AFNAN GROUP: 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.
AFNAN GROUP
Largest movements
- Cash +€17,926
up €17,926 (+106%), from €16,879 to €34,806
mainly Trade debts (+€44,316) and Tax, wage and social debts (+€2,528)
- Stocks and contracts +€8,778
up €8,778 (+6.6%), from €132,070 to €140,848
- Trade debts +€44,316
up €44,316 (+35.9%), from €123,574 to €167,890
- Profit (loss) carried forward -€19,134
down €19,134, from €12,917 to -€6,216
- Tax, wage and social debts +€2,528
up €2,528 (+9.9%), from €25,449 to €27,977
- Gross operating margin -€51,730
down €51,730, from €36,712 to -€15,019
- Taxes -€3,643
no longer reported in 2025 (was €3,643)
- Other operating charges +€2,579
up €2,579 (+296%), from €871 to €3,450
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 | €181,296 | €208,778 | +€27,483 | +15.2% |
| Fixed assets | 21/28 | €1,172 | €811 | -€362 | -30.8% |
| Tangible fixed assets | 22/27 | €533 | €172 | -€362 | -67.8% |
| Plant, machinery and equipment | 23 | €533 | €172 | -€362 | -67.8% |
| Financial fixed assets | 28 | €639 | €639 | = | 0.0% |
| Current assets | 29/58 | €180,123 | €207,968 | +€27,845 | +15.5% |
| Stocks and contracts in progress | 3 | €132,070 | €140,848 | +€8,778 | +6.6% |
| Stocks | 30/36 | €132,070 | €140,848 | +€8,778 | +6.6% |
| Amounts receivable within one year | 40/41 | €31,174 | €32,314 | +€1,140 | +3.7% |
| Trade receivables | 40 | €30,875 | €31,909 | +€1,033 | +3.3% |
| Other amounts receivable | 41 | €299 | €406 | +€107 | +35.6% |
| Cash at bank and in hand | 54/58 | €16,879 | €34,806 | +€17,926 | +106% |
| Total equity and liabilities | 10/49 | €181,296 | €208,778 | +€27,483 | +15.2% |
| Equity | 10/15 | €12,917 | -€6,216 | -€19,134 | |
| Profit (loss) carried forward | 14 | €12,917 | -€6,216 | -€19,134 | |
| Amounts payable | 17/49 | €168,378 | €214,995 | +€46,617 | +27.7% |
| Amounts payable within one year | 42/48 | €168,378 | €214,995 | +€46,617 | +27.7% |
| Trade debts | 44 | €123,574 | €167,890 | +€44,316 | +35.9% |
| Suppliers | 440/4 | €123,574 | €167,890 | +€44,316 | +35.9% |
| Taxes, remuneration and social security | 45 | €25,449 | €27,977 | +€2,528 | +9.9% |
| Taxes | 450/3 | €25,449 | €27,977 | +€2,528 | +9.9% |
| Other amounts payable | 47/48 | €19,355 | €19,128 | -€227 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €362 | €362 | = | 0.0% |
| Other operating charges | 640/8 | €871 | €3,450 | +€2,579 | +296% |
| Gross operating margin | 9900 | €36,712 | -€15,019 | -€51,730 | |
| Operating profit (loss) | 9901 | €35,479 | -€18,830 | -€54,309 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +543% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +543% |
| Financial charges | 65/66B | €256 | €305 | +€49 | +19.1% |
| Recurring financial charges | 65 | €256 | €305 | +€49 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €35,223 | -€19,134 | -€54,356 | |
| Income taxes | 67/77 | €3,643 | - | -€3,643 | |
| Profit (loss) for the period | 9904 | €31,580 | -€19,134 | -€50,714 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,580 | -€19,134 | -€50,714 |
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 16 October 2026 via checked.be.