FADAK: 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.
What changed
FADAK
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€79,654
2024 · -€71,983-€7,672
Equity
€950,955
2024 · €1.0m-€79,654
Cash
€43,391
2024 · €35,270+€8,121
Balance sheet total
€1.5m
2024 · €1.6m-€106,324
Largest movements
Assets
- Tangible fixed assets -€113,503
down €113,503 (-7.5%), from €1.5m to €1.4m
of which Land and buildings: -€112,814
Equity and liabilities
- Reserves -€47,289
down €47,289 (-6.6%), from €716,042 to €668,753
of which Tax-exempt reserves: -€47,289
- Profit (loss) carried forward -€32,366
down €32,366 (-43.4%), from -€74,625 to -€106,990
- Provisions -€23,932
down €23,932 (-7.3%), from €325,641 to €301,709
Income statement
- Gross operating margin -€6,645
down €6,645 (-15.3%), from €43,538 to €36,892
- Other operating charges +€865
up €865 (+7.6%), from €11,396 to €12,261
- Financial income -€840
down €840 (-98.0%), from €857 to €17
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.
Result 2024
-€71,983
Gross operating margin
-€6,645
Depreciation
-€395
Other operating charges
-€865
Financial income
-€840
Financial charges
-€288
Taxes
-€1
Deferred taxes and other
+€1,363
Result 2025
-€79,654
lowers the resultnot broken down further in the accounts
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.
From operations
+€22,358
Investment
-€2,238
Financing
-€12,000
Cash 2024
€35,270
From operations (derived)
+€22,358
Net result for the year
-€79,654
Depreciation
+€115,741
Smaller working-capital items
+€69
Deferred charges and accrued income
+€959
Provisions
-€23,932
Trade debts
+€1,679
Other debts
+€8,261
Accrued charges and deferred income
-€765
Investment (derived)
-€2,238
Investment in fixed assets (net)
-€2,238
Financing
-€12,000
Debts after one year
-€12,000
Cash 2025
€43,391
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,558,993 | €1,452,669 | -€106,324 | -6.8% |
| Fixed assets | 21/28 | €1,514,640 | €1,401,137 | -€113,503 | -7.5% |
| Tangible fixed assets | 22/27 | €1,514,640 | €1,401,137 | -€113,503 | -7.5% |
| Land and buildings | 22 | €1,509,509 | €1,396,695 | -€112,814 | -7.5% |
| Furniture and vehicles | 24 | €5,131 | €4,442 | -€689 | -13.4% |
| Current assets | 29/58 | €44,353 | €51,532 | +€7,179 | +16.2% |
| Amounts receivable within one year | 40/41 | €857 | €874 | +€17 | +2.0% |
| Other amounts receivable | 41 | €857 | €874 | +€17 | +2.0% |
| Cash at bank and in hand | 54/58 | €35,270 | €43,391 | +€8,121 | +23.0% |
| Deferred charges and accrued income | 490/1 | €8,226 | €7,267 | -€959 | -11.7% |
| Total equity and liabilities | 10/49 | €1,558,993 | €1,452,669 | -€106,324 | -6.8% |
| Equity | 10/15 | €1,030,609 | €950,955 | -€79,654 | -7.7% |
| Contributions | 10/11 | €389,193 | €389,193 | = | 0.0% |
| Capital | 10 | €389,193 | €389,193 | = | 0.0% |
| Issued capital | 100 | €389,193 | €389,193 | = | 0.0% |
| Reserves | 13 | €716,042 | €668,753 | -€47,289 | -6.6% |
| Non-distributable reserves | 130/1 | €3,650 | €3,650 | = | 0.0% |
| Legal reserve | 130 | €3,650 | €3,650 | = | 0.0% |
| Tax-exempt reserves | 132 | €712,392 | €665,103 | -€47,289 | -6.6% |
| Profit (loss) carried forward | 14 | -€74,625 | -€106,990 | -€32,366 | -43.4% |
| Provisions and deferred taxes | 16 | €325,641 | €301,709 | -€23,932 | -7.3% |
| Deferred taxes | 168 | €325,641 | €301,709 | -€23,932 | -7.3% |
| Amounts payable | 17/49 | €202,743 | €200,005 | -€2,738 | -1.4% |
| Amounts payable after more than one year | 17 | €47,000 | €35,000 | -€12,000 | -25.5% |
| Financial debts | 170/4 | €47,000 | €35,000 | -€12,000 | -25.5% |
| Amounts payable within one year | 42/48 | €145,354 | €155,381 | +€10,027 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | €12,000 | = | 0.0% |
| Trade debts | 44 | €1,181 | €2,860 | +€1,679 | +142% |
| Suppliers | 440/4 | €1,181 | €2,860 | +€1,679 | +142% |
| Taxes, remuneration and social security | 45 | €376 | €462 | +€86 | +22.9% |
| Taxes | 450/3 | €376 | €462 | +€86 | +22.9% |
| Other amounts payable | 47/48 | €131,797 | €140,059 | +€8,261 | +6.3% |
| Accrued charges and deferred income | 492/3 | €10,389 | €9,624 | -€765 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,345 | €115,741 | +€395 | +0.3% |
| Other operating charges | 640/8 | €11,396 | €12,261 | +€865 | +7.6% |
| Gross operating margin | 9900 | €43,538 | €36,892 | -€6,645 | -15.3% |
| Operating profit (loss) | 9901 | -€83,204 | -€91,109 | -€7,906 | -9.5% |
| Financial income | 75/76B | €857 | €17 | -€840 | -98.0% |
| Recurring financial income | 75 | €857 | €17 | -€840 | -98.0% |
| Financial charges | 65/66B | €12,065 | €12,353 | +€288 | +2.4% |
| Recurring financial charges | 65 | €12,065 | €12,353 | +€288 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | -€94,412 | -€103,445 | -€9,034 | -9.6% |
| Transfer from deferred taxes | 780 | €22,569 | €23,932 | +€1,363 | +6.0% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€71,983 | -€79,654 | -€7,672 | -10.7% |
| Transfer from tax-exempt reserves | 789 | €44,767 | €47,289 | +€2,522 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,216 | -€32,366 | -€5,150 | -18.9% |
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 21 October 2026 via checked.be.