DE FAKL: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
DE FAKL
Largest movements
- Financial fixed assets +€2.5m
up €2.5m (+27.8%), from €8.9m to €11.4m
- Cash +€365,253
up €365,253 (+160%), from €228,159 to €593,412
mainly Net result for the year (+€3.1m) and Debts after one year (+€450,207)
- Profit (loss) carried forward +€1.6m
up €1.6m, from -€1.6m to €0
- Reserves +€1.5m
up €1.5m (+89.9%), from €1.7m to €3.2m
- Debts after one year +€450,207
up €450,207 (+45.0%), from €1.0m to €1.5m
- Current portion of long-term debt -€450,207
down €450,207 (-100%), from €450,207 to €0
- Other debts -€430,258
down €430,258 (-100%), from €430,258 to €0
- Financial income +€2.9m
up €2.9m (+684%), from €424,698 to €3.3m
of which Non-recurring financial income: +€2.5m
- Financial charges -€130,754
down €130,754 (-90.7%), from €144,087 to €13,333
- Taxes +€126,022
up €126,022 (+424%), from €29,751 to €155,773
- Gross operating margin -€111,215
down €111,215, from €101,659 to -€9,557
- Depreciation -€16,037
down €16,037 (-91.5%), from €17,525 to €1,488
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,294,690 | €15,180,688 | +€2.9m | +23.5% |
| Fixed assets | 21/28 | €8,905,916 | €11,381,138 | +€2.5m | +27.8% |
| Tangible fixed assets | 22/27 | €1,488 | €0 | -€1,488 | -100% |
| Furniture and vehicles | 24 | €1,488 | €0 | -€1,488 | -100% |
| Financial fixed assets | 28 | €8,904,427 | €11,381,138 | +€2.5m | +27.8% |
| Current assets | 29/58 | €3,388,775 | €3,799,550 | +€410,776 | +12.1% |
| Amounts receivable within one year | 40/41 | €90,243 | €89,937 | -€306 | -0.3% |
| Trade receivables | 40 | €22,022 | €23,595 | +€1,573 | +7.1% |
| Other amounts receivable | 41 | €68,221 | €66,342 | -€1,879 | -2.8% |
| Current investments | 50/53 | €3,068,269 | €3,115,220 | +€46,951 | +1.5% |
| Cash at bank and in hand | 54/58 | €228,159 | €593,412 | +€365,253 | +160% |
| Deferred charges and accrued income | 490/1 | €2,104 | €982 | -€1,123 | -53.3% |
| Total equity and liabilities | 10/49 | €12,294,690 | €15,180,688 | +€2.9m | +23.5% |
| Equity | 10/15 | €10,393,215 | €13,537,561 | +€3.1m | +30.3% |
| Contributions | 10/11 | €10,288,915 | €10,288,915 | = | 0.0% |
| Reserves | 13 | €1,710,711 | €3,248,646 | +€1.5m | +89.9% |
| Distributable reserves | 133 | €1,710,711 | €3,248,646 | +€1.5m | +89.9% |
| Profit (loss) carried forward | 14 | -€1,606,411 | €0 | +€1.6m | |
| Amounts payable | 17/49 | €1,901,475 | €1,643,128 | -€258,348 | -13.6% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,450,207 | +€450,207 | +45.0% |
| Financial debts | 170/4 | €1,000,000 | €1,450,207 | +€450,207 | +45.0% |
| Amounts payable within one year | 42/48 | €901,475 | €190,613 | -€710,863 | -78.9% |
| Current portion of amounts payable after more than one year | 42 | €450,207 | €0 | -€450,207 | -100% |
| Trade debts | 44 | €21,003 | €43,426 | +€22,423 | +107% |
| Suppliers | 440/4 | €21,003 | €43,426 | +€22,423 | +107% |
| Taxes, remuneration and social security | 45 | €6 | €147,186 | +€147,180 | +2,354,878% |
| Taxes | 450/3 | €6 | €147,186 | +€147,180 | +2,354,878% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €430,258 | €0 | -€430,258 | -100% |
| Accrued charges and deferred income | 492/3 | - | €2,308 | +€2,308 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,525 | €1,488 | -€16,037 | -91.5% |
| Other operating charges | 640/8 | €5,575 | €5,880 | +€305 | +5.5% |
| Gross operating margin | 9900 | €101,659 | -€9,557 | -€111,215 | |
| Operating profit (loss) | 9901 | €78,558 | -€16,925 | -€95,483 | |
| Financial income | 75/76B | €424,698 | €3,330,377 | +€2.9m | +684% |
| Recurring financial income | 75 | €424,698 | €853,667 | +€428,968 | +101% |
| Non-recurring financial income | 76B | - | €2,476,711 | +€2.5m | |
| Financial charges | 65/66B | €144,087 | €13,333 | -€130,754 | -90.7% |
| Recurring financial charges | 65 | €144,087 | €13,333 | -€130,754 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | €359,169 | €3,300,119 | +€2.9m | +819% |
| Income taxes | 67/77 | €29,751 | €155,773 | +€126,022 | +424% |
| Profit (loss) for the period | 9904 | €329,418 | €3,144,346 | +€2.8m | +855% |
| Profit (loss) for the period to be appropriated | 9905 | €329,418 | €3,144,346 | +€2.8m | +855% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.