AFIVAAST: 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.
AFIVAAST
Largest movements
- Receivables within one year -€120,069
down €120,069 (-43.2%), from €277,684 to €157,615
of which Trade receivables: -€128,036
- Tangible fixed assets -€57,727
down €57,727 (-19.8%), from €292,000 to €234,273
of which Plant, machinery and equipment: -€71,588
- Cash -€55,750
down €55,750 (-33.1%), from €168,552 to €112,801
mainly Net result for the year (-€599,789) and Investment in fixed assets (net) (-€41,871)
- Intangible fixed assets -€40,000
down €40,000 (-50.0%), from €80,000 to €40,000
- Stocks and contracts -€24,546
down €24,546 (-5.5%), from €448,063 to €423,517
- Profit (loss) carried forward -€599,789
down €599,789 (-92.7%), from -€647,300 to -€1.2m
- Trade debts +€385,059
up €385,059 (+37.2%), from €1.0m to €1.4m
- Current portion of long-term debt -€34,389
down €34,389 (-45.5%), from €75,614 to €41,224
- Other debts -€32,000
down €32,000 (-7.7%), from €417,400 to €385,400
- Debts after one year -€16,224
down €16,224 (-13.0%), from €124,537 to €108,313
of which Financial debts: -€16,224
- Gross operating margin -€288,370
down €288,370 (-50.5%), from €571,100 to €282,731
- Staff costs -€79,927
down €79,927 (-10.7%), from €744,607 to €664,680
- Financial charges +€18,445
up €18,445 (+61.2%), from €30,144 to €48,589
- Financial income +€8,845
new in 2025: €8,845
of which Financial income: +€8,845
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 | €1,271,095 | €968,949 | -€302,146 | -23.8% |
| Fixed assets | 21/28 | €372,000 | €274,273 | -€97,727 | -26.3% |
| Intangible fixed assets | 21 | €80,000 | €40,000 | -€40,000 | -50.0% |
| Tangible fixed assets | 22/27 | €292,000 | €234,273 | -€57,727 | -19.8% |
| Plant, machinery and equipment | 23 | €198,365 | €126,777 | -€71,588 | -36.1% |
| Furniture and vehicles | 24 | €91,134 | €106,668 | +€15,534 | +17.0% |
| Other tangible fixed assets | 26 | €2,500 | €827 | -€1,673 | -66.9% |
| Current assets | 29/58 | €899,095 | €694,676 | -€204,419 | -22.7% |
| Stocks and contracts in progress | 3 | €448,063 | €423,517 | -€24,546 | -5.5% |
| Stocks | 30/36 | €448,063 | €423,517 | -€24,546 | -5.5% |
| Amounts receivable within one year | 40/41 | €277,684 | €157,615 | -€120,069 | -43.2% |
| Trade receivables | 40 | €211,759 | €83,723 | -€128,036 | -60.5% |
| Other amounts receivable | 41 | €65,925 | €73,892 | +€7,967 | +12.1% |
| Cash at bank and in hand | 54/58 | €168,552 | €112,801 | -€55,750 | -33.1% |
| Deferred charges and accrued income | 490/1 | €4,796 | €742 | -€4,054 | -84.5% |
| Total equity and liabilities | 10/49 | €1,271,095 | €968,949 | -€302,146 | -23.8% |
| Equity | 10/15 | -€545,676 | -€1,145,465 | -€599,789 | -110% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,624 | €1,624 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,624 | €1,624 | = | 0.0% |
| Legal reserve | 130 | €1,624 | €1,624 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€647,300 | -€1,247,089 | -€599,789 | -92.7% |
| Amounts payable | 17/49 | €1,816,771 | €2,114,414 | +€297,643 | +16.4% |
| Amounts payable after more than one year | 17 | €124,537 | €108,313 | -€16,224 | -13.0% |
| Financial debts | 170/4 | €120,737 | €104,513 | -€16,224 | -13.4% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,692,234 | €2,006,101 | +€313,867 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | €75,614 | €41,224 | -€34,389 | -45.5% |
| Financial debts | 43 | €61,177 | €66,849 | +€5,672 | +9.3% |
| Credit institutions | 430/8 | €61,177 | €66,849 | +€5,672 | +9.3% |
| Trade debts | 44 | €1,035,006 | €1,420,065 | +€385,059 | +37.2% |
| Suppliers | 440/4 | €1,035,006 | €1,420,065 | +€385,059 | +37.2% |
| Taxes, remuneration and social security | 45 | €103,037 | €92,563 | -€10,475 | -10.2% |
| Remuneration and social security | 454/9 | €103,037 | €92,563 | -€10,475 | -10.2% |
| Other amounts payable | 47/48 | €417,400 | €385,400 | -€32,000 | -7.7% |
| Remuneration, social security and pensions | 62 | €744,607 | €664,680 | -€79,927 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,342 | €139,597 | +€255 | +0.2% |
| Other operating charges | 640/8 | €38,932 | €38,498 | -€434 | -1.1% |
| Gross operating margin | 9900 | €571,100 | €282,731 | -€288,370 | -50.5% |
| Operating profit (loss) | 9901 | -€351,781 | -€560,044 | -€208,264 | -59.2% |
| Financial income | 75/76B | - | €8,845 | +€8,845 | |
| Recurring financial income | 75 | - | €8,845 | +€8,845 | |
| Non-recurring financial income | 76B | - | €8,845 | +€8,845 | |
| Financial charges | 65/66B | €30,144 | €48,589 | +€18,445 | +61.2% |
| Recurring financial charges | 65 | €30,144 | €48,589 | +€18,445 | +61.2% |
| Profit (loss) for the period before taxes | 9903 | -€381,925 | -€599,789 | -€217,864 | -57.0% |
| Profit (loss) for the period | 9904 | -€381,925 | -€599,789 | -€217,864 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€381,925 | -€599,789 | -€217,864 | -57.0% |
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 14 October 2026 via checked.be.