AF2: 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.
AF2
Largest movements
- Receivables within one year -€5,047
down €5,047 (-88.4%), from €5,709 to €663
of which Other amounts receivable: -€3,144
- Tangible fixed assets -€2,792
down €2,792 (-44.1%), from €6,332 to €3,540
- Cash -€2,373
down €2,373 (-27.2%), from €8,713 to €6,339
mainly Net result for the year (-€7,010) and Trade debts (-€3,741)
- Current investments -€990
down €990 (-32.7%), from €3,025 to €2,035
- Deferred charges and accrued income -€320
down €320 (-9.0%), from €3,556 to €3,236
- Profit (loss) carried forward -€7,010
down €7,010, from €4,803 to -€2,207
- Trade debts -€3,741
down €3,741 (-48.4%), from €7,733 to €3,992
- Tax, wage and social debts -€807
down €807 (-12.9%), from €6,257 to €5,450
of which Remuneration and social security: -€407
- Gross operating margin +€2,281
up €2,281 (+19.4%), from €11,732 to €14,013
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 | €27,686 | €16,165 | -€11,522 | -41.6% |
| Fixed assets | 21/28 | €6,684 | €3,892 | -€2,792 | -41.8% |
| Tangible fixed assets | 22/27 | €6,332 | €3,540 | -€2,792 | -44.1% |
| Other tangible fixed assets | 26 | €6,332 | €3,540 | -€2,792 | -44.1% |
| Financial fixed assets | 28 | €352 | €352 | = | 0.0% |
| Current assets | 29/58 | €21,003 | €12,273 | -€8,730 | -41.6% |
| Amounts receivable within one year | 40/41 | €5,709 | €663 | -€5,047 | -88.4% |
| Trade receivables | 40 | €2,565 | €663 | -€1,902 | -74.2% |
| Other amounts receivable | 41 | €3,144 | €0 | -€3,144 | -100% |
| Current investments | 50/53 | €3,025 | €2,035 | -€990 | -32.7% |
| Cash at bank and in hand | 54/58 | €8,713 | €6,339 | -€2,373 | -27.2% |
| Deferred charges and accrued income | 490/1 | €3,556 | €3,236 | -€320 | -9.0% |
| Total equity and liabilities | 10/49 | €27,686 | €16,165 | -€11,522 | -41.6% |
| Equity | 10/15 | €12,897 | €5,886 | -€7,010 | -54.4% |
| Contributions | 10/11 | €6,233 | €6,233 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,803 | -€2,207 | -€7,010 | |
| Amounts payable | 17/49 | €14,790 | €10,278 | -€4,512 | -30.5% |
| Amounts payable within one year | 42/48 | €14,790 | €10,278 | -€4,512 | -30.5% |
| Trade debts | 44 | €7,733 | €3,992 | -€3,741 | -48.4% |
| Suppliers | 440/4 | €7,733 | €3,992 | -€3,741 | -48.4% |
| Taxes, remuneration and social security | 45 | €6,257 | €5,450 | -€807 | -12.9% |
| Taxes | 450/3 | €3,594 | €3,194 | -€400 | -11.1% |
| Remuneration and social security | 454/9 | €2,663 | €2,256 | -€407 | -15.3% |
| Other amounts payable | 47/48 | €800 | €837 | +€37 | +4.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €16,834 | €16,804 | -€30 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,792 | €2,792 | = | 0.0% |
| Other operating charges | 640/8 | €772 | €696 | -€75 | -9.7% |
| Gross operating margin | 9900 | €11,732 | €14,013 | +€2,281 | +19.4% |
| Operating profit (loss) | 9901 | -€8,665 | -€6,279 | +€2,386 | +27.5% |
| Financial income | 75/76B | €23 | €15 | -€9 | -37.3% |
| Recurring financial income | 75 | €23 | €15 | -€9 | -37.3% |
| Financial charges | 65/66B | €342 | €357 | +€15 | +4.4% |
| Recurring financial charges | 65 | €342 | €357 | +€15 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,984 | -€6,621 | +€2,362 | +26.3% |
| Income taxes | 67/77 | €389 | €389 | -€1 | -0.1% |
| Profit (loss) for the period | 9904 | -€9,373 | -€7,010 | +€2,363 | +25.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,373 | -€7,010 | +€2,363 | +25.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.