AFFINCO: 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.
AFFINCO
Largest movements
- Cash -€49,389
down €49,389 (-42.4%), from €116,560 to €67,172
mainly Contributions, distributions and other (-€161,000) and Other debts (-€105,765)
- Other debts -€105,765
down €105,765 (-26.4%), from €400,685 to €294,920
- Financial charges +€104,764
up €104,764 (+1980.2%), from €5,291 to €110,055
- Gross operating margin +€21,836
up €21,836 (+6.9%), from €317,882 to €339,718
- Financial income -€4,716
down €4,716 (-47.5%), from €9,926 to €5,210
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 | €4,783,056 | €4,726,970 | -€56,087 | -1.2% |
| Fixed assets | 21/28 | €4,349,924 | €4,329,798 | -€20,126 | -0.5% |
| Tangible fixed assets | 22/27 | €49,924 | €29,798 | -€20,126 | -40.3% |
| Land and buildings | 22 | €14,869 | €7,421 | -€7,447 | -50.1% |
| Plant, machinery and equipment | 23 | €4,069 | €1,192 | -€2,878 | -70.7% |
| Furniture and vehicles | 24 | €30,986 | €21,185 | -€9,801 | -31.6% |
| Financial fixed assets | 28 | €4,300,000 | €4,300,000 | = | 0.0% |
| Current assets | 29/58 | €433,133 | €397,172 | -€35,961 | -8.3% |
| Amounts receivable within one year | 40/41 | €16,572 | - | -€16,572 | |
| Trade receivables | 40 | €16,572 | - | -€16,572 | |
| Current investments | 50/53 | €300,000 | €330,000 | +€30,000 | +10.0% |
| Cash at bank and in hand | 54/58 | €116,560 | €67,172 | -€49,389 | -42.4% |
| Total equity and liabilities | 10/49 | €4,783,056 | €4,726,970 | -€56,087 | -1.2% |
| Equity | 10/15 | €54,022 | €89,700 | +€35,678 | +66.0% |
| Contributions | 10/11 | €39,000 | €39,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €50,700 | +€35,700 | +238.0% |
| Distributable reserves | 133 | €15,000 | €50,700 | +€35,700 | +238.0% |
| Profit (loss) carried forward | 14 | €22 | - | -€22 | |
| Amounts payable | 17/49 | €4,729,034 | €4,637,270 | -€91,764 | -1.9% |
| Amounts payable after more than one year | 17 | €4,311,931 | €4,311,931 | = | 0.0% |
| Financial debts | 170/4 | €49,000 | €49,000 | = | 0.0% |
| Other amounts payable | 178/9 | €4,262,931 | €4,262,931 | = | 0.0% |
| Amounts payable within one year | 42/48 | €417,103 | €325,339 | -€91,764 | -22.0% |
| Trade debts | 44 | €3,511 | €12,860 | +€9,349 | +266.3% |
| Suppliers | 440/4 | €3,511 | €12,860 | +€9,349 | +266.3% |
| Taxes, remuneration and social security | 45 | €12,907 | €17,559 | +€4,652 | +36.0% |
| Taxes | 450/3 | €12,907 | €17,559 | +€4,652 | +36.0% |
| Other amounts payable | 47/48 | €400,685 | €294,920 | -€105,765 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,368 | €20,126 | -€1,243 | -5.8% |
| Other operating charges | 640/8 | €2,388 | €1,972 | -€416 | -17.4% |
| Gross operating margin | 9900 | €317,882 | €339,718 | +€21,836 | +6.9% |
| Operating profit (loss) | 9901 | €294,126 | €317,621 | +€23,495 | +8.0% |
| Financial income | 75/76B | €9,926 | €5,210 | -€4,716 | -47.5% |
| Recurring financial income | 75 | €9,926 | €5,210 | -€4,716 | -47.5% |
| Financial charges | 65/66B | €5,291 | €110,055 | +€104,764 | +1980.2% |
| Recurring financial charges | 65 | €5,291 | €110,055 | +€104,764 | +1980.2% |
| Profit (loss) for the period before taxes | 9903 | €298,762 | €212,776 | -€85,985 | -28.8% |
| Income taxes | 67/77 | €17,532 | €16,098 | -€1,433 | -8.2% |
| Profit (loss) for the period | 9904 | €281,230 | €196,678 | -€84,552 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €281,230 | €196,678 | -€84,552 | -30.1% |
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 8 October 2026 via checked.be.