FA Management: what changed
Two fiscal 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 Management
Largest movements
- Receivables within one year +€33,085
up €33,085 (+79.2%), from €41,769 to €74,854
of which Trade receivables: +€23,891
- Cash -€27,979
down €27,979 (-55.5%), from €50,380 to €22,401
mainly Contributions, distributions and other (-€39,240) and Receivables within one year (-€33,085)
- Tangible fixed assets -€17,193
down €17,193 (-4.9%), from €353,395 to €336,202
of which Land and buildings: -€16,662
- Deferred charges and accrued income -€5,967
down €5,967 (-88.7%), from €6,727 to €761
- Other debts +€32,120
up €32,120 (+300.4%), from €10,693 to €42,813
- Debts after one year -€25,209
down €25,209 (-14.0%), from €180,544 to €155,335
- Reserves -€20,440
down €20,440 (-13.1%), from €155,500 to €135,060
of which Distributable reserves: -€20,440
- Tax, wage and social debts -€4,837
down €4,837 (-19.3%), from €25,081 to €20,244
of which Taxes: -€4,837
- Gross operating margin +€8,038
up €8,038 (+17.5%), from €46,032 to €54,071
- Taxes +€1,760
up €1,760 (+23.6%), from €7,460 to €9,220
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 | €452,507 | €434,454 | -€18,053 | -4.0% |
| Fixed assets | 21/28 | €353,630 | €336,437 | -€17,193 | -4.9% |
| Tangible fixed assets | 22/27 | €353,395 | €336,202 | -€17,193 | -4.9% |
| Land and buildings | 22 | €340,303 | €323,641 | -€16,662 | -4.9% |
| Plant, machinery and equipment | 23 | €999 | €468 | -€530 | -53.1% |
| Furniture and vehicles | 24 | €12,093 | €12,093 | = | 0.0% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €98,877 | €98,016 | -€861 | -0.9% |
| Amounts receivable within one year | 40/41 | €41,769 | €74,854 | +€33,085 | +79.2% |
| Trade receivables | 40 | €41,428 | €65,319 | +€23,891 | +57.7% |
| Other amounts receivable | 41 | €341 | €9,535 | +€9,194 | +2695.8% |
| Cash at bank and in hand | 54/58 | €50,380 | €22,401 | -€27,979 | -55.5% |
| Deferred charges and accrued income | 490/1 | €6,727 | €761 | -€5,967 | -88.7% |
| Total equity and liabilities | 10/49 | €452,507 | €434,454 | -€18,053 | -4.0% |
| Equity | 10/15 | €202,051 | €181,686 | -€20,365 | -10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €155,500 | €135,060 | -€20,440 | -13.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €153,640 | €133,200 | -€20,440 | -13.3% |
| Profit (loss) carried forward | 14 | €27,951 | €28,026 | +€75 | +0.3% |
| Amounts payable | 17/49 | €250,456 | €252,768 | +€2,311 | +0.9% |
| Amounts payable after more than one year | 17 | €180,544 | €155,335 | -€25,209 | -14.0% |
| Financial debts | 170/4 | €180,544 | €155,335 | -€25,209 | -14.0% |
| Amounts payable within one year | 42/48 | €69,913 | €97,433 | +€27,520 | +39.4% |
| Current portion of amounts payable after more than one year | 42 | €24,693 | €25,205 | +€512 | +2.1% |
| Trade debts | 44 | €9,446 | €9,171 | -€275 | -2.9% |
| Suppliers | 440/4 | €9,446 | €9,171 | -€275 | -2.9% |
| Taxes, remuneration and social security | 45 | €25,081 | €20,244 | -€4,837 | -19.3% |
| Taxes | 450/3 | €24,831 | €19,994 | -€4,837 | -19.5% |
| Remuneration and social security | 454/9 | €250 | €250 | = | 0.0% |
| Other amounts payable | 47/48 | €10,693 | €42,813 | +€32,120 | +300.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,495 | €17,193 | -€303 | -1.7% |
| Other operating charges | 640/8 | €3,701 | €4,113 | +€412 | +11.1% |
| Gross operating margin | 9900 | €46,032 | €54,071 | +€8,038 | +17.5% |
| Operating profit (loss) | 9901 | €24,836 | €32,765 | +€7,929 | +31.9% |
| Financial income | 75/76B | €47 | €33 | -€13 | -28.7% |
| Recurring financial income | 75 | €47 | €33 | -€13 | -28.7% |
| Financial charges | 65/66B | €4,544 | €4,703 | +€159 | +3.5% |
| Recurring financial charges | 65 | €4,544 | €4,703 | +€159 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €20,338 | €28,095 | +€7,757 | +38.1% |
| Income taxes | 67/77 | €7,460 | €9,220 | +€1,760 | +23.6% |
| Profit (loss) for the period | 9904 | €12,878 | €18,875 | +€5,997 | +46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,878 | €18,875 | +€5,997 | +46.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.