ATF BELGIUM: 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.
What changed
ATF BELGIUM
NACE 47.716, Retail sale of clothing and accessories for women, men, children and babies (general range)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€181,968
2024 · €924,603-€742,635
Equity
€2.8m
2024 · €2.7m+€181,968
Cash
€2.6m
2024 · €2.9m-€326,292
Balance sheet total
€5.2m
2024 · €5.2m+€10,496
Largest movements
Assets
- Cash -€326,292
down €326,292 (-11.3%), from €2.9m to €2.6m
mainly Other debts (-€720,232) and Investment in fixed assets (net) (-€514,608)
- Tangible fixed assets +€289,819
up €289,819 (+29.5%), from €982,298 to €1.3m
of which Other tangible fixed assets: +€283,440
Equity and liabilities
- Other debts -€720,232
down €720,232 (-80.0%), from €900,000 to €179,768
- Trade debts +€498,920
up €498,920 (+42.2%), from €1.2m to €1.7m
- Profit (loss) carried forward +€181,968
up €181,968, from -€181,968 to €0
Income statement
- Depreciation +€90,173
up €90,173 (+68.3%), from €132,027 to €222,200
- Gross operating margin +€85,893
up €85,893 (+3.7%), from €2.3m to €2.4m
- Staff costs +€51,951
up €51,951 (+4.2%), from €1.2m to €1.3m
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.
Result 2024
€924,603
Gross operating margin
+€85,893
Staff costs
-€51,951
Depreciation
-€90,173
Write-downs
-€4,675
Provisions
+€9,007
Other operating charges
-€8,465
Other operating items
-€680,592
Financial income
-€691
Financial charges
-€1,253
Taxes
+€263
Result 2025
€181,968
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€188,317
Investment
-€514,608
Financing
€0
Cash 2024
€2.9m
From operations (derived)
+€188,317
Net result for the year
+€181,968
Depreciation
+€222,200
Stocks and contracts
-€45,043
Receivables within one year
+€36,469
Deferred charges and accrued income
-€35,805
Provisions
-€8,067
Trade debts
+€498,920
Tax, wage and social debts
+€43,369
Advances received
+€13,946
Other debts
-€720,232
Accrued charges and deferred income
+€593
Investment (derived)
-€514,608
Investment in fixed assets (net)
-€514,608
Cash 2025
€2.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,235,153 | €5,245,649 | +€10,496 | +0.2% |
| Fixed assets | 21/28 | €1,318,685 | €1,611,093 | +€292,408 | +22.2% |
| Tangible fixed assets | 22/27 | €982,298 | €1,272,117 | +€289,819 | +29.5% |
| Furniture and vehicles | 24 | €33,977 | €51,355 | +€17,379 | +51.1% |
| Other tangible fixed assets | 26 | €937,321 | €1,220,761 | +€283,440 | +30.2% |
| Assets under construction and advance payments | 27 | €11,000 | €0 | -€11,000 | -100% |
| Financial fixed assets | 28 | €336,387 | €338,976 | +€2,589 | +0.8% |
| Current assets | 29/58 | €3,916,468 | €3,634,556 | -€281,913 | -7.2% |
| Stocks and contracts in progress | 3 | €616,870 | €661,913 | +€45,043 | +7.3% |
| Stocks | 30/36 | €616,870 | €661,913 | +€45,043 | +7.3% |
| Amounts receivable within one year | 40/41 | €61,417 | €24,948 | -€36,469 | -59.4% |
| Trade receivables | 40 | €46,552 | €10,083 | -€36,469 | -78.3% |
| Other amounts receivable | 41 | €14,866 | €14,866 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,889,686 | €2,563,394 | -€326,292 | -11.3% |
| Deferred charges and accrued income | 490/1 | €348,495 | €384,300 | +€35,805 | +10.3% |
| Total equity and liabilities | 10/49 | €5,235,153 | €5,245,649 | +€10,496 | +0.2% |
| Equity | 10/15 | €2,651,232 | €2,833,200 | +€181,968 | +6.9% |
| Contributions | 10/11 | €2,712,000 | €2,712,000 | = | 0.0% |
| Capital | 10 | €2,712,000 | €2,712,000 | = | 0.0% |
| Issued capital | 100 | €2,712,000 | €2,712,000 | = | 0.0% |
| Reserves | 13 | €121,200 | €121,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €121,200 | €121,200 | = | 0.0% |
| Legal reserve | 130 | €121,200 | €121,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€181,968 | €0 | +€181,968 | |
| Provisions and deferred taxes | 16 | €43,518 | €35,451 | -€8,067 | -18.5% |
| Provisions for liabilities and charges | 160/5 | €43,518 | €35,451 | -€8,067 | -18.5% |
| Pensions and similar obligations | 160 | €12,000 | €0 | -€12,000 | -100% |
| Other liabilities and charges | 164/5 | €31,518 | €35,451 | +€3,933 | +12.5% |
| Amounts payable | 17/49 | €2,540,402 | €2,376,998 | -€163,405 | -6.4% |
| Amounts payable within one year | 42/48 | €2,535,680 | €2,371,683 | -€163,998 | -6.5% |
| Trade debts | 44 | €1,181,679 | €1,680,599 | +€498,920 | +42.2% |
| Suppliers | 440/4 | €1,181,679 | €1,680,599 | +€498,920 | +42.2% |
| Advances received on contracts in progress | 46 | €104,054 | €118,000 | +€13,946 | +13.4% |
| Taxes, remuneration and social security | 45 | €349,947 | €393,317 | +€43,369 | +12.4% |
| Taxes | 450/3 | €222,129 | €242,534 | +€20,405 | +9.2% |
| Remuneration and social security | 454/9 | €127,818 | €150,782 | +€22,964 | +18.0% |
| Other amounts payable | 47/48 | €900,000 | €179,768 | -€720,232 | -80.0% |
| Accrued charges and deferred income | 492/3 | €4,722 | €5,315 | +€593 | +12.6% |
| Non-recurring operating income | 76A | €50 | €0 | -€50 | -100% |
| Remuneration, social security and pensions | 62 | €1,225,884 | €1,277,834 | +€51,951 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,027 | €222,200 | +€90,173 | +68.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€491 | €4,184 | +€4,675 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €940 | -€8,067 | -€9,007 | |
| Other operating charges | 640/8 | €7,266 | €15,731 | +€8,465 | +117% |
| Non-recurring operating charges | 66A | - | €680,592 | +€680,592 | |
| Gross operating margin | 9900 | €2,331,446 | €2,417,339 | +€85,893 | +3.7% |
| Operating profit (loss) | 9901 | €965,821 | €224,866 | -€740,955 | -76.7% |
| Financial income | 75/76B | €3,723 | €3,032 | -€691 | -18.6% |
| Recurring financial income | 75 | €3,723 | €3,032 | -€691 | -18.6% |
| Financial charges | 65/66B | €44,085 | €45,338 | +€1,253 | +2.8% |
| Recurring financial charges | 65 | €44,085 | €45,313 | +€1,228 | +2.8% |
| Non-recurring financial charges | 66B | €0 | €25 | +€25 | |
| Profit (loss) for the period before taxes | 9903 | €925,458 | €182,560 | -€742,898 | -80.3% |
| Income taxes | 67/77 | €855 | €592 | -€263 | -30.7% |
| Profit (loss) for the period | 9904 | €924,603 | €181,968 | -€742,635 | -80.3% |
| Profit (loss) for the period to be appropriated | 9905 | €924,603 | €181,968 | -€742,635 | -80.3% |
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 30 October 2026 via checked.be.