AFSB: 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.
AFSB
Largest movements
- Cash +€339,832
up €339,832 (+808.6%), from €42,025 to €381,857
mainly Current investments (+€300,000) and Net result for the year (+€95,943)
- Current investments -€300,000
down €300,000 (-100.0%), from €300,000 to €0
- Tangible fixed assets -€23,794
down €23,794 (-6.4%), from €370,462 to €346,668
of which Land and buildings: -€13,369
- Reserves +€18,050
up €18,050 (+2.0%), from €896,172 to €914,222
- Gross operating margin +€17,886
up €17,886 (+11.3%), from €158,057 to €175,943
- Financial income -€5,191
down €5,191 (-48.4%), from €10,728 to €5,537
- Taxes +€4,019
up €4,019 (+11.7%), from €34,307 to €38,327
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 | €928,882 | €944,939 | +€16,058 | +1.7% |
| Fixed assets | 21/28 | €374,462 | €350,668 | -€23,794 | -6.4% |
| Tangible fixed assets | 22/27 | €370,462 | €346,668 | -€23,794 | -6.4% |
| Land and buildings | 22 | €357,912 | €344,543 | -€13,369 | -3.7% |
| Plant, machinery and equipment | 23 | €2,348 | €1,761 | -€587 | -25.0% |
| Furniture and vehicles | 24 | €10,202 | €364 | -€9,838 | -96.4% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €554,419 | €594,271 | +€39,851 | +7.2% |
| Amounts receivable within one year | 40/41 | €203,343 | €199,516 | -€3,827 | -1.9% |
| Trade receivables | 40 | €15,627 | €17,272 | +€1,645 | +10.5% |
| Other amounts receivable | 41 | €187,716 | €182,244 | -€5,472 | -2.9% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €42,025 | €381,857 | +€339,832 | +808.6% |
| Deferred charges and accrued income | 490/1 | €9,051 | €12,898 | +€3,847 | +42.5% |
| Total equity and liabilities | 10/49 | €928,882 | €944,939 | +€16,058 | +1.7% |
| Equity | 10/15 | €908,572 | €926,622 | +€18,050 | +2.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €896,172 | €914,222 | +€18,050 | +2.0% |
| Distributable reserves | 133 | €896,172 | €914,222 | +€18,050 | +2.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,309 | €18,317 | -€1,992 | -9.8% |
| Amounts payable after more than one year | 17 | €1,100 | €3,090 | +€1,990 | +180.9% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €1,100 | €3,090 | +€1,990 | +180.9% |
| Amounts payable within one year | 42/48 | €18,494 | €14,407 | -€4,088 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €8,981 | €0 | -€8,981 | -100.0% |
| Trade debts | 44 | €920 | €860 | -€61 | -6.6% |
| Suppliers | 440/4 | €920 | €860 | -€61 | -6.6% |
| Taxes, remuneration and social security | 45 | €8,593 | €13,547 | +€4,954 | +57.7% |
| Taxes | 450/3 | €8,593 | €13,547 | +€4,954 | +57.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €715 | €821 | +€106 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,844 | €35,609 | -€235 | -0.7% |
| Other operating charges | 640/8 | €10,747 | €11,060 | +€313 | +2.9% |
| Gross operating margin | 9900 | €158,057 | €175,943 | +€17,886 | +11.3% |
| Operating profit (loss) | 9901 | €111,466 | €129,275 | +€17,808 | +16.0% |
| Financial income | 75/76B | €10,728 | €5,537 | -€5,191 | -48.4% |
| Recurring financial income | 75 | €10,728 | €5,537 | -€5,191 | -48.4% |
| Financial charges | 65/66B | €593 | €542 | -€51 | -8.7% |
| Recurring financial charges | 65 | €593 | €542 | -€51 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €121,601 | €134,270 | +€12,669 | +10.4% |
| Income taxes | 67/77 | €34,307 | €38,327 | +€4,019 | +11.7% |
| Profit (loss) for the period | 9904 | €87,294 | €95,943 | +€8,649 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €87,294 | €95,943 | +€8,649 | +9.9% |
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 29 September 2026 via checked.be.