Afterburn: 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.
Afterburn
Largest movements
- Tangible fixed assets -€43,295
down €43,295 (-14.1%), from €308,053 to €264,758
- Intangible fixed assets -€34,305
down €34,305 (-21.3%), from €160,938 to €126,633
- Profit (loss) carried forward -€78,255
down €78,255 (-20.6%), from -€379,415 to -€457,670
- Current portion of long-term debt +€41,141
up €41,141 (+29.0%), from €141,967 to €183,108
- Debts after one year -€38,417
down €38,417 (-12.0%), from €321,408 to €282,991
- Accrued charges and deferred income +€9,275
up €9,275 (+24.9%), from €37,260 to €46,535
- Trade debts -€6,928
down €6,928 (-12.3%), from €56,530 to €49,602
- Gross operating margin +€17,419
up €17,419 (+31.4%), from €55,491 to €72,911
- Depreciation +€9,598
up €9,598 (+12.9%), from €74,614 to €84,212
- Financial charges +€2,494
up €2,494 (+13.4%), from €18,649 to €21,143
- Staff costs +€1,636
up €1,636 (+5.0%), from €32,521 to €34,157
- Other operating charges +€1,377
up €1,377 (+13.3%), from €10,391 to €11,769
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 | €489,036 | €412,910 | -€76,125 | -15.6% |
| Fixed assets | 21/28 | €468,991 | €391,390 | -€77,601 | -16.5% |
| Intangible fixed assets | 21 | €160,938 | €126,633 | -€34,305 | -21.3% |
| Tangible fixed assets | 22/27 | €308,053 | €264,758 | -€43,295 | -14.1% |
| Land and buildings | 22 | €168,932 | €148,462 | -€20,470 | -12.1% |
| Plant, machinery and equipment | 23 | €48,586 | €42,063 | -€6,523 | -13.4% |
| Leasing and similar rights | 25 | €31,436 | €23,784 | -€7,652 | -24.3% |
| Other tangible fixed assets | 26 | €59,099 | €50,449 | -€8,650 | -14.6% |
| Current assets | 29/58 | €20,045 | €21,520 | +€1,475 | +7.4% |
| Stocks and contracts in progress | 3 | - | €444 | +€444 | |
| Stocks | 30/36 | - | €444 | +€444 | |
| Amounts receivable within one year | 40/41 | €3,025 | €5,071 | +€2,046 | +67.7% |
| Trade receivables | 40 | €2,548 | €4,002 | +€1,454 | +57.1% |
| Other amounts receivable | 41 | €477 | €1,069 | +€592 | +124.2% |
| Cash at bank and in hand | 54/58 | €13,075 | €13,795 | +€720 | +5.5% |
| Deferred charges and accrued income | 490/1 | €3,945 | €2,210 | -€1,735 | -44.0% |
| Total equity and liabilities | 10/49 | €489,036 | €412,910 | -€76,125 | -15.6% |
| Equity | 10/15 | -€79,415 | -€157,670 | -€78,255 | -98.5% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€379,415 | -€457,670 | -€78,255 | -20.6% |
| Amounts payable | 17/49 | €568,451 | €570,580 | +€2,129 | +0.4% |
| Amounts payable after more than one year | 17 | €321,408 | €282,991 | -€38,417 | -12.0% |
| Financial debts | 170/4 | €321,408 | €282,991 | -€38,417 | -12.0% |
| Amounts payable within one year | 42/48 | €209,783 | €241,055 | +€31,272 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €141,967 | €183,108 | +€41,141 | +29.0% |
| Trade debts | 44 | €56,530 | €49,602 | -€6,928 | -12.3% |
| Suppliers | 440/4 | €56,530 | €49,602 | -€6,928 | -12.3% |
| Taxes, remuneration and social security | 45 | €2,111 | €4,069 | +€1,958 | +92.8% |
| Taxes | 450/3 | €2,046 | €1,078 | -€968 | -47.3% |
| Remuneration and social security | 454/9 | €65 | €2,991 | +€2,926 | +4528.4% |
| Other amounts payable | 47/48 | €9,175 | €4,276 | -€4,899 | -53.4% |
| Accrued charges and deferred income | 492/3 | €37,260 | €46,535 | +€9,275 | +24.9% |
| Remuneration, social security and pensions | 62 | €32,521 | €34,157 | +€1,636 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,614 | €84,212 | +€9,598 | +12.9% |
| Other operating charges | 640/8 | €10,391 | €11,769 | +€1,377 | +13.3% |
| Gross operating margin | 9900 | €55,491 | €72,911 | +€17,419 | +31.4% |
| Operating profit (loss) | 9901 | -€62,034 | -€57,226 | +€4,808 | +7.8% |
| Financial income | 75/76B | €289 | €144 | -€145 | -50.1% |
| Recurring financial income | 75 | €289 | €144 | -€145 | -50.1% |
| Financial charges | 65/66B | €18,649 | €21,143 | +€2,494 | +13.4% |
| Recurring financial charges | 65 | €18,649 | €21,143 | +€2,494 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | -€80,395 | -€78,225 | +€2,170 | +2.7% |
| Income taxes | 67/77 | - | €29 | +€29 | |
| Profit (loss) for the period | 9904 | -€80,395 | -€78,255 | +€2,141 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,395 | -€78,255 | +€2,141 | +2.7% |
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 5 October 2026 via checked.be.