AFMECH: 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.
What changed
AFMECH
NACE 28.990, Manufacture of machinery and equipment not elsewhere classified
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3.4m
2024 · -€188,216-€3.2m
Equity
€583,985
2024 · €6.5m-€5.9m
Cash
€750,151
2024 · €793,905-€43,754
Balance sheet total
€2.4m
2024 · €7.5m-€5.1m
Largest movements
Assets
- Financial fixed assets -€3.4m
down €3.4m (-100.0%), from €3.4m to €1,377
- Tangible fixed assets -€668,279
down €668,279 (-88.3%), from €756,717 to €88,438
of which Land and buildings: -€640,251
- Receivables after one year -€520,000
no longer reported in 2025 (was €520,000)
- Current investments -€474,091
down €474,091 (-44.6%), from €1.1m to €588,187
Equity and liabilities
- Profit (loss) carried forward -€5.7m
down €5.7m (-91.4%), from €6.2m to €531,720
- Other debts +€1.3m
up €1.3m (+2951.2%), from €42,857 to €1.3m
- Trade debts -€236,792
down €236,792 (-37.2%), from €637,204 to €400,412
- Contributions -€205,519
down €205,519 (-82.2%), from €250,000 to €44,481
- Tax, wage and social debts -€175,707
down €175,707 (-78.1%), from €225,096 to €49,389
of which Remuneration and social security: -€101,967
Income statement
- Financial charges +€3.2m
up €3.2m (+3887.5%), from €83,066 to €3.3m
of which Non-recurring financial charges: +€2.1m
- Gross operating margin +€82,463
up €82,463 (+9.9%), from €836,572 to €919,035
- Financial income -€42,043
down €42,043 (-19.3%), from €218,176 to €176,133
- Staff costs -€27,683
down €27,683 (-2.6%), from €1.0m to €1.0m
- Provisions +€25,087
no longer reported in 2025 (was -€25,087)
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.
Result 2024
-€188,216
Gross operating margin
+€82,463
Staff costs
+€27,683
Depreciation
+€24,019
Write-downs
-€16,505
Provisions
-€25,087
Other operating charges
-€461
Financial income
-€42,043
Financial charges
-€3.2m
Taxes
+€66
Result 2025
-€3.4m
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.
From operations
-€1.9m
Investment
+€4.5m
Financing
-€2.6m
Cash 2024
€793,905
From operations (derived)
-€1.9m
Net result for the year
-€3.4m
Depreciation
+€60,368
Receivables after one year
+€520,000
Smaller working-capital items
+€8,636
Receivables within one year
-€53,284
Deferred charges and accrued income
+€30,507
Trade debts
-€236,792
Tax, wage and social debts
-€175,707
Other debts
+€1.3m
Investment (derived)
+€4.5m
Investment in fixed assets (net)
+€4.0m
Current investments
+€474,091
Financing
-€2.6m
Debts after one year
-€24,588
Current portion of long-term debt
-€6,761
Short-term financial debts
+€17,265
Contributions, distributions and other
-€2.6m
Not broken down
+€3
Cash 2025
€750,151
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,500,978 | €2,423,866 | -€5.1m | -67.7% |
| Fixed assets | 21/28 | €4,149,454 | €89,815 | -€4.1m | -97.8% |
| Intangible fixed assets | 21 | €3,479 | - | -€3,479 | |
| Tangible fixed assets | 22/27 | €756,717 | €88,438 | -€668,279 | -88.3% |
| Land and buildings | 22 | €640,251 | - | -€640,251 | |
| Plant, machinery and equipment | 23 | €13,259 | €7,128 | -€6,131 | -46.2% |
| Furniture and vehicles | 24 | €103,207 | €81,310 | -€21,897 | -21.2% |
| Financial fixed assets | 28 | €3,389,257 | €1,377 | -€3.4m | -100.0% |
| Current assets | 29/58 | €3,351,524 | €2,334,051 | -€1.0m | -30.4% |
| Amounts receivable after more than one year | 29 | €520,000 | - | -€520,000 | |
| Other amounts receivable | 291 | €520,000 | - | -€520,000 | |
| Stocks and contracts in progress | 3 | €202,433 | €200,030 | -€2,403 | -1.2% |
| Stocks | 30/36 | €202,433 | €200,030 | -€2,403 | -1.2% |
| Amounts receivable within one year | 40/41 | €735,226 | €788,510 | +€53,284 | +7.2% |
