AF3S: 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.
AF3S
Largest movements
- Receivables within one year -€49,138
down €49,138 (-86.8%), from €56,635 to €7,498
of which Trade receivables: -€44,532
- Cash +€26,101
up €26,101 (+155.8%), from €16,754 to €42,855
mainly Receivables within one year (+€49,138) and Net result for the year (+€28,252)
- Tangible fixed assets -€7,442
down €7,442 (-23.6%), from €31,581 to €24,139
of which Furniture and vehicles: -€7,008
- Intangible fixed assets -€6,000
down €6,000 (-14.3%), from €42,000 to €36,000
- Deferred charges and accrued income +€1,942
up €1,942 (+89.9%), from €2,161 to €4,103
- Other debts -€14,471
down €14,471 (-29.2%), from €49,567 to €35,096
- Debts after one year -€9,363
down €9,363 (-38.7%), from €24,224 to €14,861
- Profit (loss) carried forward -€6,748
down €6,748 (-12.5%), from €54,062 to €47,314
- Current portion of long-term debt -€4,885
down €4,885 (-34.3%), from €14,248 to €9,363
- Trade debts +€2,821
up €2,821 (+130.0%), from €2,170 to €4,991
- Gross operating margin -€12,391
down €12,391 (-17.9%), from €69,046 to €56,655
- Depreciation -€3,328
down €3,328 (-18.8%), from €17,704 to €14,376
- Taxes -€2,703
down €2,703 (-22.1%), from €12,230 to €9,527
- Financial charges -€2,684
down €2,684 (-40.2%), from €6,672 to €3,988
- Financial income +€2,201
up €2,201 (+26682.5%), from €8 to €2,210
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 | €149,131 | €114,595 | -€34,536 | -23.2% |
| Fixed assets | 21/28 | €73,581 | €60,139 | -€13,442 | -18.3% |
| Intangible fixed assets | 21 | €42,000 | €36,000 | -€6,000 | -14.3% |
| Tangible fixed assets | 22/27 | €31,581 | €24,139 | -€7,442 | -23.6% |
| Plant, machinery and equipment | 23 | €580 | €146 | -€434 | -74.8% |
| Furniture and vehicles | 24 | €31,001 | €23,993 | -€7,008 | -22.6% |
| Current assets | 29/58 | €75,551 | €54,456 | -€21,094 | -27.9% |
| Amounts receivable within one year | 40/41 | €56,635 | €7,498 | -€49,138 | -86.8% |
| Trade receivables | 40 | €48,680 | €4,147 | -€44,532 | -91.5% |
| Other amounts receivable | 41 | €7,956 | €3,350 | -€4,605 | -57.9% |
| Cash at bank and in hand | 54/58 | €16,754 | €42,855 | +€26,101 | +155.8% |
| Deferred charges and accrued income | 490/1 | €2,161 | €4,103 | +€1,942 | +89.9% |
| Total equity and liabilities | 10/49 | €149,131 | €114,595 | -€34,536 | -23.2% |
| Equity | 10/15 | €56,062 | €49,314 | -€6,748 | -12.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,062 | €47,314 | -€6,748 | -12.5% |
| Amounts payable | 17/49 | €93,069 | €65,281 | -€27,788 | -29.9% |
| Amounts payable after more than one year | 17 | €24,224 | €14,861 | -€9,363 | -38.7% |
| Financial debts | 170/4 | €24,224 | €14,861 | -€9,363 | -38.7% |
| Amounts payable within one year | 42/48 | €68,845 | €50,421 | -€18,425 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €14,248 | €9,363 | -€4,885 | -34.3% |
| Trade debts | 44 | €2,170 | €4,991 | +€2,821 | +130.0% |
| Suppliers | 440/4 | €2,170 | €4,991 | +€2,821 | +130.0% |
| Taxes, remuneration and social security | 45 | €2,860 | €970 | -€1,890 | -66.1% |
| Taxes | 450/3 | €1,360 | €970 | -€390 | -28.7% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €49,567 | €35,096 | -€14,471 | -29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,704 | €14,376 | -€3,328 | -18.8% |
| Other operating charges | 640/8 | €3,006 | €2,722 | -€284 | -9.4% |
| Gross operating margin | 9900 | €69,046 | €56,655 | -€12,391 | -17.9% |
| Operating profit (loss) | 9901 | €48,336 | €39,557 | -€8,780 | -18.2% |
| Financial income | 75/76B | €8 | €2,210 | +€2,201 | +26682.5% |
| Recurring financial income | 75 | €8 | €2,210 | +€2,201 | +26682.5% |
| Financial charges | 65/66B | €6,672 | €3,988 | -€2,684 | -40.2% |
| Recurring financial charges | 65 | €6,672 | €3,988 | -€2,684 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €41,672 | €37,778 | -€3,894 | -9.3% |
| Income taxes | 67/77 | €12,230 | €9,527 | -€2,703 | -22.1% |
| Profit (loss) for the period | 9904 | €29,442 | €28,252 | -€1,191 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,442 | €28,252 | -€1,191 | -4.0% |
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 28 September 2026 via checked.be.