AFCT: 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.
AFCT
Largest movements
- Receivables within one year -€132,311
no longer reported in 2025 (was €132,311)
of which Trade receivables: -€114,890
- Other debts +€149,809
up €149,809 (+344.7%), from €43,457 to €193,266
- Reserves -€115,296
down €115,296 (-40.1%), from €287,196 to €171,900
- Trade debts -€84,160
down €84,160 (-90.2%), from €93,304 to €9,143
- Debts after one year -€80,218
down €80,218 (-8.4%), from €952,598 to €872,379
- Turnover -€222,780
no longer reported in 2025 (was €222,780)
- Gross operating margin -€79,848
down €79,848 (-61.0%), from €130,803 to €50,954
- Depreciation -€60,180
down €60,180 (-88.7%), from €67,878 to €7,698
- Purchases and services -€40,414
down €40,414 (-30.1%), from €134,244 to €93,830
- Other operating charges -€15,941
down €15,941 (-83.5%), from €19,087 to €3,146
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 | €1,475,798 | €1,345,708 | -€130,090 | -8.8% |
| Fixed assets | 21/28 | €1,340,743 | €1,339,788 | -€955 | -0.1% |
| Intangible fixed assets | 21 | €2,143 | €1,620 | -€523 | -24.4% |
| Tangible fixed assets | 22/27 | €1,116,483 | €1,116,051 | -€432 | 0.0% |
| Land and buildings | 22 | €799,527 | €805,662 | +€6,136 | +0.8% |
| Plant, machinery and equipment | 23 | €308,904 | €307,454 | -€1,450 | -0.5% |
| Furniture and vehicles | 24 | €8,052 | €2,934 | -€5,118 | -63.6% |
| Financial fixed assets | 28 | €222,117 | €222,117 | = | 0.0% |
| Current assets | 29/58 | €135,055 | €5,920 | -€129,135 | -95.6% |
| Amounts receivable within one year | 40/41 | €132,311 | - | -€132,311 | |
| Trade receivables | 40 | €114,890 | - | -€114,890 | |
| Other amounts receivable | 41 | €17,421 | - | -€17,421 | |
| Cash at bank and in hand | 54/58 | €2,143 | €5,301 | +€3,158 | +147.3% |
| Deferred charges and accrued income | 490/1 | €600 | €619 | +€19 | +3.2% |
| Total equity and liabilities | 10/49 | €1,475,798 | €1,345,708 | -€130,090 | -8.8% |
| Equity | 10/15 | €290,096 | €172,104 | -€117,992 | -40.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Share premium | 1100/10 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €287,196 | €171,900 | -€115,296 | -40.1% |
| Non-distributable reserves | 130/1 | €287,196 | €171,900 | -€115,296 | -40.1% |
| Reserves not available under the articles | 1311 | €287,196 | €171,900 | -€115,296 | -40.1% |
| Profit (loss) carried forward | 14 | €1,900 | -€796 | -€2,695 | |
| Amounts payable | 17/49 | €1,185,702 | €1,173,604 | -€12,098 | -1.0% |
| Amounts payable after more than one year | 17 | €952,598 | €872,379 | -€80,218 | -8.4% |
| Financial debts | 170/4 | €952,598 | €872,379 | -€80,218 | -8.4% |
| Amounts payable within one year | 42/48 | €233,105 | €301,225 | +€68,120 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €76,315 | €80,218 | +€3,903 | +5.1% |
| Financial debts | 43 | - | €5,537 | +€5,537 | |
| Credit institutions | 430/8 | - | €5,537 | +€5,537 | |
| Trade debts | 44 | €93,304 | €9,143 | -€84,160 | -90.2% |
| Suppliers | 440/4 | €93,304 | €9,143 | -€84,160 | -90.2% |
| Taxes, remuneration and social security | 45 | €20,028 | €13,060 | -€6,968 | -34.8% |
| Taxes | 450/3 | €20,028 | €13,060 | -€6,968 | -34.8% |
| Other amounts payable | 47/48 | €43,457 | €193,266 | +€149,809 | +344.7% |
| Turnover | 70 | €222,780 | - | -€222,780 | |
| Goods, raw materials, services and sundry goods | 60/61 | €134,244 | €93,830 | -€40,414 | -30.1% |
| Remuneration, social security and pensions | 62 | €115 | €69 | -€46 | -39.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,878 | €7,698 | -€60,180 | -88.7% |
| Other operating charges | 640/8 | €19,087 | €3,146 | -€15,941 | -83.5% |
| Gross operating margin | 9900 | €130,803 | €50,954 | -€79,848 | -61.0% |
| Operating profit (loss) | 9901 | €43,722 | €40,040 | -€3,682 | -8.4% |
| Financial charges | 65/66B | €41,935 | €42,415 | +€481 | +1.1% |
| Recurring financial charges | 65 | €41,935 | €42,415 | +€481 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €1,788 | -€2,375 | -€4,162 | |
| Income taxes | 67/77 | €678 | €320 | -€358 | -52.8% |
| Profit (loss) for the period | 9904 | €1,109 | -€2,695 | -€3,804 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,109 | -€2,695 | -€3,804 |
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 30 September 2026 via checked.be.