AFA Projecten: 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.
AFA Projecten
Largest movements
- Tangible fixed assets -€368,410
down €368,410 (-55.1%), from €668,827 to €300,418
- Stocks and contracts -€66,319
down €66,319 (-12.4%), from €533,738 to €467,419
- Cash -€15,356
down €15,356 (-50.8%), from €30,241 to €14,885
mainly Other debts (-€469,994) and Trade debts (-€34,971)
- Other debts -€469,994
down €469,994 (-85.6%), from €549,133 to €79,138
- Accrued charges and deferred income +€42,916
up €42,916 (+159%), from €26,998 to €69,914
- Trade debts -€34,971
down €34,971 (-32.6%), from €107,373 to €72,402
- Gross operating margin +€44,384
up €44,384 (+49.4%), from €89,792 to €134,176
- Financial charges -€40,959
down €40,959 (-67.6%), from €60,605 to €19,646
- Depreciation -€10,650
down €10,650 (-49.8%), from €21,393 to €10,742
- Taxes +€5,261
up €5,261 (+464%), from €1,133 to €6,394
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 | €1,302,175 | €853,559 | -€448,616 | -34.5% |
| Fixed assets | 21/28 | €738,196 | €369,787 | -€368,410 | -49.9% |
| Tangible fixed assets | 22/27 | €668,827 | €300,418 | -€368,410 | -55.1% |
| Land and buildings | 22 | €668,827 | €300,418 | -€368,410 | -55.1% |
| Financial fixed assets | 28 | €69,369 | €69,369 | = | 0.0% |
| Current assets | 29/58 | €563,979 | €483,773 | -€80,206 | -14.2% |
| Stocks and contracts in progress | 3 | €533,738 | €467,419 | -€66,319 | -12.4% |
| Stocks | 30/36 | €533,738 | €467,419 | -€66,319 | -12.4% |
| Amounts receivable within one year | 40/41 | - | €1,469 | +€1,469 | |
| Other amounts receivable | 41 | - | €1,469 | +€1,469 | |
| Cash at bank and in hand | 54/58 | €30,241 | €14,885 | -€15,356 | -50.8% |
| Total equity and liabilities | 10/49 | €1,302,175 | €853,559 | -€448,616 | -34.5% |
| Equity | 10/15 | €279,414 | €291,404 | +€11,990 | +4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €260,814 | €272,804 | +€11,990 | +4.6% |
| Distributable reserves | 133 | €260,814 | €272,804 | +€11,990 | +4.6% |
| Amounts payable | 17/49 | €1,022,761 | €562,155 | -€460,606 | -45.0% |
| Amounts payable within one year | 42/48 | €995,763 | €492,241 | -€503,523 | -50.6% |
| Financial debts | 43 | €335,000 | €335,000 | = | 0.0% |
| Credit institutions | 430/8 | €335,000 | €335,000 | = | 0.0% |
| Trade debts | 44 | €107,373 | €72,402 | -€34,971 | -32.6% |
| Suppliers | 440/4 | €107,373 | €72,402 | -€34,971 | -32.6% |
| Taxes, remuneration and social security | 45 | €4,257 | €5,700 | +€1,443 | +33.9% |
| Taxes | 450/3 | €4,257 | €5,700 | +€1,443 | +33.9% |
| Other amounts payable | 47/48 | €549,133 | €79,138 | -€469,994 | -85.6% |
| Accrued charges and deferred income | 492/3 | €26,998 | €69,914 | +€42,916 | +159% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,393 | €10,742 | -€10,650 | -49.8% |
| Other operating charges | 640/8 | €2,797 | €2,736 | -€61 | -2.2% |
| Non-recurring operating charges | 66A | - | €82,667 | +€82,667 | |
| Gross operating margin | 9900 | €89,792 | €134,176 | +€44,384 | +49.4% |
| Operating profit (loss) | 9901 | €65,601 | €38,030 | -€27,571 | -42.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €60,605 | €19,646 | -€40,959 | -67.6% |
| Recurring financial charges | 65 | €60,605 | €19,646 | -€40,959 | -67.6% |
| Profit (loss) for the period before taxes | 9903 | €4,997 | €18,384 | +€13,387 | +268% |
| Income taxes | 67/77 | €1,133 | €6,394 | +€5,261 | +464% |
| Profit (loss) for the period | 9904 | €3,864 | €11,990 | +€8,126 | +210% |
| Profit (loss) for the period to be appropriated | 9905 | €3,864 | €11,990 | +€8,126 | +210% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.