AFSL INVEST: what changed
AFSL INVEST
Largest movements
- Receivables within one year +€42,452
up €42,452 (+618%), from €6,871 to €49,323
of which Trade receivables: +€24,237
- Tangible fixed assets -€5,191
down €5,191 (-25.0%), from €20,763 to €15,572
- Cash +€1,164
up €1,164 (+23.3%), from €4,987 to €6,150
mainly Net result for the year (+€27,622) and Tax, wage and social debts (+€7,075)
- Profit (loss) carried forward +€27,622
up €27,622 (+325%), from €8,497 to €36,119
- Tax, wage and social debts +€7,075
up €7,075 (+569%), from €1,243 to €8,318
- Trade debts +€5,729
up €5,729 (+199%), from €2,880 to €8,608
- Other debts -€2,000
no longer reported in 2025 (was €2,000)
- Gross operating margin +€26,273
up €26,273 (+97.3%), from €27,008 to €53,281
- Staff costs +€7,729
up €7,729 (+78.3%), from €9,874 to €17,603
- Other operating charges -€709
down €709 (-20.6%), from €3,446 to €2,737
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,620 | €71,046 | +€38,425 | +118% |
| Fixed assets | 21/28 | €20,763 | €15,572 | -€5,191 | -25.0% |
| Tangible fixed assets | 22/27 | €20,763 | €15,572 | -€5,191 | -25.0% |
| Furniture and vehicles | 24 | €20,763 | €15,572 | -€5,191 | -25.0% |
| Current assets | 29/58 | €11,858 | €55,474 | +€43,616 | +368% |
| Amounts receivable within one year | 40/41 | €6,871 | €49,323 | +€42,452 | +618% |
| Trade receivables | 40 | €6,333 | €30,570 | +€24,237 | +383% |
| Other amounts receivable | 41 | €538 | €18,753 | +€18,215 | +3,383% |
| Cash at bank and in hand | 54/58 | €4,987 | €6,150 | +€1,164 | +23.3% |
| Total equity and liabilities | 10/49 | €32,620 | €71,046 | +€38,425 | +118% |
| Equity | 10/15 | €26,497 | €54,119 | +€27,622 | +104% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,497 | €36,119 | +€27,622 | +325% |
| Amounts payable | 17/49 | €6,123 | €16,927 | +€10,804 | +176% |
| Amounts payable within one year | 42/48 | €6,123 | €16,927 | +€10,804 | +176% |
| Trade debts | 44 | €2,880 | €8,608 | +€5,729 | +199% |
| Suppliers | 440/4 | €2,880 | €8,608 | +€5,729 | +199% |
| Taxes, remuneration and social security | 45 | €1,243 | €8,318 | +€7,075 | +569% |
| Remuneration and social security | 454/9 | €1,243 | €8,318 | +€7,075 | +569% |
| Other amounts payable | 47/48 | €2,000 | - | -€2,000 | |
| Remuneration, social security and pensions | 62 | €9,874 | €17,603 | +€7,729 | +78.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,191 | €5,191 | = | 0.0% |
| Other operating charges | 640/8 | €3,446 | €2,737 | -€709 | -20.6% |
| Gross operating margin | 9900 | €27,008 | €53,281 | +€26,273 | +97.3% |
| Operating profit (loss) | 9901 | €8,497 | €27,751 | +€19,253 | +227% |
| Financial charges | 65/66B | - | €129 | +€129 | |
| Recurring financial charges | 65 | - | €129 | +€129 | |
| Profit (loss) for the period before taxes | 9903 | €8,497 | €27,622 | +€19,124 | +225% |
| Profit (loss) for the period | 9904 | €8,497 | €27,622 | +€19,124 | +225% |
| Profit (loss) for the period to be appropriated | 9905 | €8,497 | €27,622 | +€19,124 | +225% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.