AFF PROJECTS: 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.
AFF PROJECTS
Largest movements
- Receivables within one year -€28,322
down €28,322 (-42.4%), from €66,823 to €38,501
of which Trade receivables: -€23,718
- Cash +€4,061
up €4,061 (+53.7%), from €7,555 to €11,616
mainly Receivables within one year (+€28,322) and Tax, wage and social debts (+€5,015)
- Tangible fixed assets +€2,654
up €2,654 (+116%), from €2,293 to €4,948
of which Furniture and vehicles: +€3,584
- Trade debts -€21,253
down €21,253 (-54.5%), from €38,983 to €17,730
- Tax, wage and social debts +€5,015
up €5,015 (+60.2%), from €8,329 to €13,343
of which Remuneration and social security: +€4,171
- Other debts -€3,253
down €3,253 (-12.7%), from €25,645 to €22,391
- Current portion of long-term debt -€1,796
no longer reported in 2025 (was €1,796)
- Gross operating margin -€16,612
down €16,612 (-43.2%), from €38,484 to €21,872
- Staff costs +€7,561
up €7,561 (+199%), from €3,804 to €11,365
- Taxes -€7,289
down €7,289 (-92.4%), from €7,887 to €597
- Depreciation +€1,127
up €1,127 (+92.5%), from €1,219 to €2,346
- Other operating charges +€797
up €797 (+129%), from €619 to €1,416
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 | €78,201 | €56,643 | -€21,559 | -27.6% |
| Fixed assets | 21/28 | €2,293 | €4,948 | +€2,654 | +116% |
| Tangible fixed assets | 22/27 | €2,293 | €4,948 | +€2,654 | +116% |
| Plant, machinery and equipment | 23 | €2,293 | €1,363 | -€930 | -40.6% |
| Furniture and vehicles | 24 | - | €3,584 | +€3,584 | |
| Current assets | 29/58 | €75,908 | €51,695 | -€24,213 | -31.9% |
| Amounts receivable within one year | 40/41 | €66,823 | €38,501 | -€28,322 | -42.4% |
| Trade receivables | 40 | €62,219 | €38,501 | -€23,718 | -38.1% |
| Other amounts receivable | 41 | €4,604 | - | -€4,604 | |
| Cash at bank and in hand | 54/58 | €7,555 | €11,616 | +€4,061 | +53.7% |
| Deferred charges and accrued income | 490/1 | €1,530 | €1,578 | +€48 | +3.1% |
| Total equity and liabilities | 10/49 | €78,201 | €56,643 | -€21,559 | -27.6% |
| Equity | 10/15 | €3,000 | €3,178 | +€178 | +5.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €178 | +€178 | |
| Distributable reserves | 133 | - | €178 | +€178 | |
| Amounts payable | 17/49 | €75,201 | €53,464 | -€21,737 | -28.9% |
| Amounts payable within one year | 42/48 | €74,752 | €53,464 | -€21,288 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | €1,796 | - | -€1,796 | |
| Trade debts | 44 | €38,983 | €17,730 | -€21,253 | -54.5% |
| Suppliers | 440/4 | €38,983 | €17,730 | -€21,253 | -54.5% |
| Taxes, remuneration and social security | 45 | €8,329 | €13,343 | +€5,015 | +60.2% |
| Taxes | 450/3 | €7,941 | €8,785 | +€844 | +10.6% |
| Remuneration and social security | 454/9 | €387 | €4,558 | +€4,171 | +1,077% |
| Other amounts payable | 47/48 | €25,645 | €22,391 | -€3,253 | -12.7% |
| Accrued charges and deferred income | 492/3 | €449 | - | -€449 | |
| Remuneration, social security and pensions | 62 | €3,804 | €11,365 | +€7,561 | +199% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,219 | €2,346 | +€1,127 | +92.5% |
| Other operating charges | 640/8 | €619 | €1,416 | +€797 | +129% |
| Non-recurring operating charges | 66A | - | €5,638 | +€5,638 | |
| Gross operating margin | 9900 | €38,484 | €21,872 | -€16,612 | -43.2% |
| Operating profit (loss) | 9901 | €32,843 | €1,108 | -€31,735 | -96.6% |
| Financial income | 75/76B | €30 | €9 | -€21 | -69.1% |
| Recurring financial income | 75 | €30 | €9 | -€21 | -69.1% |
| Financial charges | 65/66B | €320 | €341 | +€22 | +6.8% |
| Recurring financial charges | 65 | €320 | €341 | +€22 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €32,553 | €776 | -€31,778 | -97.6% |
| Income taxes | 67/77 | €7,887 | €597 | -€7,289 | -92.4% |
| Profit (loss) for the period | 9904 | €24,667 | €178 | -€24,488 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,667 | €178 | -€24,488 | -99.3% |
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 21 October 2026 via checked.be.