AFRIT 22: 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.
AFRIT 22
Largest movements
- Financial fixed assets +€1.1m
new in 2025: €1.1m
- Receivables after one year +€260,000
up €260,000 (+248.8%), from €104,500 to €364,500
- Cash +€128,675
up €128,675 (+63.9%), from €201,315 to €329,990
mainly Short-term financial debts (+€725,000) and Net result for the year (+€410,886)
- Tangible fixed assets -€51,464
down €51,464 (-7.6%), from €674,922 to €623,458
- Short-term financial debts +€725,000
new in 2025: €725,000
- Reserves +€395,128
up €395,128 (+259.9%), from €152,003 to €547,131
of which Distributable reserves: +€396,022
- Debts after one year +€133,667
up €133,667 (+27.5%), from €485,900 to €619,567
of which Financial debts: +€133,667
- Current portion of long-term debt +€65,417
new in 2025: €65,417
- Other debts +€58,900
up €58,900 (+33.9%), from €173,968 to €232,868
- Gross operating margin +€437,869
up €437,869 (+295.9%), from €148,000 to €585,869
- Taxes +€120,399
new in 2025: €120,399
- Financial charges +€12,881
up €12,881 (+148.0%), from €8,704 to €21,585
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 | €981,017 | €2,395,882 | +€1.4m | +144.2% |
| Fixed assets | 21/28 | €674,922 | €1,700,406 | +€1.0m | +151.9% |
| Tangible fixed assets | 22/27 | €674,922 | €623,458 | -€51,464 | -7.6% |
| Land and buildings | 22 | €674,922 | €623,458 | -€51,464 | -7.6% |
| Financial fixed assets | 28 | - | €1,076,949 | +€1.1m | |
| Current assets | 29/58 | €306,095 | €695,476 | +€389,381 | +127.2% |
| Amounts receivable after more than one year | 29 | €104,500 | €364,500 | +€260,000 | +248.8% |
| Other amounts receivable | 291 | €104,500 | €364,500 | +€260,000 | +248.8% |
| Cash at bank and in hand | 54/58 | €201,315 | €329,990 | +€128,675 | +63.9% |
| Deferred charges and accrued income | 490/1 | €280 | €986 | +€706 | +252.4% |
| Total equity and liabilities | 10/49 | €981,017 | €2,395,882 | +€1.4m | +144.2% |
| Equity | 10/15 | €286,245 | €697,131 | +€410,886 | +143.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €152,003 | €547,131 | +€395,128 | +259.9% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €96,380 | €95,487 | -€894 | -0.9% |
| Distributable reserves | 133 | €40,622 | €436,644 | +€396,022 | +974.9% |
| Profit (loss) carried forward | 14 | -€15,758 | - | +€15,758 | |
| Provisions and deferred taxes | 16 | €32,127 | €31,829 | -€298 | -0.9% |
| Deferred taxes | 168 | €32,127 | €31,829 | -€298 | -0.9% |
| Amounts payable | 17/49 | €662,645 | €1,666,923 | +€1.0m | +151.6% |
| Amounts payable after more than one year | 17 | €485,900 | €619,567 | +€133,667 | +27.5% |
| Financial debts | 170/4 | €423,900 | €557,567 | +€133,667 | +31.5% |
| Other amounts payable | 178/9 | €62,000 | €62,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €176,745 | €1,047,356 | +€870,611 | +492.6% |
| Current portion of amounts payable after more than one year | 42 | - | €65,417 | +€65,417 | |
| Financial debts | 43 | - | €725,000 | +€725,000 | |
| Credit institutions | 430/8 | - | €725,000 | +€725,000 | |
| Trade debts | 44 | €2,777 | €3,672 | +€895 | +32.2% |
| Suppliers | 440/4 | €2,777 | €3,672 | +€895 | +32.2% |
| Taxes, remuneration and social security | 45 | - | €20,399 | +€20,399 | |
| Taxes | 450/3 | - | €20,399 | +€20,399 | |
| Other amounts payable | 47/48 | €173,968 | €232,868 | +€58,900 | +33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,331 | €28,860 | +€5,529 | +23.7% |
| Other operating charges | 640/8 | €3,231 | €4,438 | +€1,207 | +37.4% |
| Gross operating margin | 9900 | €148,000 | €585,869 | +€437,869 | +295.9% |
| Operating profit (loss) | 9901 | €121,438 | €552,571 | +€431,133 | +355.0% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €8,704 | €21,585 | +€12,881 | +148.0% |
| Recurring financial charges | 65 | €8,704 | €21,585 | +€12,881 | +148.0% |
| Profit (loss) for the period before taxes | 9903 | €112,749 | €530,987 | +€418,237 | +370.9% |
| Transfer from deferred taxes | 780 | - | €298 | +€298 | |
| Transfer to deferred taxes | 680 | €32,127 | - | -€32,127 | |
| Income taxes | 67/77 | - | €120,399 | +€120,399 | |
| Profit (loss) for the period | 9904 | €80,622 | €410,886 | +€330,263 | +409.6% |
| Transfer from tax-exempt reserves | 789 | - | €894 | +€894 | |
| Transfer to tax-exempt reserves | 689 | €96,380 | - | -€96,380 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,758 | €411,779 | +€427,537 |
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 10 October 2026 via checked.be.