Dr. Julie FAES: what changed
Dr. Julie FAES
Largest movements
- Cash -€167,839
down €167,839 (-55.0%), from €304,925 to €137,086
mainly Contributions, distributions and other (-€488,335) and Deferred charges and accrued income (-€128,919)
- Deferred charges and accrued income +€128,919
up €128,919 (+76.3%), from €169,017 to €297,936
- Tangible fixed assets -€17,799
down €17,799 (-11.9%), from €149,554 to €131,756
of which Land and buildings: -€12,034
- Intangible fixed assets -€13,750
down €13,750 (-88.4%), from €15,558 to €1,808
- Reserves -€82,565
no longer reported in 2025 (was €82,565)
- Other debts +€35,393
up €35,393 (+8.6%), from €409,326 to €444,719
- Tax, wage and social debts -€14,484
down €14,484 (-20.8%), from €69,498 to €55,014
of which Taxes: -€23,349
- Debts after one year -€7,078
down €7,078 (-13.7%), from €51,722 to €44,644
- Gross operating margin +€40,812
up €40,812 (+7.6%), from €539,527 to €580,339
- Financial income -€13,175
down €13,175 (-98.9%), from €13,327 to €152
- Taxes +€10,521
up €10,521 (+8.6%), from €121,911 to €132,431
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 | €639,055 | €570,055 | -€69,000 | -10.8% |
| Fixed assets | 21/28 | €165,113 | €133,564 | -€31,549 | -19.1% |
| Intangible fixed assets | 21 | €15,558 | €1,808 | -€13,750 | -88.4% |
| Tangible fixed assets | 22/27 | €149,554 | €131,756 | -€17,799 | -11.9% |
| Land and buildings | 22 | €112,455 | €100,422 | -€12,034 | -10.7% |
| Furniture and vehicles | 24 | €31,788 | €27,493 | -€4,295 | -13.5% |
| Other tangible fixed assets | 26 | €5,311 | €3,841 | -€1,470 | -27.7% |
| Current assets | 29/58 | €473,942 | €436,491 | -€37,451 | -7.9% |
| Amounts receivable within one year | 40/41 | - | €1,470 | +€1,470 | |
| Trade receivables | 40 | - | €1,470 | +€1,470 | |
| Cash at bank and in hand | 54/58 | €304,925 | €137,086 | -€167,839 | -55.0% |
| Deferred charges and accrued income | 490/1 | €169,017 | €297,936 | +€128,919 | +76.3% |
| Total equity and liabilities | 10/49 | €639,055 | €570,055 | -€69,000 | -10.8% |
| Equity | 10/15 | €101,165 | €18,600 | -€82,565 | -81.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €82,565 | - | -€82,565 | |
| Distributable reserves | 133 | €82,565 | - | -€82,565 | |
| Amounts payable | 17/49 | €537,890 | €551,455 | +€13,565 | +2.5% |
| Amounts payable after more than one year | 17 | €51,722 | €44,644 | -€7,078 | -13.7% |
| Financial debts | 170/4 | €51,722 | €44,644 | -€7,078 | -13.7% |
| Amounts payable within one year | 42/48 | €486,168 | €506,811 | +€20,643 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €6,919 | €7,078 | +€159 | +2.3% |
| Trade debts | 44 | €425 | - | -€425 | |
| Suppliers | 440/4 | €425 | - | -€425 | |
| Taxes, remuneration and social security | 45 | €69,498 | €55,014 | -€14,484 | -20.8% |
| Taxes | 450/3 | €69,498 | €46,149 | -€23,349 | -33.6% |
| Remuneration and social security | 454/9 | - | €8,865 | +€8,865 | |
| Other amounts payable | 47/48 | €409,326 | €444,719 | +€35,393 | +8.6% |
| Non-recurring operating income | 76A | €1,752 | - | -€1,752 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,034 | €36,913 | +€2,879 | +8.5% |
| Other operating charges | 640/8 | €6,666 | €3,956 | -€2,710 | -40.7% |
| Gross operating margin | 9900 | €539,527 | €580,339 | +€40,812 | +7.6% |
| Operating profit (loss) | 9901 | €498,828 | €539,471 | +€40,643 | +8.1% |
| Financial income | 75/76B | €13,327 | €152 | -€13,175 | -98.9% |
| Recurring financial income | 75 | €13,327 | €152 | -€13,175 | -98.9% |
| Financial charges | 65/66B | €291 | €1,422 | +€1,131 | +389% |
| Recurring financial charges | 65 | €291 | €1,422 | +€1,131 | +389% |
| Profit (loss) for the period before taxes | 9903 | €511,864 | €538,202 | +€26,337 | +5.1% |
| Income taxes | 67/77 | €121,911 | €132,431 | +€10,521 | +8.6% |
| Profit (loss) for the period | 9904 | €389,954 | €405,770 | +€15,817 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €389,954 | €405,770 | +€15,817 | +4.1% |
Next steps
Calculation and sources
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 3 November 2026 via checked.be.