ATFJ: 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.
ATFJ
Largest movements
- Tangible fixed assets -€63,582
down €63,582 (-6.3%), from €1.0m to €937,787
of which Land and buildings: -€35,221
- Receivables within one year -€15,053
down €15,053 (-16.0%), from €94,147 to €79,095
of which Other amounts receivable: -€34,359
- Accrued charges and deferred income +€53,341
up €53,341 (+1444.5%), from €3,693 to €57,034
- Trade debts -€51,588
down €51,588 (-40.0%), from €128,948 to €77,360
- Reserves -€45,768
no longer reported in 2025 (was €45,768)
- Short-term financial debts -€36,927
down €36,927 (-39.4%), from €93,829 to €56,902
- Debts after one year -€18,699
down €18,699 (-2.7%), from €683,299 to €664,600
- Staff costs +€51,399
up €51,399 (+28.6%), from €179,756 to €231,156
- Other operating charges +€27,159
up €27,159 (+1507.9%), from €1,801 to €28,961
- Gross operating margin +€27,047
up €27,047 (+10.0%), from €270,513 to €297,560
- Financial charges +€4,847
up €4,847 (+16.9%), from €28,760 to €33,607
- Depreciation +€4,192
up €4,192 (+7.1%), from €59,090 to €63,282
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 | €1,138,092 | €1,057,899 | -€80,193 | -7.0% |
| Fixed assets | 21/28 | €1,002,954 | €937,787 | -€65,166 | -6.5% |
| Tangible fixed assets | 22/27 | €1,001,370 | €937,787 | -€63,582 | -6.3% |
| Land and buildings | 22 | €899,660 | €864,438 | -€35,221 | -3.9% |
| Plant, machinery and equipment | 23 | €85,565 | €63,582 | -€21,983 | -25.7% |
| Furniture and vehicles | 24 | €6,786 | €4,657 | -€2,129 | -31.4% |
| Other tangible fixed assets | 26 | €9,359 | €5,110 | -€4,249 | -45.4% |
| Financial fixed assets | 28 | €1,584 | - | -€1,584 | |
| Current assets | 29/58 | €135,139 | €120,111 | -€15,027 | -11.1% |
| Stocks and contracts in progress | 3 | €35,255 | €35,363 | +€108 | +0.3% |
| Stocks | 30/36 | €35,255 | €35,363 | +€108 | +0.3% |
| Amounts receivable within one year | 40/41 | €94,147 | €79,095 | -€15,053 | -16.0% |
| Trade receivables | 40 | €59,772 | €79,079 | +€19,306 | +32.3% |
| Other amounts receivable | 41 | €34,375 | €16 | -€34,359 | -100.0% |
| Cash at bank and in hand | 54/58 | €166 | €168 | +€2 | +1.4% |
| Deferred charges and accrued income | 490/1 | €5,570 | €5,486 | -€85 | -1.5% |
| Total equity and liabilities | 10/49 | €1,138,092 | €1,057,899 | -€80,193 | -7.0% |
| Equity | 10/15 | €111,968 | €54,053 | -€57,915 | -51.7% |
| Contributions | 10/11 | €66,200 | €66,200 | = | 0.0% |
| Outside capital | 11 | €66,200 | €66,200 | = | 0.0% |
| Other | 1109/19 | €66,200 | €66,200 | = | 0.0% |
| Reserves | 13 | €45,768 | - | -€45,768 | |
| Distributable reserves | 133 | €45,768 | - | -€45,768 | |
| Profit (loss) carried forward | 14 | - | -€12,147 | -€12,147 | |
| Amounts payable | 17/49 | €1,026,124 | €1,003,846 | -€22,278 | -2.2% |
| Amounts payable after more than one year | 17 | €683,299 | €664,600 | -€18,699 | -2.7% |
| Financial debts | 170/4 | €683,299 | €664,600 | -€18,699 | -2.7% |
| Amounts payable within one year | 42/48 | €339,132 | €282,212 | -€56,920 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €53,843 | €63,639 | +€9,796 | +18.2% |
| Financial debts | 43 | €93,829 | €56,902 | -€36,927 | -39.4% |
| Credit institutions | 430/8 | €93,829 | €56,902 | -€36,927 | -39.4% |
| Trade debts | 44 | €128,948 | €77,360 | -€51,588 | -40.0% |
| Suppliers | 440/4 | €128,948 | €77,360 | -€51,588 | -40.0% |
| Taxes, remuneration and social security | 45 | €19,362 | €37,167 | +€17,805 | +92.0% |
| Taxes | 450/3 | €1,141 | €18,259 | +€17,118 | +1500.9% |
| Remuneration and social security | 454/9 | €18,222 | €18,908 | +€686 | +3.8% |
| Other amounts payable | 47/48 | €43,150 | €47,144 | +€3,994 | +9.3% |
| Accrued charges and deferred income | 492/3 | €3,693 | €57,034 | +€53,341 | +1444.5% |
| Remuneration, social security and pensions | 62 | €179,756 | €231,156 | +€51,399 | +28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,090 | €63,282 | +€4,192 | +7.1% |
| Other operating charges | 640/8 | €1,801 | €28,961 | +€27,159 | +1507.9% |
| Non-recurring operating charges | 66A | - | €207 | +€207 | |
| Gross operating margin | 9900 | €270,513 | €297,560 | +€27,047 | +10.0% |
| Operating profit (loss) | 9901 | €29,866 | -€26,045 | -€55,911 | |
| Financial income | 75/76B | €294 | €1,874 | +€1,580 | +537.2% |
| Recurring financial income | 75 | €294 | €1,874 | +€1,580 | +537.2% |
| Financial charges | 65/66B | €28,760 | €33,607 | +€4,847 | +16.9% |
| Recurring financial charges | 65 | €28,760 | €33,607 | +€4,847 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €1,400 | -€57,778 | -€59,177 | |
| Income taxes | 67/77 | €127 | €138 | +€11 | +8.4% |
| Profit (loss) for the period | 9904 | €1,273 | -€57,915 | -€59,188 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,273 | -€57,915 | -€59,188 |
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.