Afram Projecten: 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.
Afram Projecten
Largest movements
- Receivables within one year -€16,006
down €16,006 (-91.8%), from €17,431 to €1,425
- Stocks and contracts -€15,755
down €15,755 (-52.1%), from €30,258 to €14,503
- Tangible fixed assets -€14,318
down €14,318 (-5.8%), from €245,861 to €231,543
of which Furniture and vehicles: -€7,247
- Current investments +€3,851
new in 2025: €3,851
- Debts after one year -€17,874
down €17,874 (-10.2%), from €175,640 to €157,766
- Advances received -€10,731
no longer reported in 2025 (was €10,731)
- Trade debts -€8,196
down €8,196 (-98.6%), from €8,311 to €115
- Short-term financial debts -€7,351
no longer reported in 2025 (was €7,351)
- Other debts +€7,065
up €7,065 (+68.0%), from €10,385 to €17,450
- Write-downs +€11,755
new in 2025: €11,755
- Financial charges +€4,685
up €4,685 (+91.3%), from €5,133 to €9,818
- Gross operating margin +€3,424
up €3,424 (+9.1%), from €37,449 to €40,873
- Depreciation +€3,020
up €3,020 (+26.7%), from €11,298 to €14,318
- Taxes -€2,297
down €2,297 (-68.8%), from €3,341 to €1,044
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €296,667 | €253,210 | -€43,457 | -14.6% |
| Fixed assets | 21/28 | €245,861 | €231,543 | -€14,318 | -5.8% |
| Tangible fixed assets | 22/27 | €245,861 | €231,543 | -€14,318 | -5.8% |
| Land and buildings | 22 | €228,206 | €221,151 | -€7,055 | -3.1% |
| Plant, machinery and equipment | 23 | €16 | - | -€16 | |
| Furniture and vehicles | 24 | €17,639 | €10,392 | -€7,247 | -41.1% |
| Current assets | 29/58 | €50,806 | €21,667 | -€29,139 | -57.4% |
| Stocks and contracts in progress | 3 | €30,258 | €14,503 | -€15,755 | -52.1% |
| Stocks | 30/36 | €30,258 | €14,503 | -€15,755 | -52.1% |
| Amounts receivable within one year | 40/41 | €17,431 | €1,425 | -€16,006 | -91.8% |
| Trade receivables | 40 | €17,431 | €1,425 | -€16,006 | -91.8% |
| Current investments | 50/53 | - | €3,851 | +€3,851 | |
| Deferred charges and accrued income | 490/1 | €3,117 | €1,888 | -€1,229 | -39.4% |
| Total equity and liabilities | 10/49 | €296,667 | €253,210 | -€43,457 | -14.6% |
| Equity | 10/15 | €53,069 | €54,178 | +€1,109 | +2.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €52,969 | €54,078 | +€1,109 | +2.1% |
| Non-distributable reserves | 130/1 | €52,969 | €54,078 | +€1,109 | +2.1% |
| Other | 1319 | €52,969 | €54,078 | +€1,109 | +2.1% |
| Amounts payable | 17/49 | €243,598 | €199,032 | -€44,566 | -18.3% |
| Amounts payable after more than one year | 17 | €175,640 | €157,766 | -€17,874 | -10.2% |
| Financial debts | 170/4 | €175,640 | €157,766 | -€17,874 | -10.2% |
| Amounts payable within one year | 42/48 | €67,958 | €41,266 | -€26,692 | -39.3% |
| Current portion of amounts payable after more than one year | 42 | €18,735 | €17,873 | -€862 | -4.6% |
| Financial debts | 43 | €7,351 | - | -€7,351 | |
| Credit institutions | 430/8 | €7,351 | - | -€7,351 | |
| Trade debts | 44 | €8,311 | €115 | -€8,196 | -98.6% |
| Suppliers | 440/4 | €8,311 | €115 | -€8,196 | -98.6% |
| Advances received on contracts in progress | 46 | €10,731 | - | -€10,731 | |
| Taxes, remuneration and social security | 45 | €12,445 | €5,828 | -€6,617 | -53.2% |
| Taxes | 450/3 | €12,445 | €5,828 | -€6,617 | -53.2% |
| Other amounts payable | 47/48 | €10,385 | €17,450 | +€7,065 | +68.0% |
| Remuneration, social security and pensions | 62 | €1,399 | - | -€1,399 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,298 | €14,318 | +€3,020 | +26.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,755 | +€11,755 | |
| Other operating charges | 640/8 | €1,963 | €2,829 | +€866 | +44.1% |
| Non-recurring operating charges | 66A | €4,310 | - | -€4,310 | |
| Gross operating margin | 9900 | €37,449 | €40,873 | +€3,424 | +9.1% |
| Operating profit (loss) | 9901 | €18,479 | €11,971 | -€6,508 | -35.2% |
| Financial charges | 65/66B | €5,133 | €9,818 | +€4,685 | +91.3% |
| Recurring financial charges | 65 | €5,133 | €9,818 | +€4,685 | +91.3% |
| Profit (loss) for the period before taxes | 9903 | €13,346 | €2,153 | -€11,193 | -83.9% |
| Income taxes | 67/77 | €3,341 | €1,044 | -€2,297 | -68.8% |
| Profit (loss) for the period | 9904 | €10,005 | €1,109 | -€8,896 | -88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,005 | €1,109 | -€8,896 | -88.9% |
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 5 October 2026 via checked.be.