AFA real estate: 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 real estate
Largest movements
- Stocks and contracts +€577,106
up €577,106 (+126%), from €457,308 to €1.0m
- Other debts +€954,521
up €954,521 (+535%), from €178,350 to €1.1m
- Short-term financial debts -€250,670
no longer reported in 2025 (was €250,670)
- Trade debts -€87,202
down €87,202 (-96.3%), from €90,556 to €3,353
- Profit (loss) carried forward -€37,643
down €37,643 (-184%), from -€20,423 to -€58,066
- Gross operating margin -€9,952
down €9,952 (-109%), from -€9,122 to -€19,074
- Financial charges +€6,986
up €6,986 (+71.0%), from €9,843 to €16,829
- Depreciation +€1,044
up €1,044 (+215%), from €486 to €1,530
- Other operating charges -€763
down €763 (-78.3%), from €974 to €211
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 | €505,894 | €1,084,726 | +€578,832 | +114% |
| Fixed assets | 21/28 | €6,714 | €6,406 | -€309 | -4.6% |
| Intangible fixed assets | 21 | €6,714 | €5,274 | -€1,440 | -21.4% |
| Tangible fixed assets | 22/27 | - | €1,131 | +€1,131 | |
| Furniture and vehicles | 24 | - | €1,131 | +€1,131 | |
| Current assets | 29/58 | €499,179 | €1,078,320 | +€579,141 | +116% |
| Stocks and contracts in progress | 3 | €457,308 | €1,034,414 | +€577,106 | +126% |
| Stocks | 30/36 | €457,308 | €1,034,414 | +€577,106 | +126% |
| Amounts receivable within one year | 40/41 | €9,222 | €7,186 | -€2,036 | -22.1% |
| Trade receivables | 40 | - | €782 | +€782 | |
| Other amounts receivable | 41 | €9,222 | €6,403 | -€2,819 | -30.6% |
| Cash at bank and in hand | 54/58 | €32,317 | €36,357 | +€4,040 | +12.5% |
| Deferred charges and accrued income | 490/1 | €332 | €363 | +€31 | +9.4% |
| Total equity and liabilities | 10/49 | €505,894 | €1,084,726 | +€578,832 | +114% |
| Equity | 10/15 | -€15,423 | -€53,066 | -€37,643 | -244% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,423 | -€58,066 | -€37,643 | -184% |
| Amounts payable | 17/49 | €521,316 | €1,137,792 | +€616,475 | +118% |
| Amounts payable within one year | 42/48 | €519,576 | €1,136,225 | +€616,649 | +119% |
| Financial debts | 43 | €250,670 | - | -€250,670 | |
| Credit institutions | 430/8 | €250,670 | - | -€250,670 | |
| Trade debts | 44 | €90,556 | €3,353 | -€87,202 | -96.3% |
| Suppliers | 440/4 | €90,556 | €3,353 | -€87,202 | -96.3% |
| Other amounts payable | 47/48 | €178,350 | €1,132,871 | +€954,521 | +535% |
| Accrued charges and deferred income | 492/3 | €1,740 | €1,567 | -€173 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €486 | €1,530 | +€1,044 | +215% |
| Other operating charges | 640/8 | €974 | €211 | -€763 | -78.3% |
| Gross operating margin | 9900 | -€9,122 | -€19,074 | -€9,952 | -109% |
| Operating profit (loss) | 9901 | -€10,581 | -€20,815 | -€10,234 | -96.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -99.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -99.0% |
| Financial charges | 65/66B | €9,843 | €16,829 | +€6,986 | +71.0% |
| Recurring financial charges | 65 | €9,843 | €16,829 | +€6,986 | +71.0% |
| Profit (loss) for the period before taxes | 9903 | -€20,423 | -€37,643 | -€17,221 | -84.3% |
| Profit (loss) for the period | 9904 | -€20,423 | -€37,643 | -€17,221 | -84.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,423 | -€37,643 | -€17,221 | -84.3% |
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 30 October 2026 via checked.be.