€14,895 | +244.5% |
| Deferred charges and accrued income | 490/1 | €5,010 | €909 | -€4,101 | -81.9% |
| Total equity and liabilities | 10/49 | €359,812 | €250,301 | -€109,511 | -30.4% |
| Equity | 10/15 | €28,867 | €56,810 | +€27,943 | +96.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,867 | €36,810 | +€27,943 | +315.1% |
| Amounts payable | 17/49 | €330,945 | €193,491 | -€137,454 | -41.5% |
| Amounts payable after more than one year | 17 | €105,198 | €84,299 | -€20,898 | -19.9% |
| Financial debts | 170/4 | €105,198 | €84,299 | -€20,898 | -19.9% |
| Amounts payable within one year | 42/48 | €219,679 | €107,758 | -€111,921 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €67,820 | €88,706 | +€20,886 | +30.8% |
| Trade debts | 44 | €1,892 | €673 | -€1,219 | -64.4% |
| Suppliers | 440/4 | €1,892 | €673 | -€1,219 | -64.4% |
| Taxes, remuneration and social security | 45 | €8,858 | €11,962 | +€3,104 | +35.0% |
| Taxes | 450/3 | €4,473 | €11,962 | +€7,489 | +167.4% |
| Remuneration and social security | 454/9 | €4,385 | - | -€4,385 | |
| Other amounts payable | 47/48 | €141,109 | €6,417 | -€134,692 | -95.5% |
| Accrued charges and deferred income | 492/3 | €6,068 | €1,434 | -€4,634 | -76.4% |
| Non-recurring operating income | 76A | €12,611 | - | -€12,611 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,267 | €115,803 | +€21,536 | +22.8% |
| Other operating charges | 640/8 | €1,304 | €1,757 | +€453 | +34.7% |
| Gross operating margin | 9900 | €131,790 | €162,550 | +€30,760 | +23.3% |
| Operating profit (loss) | 9901 | €36,219 | €44,990 | +€8,771 | +24.2% |
| Financial income | 75/76B | €0 | €6 | +€6 | +59900.0% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +59900.0% |
| Financial charges | 65/66B | €16,942 | €8,445 | -€8,496 | -50.2% |
| Recurring financial charges | 65 | €7,408 | €7,472 | +€64 | +0.9% |
| Non-recurring financial charges | 66B | €9,533 | €973 | -€8,561 | -89.8% |
| Profit (loss) for the period before taxes | 9903 | €19,278 | €36,551 | +€17,273 | +89.6% |
| Income taxes | 67/77 | €3,353 | €8,609 | +€5,255 | +156.7% |
| Profit (loss) for the period | 9904 | €15,924 | €27,943 | +€12,018 | +75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,924 | €27,943 | +€12,018 | +75.5% |
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 2 October 2026 via checked.be.