AFM: 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.
AFM
Largest movements
- Receivables within one year +€24,741
up €24,741 (+87.0%), from €28,425 to €53,166
of which Trade receivables: +€17,220
- Profit (loss) carried forward +€12,814
up €12,814 (+1,090%), from €1,176 to €13,990
- Tax, wage and social debts +€7,877
up €7,877 (+125%), from €6,320 to €14,197
- Trade debts +€3,562
up €3,562 (+384%), from €928 to €4,490
- Turnover -€46,963
no longer reported in 2025 (was €46,963)
- Purchases and services -€36,224
no longer reported in 2025 (was €36,224)
- Gross operating margin +€2,247
up €2,247 (+20.9%), from €10,740 to €12,987
- Depreciation -€1,192
no longer reported in 2025 (was €1,192)
- Staff costs -€1,067
no longer reported in 2025 (was €1,067)
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 | €30,412 | €55,176 | +€24,764 | +81.4% |
| Fixed assets | 21/28 | €1,800 | €1,800 | = | 0.0% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €28,612 | €53,376 | +€24,764 | +86.6% |
| Amounts receivable within one year | 40/41 | €28,425 | €53,166 | +€24,741 | +87.0% |
| Trade receivables | 40 | €17,444 | €34,664 | +€17,220 | +98.7% |
| Other amounts receivable | 41 | €10,981 | €18,502 | +€7,521 | +68.5% |
| Cash at bank and in hand | 54/58 | €187 | €210 | +€23 | +12.3% |
| Total equity and liabilities | 10/49 | €30,412 | €55,176 | +€24,764 | +81.4% |
| Equity | 10/15 | €16,068 | €28,882 | +€12,814 | +79.7% |
| Contributions | 10/11 | €14,850 | €14,850 | = | 0.0% |
| Reserves | 13 | €42 | €42 | = | 0.0% |
| Non-distributable reserves | 130/1 | €42 | €42 | = | 0.0% |
| Reserves not available under the articles | 1311 | €42 | €42 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,176 | €13,990 | +€12,814 | +1,090% |
| Amounts payable | 17/49 | €14,344 | €26,294 | +€11,950 | +83.3% |
| Amounts payable within one year | 42/48 | €14,344 | €26,294 | +€11,950 | +83.3% |
| Current portion of amounts payable after more than one year | 42 | €173 | €684 | +€511 | +295% |
| Trade debts | 44 | €928 | €4,490 | +€3,562 | +384% |
| Suppliers | 440/4 | €928 | €4,490 | +€3,562 | +384% |
| Advances received on contracts in progress | 46 | €6,923 | €6,923 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,320 | €14,197 | +€7,877 | +125% |
| Taxes | 450/3 | €6,320 | €14,197 | +€7,877 | +125% |
| Turnover | 70 | €46,963 | - | -€46,963 | |
| Goods, raw materials, services and sundry goods | 60/61 | €36,224 | - | -€36,224 | |
| Remuneration, social security and pensions | 62 | €1,067 | - | -€1,067 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,192 | - | -€1,192 | |
| Other operating charges | 640/8 | €459 | €50 | -€409 | -89.1% |
| Gross operating margin | 9900 | €10,740 | €12,987 | +€2,247 | +20.9% |
| Operating profit (loss) | 9901 | €8,022 | €12,937 | +€4,915 | +61.3% |
| Financial charges | 65/66B | €241 | €123 | -€118 | -49.0% |
| Recurring financial charges | 65 | €241 | €123 | -€118 | -49.0% |
| Profit (loss) for the period before taxes | 9903 | €7,781 | €12,814 | +€5,033 | +64.7% |
| Profit (loss) for the period | 9904 | €7,781 | €12,814 | +€5,033 | +64.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,781 | €12,814 | +€5,033 | +64.7% |
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 25 October 2026 via checked.be.