FA Clinical Research: 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.
FA Clinical Research
Largest movements
- Cash -€55,122
down €55,122 (-58.6%), from €94,055 to €38,932
mainly Debts after one year (-€50,691) and Net result for the year (-€37,753)
- Tangible fixed assets -€24,234
down €24,234 (-3.2%), from €751,916 to €727,682
of which Other tangible fixed assets: -€24,312
- Receivables within one year -€8,642
down €8,642 (-64.2%), from €13,469 to €4,827
of which Other amounts receivable: -€8,558
- Debts after one year -€50,691
down €50,691 (-9.7%), from €521,257 to €470,566
of which Financial debts: -€50,691
- Profit (loss) carried forward -€37,753
down €37,753 (-14.3%), from €264,412 to €226,660
- Gross operating margin -€131,072
down €131,072 (-85.4%), from €153,550 to €22,478
- Taxes -€9,757
down €9,757 (-97.3%), from €10,026 to €269
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 | €862,116 | €772,762 | -€89,353 | -10.4% |
| Fixed assets | 21/28 | €751,916 | €727,682 | -€24,234 | -3.2% |
| Tangible fixed assets | 22/27 | €751,916 | €727,682 | -€24,234 | -3.2% |
| Land and buildings | 22 | €3,356 | €2,849 | -€507 | -15.1% |
| Plant, machinery and equipment | 23 | €140 | €84 | -€56 | -40.2% |
| Furniture and vehicles | 24 | €831 | €1,471 | +€641 | +77.1% |
| Other tangible fixed assets | 26 | €747,589 | €723,277 | -€24,312 | -3.3% |
| Current assets | 29/58 | €110,200 | €45,081 | -€65,119 | -59.1% |
| Amounts receivable within one year | 40/41 | €13,469 | €4,827 | -€8,642 | -64.2% |
| Trade receivables | 40 | €84 | €0 | -€84 | -100% |
| Other amounts receivable | 41 | €13,385 | €4,827 | -€8,558 | -63.9% |
| Cash at bank and in hand | 54/58 | €94,055 | €38,932 | -€55,122 | -58.6% |
| Deferred charges and accrued income | 490/1 | €2,676 | €1,321 | -€1,355 | -50.6% |
| Total equity and liabilities | 10/49 | €862,116 | €772,762 | -€89,353 | -10.4% |
| Equity | 10/15 | €284,872 | €247,120 | -€37,753 | -13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,412 | €226,660 | -€37,753 | -14.3% |
| Amounts payable | 17/49 | €577,243 | €525,642 | -€51,601 | -8.9% |
| Amounts payable after more than one year | 17 | €521,257 | €470,566 | -€50,691 | -9.7% |
| Financial debts | 170/4 | €421,257 | €370,566 | -€50,691 | -12.0% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €55,986 | €54,336 | -€1,650 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €50,017 | €50,691 | +€675 | +1.3% |
| Trade debts | 44 | €5,862 | €2,525 | -€3,337 | -56.9% |
| Suppliers | 440/4 | €5,862 | €2,525 | -€3,337 | -56.9% |
| Taxes, remuneration and social security | 45 | €107 | €1,120 | +€1,012 | +942% |
| Taxes | 450/3 | €107 | €1,120 | +€1,012 | +942% |
| Accrued charges and deferred income | 492/3 | €0 | €741 | +€741 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,780 | €43,053 | +€272 | +0.6% |
| Other operating charges | 640/8 | €4,283 | €5,621 | +€1,339 | +31.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €153,550 | €22,478 | -€131,072 | -85.4% |
| Operating profit (loss) | 9901 | €106,487 | -€26,196 | -€132,683 | |
| Financial income | 75/76B | €499 | €665 | +€166 | +33.4% |
| Recurring financial income | 75 | €499 | €665 | +€166 | +33.4% |
| Financial charges | 65/66B | €11,873 | €11,953 | +€80 | +0.7% |
| Recurring financial charges | 65 | €11,873 | €11,953 | +€80 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €95,113 | -€37,483 | -€132,597 | |
| Income taxes | 67/77 | €10,026 | €269 | -€9,757 | -97.3% |
| Profit (loss) for the period | 9904 | €85,087 | -€37,753 | -€122,839 | |
| Profit (loss) for the period to be appropriated | 9905 | €85,087 | -€37,753 | -€122,839 |
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 27 October 2026 via checked.be.