AFELEC: 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.
AFELEC
Largest movements
- Tangible fixed assets +€18,185
up €18,185 (+36.1%), from €50,334 to €68,519
of which Furniture and vehicles: +€20,310
- Receivables within one year +€14,414
up €14,414 (+49.4%), from €29,184 to €43,598
of which Other amounts receivable: +€16,196
- Cash -€7,412
down €7,412 (-5.9%), from €126,565 to €119,153
mainly Contributions, distributions and other (-€89,000) and Investment in fixed assets (net) (-€31,672)
- Other debts +€32,200
up €32,200 (+56.7%), from €56,800 to €89,000
- Profit (loss) carried forward -€6,749
down €6,749 (-83.5%), from €8,081 to €1,331
- Gross operating margin +€26,580
up €26,580 (+19.0%), from €140,194 to €166,774
- Taxes +€4,130
up €4,130 (+19.8%), from €20,888 to €25,018
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 | €226,050 | €251,958 | +€25,908 | +11.5% |
| Fixed assets | 21/28 | €50,334 | €68,519 | +€18,185 | +36.1% |
| Tangible fixed assets | 22/27 | €50,334 | €68,519 | +€18,185 | +36.1% |
| Land and buildings | 22 | €29,750 | €27,625 | -€2,125 | -7.1% |
| Furniture and vehicles | 24 | €20,584 | €40,894 | +€20,310 | +98.7% |
| Current assets | 29/58 | €175,715 | €183,439 | +€7,723 | +4.4% |
| Stocks and contracts in progress | 3 | €11,121 | €11,650 | +€529 | +4.8% |
| Stocks | 30/36 | €11,121 | €11,650 | +€529 | +4.8% |
| Amounts receivable within one year | 40/41 | €29,184 | €43,598 | +€14,414 | +49.4% |
| Trade receivables | 40 | €6,453 | €4,672 | -€1,782 | -27.6% |
| Other amounts receivable | 41 | €22,731 | €38,927 | +€16,196 | +71.2% |
| Cash at bank and in hand | 54/58 | €126,565 | €119,153 | -€7,412 | -5.9% |
| Deferred charges and accrued income | 490/1 | €8,845 | €9,037 | +€192 | +2.2% |
| Total equity and liabilities | 10/49 | €226,050 | €251,958 | +€25,908 | +11.5% |
| Equity | 10/15 | €164,941 | €158,191 | -€6,749 | -4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €150,660 | €150,660 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €148,800 | €148,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,081 | €1,331 | -€6,749 | -83.5% |
| Amounts payable | 17/49 | €61,109 | €93,766 | +€32,657 | +53.4% |
| Amounts payable within one year | 42/48 | €61,109 | €93,766 | +€32,657 | +53.4% |
| Trade debts | 44 | €880 | €1,254 | +€374 | +42.5% |
| Suppliers | 440/4 | €880 | €1,254 | +€374 | +42.5% |
| Advances received on contracts in progress | 46 | €259 | - | -€259 | |
| Taxes, remuneration and social security | 45 | €3,170 | €3,512 | +€342 | +10.8% |
| Remuneration and social security | 454/9 | €3,170 | €3,512 | +€342 | +10.8% |
| Other amounts payable | 47/48 | €56,800 | €89,000 | +€32,200 | +56.7% |
| Remuneration, social security and pensions | 62 | €45,316 | €45,101 | -€215 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,649 | €13,487 | -€161 | -1.2% |
| Other operating charges | 640/8 | €2,122 | €1,381 | -€741 | -34.9% |
| Gross operating margin | 9900 | €140,194 | €166,774 | +€26,580 | +19.0% |
| Operating profit (loss) | 9901 | €79,108 | €106,804 | +€27,697 | +35.0% |
| Financial income | 75/76B | €685 | €691 | +€7 | +1.0% |
| Recurring financial income | 75 | €685 | €691 | +€7 | +1.0% |
| Financial charges | 65/66B | €217 | €227 | +€10 | +4.7% |
| Recurring financial charges | 65 | €217 | €227 | +€10 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €79,576 | €107,269 | +€27,693 | +34.8% |
| Income taxes | 67/77 | €20,888 | €25,018 | +€4,130 | +19.8% |
| Profit (loss) for the period | 9904 | €58,688 | €82,251 | +€23,563 | +40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,688 | €82,251 | +€23,563 | +40.1% |
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 18 October 2026 via checked.be.