AFC: 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.
AFC
Largest movements
- Tangible fixed assets -€676,863
down €676,863 (-12.8%), from €5.3m to €4.6m
of which Plant, machinery and equipment: -€495,913
- Receivables within one year +€208,259
up €208,259 (+28.1%), from €740,067 to €948,326
of which Other amounts receivable: +€522,264
- Deferred charges and accrued income -€86,526
down €86,526 (-89.1%), from €97,143 to €10,617
- Stocks and contracts +€82,920
up €82,920 (+132.9%), from €62,370 to €145,291
of which Stocks: +€50,389
- Debts after one year -€663,981
down €663,981 (-18.2%), from €3.6m to €3.0m
of which Financial debts: -€663,981
- Contributions +€250,000
up €250,000 (+24.5%), from €1.0m to €1.3m
- Trade debts +€139,641
up €139,641 (+15.4%), from €906,491 to €1.0m
- Other debts -€125,150
down €125,150 (-14.1%), from €889,326 to €764,176
- Profit (loss) carried forward -€119,793
down €119,793 (-9.3%), from -€1.3m to -€1.4m
- Financial charges -€43,667
down €43,667 (-21.9%), from €199,694 to €156,028
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 | €6,197,870 | €5,724,840 | -€473,030 | -7.6% |
| Fixed assets | 21/28 | €5,294,862 | €4,617,999 | -€676,863 | -12.8% |
| Tangible fixed assets | 22/27 | €5,294,862 | €4,617,999 | -€676,863 | -12.8% |
| Land and buildings | 22 | €13,318 | €12,107 | -€1,211 | -9.1% |
| Plant, machinery and equipment | 23 | €2,405,704 | €1,909,791 | -€495,913 | -20.6% |
| Leasing and similar rights | 25 | €2,875,840 | €2,696,100 | -€179,740 | -6.2% |
| Current assets | 29/58 | €903,008 | €1,106,841 | +€203,834 | +22.6% |
| Stocks and contracts in progress | 3 | €62,370 | €145,291 | +€82,920 | +132.9% |
| Stocks | 30/36 | - | €50,389 | +€50,389 | |
| Contracts in progress | 37 | €62,370 | €94,902 | +€32,532 | +52.2% |
| Amounts receivable within one year | 40/41 | €740,067 | €948,326 | +€208,259 | +28.1% |
| Trade receivables | 40 | €415,811 | €101,806 | -€314,005 | -75.5% |
| Other amounts receivable | 41 | €324,256 | €846,521 | +€522,264 | +161.1% |
| Cash at bank and in hand | 54/58 | €3,428 | €2,608 | -€820 | -23.9% |
| Deferred charges and accrued income | 490/1 | €97,143 | €10,617 | -€86,526 | -89.1% |
| Total equity and liabilities | 10/49 | €6,197,870 | €5,724,840 | -€473,030 | -7.6% |
| Equity | 10/15 | -€242,134 | -€111,927 | +€130,207 | +53.8% |
| Contributions | 10/11 | €1,018,600 | €1,268,600 | +€250,000 | +24.5% |
| Reserves | 13 | €22,980 | €22,980 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,980 | €0 | -€22,980 | -100.0% |
| Reserves not available under the articles | 1311 | €22,980 | €0 | -€22,980 | -100.0% |
| Distributable reserves | 133 | - | €22,980 | +€22,980 | |
| Profit (loss) carried forward | 14 | -€1,283,714 | -€1,403,506 | -€119,793 | -9.3% |
| Amounts payable | 17/49 | €6,440,004 | €5,836,767 | -€603,237 | -9.4% |
| Amounts payable after more than one year | 17 | €3,643,840 | €2,979,859 | -€663,981 | -18.2% |
| Financial debts | 170/4 | €3,506,340 | €2,842,359 | -€663,981 | -18.9% |
| Other amounts payable | 178/9 | €137,500 | €137,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,479,537 | €2,492,673 | +€13,136 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €647,447 | €663,981 | +€16,534 | +2.6% |
| Trade debts | 44 | €906,491 | €1,046,132 | +€139,641 | +15.4% |
| Suppliers | 440/4 | €906,491 | €1,046,132 | +€139,641 | +15.4% |
| Taxes, remuneration and social security | 45 | €36,273 | €18,383 | -€17,889 | -49.3% |
| Taxes | 450/3 | €28,334 | €8,973 | -€19,361 | -68.3% |
| Remuneration and social security | 454/9 | €7,939 | €9,410 | +€1,471 | +18.5% |
| Other amounts payable | 47/48 | €889,326 | €764,176 | -€125,150 | -14.1% |
| Accrued charges and deferred income | 492/3 | €316,627 | €364,235 | +€47,608 | +15.0% |
| Non-recurring operating income | 76A | - | €193,014 | +€193,014 | |
| Remuneration, social security and pensions | 62 | €49,655 | €47,649 | -€2,006 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €682,626 | €676,863 | -€5,763 | -0.8% |
| Other operating charges | 640/8 | €28,789 | €29,950 | +€1,161 | +4.0% |
| Non-recurring operating charges | 66A | €72,959 | €0 | -€72,959 | -100.0% |
| Gross operating margin | 9900 | €781,316 | €782,246 | +€930 | +0.1% |
| Operating profit (loss) | 9901 | -€52,712 | €27,784 | +€80,496 | |
| Financial income | 75/76B | €2,175 | €8,451 | +€6,276 | +288.6% |
| Recurring financial income | 75 | €2,175 | €8,451 | +€6,276 | +288.6% |
| Financial charges | 65/66B | €199,694 | €156,028 | -€43,667 | -21.9% |
| Recurring financial charges | 65 | €199,694 | €156,028 | -€43,667 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | -€250,232 | -€119,793 | +€130,439 | +52.1% |
| Profit (loss) for the period | 9904 | -€250,232 | -€119,793 | +€130,439 | +52.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€250,232 | -€119,793 | +€130,439 | +52.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.