| Trade receivables | 40 | €675,280 | €784,119 | +€108,839 | +16.1% |
| Other amounts receivable | 41 | €59,947 | €4,391 | -€55,556 | -92.7% |
| Current investments | 50/53 | €1,062,278 | €588,187 | -€474,091 | -44.6% |
| Cash at bank and in hand | 54/58 | €793,905 | €750,151 | -€43,754 | -5.5% |
| Deferred charges and accrued income | 490/1 | €37,681 | €7,174 | -€30,507 | -81.0% |
| Total equity and liabilities | 10/49 | €7,500,978 | €2,423,866 | -€5.1m | -67.7% |
| Equity | 10/15 | €6,505,545 | €583,985 | -€5.9m | -91.0% |
| Contributions | 10/11 | €250,000 | €44,481 | -€205,519 | -82.2% |
| Capital | 10 | €250,000 | €44,481 | -€205,519 | -82.2% |
| Issued capital | 100 | €250,000 | €44,481 | -€205,519 | -82.2% |
| Reserves | 13 | €43,750 | €7,784 | -€35,966 | -82.2% |
| Non-distributable reserves | 130/1 | €25,000 | €4,448 | -€20,552 | -82.2% |
| Legal reserve | 130 | €25,000 | €4,448 | -€20,552 | -82.2% |
| Tax-exempt reserves | 132 | €18,750 | €3,336 | -€15,414 | -82.2% |
| Profit (loss) carried forward | 14 | €6,209,523 | €531,720 | -€5.7m | -91.4% |
| Investment grants | 15 | €2,272 | - | -€2,272 | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €995,433 | €1,839,881 | +€844,448 | +84.8% |
| Amounts payable after more than one year | 17 | €58,928 | €34,340 | -€24,588 | -41.7% |
| Financial debts | 170/4 | €58,928 | €34,340 | -€24,588 | -41.7% |
| Amounts payable within one year | 42/48 | €936,505 | €1,805,541 | +€869,036 | +92.8% |
| Current portion of amounts payable after more than one year | 42 | €31,348 | €24,587 | -€6,761 | -21.6% |
| Financial debts | 43 | - | €17,265 | +€17,265 | |
| Credit institutions | 430/8 | - | €17,265 | +€17,265 | |
| Trade debts | 44 | €637,204 | €400,412 | -€236,792 | -37.2% |
| Suppliers | 440/4 | €637,204 | €400,412 | -€236,792 | -37.2% |
| Advances received on contracts in progress | 46 | - | €6,233 | +€6,233 | |
| Taxes, remuneration and social security | 45 | €225,096 | €49,389 | -€175,707 | -78.1% |
| Taxes | 450/3 | €97,430 | €23,691 | -€73,739 | -75.7% |
| Remuneration and social security | 454/9 | €127,666 | €25,699 | -€101,967 | -79.9% |
| Other amounts payable | 47/48 | €42,857 | €1,307,653 | +€1.3m | +2951.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €4,132 | €2,033 | -€2,099 | -50.8% |
| Remuneration, social security and pensions | 62 | €1,046,307 | €1,018,624 | -€27,683 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,387 | €60,368 | -€24,019 | -28.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€16,856 | -€351 | +€16,505 | +97.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€25,087 | - | +€25,087 | |
| Other operating charges | 640/8 | €70,495 | €70,956 | +€461 | +0.7% |
| Gross operating margin | 9900 | €836,572 | €919,035 | +€82,463 | +9.9% |
| Operating profit (loss) | 9901 | -€322,675 | -€230,562 | +€92,113 | +28.5% |
| Financial income | 75/76B | €218,176 | €176,133 | -€42,043 | -19.3% |
| Recurring financial income | 75 | €218,176 | €176,133 | -€42,043 | -19.3% |
| Financial charges | 65/66B | €83,066 | €3,312,226 | +€3.2m | +3887.5% |
| Recurring financial charges | 65 | €83,066 | €1,187,044 | +€1.1m | +1329.0% |
| Non-recurring financial charges | 66B | - | €2,125,182 | +€2.1m | |
| Profit (loss) for the period before taxes | 9903 | -€187,564 | -€3,366,655 | -€3.2m | -1694.9% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €652 | €586 | -€66 | -10.2% |
| Profit (loss) for the period | 9904 | -€188,216 | -€3,367,241 | -€3.2m | -1689.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€188,216 | -€3,367,241 | -€3.2m | -1689.0% |
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 11 October 2026 via checked.be.