FADEUX: 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.
FADEUX
Largest movements
- Tangible fixed assets -€18,830
down €18,830 (-3.9%), from €485,951 to €467,121
of which Land and buildings: -€11,102
- Debts after one year -€18,821
down €18,821 (-7.2%), from €262,934 to €244,113
- Reserves +€6,367
up €6,367 (+3.0%), from €215,632 to €221,999
of which Distributable reserves: +€6,367
- Financial charges +€4,583
up €4,583 (+44.4%), from €10,323 to €14,906
- Depreciation +€3,274
up €3,274 (+10.7%), from €30,673 to €33,946
- Taxes -€1,758
down €1,758 (-26.0%), from €6,769 to €5,011
- Financial income -€694
down €694 (-46.2%), from €1,502 to €808
- Gross operating margin -€660
down €660 (-1.0%), from €63,120 to €62,460
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 | €546,415 | €524,156 | -€22,259 | -4.1% |
| Fixed assets | 21/28 | €485,951 | €467,121 | -€18,830 | -3.9% |
| Tangible fixed assets | 22/27 | €485,951 | €467,121 | -€18,830 | -3.9% |
| Land and buildings | 22 | €461,090 | €449,988 | -€11,102 | -2.4% |
| Plant, machinery and equipment | 23 | €22,326 | €15,717 | -€6,609 | -29.6% |
| Furniture and vehicles | 24 | €2,536 | €1,416 | -€1,120 | -44.2% |
| Current assets | 29/58 | €60,464 | €57,035 | -€3,429 | -5.7% |
| Amounts receivable within one year | 40/41 | €40,722 | €35,577 | -€5,145 | -12.6% |
| Trade receivables | 40 | €10,299 | €15,981 | +€5,682 | +55.2% |
| Other amounts receivable | 41 | €30,423 | €19,597 | -€10,827 | -35.6% |
| Cash at bank and in hand | 54/58 | €17,268 | €14,787 | -€2,481 | -14.4% |
| Deferred charges and accrued income | 490/1 | €2,474 | €6,670 | +€4,196 | +169.6% |
| Total equity and liabilities | 10/49 | €546,415 | €524,156 | -€22,259 | -4.1% |
| Equity | 10/15 | €221,829 | €228,196 | +€6,367 | +2.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €215,632 | €221,999 | +€6,367 | +3.0% |
| 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 | €213,772 | €220,139 | +€6,367 | +3.0% |
| Amounts payable | 17/49 | €324,586 | €295,960 | -€28,626 | -8.8% |
| Amounts payable after more than one year | 17 | €262,934 | €244,113 | -€18,821 | -7.2% |
| Financial debts | 170/4 | €262,934 | €244,113 | -€18,821 | -7.2% |
| Amounts payable within one year | 42/48 | €61,472 | €51,847 | -€9,625 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €33,167 | €28,821 | -€4,346 | -13.1% |
| Trade debts | 44 | €11,512 | €8,626 | -€2,886 | -25.1% |
| Suppliers | 440/4 | €11,512 | €8,626 | -€2,886 | -25.1% |
| Taxes, remuneration and social security | 45 | €16,793 | €14,400 | -€2,393 | -14.3% |
| Taxes | 450/3 | €15,113 | €12,720 | -€2,393 | -15.8% |
| Remuneration and social security | 454/9 | €1,680 | €1,680 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €180 | - | -€180 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,673 | €33,946 | +€3,274 | +10.7% |
| Other operating charges | 640/8 | €3,520 | €3,039 | -€482 | -13.7% |
| Gross operating margin | 9900 | €63,120 | €62,460 | -€660 | -1.0% |
| Operating profit (loss) | 9901 | €28,927 | €25,475 | -€3,452 | -11.9% |
| Financial income | 75/76B | €1,502 | €808 | -€694 | -46.2% |
| Recurring financial income | 75 | €1,502 | €808 | -€694 | -46.2% |
| Financial charges | 65/66B | €10,323 | €14,906 | +€4,583 | +44.4% |
| Recurring financial charges | 65 | €10,323 | €14,906 | +€4,583 | +44.4% |
| Profit (loss) for the period before taxes | 9903 | €20,106 | €11,378 | -€8,728 | -43.4% |
| Income taxes | 67/77 | €6,769 | €5,011 | -€1,758 | -26.0% |
| Profit (loss) for the period | 9904 | €13,337 | €6,367 | -€6,970 | -52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,337 | €6,367 | -€6,970 | -52.3% |
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 8 October 2026 via checked.be.