AFITAM: 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.
AFITAM
Largest movements
- Receivables within one year -€455,243
down €455,243 (-48.3%), from €941,638 to €486,395
of which Trade receivables: -€456,163
- Cash +€364,207
up €364,207 (+14.6%), from €2.5m to €2.9m
mainly Receivables within one year (+€455,243) and Short-term financial debts (+€406,825)
- Tangible fixed assets -€147,153
down €147,153 (-4.9%), from €3.0m to €2.8m
of which Other tangible fixed assets: -€147,413
- Stocks and contracts +€98,183
up €98,183 (+13.0%), from €755,457 to €853,640
- Short-term financial debts +€406,825
up €406,825 (+142%), from €285,668 to €692,492
- Trade debts -€388,169
down €388,169 (-18.4%), from €2.1m to €1.7m
- Profit (loss) carried forward +€248,293
up €248,293 (+36.5%), from €679,642 to €927,935
- Debts after one year -€247,535
down €247,535 (-9.0%), from €2.8m to €2.5m
of which Financial debts: -€247,535
- Tax, wage and social debts -€184,553
down €184,553 (-20.5%), from €899,068 to €714,514
of which Taxes: -€205,836
- Gross operating margin -€501,003
down €501,003 (-15.2%), from €3.3m to €2.8m
- Taxes -€448,871
down €448,871 (-77.7%), from €578,055 to €129,185
- Staff costs +€197,239
up €197,239 (+11.4%), from €1.7m to €1.9m
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 | €7,197,218 | €7,060,796 | -€136,422 | -1.9% |
| Fixed assets | 21/28 | €3,002,178 | €2,855,024 | -€147,153 | -4.9% |
| Tangible fixed assets | 22/27 | €2,978,680 | €2,831,527 | -€147,153 | -4.9% |
| Plant, machinery and equipment | 23 | €23,468 | €29,089 | +€5,621 | +24.0% |
| Furniture and vehicles | 24 | €558,090 | €569,277 | +€11,187 | +2.0% |
| Leasing and similar rights | 25 | €49,646 | €33,098 | -€16,549 | -33.3% |
| Other tangible fixed assets | 26 | €2,347,477 | €2,200,064 | -€147,413 | -6.3% |
| Financial fixed assets | 28 | €23,497 | €23,497 | = | 0.0% |
| Current assets | 29/58 | €4,195,040 | €4,205,771 | +€10,731 | +0.3% |
| Stocks and contracts in progress | 3 | €755,457 | €853,640 | +€98,183 | +13.0% |
| Stocks | 30/36 | €755,457 | €853,640 | +€98,183 | +13.0% |
| Amounts receivable within one year | 40/41 | €941,638 | €486,395 | -€455,243 | -48.3% |
| Trade receivables | 40 | €614,606 | €158,443 | -€456,163 | -74.2% |
| Other amounts receivable | 41 | €327,032 | €327,953 | +€920 | +0.3% |
| Cash at bank and in hand | 54/58 | €2,488,443 | €2,852,650 | +€364,207 | +14.6% |
| Deferred charges and accrued income | 490/1 | €9,502 | €13,086 | +€3,584 | +37.7% |
| Total equity and liabilities | 10/49 | €7,197,218 | €7,060,796 | -€136,422 | -1.9% |
| Equity | 10/15 | €747,812 | €996,105 | +€248,293 | +33.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €679,642 | €927,935 | +€248,293 | +36.5% |
| Amounts payable | 17/49 | €6,449,405 | €6,064,690 | -€384,715 | -6.0% |
| Amounts payable after more than one year | 17 | €2,755,600 | €2,508,065 | -€247,535 | -9.0% |
| Financial debts | 170/4 | €2,751,800 | €2,504,265 | -€247,535 | -9.0% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,693,806 | €3,556,626 | -€137,180 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €393,769 | €418,535 | +€24,766 | +6.3% |
| Financial debts | 43 | €285,668 | €692,492 | +€406,825 | +142% |
| Credit institutions | 430/8 | €285,668 | €692,492 | +€406,825 | +142% |
| Trade debts | 44 | €2,115,302 | €1,727,133 | -€388,169 | -18.4% |
| Suppliers | 440/4 | €2,115,302 | €1,727,133 | -€388,169 | -18.4% |
| Taxes, remuneration and social security | 45 | €899,068 | €714,514 | -€184,553 | -20.5% |
| Taxes | 450/3 | €660,464 | €454,628 | -€205,836 | -31.2% |
| Remuneration and social security | 454/9 | €238,604 | €259,886 | +€21,283 | +8.9% |
| Other amounts payable | 47/48 | - | €3,951 | +€3,951 | |
| Remuneration, social security and pensions | 62 | €1,726,760 | €1,923,999 | +€197,239 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €323,115 | €338,863 | +€15,748 | +4.9% |
| Other operating charges | 640/8 | €67,206 | €72,967 | +€5,761 | +8.6% |
| Gross operating margin | 9900 | €3,302,143 | €2,801,140 | -€501,003 | -15.2% |
| Operating profit (loss) | 9901 | €1,185,063 | €465,312 | -€719,751 | -60.7% |
| Financial income | 75/76B | €14,110 | €24,088 | +€9,978 | +70.7% |
| Recurring financial income | 75 | €14,110 | €24,088 | +€9,978 | +70.7% |
| Financial charges | 65/66B | €117,543 | €111,922 | -€5,621 | -4.8% |
| Recurring financial charges | 65 | €117,543 | €111,922 | -€5,621 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €1,081,631 | €377,478 | -€704,153 | -65.1% |
| Income taxes | 67/77 | €578,055 | €129,185 | -€448,871 | -77.7% |
| Profit (loss) for the period | 9904 | €503,576 | €248,293 | -€255,282 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €503,576 | €248,293 | -€255,282 | -50.7% |
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 13 October 2026 via checked.be.