FACERE: 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.
FACERE
Largest movements
- Current investments +€500,000
new in 2025: €500,000
- Tangible fixed assets -€268,413
down €268,413 (-98.7%), from €272,071 to €3,658
of which Land and buildings: -€272,071
- Cash -€38,318
down €38,318 (-91.9%), from €41,688 to €3,369
mainly Current investments (-€500,000) and Debts after one year (-€80,000)
- Receivables within one year -€35,808
down €35,808 (-45.5%), from €78,767 to €42,958
of which Other amounts receivable: -€18,130
- Stocks and contracts -€10,726
no longer reported in 2025 (was €10,726)
- Reserves +€362,488
up €362,488 (+318.9%), from €113,677 to €476,165
of which Distributable reserves: +€362,488
- Debts after one year -€80,000
no longer reported in 2025 (was €80,000)
- Trade debts -€62,711
no longer reported in 2025 (was €62,711)
- Other debts -€55,001
down €55,001 (-81.6%), from €67,390 to €12,389
- Current portion of long-term debt -€29,609
down €29,609 (-86.7%), from €34,169 to €4,560
- Gross operating margin +€392,655
up €392,655 (+204.0%), from €192,487 to €585,142
- Taxes +€154,062
up €154,062 (+934.0%), from €16,494 to €170,556
- Staff costs -€79,708
down €79,708 (-76.0%), from €104,843 to €25,135
- Other operating charges -€7,942
down €7,942 (-32.7%), from €24,305 to €16,363
- Depreciation -€6,749
down €6,749 (-72.1%), from €9,358 to €2,609
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 | €407,668 | €550,171 | +€142,502 | +35.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €272,256 | €3,843 | -€268,413 | -98.6% |
| Tangible fixed assets | 22/27 | €272,071 | €3,658 | -€268,413 | -98.7% |
| Land and buildings | 22 | €272,071 | - | -€272,071 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | €3,658 | +€3,658 | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €135,413 | €546,328 | +€410,915 | +303.5% |
| Stocks and contracts in progress | 3 | €10,726 | - | -€10,726 | |
| Stocks | 30/36 | €10,726 | - | -€10,726 | |
| Amounts receivable within one year | 40/41 | €78,767 | €42,958 | -€35,808 | -45.5% |
| Trade receivables | 40 | €57,187 | €39,509 | -€17,678 | -30.9% |
| Other amounts receivable | 41 | €21,579 | €3,449 | -€18,130 | -84.0% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €41,688 | €3,369 | -€38,318 | -91.9% |
| Deferred charges and accrued income | 490/1 | €4,233 | - | -€4,233 | |
| Total equity and liabilities | 10/49 | €407,668 | €550,171 | +€142,502 | +35.0% |
| Equity | 10/15 | €119,877 | €482,365 | +€362,488 | +302.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €113,677 | €476,165 | +€362,488 | +318.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €111,817 | €474,305 | +€362,488 | +324.2% |
| Amounts payable | 17/49 | €287,791 | €67,806 | -€219,985 | -76.4% |
| Amounts payable after more than one year | 17 | €80,000 | - | -€80,000 | |
| Financial debts | 170/4 | €80,000 | - | -€80,000 | |
| Amounts payable within one year | 42/48 | €206,819 | €66,355 | -€140,464 | -67.9% |
| Current portion of amounts payable after more than one year | 42 | €34,169 | €4,560 | -€29,609 | -86.7% |
| Trade debts | 44 | €62,711 | - | -€62,711 | |
| Suppliers | 440/4 | €62,711 | - | -€62,711 | |
| Taxes, remuneration and social security | 45 | €42,549 | €49,406 | +€6,857 | +16.1% |
| Taxes | 450/3 | €20,579 | €47,272 | +€26,693 | +129.7% |
| Remuneration and social security | 454/9 | €21,970 | €2,134 | -€19,836 | -90.3% |
| Other amounts payable | 47/48 | €67,390 | €12,389 | -€55,001 | -81.6% |
| Accrued charges and deferred income | 492/3 | €972 | €1,451 | +€479 | +49.2% |
| Remuneration, social security and pensions | 62 | €104,843 | €25,135 | -€79,708 | -76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,358 | €2,609 | -€6,749 | -72.1% |
| Other operating charges | 640/8 | €24,305 | €16,363 | -€7,942 | -32.7% |
| Gross operating margin | 9900 | €192,487 | €585,142 | +€392,655 | +204.0% |
| Operating profit (loss) | 9901 | €53,982 | €541,035 | +€487,053 | +902.3% |
| Financial income | 75/76B | €782 | €1,665 | +€883 | +113.0% |
| Recurring financial income | 75 | €782 | €1,665 | +€883 | +113.0% |
| Financial charges | 65/66B | €7,715 | €9,657 | +€1,941 | +25.2% |
| Recurring financial charges | 65 | €7,715 | €9,657 | +€1,941 | +25.2% |
| Profit (loss) for the period before taxes | 9903 | €47,048 | €533,044 | +€485,996 | +1033.0% |
| Income taxes | 67/77 | €16,494 | €170,556 | +€154,062 | +934.0% |
| Profit (loss) for the period | 9904 | €30,554 | €362,488 | +€331,934 | +1086.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,554 | €362,488 | +€331,934 | +1086.4% |
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 12 October 2026 via checked.be.