YAFE: 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.
YAFE
Largest movements
- Receivables within one year +€23,373
up €23,373 (+14.0%), from €167,519 to €190,893
of which Other amounts receivable: +€37,317
- Reserves +€46,244
up €46,244 (+21.3%), from €216,764 to €263,008
- Debts after one year -€23,325
down €23,325 (-15.4%), from €151,384 to €128,059
- Trade debts -€20,596
down €20,596 (-86.7%), from €23,763 to €3,167
- Tax, wage and social debts +€9,400
up €9,400 (+43.4%), from €21,652 to €31,052
- Gross operating margin -€65,523
down €65,523 (-47.1%), from €138,987 to €73,464
- Depreciation -€21,561
down €21,561 (-81.7%), from €26,381 to €4,820
- Taxes -€14,903
down €14,903 (-44.4%), from €33,585 to €18,681
- Financial charges +€5,433
up €5,433 (+139%), from €3,921 to €9,354
- Other operating charges +€1,479
up €1,479 (+79.1%), from €1,869 to €3,349
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €460,374 | €476,414 | +€16,041 | +3.5% |
| Fixed assets | 21/28 | €219,100 | €215,761 | -€3,339 | -1.5% |
| Tangible fixed assets | 22/27 | €219,100 | €215,761 | -€3,339 | -1.5% |
| Land and buildings | 22 | €214,850 | €210,615 | -€4,235 | -2.0% |
| Plant, machinery and equipment | 23 | €561 | €491 | -€70 | -12.5% |
| Furniture and vehicles | 24 | - | €1,371 | +€1,371 | |
| Other tangible fixed assets | 26 | €3,689 | €3,284 | -€405 | -11.0% |
| Current assets | 29/58 | €241,273 | €260,653 | +€19,380 | +8.0% |
| Amounts receivable after more than one year | 29 | €31,750 | €31,750 | = | 0.0% |
| Other amounts receivable | 291 | €31,750 | €31,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €167,519 | €190,893 | +€23,373 | +14.0% |
| Trade receivables | 40 | €54,417 | €40,473 | -€13,944 | -25.6% |
| Other amounts receivable | 41 | €113,102 | €150,420 | +€37,317 | +33.0% |
| Current investments | 50/53 | €33,000 | €33,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,177 | €2,905 | -€4,272 | -59.5% |
| Deferred charges and accrued income | 490/1 | €1,827 | €2,106 | +€279 | +15.3% |
| Total equity and liabilities | 10/49 | €460,374 | €476,414 | +€16,041 | +3.5% |
| Equity | 10/15 | €222,964 | €269,208 | +€46,244 | +20.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €216,764 | €263,008 | +€46,244 | +21.3% |
| Distributable reserves | 133 | €216,764 | €263,008 | +€46,244 | +21.3% |
| Amounts payable | 17/49 | €237,409 | €207,206 | -€30,203 | -12.7% |
| Amounts payable after more than one year | 17 | €151,384 | €128,059 | -€23,325 | -15.4% |
| Financial debts | 170/4 | €151,384 | €128,059 | -€23,325 | -15.4% |
| Amounts payable within one year | 42/48 | €85,991 | €78,739 | -€7,252 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €22,616 | €23,325 | +€709 | +3.1% |
| Financial debts | 43 | €3,959 | €7,195 | +€3,236 | +81.7% |
| Credit institutions | 430/8 | €2,770 | €1,911 | -€858 | -31.0% |
| Other loans | 439 | €1,190 | €5,284 | +€4,094 | +344% |
| Trade debts | 44 | €23,763 | €3,167 | -€20,596 | -86.7% |
| Suppliers | 440/4 | €23,763 | €3,167 | -€20,596 | -86.7% |
| Advances received on contracts in progress | 46 | €14,000 | €14,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €21,652 | €31,052 | +€9,400 | +43.4% |
| Taxes | 450/3 | €21,652 | €31,052 | +€9,400 | +43.4% |
| Accrued charges and deferred income | 492/3 | €35 | €408 | +€373 | +1,073% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,381 | €4,820 | -€21,561 | -81.7% |
| Other operating charges | 640/8 | €1,869 | €3,349 | +€1,479 | +79.1% |
| Gross operating margin | 9900 | €138,987 | €73,464 | -€65,523 | -47.1% |
| Operating profit (loss) | 9901 | €110,737 | €65,295 | -€45,441 | -41.0% |
| Financial income | 75/76B | €8,792 | €8,984 | +€192 | +2.2% |
| Recurring financial income | 75 | €8,792 | €8,984 | +€192 | +2.2% |
| Financial charges | 65/66B | €3,921 | €9,354 | +€5,433 | +139% |
| Recurring financial charges | 65 | €3,921 | €9,354 | +€5,433 | +139% |
| Profit (loss) for the period before taxes | 9903 | €115,608 | €64,925 | -€50,683 | -43.8% |
| Income taxes | 67/77 | €33,585 | €18,681 | -€14,903 | -44.4% |
| Profit (loss) for the period | 9904 | €82,023 | €46,244 | -€35,779 | -43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €82,023 | €46,244 | -€35,779 | -43.6% |
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 14 October 2026 via checked.be.