F.N.af: 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.N.af
Largest movements
- Financial fixed assets -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Cash +€13,944
up €13,944 (+23.7%), from €58,816 to €72,760
mainly Investment in fixed assets (net) (+€100,000) and Provisions (+€28,400)
- Tangible fixed assets -€10,515
down €10,515 (-100.0%), from €10,515 to €0
- Receivables within one year -€8,639
down €8,639 (-13.4%), from €64,274 to €55,635
of which Trade receivables: -€12,100
- Profit (loss) carried forward -€157,681
down €157,681 (-100.0%), from €157,681 to €0
- Provisions +€28,400
new in 2025: €28,400
- Other debts +€15,259
up €15,259 (+37.7%), from €40,506 to €55,765
- Reserves +€9,277
new in 2025: €9,277
- Debts after one year -€7,143
down €7,143 (-33.3%), from €21,429 to €14,286
- Provisions +€28,400
new in 2025: €28,400
- Gross operating margin -€4,259
down €4,259 (-6.7%), from €63,209 to €58,949
- Taxes -€3,147
down €3,147 (-24.2%), from €13,026 to €9,880
- Depreciation -€1,363
down €1,363 (-11.5%), from €11,878 to €10,515
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 | €234,024 | €128,886 | -€105,138 | -44.9% |
| Fixed assets | 21/28 | €110,515 | €0 | -€110,515 | -100.0% |
| Tangible fixed assets | 22/27 | €10,515 | €0 | -€10,515 | -100.0% |
| Furniture and vehicles | 24 | €10,515 | €0 | -€10,515 | -100.0% |
| Financial fixed assets | 28 | €100,000 | €0 | -€100,000 | -100.0% |
| Current assets | 29/58 | €123,510 | €128,886 | +€5,377 | +4.4% |
| Amounts receivable within one year | 40/41 | €64,274 | €55,635 | -€8,639 | -13.4% |
| Trade receivables | 40 | €60,500 | €48,400 | -€12,100 | -20.0% |
| Other amounts receivable | 41 | €3,774 | €7,235 | +€3,461 | +91.7% |
| Cash at bank and in hand | 54/58 | €58,816 | €72,760 | +€13,944 | +23.7% |
| Deferred charges and accrued income | 490/1 | €420 | €491 | +€72 | +17.0% |
| Total equity and liabilities | 10/49 | €234,024 | €128,886 | -€105,138 | -44.9% |
| Equity | 10/15 | €162,681 | €14,277 | -€148,403 | -91.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €9,277 | +€9,277 | |
| Distributable reserves | 133 | - | €9,277 | +€9,277 | |
| Profit (loss) carried forward | 14 | €157,681 | €0 | -€157,681 | -100.0% |
| Provisions and deferred taxes | 16 | - | €28,400 | +€28,400 | |
| Provisions for liabilities and charges | 160/5 | - | €28,400 | +€28,400 | |
| Other liabilities and charges | 164/5 | - | €28,400 | +€28,400 | |
| Amounts payable | 17/49 | €71,343 | €86,209 | +€14,865 | +20.8% |
| Amounts payable after more than one year | 17 | €21,429 | €14,286 | -€7,143 | -33.3% |
| Financial debts | 170/4 | €21,429 | €14,286 | -€7,143 | -33.3% |
| Amounts payable within one year | 42/48 | €49,915 | €71,923 | +€22,008 | +44.1% |
| Current portion of amounts payable after more than one year | 42 | €7,143 | €6,893 | -€250 | -3.5% |
| Trade debts | 44 | €1,910 | €3,194 | +€1,284 | +67.3% |
| Suppliers | 440/4 | €1,910 | €3,194 | +€1,284 | +67.3% |
| Taxes, remuneration and social security | 45 | €357 | €6,071 | +€5,715 | +1601.7% |
| Taxes | 450/3 | €357 | €6,071 | +€5,715 | +1601.7% |
| Other amounts payable | 47/48 | €40,506 | €55,765 | +€15,259 | +37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,878 | €10,515 | -€1,363 | -11.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €28,400 | +€28,400 | |
| Other operating charges | 640/8 | €819 | €706 | -€114 | -13.9% |
| Gross operating margin | 9900 | €63,209 | €58,949 | -€4,259 | -6.7% |
| Operating profit (loss) | 9901 | €50,512 | €19,329 | -€31,183 | -61.7% |
| Financial charges | 65/66B | €546 | €172 | -€374 | -68.5% |
| Recurring financial charges | 65 | €546 | €172 | -€374 | -68.5% |
| Profit (loss) for the period before taxes | 9903 | €49,966 | €19,157 | -€30,809 | -61.7% |
| Income taxes | 67/77 | €13,026 | €9,880 | -€3,147 | -24.2% |
| Profit (loss) for the period | 9904 | €36,939 | €9,277 | -€27,662 | -74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,939 | €9,277 | -€27,662 | -74.9% |
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 11 October 2026 via checked.be.