AFLECO: 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.
AFLECO
Largest movements
- Receivables within one year +€227,092
up €227,092 (+165.1%), from €137,588 to €364,680
of which Trade receivables: +€219,523
- Cash -€124,700
down €124,700 (-92.7%), from €134,499 to €9,800
mainly Receivables within one year (-€227,092) and Investment in fixed assets (net) (-€10,000)
- Intangible fixed assets +€8,320
new in 2025: €8,320
- Reserves +€62,977
up €62,977 (+108.5%), from €58,020 to €120,996
of which Distributable reserves: +€65,996
- Trade debts +€55,037
up €55,037 (+122.3%), from €45,000 to €100,037
- Tax, wage and social debts -€4,097
down €4,097 (-8.8%), from €46,697 to €42,600
- Turnover -€217,606
no longer reported in 2025 (was €217,606)
- Services and other goods -€133,955
no longer reported in 2025 (was €133,955)
- Gross operating margin +€82,579
new in 2025: €82,579
- Taxes -€3,400
down €3,400 (-14.8%), from €23,000 to €19,600
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 | €272,087 | €383,633 | +€111,545 | +41.0% |
| Fixed assets | 21/28 | - | €8,320 | +€8,320 | |
| Intangible fixed assets | 21 | - | €8,320 | +€8,320 | |
| Current assets | 29/58 | €272,087 | €375,313 | +€103,226 | +37.9% |
| Amounts receivable within one year | 40/41 | €137,588 | €364,680 | +€227,092 | +165.1% |
| Trade receivables | 40 | €137,588 | €357,111 | +€219,523 | +159.6% |
| Other amounts receivable | 41 | - | €7,569 | +€7,569 | |
| Cash at bank and in hand | 54/58 | €134,499 | €9,800 | -€124,700 | -92.7% |
| Deferred charges and accrued income | 490/1 | - | €833 | +€833 | |
| Total equity and liabilities | 10/49 | €272,087 | €383,633 | +€111,545 | +41.0% |
| Equity | 10/15 | €180,390 | €240,996 | +€60,606 | +33.6% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | - | -€120,000 | |
| Issued capital | 100 | €120,000 | - | -€120,000 | |
| Reserves | 13 | €58,020 | €120,996 | +€62,977 | +108.5% |
| Non-distributable reserves | 130/1 | €3,020 | €0 | -€3,020 | -100.0% |
| Legal reserve | 130 | €3,020 | - | -€3,020 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Distributable reserves | 133 | €55,000 | €120,996 | +€65,996 | +120.0% |
| Profit (loss) carried forward | 14 | €2,370 | €0 | -€2,370 | -100.0% |
| Amounts payable | 17/49 | €91,697 | €142,637 | +€50,939 | +55.6% |
| Amounts payable within one year | 42/48 | €91,697 | €142,637 | +€50,939 | +55.6% |
| Trade debts | 44 | €45,000 | €100,037 | +€55,037 | +122.3% |
| Suppliers | 440/4 | €45,000 | €100,037 | +€55,037 | +122.3% |
| Taxes, remuneration and social security | 45 | €46,697 | €42,600 | -€4,097 | -8.8% |
| Taxes | 450/3 | €46,697 | €42,600 | -€4,097 | -8.8% |
| Operating income | 70/76A | €217,606 | - | -€217,606 | |
| Turnover | 70 | €217,606 | - | -€217,606 | |
| Operating charges | 60/66A | €134,073 | - | -€134,073 | |
| Services and other goods | 61 | €133,955 | - | -€133,955 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,680 | +€1,680 | |
| Other operating charges | 640/8 | €118 | €520 | +€402 | +340.4% |
| Gross operating margin | 9900 | - | €82,579 | +€82,579 | |
| Operating profit (loss) | 9901 | €83,533 | €80,379 | -€3,154 | -3.8% |
| Financial charges | 65/66B | €143 | €173 | +€30 | +20.8% |
| Recurring financial charges | 65 | €143 | €173 | +€30 | +20.8% |
| Other financial charges | 652/9 | €143 | - | -€143 | |
| Profit (loss) for the period before taxes | 9903 | €83,390 | €80,206 | -€3,184 | -3.8% |
| Income taxes | 67/77 | €23,000 | €19,600 | -€3,400 | -14.8% |
| Taxes | 670/3 | €23,000 | - | -€23,000 | |
| Profit (loss) for the period | 9904 | €60,390 | €60,606 | +€216 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €60,390 | €60,606 | +€216 | +0.4% |
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.