AFORIS: 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.
AFORIS
Largest movements
- Receivables within one year -€79,694
down €79,694 (-49.4%), from €161,472 to €81,778
of which Trade receivables: -€97,867
- Cash +€64,516
up €64,516 (+204.9%), from €31,493 to €96,009
mainly Net result for the year (+€141,308) and Depreciation (+€84,653)
- Tangible fixed assets +€58,001
up €58,001 (+3.9%), from €1.5m to €1.5m
of which Land and buildings: +€54,458
- Financial fixed assets +€22,500
up €22,500 (+37.5%), from €60,000 to €82,500
- Reserves +€141,308
up €141,308 (+19.0%), from €742,053 to €883,362
- Trade debts -€103,170
down €103,170 (-88.4%), from €116,747 to €13,576
- Other debts +€60,015
up €60,015 (+9.6%), from €628,045 to €688,059
- Debts after one year -€33,943
down €33,943 (-16.3%), from €208,490 to €174,547
of which Financial debts: -€37,893
- Gross operating margin +€68,467
up €68,467 (+23.4%), from €292,326 to €360,794
- Taxes +€59,888
up €59,888 (+552.6%), from €10,837 to €70,726
- Financial charges +€44,512
up €44,512 (+268.2%), from €16,599 to €61,111
- Financial income +€6,069
up €6,069 (+706.3%), from €859 to €6,929
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 | €1,805,043 | €1,874,983 | +€69,940 | +3.9% |
| Fixed assets | 21/28 | €1,537,613 | €1,618,114 | +€80,501 | +5.2% |
| Tangible fixed assets | 22/27 | €1,477,613 | €1,535,614 | +€58,001 | +3.9% |
| Land and buildings | 22 | €1,398,804 | €1,453,262 | +€54,458 | +3.9% |
| Plant, machinery and equipment | 23 | €35,057 | €56,068 | +€21,011 | +59.9% |
| Furniture and vehicles | 24 | €43,752 | €26,284 | -€17,468 | -39.9% |
| Financial fixed assets | 28 | €60,000 | €82,500 | +€22,500 | +37.5% |
| Current assets | 29/58 | €267,430 | €256,869 | -€10,561 | -3.9% |
| Amounts receivable after more than one year | 29 | €71,333 | €71,333 | = | 0.0% |
| Other amounts receivable | 291 | €71,333 | €71,333 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €161,472 | €81,778 | -€79,694 | -49.4% |
| Trade receivables | 40 | €137,265 | €39,398 | -€97,867 | -71.3% |
| Other amounts receivable | 41 | €24,207 | €42,380 | +€18,173 | +75.1% |
| Cash at bank and in hand | 54/58 | €31,493 | €96,009 | +€64,516 | +204.9% |
| Deferred charges and accrued income | 490/1 | €3,132 | €7,749 | +€4,617 | +147.4% |
| Total equity and liabilities | 10/49 | €1,805,043 | €1,874,983 | +€69,940 | +3.9% |
| Equity | 10/15 | €752,309 | €893,305 | +€140,996 | +18.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €742,053 | €883,362 | +€141,308 | +19.0% |
| Distributable reserves | 133 | €742,053 | €883,362 | +€141,308 | +19.0% |
| Investment grants | 15 | €4,056 | €3,744 | -€312 | -7.7% |
| Provisions and deferred taxes | 16 | €1,351 | €1,247 | -€104 | -7.7% |
| Deferred taxes | 168 | €1,351 | €1,247 | -€104 | -7.7% |
| Amounts payable | 17/49 | €1,051,383 | €980,431 | -€70,952 | -6.7% |
| Amounts payable after more than one year | 17 | €208,490 | €174,547 | -€33,943 | -16.3% |
| Financial debts | 170/4 | €202,040 | €164,147 | -€37,893 | -18.8% |
| Other amounts payable | 178/9 | €6,450 | €10,400 | +€3,950 | +61.2% |
| Amounts payable within one year | 42/48 | €837,285 | €801,724 | -€35,562 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €49,141 | €64,813 | +€15,672 | +31.9% |
| Trade debts | 44 | €116,747 | €13,576 | -€103,170 | -88.4% |
| Suppliers | 440/4 | €116,747 | €13,576 | -€103,170 | -88.4% |
| Taxes, remuneration and social security | 45 | €43,353 | €35,275 | -€8,078 | -18.6% |
| Taxes | 450/3 | €43,353 | €35,275 | -€8,078 | -18.6% |
| Other amounts payable | 47/48 | €628,045 | €688,059 | +€60,015 | +9.6% |
| Accrued charges and deferred income | 492/3 | €5,608 | €4,160 | -€1,448 | -25.8% |
| Non-recurring operating income | 76A | €11,395 | - | -€11,395 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,018 | €84,653 | +€1,635 | +2.0% |
| Other operating charges | 640/8 | €8,983 | €10,029 | +€1,045 | +11.6% |
| Gross operating margin | 9900 | €292,326 | €360,794 | +€68,467 | +23.4% |
| Operating profit (loss) | 9901 | €200,325 | €266,112 | +€65,787 | +32.8% |
| Financial income | 75/76B | €859 | €6,929 | +€6,069 | +706.3% |
| Recurring financial income | 75 | €859 | €6,929 | +€6,069 | +706.3% |
| Financial charges | 65/66B | €16,599 | €61,111 | +€44,512 | +268.2% |
| Recurring financial charges | 65 | €16,599 | €61,111 | +€44,512 | +268.2% |
| Profit (loss) for the period before taxes | 9903 | €184,586 | €211,930 | +€27,344 | +14.8% |
| Transfer from deferred taxes | 780 | €104 | €104 | = | 0.0% |
| Income taxes | 67/77 | €10,837 | €70,726 | +€59,888 | +552.6% |
| Profit (loss) for the period | 9904 | €173,852 | €141,308 | -€32,544 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €173,852 | €141,308 | -€32,544 | -18.7% |
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 2 October 2026 via checked.be.