AFFI-D: 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.
AFFI-D
Largest movements
- Cash +€249,316
up €249,316 (+131.1%), from €190,103 to €439,419
mainly Current investments (+€200,000) and Receivables within one year (+€84,107)
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Receivables within one year -€84,107
down €84,107 (-35.3%), from €238,163 to €154,056
of which Trade receivables: -€77,362
- Tangible fixed assets -€16,546
down €16,546 (-24.9%), from €66,533 to €49,987
of which Plant, machinery and equipment: -€35,737
- Receivables after one year -€9,232
down €9,232 (-28.2%), from €32,744 to €23,512
- Accrued charges and deferred income -€41,365
no longer reported in 2025 (was €41,365)
- Profit (loss) carried forward +€40,378
up €40,378 (+51.2%), from €78,792 to €119,170
- Other debts -€31,091
no longer reported in 2025 (was €31,091)
- Tax, wage and social debts -€30,825
down €30,825 (-93.4%), from €33,008 to €2,182
- Write-downs -€43,005
no longer reported in 2025 (was €43,005)
- Depreciation +€34,755
up €34,755 (+1116.0%), from €3,114 to €37,869
- Taxes +€25,868
up €25,868 (+231.1%), from €11,194 to €37,062
- Gross operating margin -€10,349
down €10,349 (-8.6%), from €120,671 to €110,322
- Financial income +€4,814
up €4,814 (+563.2%), from €855 to €5,668
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 | €738,007 | €677,439 | -€60,569 | -8.2% |
| Fixed assets | 21/28 | €76,997 | €60,452 | -€16,546 | -21.5% |
| Tangible fixed assets | 22/27 | €66,533 | €49,987 | -€16,546 | -24.9% |
| Plant, machinery and equipment | 23 | €66,533 | €30,796 | -€35,737 | -53.7% |
| Furniture and vehicles | 24 | - | €19,191 | +€19,191 | |
| Financial fixed assets | 28 | €10,464 | €10,464 | = | 0.0% |
| Current assets | 29/58 | €661,010 | €616,987 | -€44,023 | -6.7% |
| Amounts receivable after more than one year | 29 | €32,744 | €23,512 | -€9,232 | -28.2% |
| Other amounts receivable | 291 | €32,744 | €23,512 | -€9,232 | -28.2% |
| Amounts receivable within one year | 40/41 | €238,163 | €154,056 | -€84,107 | -35.3% |
| Trade receivables | 40 | €145,465 | €68,103 | -€77,362 | -53.2% |
| Other amounts receivable | 41 | €92,698 | €85,952 | -€6,745 | -7.3% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €190,103 | €439,419 | +€249,316 | +131.1% |
| Total equity and liabilities | 10/49 | €738,007 | €677,439 | -€60,569 | -8.2% |
| Equity | 10/15 | €578,821 | €619,199 | +€40,378 | +7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €481,429 | €481,429 | = | 0.0% |
| Distributable reserves | 133 | €481,429 | €481,429 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,792 | €119,170 | +€40,378 | +51.2% |
| Amounts payable | 17/49 | €159,186 | €58,239 | -€100,947 | -63.4% |
| Amounts payable within one year | 42/48 | €117,821 | €58,239 | -€59,582 | -50.6% |
| Trade debts | 44 | €53,722 | €56,057 | +€2,334 | +4.3% |
| Suppliers | 440/4 | €53,722 | €56,057 | +€2,334 | +4.3% |
| Taxes, remuneration and social security | 45 | €33,008 | €2,182 | -€30,825 | -93.4% |
| Taxes | 450/3 | €33,008 | €2,182 | -€30,825 | -93.4% |
| Other amounts payable | 47/48 | €31,091 | - | -€31,091 | |
| Accrued charges and deferred income | 492/3 | €41,365 | - | -€41,365 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,114 | €37,869 | +€34,755 | +1116.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €43,005 | - | -€43,005 | |
| Other operating charges | 640/8 | €3,726 | €550 | -€3,177 | -85.2% |
| Non-recurring operating charges | 66A | €40,000 | - | -€40,000 | |
| Gross operating margin | 9900 | €120,671 | €110,322 | -€10,349 | -8.6% |
| Operating profit (loss) | 9901 | €30,825 | €71,903 | +€41,077 | +133.3% |
| Financial income | 75/76B | €855 | €5,668 | +€4,814 | +563.2% |
| Recurring financial income | 75 | €855 | €5,668 | +€4,814 | +563.2% |
| Financial charges | 65/66B | €484 | €131 | -€354 | -73.0% |
| Recurring financial charges | 65 | €484 | €131 | -€354 | -73.0% |
| Profit (loss) for the period before taxes | 9903 | €31,196 | €77,440 | +€46,245 | +148.2% |
| Income taxes | 67/77 | €11,194 | €37,062 | +€25,868 | +231.1% |
| Profit (loss) for the period | 9904 | €20,001 | €40,378 | +€20,377 | +101.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,001 | €40,378 | +€20,377 | +101.9% |
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 5 October 2026 via checked.be.