FACE NORD: 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.
FACE NORD
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+285%), from €611,330 to €2.4m
of which Land and buildings: +€1.9m
- Receivables within one year -€129,783
down €129,783 (-43.9%), from €295,305 to €165,522
of which Trade receivables: -€149,069
- Cash -€59,936
down €59,936 (-67.5%), from €88,822 to €28,886
mainly Investment in fixed assets (net) (-€1.9m) and Contributions, distributions and other (-€72,848)
- Intangible fixed assets +€32,003
up €32,003 (+5,689%), from €563 to €32,565
- Debts after one year +€1.4m
up €1.4m (+241%), from €596,781 to €2.0m
- Trade debts +€70,260
up €70,260 (+270%), from €26,066 to €96,326
- Current portion of long-term debt +€54,078
up €54,078 (+817%), from €6,615 to €60,694
- Other debts +€52,130
up €52,130 (+154%), from €33,819 to €85,949
- Financial charges +€63,429
up €63,429 (+1,676%), from €3,784 to €67,212
- Depreciation +€62,674
up €62,674 (+252%), from €24,878 to €87,552
- Gross operating margin +€58,115
up €58,115 (+26.0%), from €223,369 to €281,484
- Staff costs +€35,994
up €35,994 (+54.2%), from €66,363 to €102,357
- Taxes -€25,154
down €25,154 (-87.1%), from €28,895 to €3,741
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 | €1,024,788 | €2,626,557 | +€1.6m | +156% |
| Fixed assets | 21/28 | €611,892 | €2,386,720 | +€1.8m | +290% |
| Intangible fixed assets | 21 | €563 | €32,565 | +€32,003 | +5,689% |
| Tangible fixed assets | 22/27 | €611,330 | €2,354,155 | +€1.7m | +285% |
| Land and buildings | 22 | €196,539 | €2,071,619 | +€1.9m | +954% |
| Plant, machinery and equipment | 23 | €78,732 | €9,554 | -€69,177 | -87.9% |
| Furniture and vehicles | 24 | €10,670 | €13,147 | +€2,477 | +23.2% |
| Leasing and similar rights | 25 | - | €15,886 | +€15,886 | |
| Assets under construction and advance payments | 27 | €325,389 | €243,948 | -€81,441 | -25.0% |
| Current assets | 29/58 | €412,896 | €239,837 | -€173,059 | -41.9% |
| Stocks and contracts in progress | 3 | €21,012 | €23,181 | +€2,169 | +10.3% |
| Stocks | 30/36 | €21,012 | €23,181 | +€2,169 | +10.3% |
| Amounts receivable within one year | 40/41 | €295,305 | €165,522 | -€129,783 | -43.9% |
| Trade receivables | 40 | €275,899 | €126,831 | -€149,069 | -54.0% |
| Other amounts receivable | 41 | €19,405 | €38,691 | +€19,286 | +99.4% |
| Cash at bank and in hand | 54/58 | €88,822 | €28,886 | -€59,936 | -67.5% |
| Deferred charges and accrued income | 490/1 | €7,757 | €22,248 | +€14,491 | +187% |
| Total equity and liabilities | 10/49 | €1,024,788 | €2,626,557 | +€1.6m | +156% |
| Equity | 10/15 | €351,401 | €333,430 | -€17,972 | -5.1% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €225,243 | €205,243 | -€20,000 | -8.9% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,848 | - | -€37,848 | |
| Distributable reserves | 133 | €175,000 | €192,848 | +€17,848 | +10.2% |
| Profit (loss) carried forward | 14 | €2,212 | €4,240 | +€2,028 | +91.7% |
| Amounts payable | 17/49 | €673,387 | €2,293,128 | +€1.6m | +241% |
| Amounts payable after more than one year | 17 | €596,781 | €2,037,070 | +€1.4m | +241% |
| Financial debts | 170/4 | €596,781 | €2,037,070 | +€1.4m | +241% |
| Amounts payable within one year | 42/48 | €74,630 | €251,157 | +€176,527 | +237% |
| Current portion of amounts payable after more than one year | 42 | €6,615 | €60,694 | +€54,078 | +817% |
| Trade debts | 44 | €26,066 | €96,326 | +€70,260 | +270% |
| Suppliers | 440/4 | €26,066 | €96,326 | +€70,260 | +270% |
| Taxes, remuneration and social security | 45 | €8,130 | €8,188 | +€59 | +0.7% |
| Remuneration and social security | 454/9 | €8,130 | €8,188 | +€59 | +0.7% |
| Other amounts payable | 47/48 | €33,819 | €85,949 | +€52,130 | +154% |
| Accrued charges and deferred income | 492/3 | €1,976 | €4,900 | +€2,924 | +148% |
| Remuneration, social security and pensions | 62 | €66,363 | €102,357 | +€35,994 | +54.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,878 | €87,552 | +€62,674 | +252% |
| Other operating charges | 640/8 | €3,785 | €4,853 | +€1,067 | +28.2% |
| Gross operating margin | 9900 | €223,369 | €281,484 | +€58,115 | +26.0% |
| Operating profit (loss) | 9901 | €128,343 | €86,723 | -€41,620 | -32.4% |
| Financial income | 75/76B | €265 | €1,259 | +€994 | +375% |
| Recurring financial income | 75 | €265 | €1,259 | +€994 | +375% |
| Financial charges | 65/66B | €3,784 | €67,212 | +€63,429 | +1,676% |
| Recurring financial charges | 65 | €3,784 | €67,212 | +€63,429 | +1,676% |
| Profit (loss) for the period before taxes | 9903 | €124,824 | €20,769 | -€104,055 | -83.4% |
| Transfer from deferred taxes | 780 | - | €37,848 | +€37,848 | |
| Income taxes | 67/77 | €28,895 | €3,741 | -€25,154 | -87.1% |
| Profit (loss) for the period | 9904 | €95,929 | €54,876 | -€41,053 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,929 | €54,876 | -€41,053 | -42.8% |
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 15 October 2026 via checked.be.