AFRIRAIL: 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.
AFRIRAIL
Largest movements
- Receivables within one year +€21,458
up €21,458 (+35.8%), from €59,914 to €81,372
of which Trade receivables: +€21,656
- Cash +€20,113
up €20,113 (+138.0%), from €14,571 to €34,684
mainly Accrued charges and deferred income (+€44,348) and Trade debts (+€7,178)
- Accrued charges and deferred income +€44,348
up €44,348 (+169.4%), from €26,177 to €70,525
- Profit (loss) carried forward -€7,989
down €7,989 (-6.8%), from -€116,652 to -€124,641
- Trade debts +€7,178
up €7,178 (+1631.4%), from €440 to €7,618
- Tax, wage and social debts -€2,135
down €2,135 (-96.1%), from €2,222 to €87
- Gross operating margin +€40,652
up €40,652 (+84.2%), from -€48,252 to -€7,600
- Staff costs -€502
down €502, from €62 to -€440
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 | €75,826 | €117,228 | +€41,402 | +54.6% |
| Fixed assets | 21/28 | €394 | €224 | -€170 | -43.1% |
| Financial fixed assets | 28 | €394 | €224 | -€170 | -43.1% |
| Current assets | 29/58 | €75,432 | €117,004 | +€41,572 | +55.1% |
| Amounts receivable within one year | 40/41 | €59,914 | €81,372 | +€21,458 | +35.8% |
| Trade receivables | 40 | €59,434 | €81,090 | +€21,656 | +36.4% |
| Other amounts receivable | 41 | €480 | €282 | -€198 | -41.3% |
| Current investments | 50/53 | €98 | €99 | +€1 | +1.0% |
| Cash at bank and in hand | 54/58 | €14,571 | €34,684 | +€20,113 | +138.0% |
| Deferred charges and accrued income | 490/1 | €849 | €849 | = | 0.0% |
| Total equity and liabilities | 10/49 | €75,826 | €117,228 | +€41,402 | +54.6% |
| Equity | 10/15 | €3,808 | -€4,181 | -€7,989 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,860 | €101,860 | = | 0.0% |
| Distributable reserves | 133 | €101,860 | €101,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,652 | -€124,641 | -€7,989 | -6.8% |
| Amounts payable | 17/49 | €72,018 | €121,409 | +€49,391 | +68.6% |
| Amounts payable within one year | 42/48 | €45,841 | €50,884 | +€5,043 | +11.0% |
| Trade debts | 44 | €440 | €7,618 | +€7,178 | +1631.4% |
| Suppliers | 440/4 | €440 | €7,618 | +€7,178 | +1631.4% |
| Taxes, remuneration and social security | 45 | €2,222 | €87 | -€2,135 | -96.1% |
| Remuneration and social security | 454/9 | €2,222 | €87 | -€2,135 | -96.1% |
| Other amounts payable | 47/48 | €43,179 | €43,179 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €26,177 | €70,525 | +€44,348 | +169.4% |
| Remuneration, social security and pensions | 62 | €62 | -€440 | -€502 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122 | - | -€122 | |
| Other operating charges | 640/8 | €542 | €559 | +€17 | +3.1% |
| Gross operating margin | 9900 | -€48,252 | -€7,600 | +€40,652 | +84.2% |
| Operating profit (loss) | 9901 | -€48,978 | -€7,719 | +€41,259 | +84.2% |
| Financial income | 75/76B | €254 | €1 | -€253 | -99.6% |
| Recurring financial income | 75 | €254 | €1 | -€253 | -99.6% |
| Financial charges | 65/66B | €219 | €271 | +€52 | +23.7% |
| Recurring financial charges | 65 | €219 | €271 | +€52 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | -€48,943 | -€7,989 | +€40,954 | +83.7% |
| Profit (loss) for the period | 9904 | -€48,943 | -€7,989 | +€40,954 | +83.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,943 | -€7,989 | +€40,954 | +83.7% |
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 4 October 2026 via checked.be.