AFDZ: 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.
AFDZ
Largest movements
- Financial fixed assets -€334,533
down €334,533 (-80.7%), from €414,533 to €80,000
- Intangible fixed assets +€157,752
new in 2024: €157,752
- Cash +€109,657
up €109,657 (+10584.6%), from €1,036 to €110,693
mainly Investment in fixed assets (net) (+€170,620) and Receivables within one year (+€107,247)
- Receivables within one year -€107,247
down €107,247 (-72.5%), from €147,988 to €40,741
of which Trade receivables: -€130,292
- Tangible fixed assets -€50,694
down €50,694 (-3.6%), from €1.4m to €1.4m
of which Land and buildings: -€55,300
- Other debts -€96,800
down €96,800 (-27.9%), from €346,854 to €250,054
- Debts after one year -€79,940
down €79,940 (-6.9%), from €1.2m to €1.1m
- Reserves -€62,893
down €62,893 (-21.3%), from €294,892 to €231,998
of which Distributable reserves: -€245,415
- Gross operating margin -€142,182
down €142,182 (-54.7%), from €259,776 to €117,595
- Taxes -€4,168
down €4,168 (-39.7%), from €10,495 to €6,328
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,966,166 | €1,742,801 | -€223,366 | -11.4% |
| Fixed assets | 21/28 | €1,817,142 | €1,589,667 | -€227,476 | -12.5% |
| Intangible fixed assets | 21 | - | €157,752 | +€157,752 | |
| Tangible fixed assets | 22/27 | €1,402,609 | €1,351,915 | -€50,694 | -3.6% |
| Land and buildings | 22 | €1,398,034 | €1,342,734 | -€55,300 | -4.0% |
| Furniture and vehicles | 24 | €4,575 | €9,180 | +€4,606 | +100.7% |
| Financial fixed assets | 28 | €414,533 | €80,000 | -€334,533 | -80.7% |
| Current assets | 29/58 | €149,024 | €153,134 | +€4,110 | +2.8% |
| Amounts receivable within one year | 40/41 | €147,988 | €40,741 | -€107,247 | -72.5% |
| Trade receivables | 40 | €137,071 | €6,779 | -€130,292 | -95.1% |
| Other amounts receivable | 41 | €10,917 | €33,962 | +€23,045 | +211.1% |
| Cash at bank and in hand | 54/58 | €1,036 | €110,693 | +€109,657 | +10584.6% |
| Deferred charges and accrued income | 490/1 | - | €1,700 | +€1,700 | |
| Total equity and liabilities | 10/49 | €1,966,166 | €1,742,801 | -€223,366 | -11.4% |
| Equity | 10/15 | €364,892 | €301,998 | -€62,893 | -17.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €294,892 | €231,998 | -€62,893 | -21.3% |
| Tax-exempt reserves | 132 | - | €182,522 | +€182,522 | |
| Distributable reserves | 133 | €294,892 | €49,476 | -€245,415 | -83.2% |
| Amounts payable | 17/49 | €1,601,275 | €1,440,802 | -€160,472 | -10.0% |
| Amounts payable after more than one year | 17 | €1,156,228 | €1,076,288 | -€79,940 | -6.9% |
| Financial debts | 170/4 | €1,156,228 | €1,076,288 | -€79,940 | -6.9% |
| Amounts payable within one year | 42/48 | €445,047 | €364,514 | -€80,533 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €78,186 | €79,940 | +€1,754 | +2.2% |
| Trade debts | 44 | €1,100 | €9,341 | +€8,241 | +749.4% |
| Suppliers | 440/4 | €1,100 | €9,341 | +€8,241 | +749.4% |
| Advances received on contracts in progress | 46 | - | €2,262 | +€2,262 | |
| Taxes, remuneration and social security | 45 | €18,907 | €22,918 | +€4,010 | +21.2% |
| Taxes | 450/3 | €18,907 | €22,918 | +€4,010 | +21.2% |
| Other amounts payable | 47/48 | €346,854 | €250,054 | -€96,800 | -27.9% |
| Non-recurring operating income | 76A | €460 | - | -€460 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,994 | €56,855 | +€861 | +1.5% |
| Other operating charges | 640/8 | €10,555 | €11,183 | +€628 | +6.0% |
| Gross operating margin | 9900 | €259,776 | €117,595 | -€142,182 | -54.7% |
| Operating profit (loss) | 9901 | €193,227 | €49,557 | -€143,670 | -74.4% |
| Financial charges | 65/66B | €29,192 | €27,500 | -€1,691 | -5.8% |
| Recurring financial charges | 65 | €29,192 | €27,500 | -€1,691 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €164,035 | €22,056 | -€141,979 | -86.6% |
| Income taxes | 67/77 | €10,495 | €6,328 | -€4,168 | -39.7% |
| Profit (loss) for the period | 9904 | €153,540 | €15,728 | -€137,811 | -89.8% |
| Transfer to tax-exempt reserves | 689 | - | €157,752 | +€157,752 | |
| Profit (loss) for the period to be appropriated | 9905 | €153,540 | -€142,024 | -€295,563 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.