YEAFA: 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.
YEAFA
Largest movements
- Current investments +€2.5m
up €2.5m, from €0 to €2.5m
- Cash -€1.6m
down €1.6m (-77.1%), from €2.1m to €480,758
mainly Current investments (-€2.5m) and Investment in fixed assets (net) (-€1.1m)
- Receivables within one year +€569,355
up €569,355 (+56.7%), from €1.0m to €1.6m
of which Trade receivables: +€576,597
- Tangible fixed assets +€162,391
up €162,391 (+1.8%), from €9.2m to €9.4m
of which Plant, machinery and equipment: +€222,684
- Reserves +€2.6m
up €2.6m (+172.2%), from €1.5m to €4.0m
- Debts after one year -€763,333
down €763,333 (-10.4%), from €7.3m to €6.6m
of which Financial debts: -€763,333
- Trade debts -€537,822
down €537,822 (-44.2%), from €1.2m to €678,658
- Profit (loss) carried forward +€247,424
up €247,424 (+92.2%), from -€268,338 to -€20,914
- Gross operating margin +€1.3m
up €1.3m (+40.5%), from €3.3m to €4.6m
- Staff costs +€125,754
up €125,754 (+27.1%), from €464,279 to €590,033
- Financial charges -€117,284
down €117,284 (-52.6%), from €223,026 to €105,742
- Depreciation +€101,064
up €101,064 (+10.9%), from €931,079 to €1.0m
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 | €13,154,845 | €14,645,845 | +€1.5m | +11.3% |
| Formation expenses | 20 | €1,564 | €606 | -€958 | -61.2% |
| Fixed assets | 21/28 | €9,386,344 | €9,460,959 | +€74,615 | +0.8% |
| Intangible fixed assets | 21 | €152,460 | €64,684 | -€87,776 | -57.6% |
| Tangible fixed assets | 22/27 | €9,233,884 | €9,396,275 | +€162,391 | +1.8% |
| Land and buildings | 22 | €3,584,671 | €3,529,940 | -€54,731 | -1.5% |
| Plant, machinery and equipment | 23 | €5,619,505 | €5,842,189 | +€222,684 | +4.0% |
| Furniture and vehicles | 24 | €29,708 | €24,146 | -€5,562 | -18.7% |
| Current assets | 29/58 | €3,766,937 | €5,184,280 | +€1.4m | +37.6% |
| Stocks and contracts in progress | 3 | €593,130 | €551,030 | -€42,100 | -7.1% |
| Stocks | 30/36 | €593,130 | €551,030 | -€42,100 | -7.1% |
| Amounts receivable within one year | 40/41 | €1,004,577 | €1,573,931 | +€569,355 | +56.7% |
| Trade receivables | 40 | €831,465 | €1,408,062 | +€576,597 | +69.3% |
| Other amounts receivable | 41 | €173,112 | €165,870 | -€7,242 | -4.2% |
| Current investments | 50/53 | €0 | €2,500,000 | +€2.5m | |
| Cash at bank and in hand | 54/58 | €2,101,377 | €480,758 | -€1.6m | -77.1% |
| Deferred charges and accrued income | 490/1 | €67,853 | €78,561 | +€10,707 | +15.8% |
| Total equity and liabilities | 10/49 | €13,154,845 | €14,645,845 | +€1.5m | +11.3% |
| Equity | 10/15 | €3,668,593 | €6,423,619 | +€2.8m | +75.1% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €1,483,861 | €4,039,208 | +€2.6m | +172.2% |
| Tax-exempt reserves | 132 | €1,483,861 | €4,039,208 | +€2.6m | +172.2% |
| Profit (loss) carried forward | 14 | -€268,338 | -€20,914 | +€247,424 | +92.2% |
| Investment grants | 15 | €453,070 | €405,326 | -€47,744 | -10.5% |
| Amounts payable | 17/49 | €9,486,252 | €8,222,226 | -€1.3m | -13.3% |
| Amounts payable after more than one year | 17 | €7,319,722 | €6,556,389 | -€763,333 | -10.4% |
| Financial debts | 170/4 | €7,319,722 | €6,556,389 | -€763,333 | -10.4% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,143,343 | €1,640,778 | -€502,564 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €763,333 | €763,333 | = | 0.0% |
| Trade debts | 44 | €1,216,480 | €678,658 | -€537,822 | -44.2% |
| Suppliers | 440/4 | €1,216,480 | €678,658 | -€537,822 | -44.2% |
| Taxes, remuneration and social security | 45 | €73,666 | €73,052 | -€614 | -0.8% |
| Taxes | 450/3 | €14,923 | €1,605 | -€13,318 | -89.2% |
| Remuneration and social security | 454/9 | €58,743 | €71,447 | +€12,703 | +21.6% |
| Other amounts payable | 47/48 | €89,863 | €125,736 | +€35,872 | +39.9% |
| Accrued charges and deferred income | 492/3 | €23,187 | €25,058 | +€1,871 | +8.1% |
| Remuneration, social security and pensions | 62 | €464,279 | €590,033 | +€125,754 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €931,079 | €1,032,143 | +€101,064 | +10.9% |
| Other operating charges | 640/8 | €13,749 | €19,587 | +€5,838 | +42.5% |
| Gross operating margin | 9900 | €3,273,471 | €4,600,809 | +€1.3m | +40.5% |
| Operating profit (loss) | 9901 | €1,864,364 | €2,959,046 | +€1.1m | +58.7% |
| Financial income | 75/76B | €109,969 | €75,389 | -€34,580 | -31.4% |
| Recurring financial income | 75 | €109,969 | €75,389 | -€34,580 | -31.4% |
| Financial charges | 65/66B | €223,026 | €105,742 | -€117,284 | -52.6% |
| Recurring financial charges | 65 | €223,026 | €105,742 | -€117,284 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €1,751,307 | €2,928,692 | +€1.2m | +67.2% |
| Income taxes | 67/77 | €143 | €186 | +€43 | +30.4% |
| Profit (loss) for the period | 9904 | €1,751,164 | €2,928,506 | +€1.2m | +67.2% |
| Transfer to tax-exempt reserves | 689 | €1,483,861 | €2,555,347 | +€1.1m | +72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €267,303 | €373,159 | +€105,856 | +39.6% |
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 3 October 2026 via checked.be.