Afinma: 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.
Afinma
Largest movements
- Cash +€118,240
up €118,240 (+131%), from €90,202 to €208,442
mainly Net result for the year (+€81,950) and Current investments (+€60,000)
- Current investments -€60,000
no longer reported in 2025 (was €60,000)
- Tangible fixed assets -€4,942
down €4,942 (-27.5%), from €17,981 to €13,039
- Deferred charges and accrued income -€4,128
down €4,128 (-9.9%), from €41,486 to €37,358
- Reserves +€81,117
up €81,117 (+53.5%), from €151,533 to €232,650
- Tax, wage and social debts -€26,897
down €26,897 (-41.6%), from €64,732 to €37,835
- Other debts -€5,840
down €5,840 (-81.0%), from €7,207 to €1,367
- Gross operating margin -€18,141
down €18,141 (-14.1%), from €128,862 to €110,721
- Taxes -€3,567
down €3,567 (-12.6%), from €28,260 to €24,693
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 | €226,390 | €276,487 | +€50,098 | +22.1% |
| Fixed assets | 21/28 | €17,981 | €13,039 | -€4,942 | -27.5% |
| Tangible fixed assets | 22/27 | €17,981 | €13,039 | -€4,942 | -27.5% |
| Furniture and vehicles | 24 | €17,981 | €13,039 | -€4,942 | -27.5% |
| Current assets | 29/58 | €208,409 | €263,448 | +€55,040 | +26.4% |
| Amounts receivable within one year | 40/41 | €16,721 | €17,649 | +€927 | +5.5% |
| Trade receivables | 40 | €16,717 | €17,606 | +€889 | +5.3% |
| Other amounts receivable | 41 | €5 | €43 | +€38 | +839% |
| Current investments | 50/53 | €60,000 | - | -€60,000 | |
| Cash at bank and in hand | 54/58 | €90,202 | €208,442 | +€118,240 | +131% |
| Deferred charges and accrued income | 490/1 | €41,486 | €37,358 | -€4,128 | -9.9% |
| Total equity and liabilities | 10/49 | €226,390 | €276,487 | +€50,098 | +22.1% |
| Equity | 10/15 | €154,033 | €235,150 | +€81,117 | +52.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €151,533 | €232,650 | +€81,117 | +53.5% |
| Distributable reserves | 133 | €151,533 | €232,650 | +€81,117 | +53.5% |
| Amounts payable | 17/49 | €72,357 | €41,338 | -€31,019 | -42.9% |
| Amounts payable within one year | 42/48 | €72,216 | €41,338 | -€30,879 | -42.8% |
| Trade debts | 44 | €278 | €2,136 | +€1,859 | +669% |
| Suppliers | 440/4 | €278 | €2,136 | +€1,859 | +669% |
| Taxes, remuneration and social security | 45 | €64,732 | €37,835 | -€26,897 | -41.6% |
| Taxes | 450/3 | €64,732 | €37,835 | -€26,897 | -41.6% |
| Other amounts payable | 47/48 | €7,207 | €1,367 | -€5,840 | -81.0% |
| Accrued charges and deferred income | 492/3 | €141 | - | -€141 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,942 | €4,942 | = | 0.0% |
| Other operating charges | 640/8 | €337 | €487 | +€151 | +44.9% |
| Gross operating margin | 9900 | €128,862 | €110,721 | -€18,141 | -14.1% |
| Operating profit (loss) | 9901 | €123,584 | €105,292 | -€18,292 | -14.8% |
| Financial income | 75/76B | €469 | €1,391 | +€922 | +197% |
| Recurring financial income | 75 | €469 | €1,391 | +€922 | +197% |
| Financial charges | 65/66B | €40 | €40 | +€1 | +2.1% |
| Recurring financial charges | 65 | €40 | €40 | +€1 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €124,013 | €106,643 | -€17,370 | -14.0% |
| Income taxes | 67/77 | €28,260 | €24,693 | -€3,567 | -12.6% |
| Profit (loss) for the period | 9904 | €95,753 | €81,950 | -€13,803 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €95,753 | €81,950 | -€13,803 | -14.4% |
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 15 October 2026 via checked.be.