AFG: 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.
AFG
Largest movements
- Receivables within one year +€89,348
up €89,348 (+1982.5%), from €4,507 to €93,855
of which Trade receivables: +€92,055
- Tangible fixed assets -€34,547
down €34,547 (-26.5%), from €130,530 to €95,983
- Profit (loss) carried forward +€24,721
up €24,721 (+3191.0%), from €775 to €25,496
- Other debts +€23,306
up €23,306 (+40.1%), from €58,191 to €81,497
- Debts after one year -€13,434
down €13,434 (-77.7%), from €17,288 to €3,854
- Trade debts +€10,403
up €10,403 (+113.7%), from €9,147 to €19,550
- Tax, wage and social debts +€10,086
up €10,086 (+65.2%), from €15,462 to €25,548
of which Taxes: +€8,922
- Depreciation -€9,494
down €9,494 (-21.6%), from €44,054 to €34,560
- Other operating charges -€7,231
down €7,231 (-85.1%), from €8,499 to €1,268
- Gross operating margin +€2,434
up €2,434 (+3.5%), from €70,186 to €72,620
- Taxes -€1,234
down €1,234 (-11.6%), from €10,599 to €9,365
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 | €135,905 | €189,975 | +€54,070 | +39.8% |
| Fixed assets | 21/28 | €130,630 | €96,083 | -€34,547 | -26.4% |
| Tangible fixed assets | 22/27 | €130,530 | €95,983 | -€34,547 | -26.5% |
| Furniture and vehicles | 24 | €130,530 | €95,983 | -€34,547 | -26.5% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €5,275 | €93,892 | +€88,617 | +1679.9% |
| Amounts receivable within one year | 40/41 | €4,507 | €93,855 | +€89,348 | +1982.5% |
| Trade receivables | 40 | €1,800 | €93,855 | +€92,055 | +5114.2% |
| Other amounts receivable | 41 | €2,707 | - | -€2,707 | |
| Cash at bank and in hand | 54/58 | €3 | €37 | +€34 | +1368.3% |
| Deferred charges and accrued income | 490/1 | €766 | - | -€766 | |
| Total equity and liabilities | 10/49 | €135,905 | €189,975 | +€54,070 | +39.8% |
| Equity | 10/15 | €19,375 | €44,096 | +€24,721 | +127.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €775 | €25,496 | +€24,721 | +3191.0% |
| Amounts payable | 17/49 | €116,531 | €145,879 | +€29,348 | +25.2% |
| Amounts payable after more than one year | 17 | €17,288 | €3,854 | -€13,434 | -77.7% |
| Financial debts | 170/4 | €17,288 | €3,854 | -€13,434 | -77.7% |
| Amounts payable within one year | 42/48 | €99,243 | €142,025 | +€42,782 | +43.1% |
| Current portion of amounts payable after more than one year | 42 | €16,443 | €15,430 | -€1,013 | -6.2% |
| Trade debts | 44 | €9,147 | €19,550 | +€10,403 | +113.7% |
| Suppliers | 440/4 | €9,147 | €19,550 | +€10,403 | +113.7% |
| Taxes, remuneration and social security | 45 | €15,462 | €25,548 | +€10,086 | +65.2% |
| Taxes | 450/3 | €12,312 | €21,234 | +€8,922 | +72.5% |
| Remuneration and social security | 454/9 | €3,151 | €4,314 | +€1,163 | +36.9% |
| Other amounts payable | 47/48 | €58,191 | €81,497 | +€23,306 | +40.1% |
| Non-recurring operating income | 76A | - | €19,000 | +€19,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,054 | €34,560 | -€9,494 | -21.6% |
| Other operating charges | 640/8 | €8,499 | €1,268 | -€7,231 | -85.1% |
| Gross operating margin | 9900 | €70,186 | €72,620 | +€2,434 | +3.5% |
| Operating profit (loss) | 9901 | €17,632 | €36,792 | +€19,160 | +108.7% |
| Financial charges | 65/66B | €2,034 | €2,706 | +€672 | +33.0% |
| Recurring financial charges | 65 | €2,034 | €2,706 | +€672 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €15,598 | €34,086 | +€18,488 | +118.5% |
| Income taxes | 67/77 | €10,599 | €9,365 | -€1,234 | -11.6% |
| Profit (loss) for the period | 9904 | €4,999 | €24,721 | +€19,722 | +394.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,999 | €24,721 | +€19,722 | +394.5% |
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.