F.A.W.: 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.
F.A.W.
Largest movements
- Cash +€116,926
up €116,926 (+43.2%), from €270,953 to €387,880
mainly Net result for the year (+€310,547) and Receivables within one year (+€7,456)
- Profit (loss) carried forward +€310,547
up €310,547 (+31.9%), from €972,237 to €1.3m
- Debts after one year -€116,666
no longer reported in 2025 (was €116,666)
- Current portion of long-term debt -€83,334
down €83,334 (-41.7%), from €200,000 to €116,666
- Gross operating margin +€2,047
up €2,047 (+14.3%), from €14,301 to €16,347
- Financial charges -€1,646
down €1,646 (-45.9%), from €3,586 to €1,940
- Taxes +€896
up €896 (+45.6%), from €1,966 to €2,862
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 | €2,308,708 | €2,418,178 | +€109,470 | +4.7% |
| Fixed assets | 21/28 | €2,030,100 | €2,030,100 | = | 0.0% |
| Financial fixed assets | 28 | €2,030,100 | €2,030,100 | = | 0.0% |
| Current assets | 29/58 | €278,608 | €388,078 | +€109,470 | +39.3% |
| Amounts receivable within one year | 40/41 | €7,654 | €198 | -€7,456 | -97.4% |
| Trade receivables | 40 | €7,321 | - | -€7,321 | |
| Other amounts receivable | 41 | €334 | €198 | -€136 | -40.7% |
| Cash at bank and in hand | 54/58 | €270,953 | €387,880 | +€116,926 | +43.2% |
| Total equity and liabilities | 10/49 | €2,308,708 | €2,418,178 | +€109,470 | +4.7% |
| Equity | 10/15 | €1,987,237 | €2,297,784 | +€310,547 | +15.6% |
| Contributions | 10/11 | €1,015,000 | €1,015,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €972,237 | €1,282,784 | +€310,547 | +31.9% |
| Amounts payable | 17/49 | €321,471 | €120,393 | -€201,077 | -62.5% |
| Amounts payable after more than one year | 17 | €116,666 | - | -€116,666 | |
| Financial debts | 170/4 | €116,666 | - | -€116,666 | |
| Amounts payable within one year | 42/48 | €204,804 | €120,393 | -€84,411 | -41.2% |
| Current portion of amounts payable after more than one year | 42 | €200,000 | €116,666 | -€83,334 | -41.7% |
| Trade debts | 44 | €167 | - | -€167 | |
| Suppliers | 440/4 | €167 | - | -€167 | |
| Taxes, remuneration and social security | 45 | €2,297 | €1,387 | -€910 | -39.6% |
| Taxes | 450/3 | €2,297 | €1,387 | -€910 | -39.6% |
| Other amounts payable | 47/48 | €2,340 | €2,340 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €14,301 | €16,347 | +€2,047 | +14.3% |
| Operating profit (loss) | 9901 | €13,333 | €15,349 | +€2,016 | +15.1% |
| Financial income | 75/76B | €300,000 | €300,000 | = | 0.0% |
| Recurring financial income | 75 | €300,000 | €300,000 | = | 0.0% |
| Financial charges | 65/66B | €3,586 | €1,940 | -€1,646 | -45.9% |
| Recurring financial charges | 65 | €3,586 | €1,940 | -€1,646 | -45.9% |
| Profit (loss) for the period before taxes | 9903 | €309,748 | €313,409 | +€3,661 | +1.2% |
| Income taxes | 67/77 | €1,966 | €2,862 | +€896 | +45.6% |
| Profit (loss) for the period | 9904 | €307,782 | €310,547 | +€2,766 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €307,782 | €310,547 | +€2,766 | +0.9% |
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 16 October 2026 via checked.be.