ATFX: 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.
ATFX
Largest movements
- Receivables within one year +€91,052
up €91,052 (+62.9%), from €144,685 to €235,737
of which Other amounts receivable: +€235,737
- Tangible fixed assets -€70,812
down €70,812 (-2.0%), from €3.5m to €3.4m
of which Land and buildings: -€93,375
- Cash -€40,714
down €40,714 (-80.6%), from €50,503 to €9,789
mainly Debts after one year (-€106,623) and Receivables within one year (-€91,052)
- Debts after one year -€106,623
down €106,623 (-4.6%), from €2.3m to €2.2m
of which Financial debts: -€112,623
- Profit (loss) carried forward +€58,515
up €58,515 (+22.1%), from -€264,629 to -€206,113
- Depreciation -€256,821
down €256,821 (-73.2%), from €351,014 to €94,193
- Gross operating margin +€87,526
up €87,526 (+49.7%), from €176,235 to €263,761
- Financial charges +€16,729
up €16,729 (+22.8%), from €73,325 to €90,054
- Other operating charges +€4,474
up €4,474 (+27.1%), from €16,525 to €20,999
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 | €3,701,679 | €3,681,205 | -€20,474 | -0.6% |
| Fixed assets | 21/28 | €3,506,491 | €3,435,679 | -€70,812 | -2.0% |
| Tangible fixed assets | 22/27 | €3,506,491 | €3,435,679 | -€70,812 | -2.0% |
| Land and buildings | 22 | €3,499,739 | €3,406,364 | -€93,375 | -2.7% |
| Plant, machinery and equipment | 23 | €6,752 | €29,315 | +€22,563 | +334.1% |
| Current assets | 29/58 | €195,188 | €245,526 | +€50,338 | +25.8% |
| Amounts receivable within one year | 40/41 | €144,685 | €235,737 | +€91,052 | +62.9% |
| Trade receivables | 40 | €144,685 | - | -€144,685 | |
| Other amounts receivable | 41 | - | €235,737 | +€235,737 | |
| Cash at bank and in hand | 54/58 | €50,503 | €9,789 | -€40,714 | -80.6% |
| Total equity and liabilities | 10/49 | €3,701,679 | €3,681,205 | -€20,474 | -0.6% |
| Equity | 10/15 | €1,245,371 | €1,303,887 | +€58,515 | +4.7% |
| Contributions | 10/11 | €1,510,000 | €1,510,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€264,629 | -€206,113 | +€58,515 | +22.1% |
| Amounts payable | 17/49 | €2,456,308 | €2,377,318 | -€78,989 | -3.2% |
| Amounts payable after more than one year | 17 | €2,339,127 | €2,232,505 | -€106,623 | -4.6% |
| Financial debts | 170/4 | €2,103,902 | €1,991,280 | -€112,623 | -5.4% |
| Other amounts payable | 178/9 | €235,225 | €241,225 | +€6,000 | +2.6% |
| Amounts payable within one year | 42/48 | €116,793 | €143,815 | +€27,022 | +23.1% |
| Current portion of amounts payable after more than one year | 42 | €112,393 | €112,623 | +€230 | +0.2% |
| Trade debts | 44 | €4,400 | €29,757 | +€25,357 | +576.2% |
| Suppliers | 440/4 | €4,400 | €29,757 | +€25,357 | +576.2% |
| Taxes, remuneration and social security | 45 | - | €1,369 | +€1,369 | |
| Taxes | 450/3 | - | €1,369 | +€1,369 | |
| Other amounts payable | 47/48 | - | €66 | +€66 | |
| Accrued charges and deferred income | 492/3 | €387 | €998 | +€611 | +157.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €351,014 | €94,193 | -€256,821 | -73.2% |
| Other operating charges | 640/8 | €16,525 | €20,999 | +€4,474 | +27.1% |
| Gross operating margin | 9900 | €176,235 | €263,761 | +€87,526 | +49.7% |
| Operating profit (loss) | 9901 | -€191,304 | €148,569 | +€339,872 | |
| Financial charges | 65/66B | €73,325 | €90,054 | +€16,729 | +22.8% |
| Recurring financial charges | 65 | €73,325 | €90,054 | +€16,729 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | -€264,629 | €58,515 | +€323,144 | |
| Profit (loss) for the period | 9904 | -€264,629 | €58,515 | +€323,144 | |
| Profit (loss) for the period to be appropriated | 9905 | -€264,629 | €58,515 | +€323,144 |
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 10 October 2026 via checked.be.