FADI: 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.
FADI
Largest movements
- Tangible fixed assets -€30,948
down €30,948 (-2.3%), from €1.4m to €1.3m
of which Land and buildings: -€50,117
- Cash -€21,084
down €21,084 (-28.0%), from €75,193 to €54,109
mainly Debts after one year (-€95,118) and Investment in fixed assets (net) (-€26,527)
- Debts after one year -€95,118
down €95,118 (-7.7%), from €1.2m to €1.1m
of which Financial debts: -€169,575
- Trade debts +€20,363
up €20,363 (+1,370%), from €1,486 to €21,849
- Reserves +€19,599
up €19,599 (+27.9%), from €70,233 to €89,831
of which Distributable reserves: +€19,599
- Gross operating margin -€24,644
down €24,644 (-17.0%), from €144,708 to €120,064
- Taxes -€12,082
down €12,082 (-51.6%), from €23,409 to €11,327
- Other operating charges -€3,409
down €3,409 (-38.1%), from €8,956 to €5,547
- Financial charges -€3,032
down €3,032 (-10.4%), from €29,152 to €26,120
- Depreciation +€1,863
up €1,863 (+3.4%), from €55,611 to €57,474
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 | €1,468,684 | €1,415,871 | -€52,813 | -3.6% |
| Fixed assets | 21/28 | €1,374,896 | €1,343,949 | -€30,948 | -2.3% |
| Tangible fixed assets | 22/27 | €1,374,896 | €1,343,949 | -€30,948 | -2.3% |
| Land and buildings | 22 | €1,339,974 | €1,289,857 | -€50,117 | -3.7% |
| Plant, machinery and equipment | 23 | €24,690 | €23,000 | -€1,690 | -6.8% |
| Furniture and vehicles | 24 | €10,233 | €31,092 | +€20,859 | +204% |
| Current assets | 29/58 | €93,787 | €71,922 | -€21,865 | -23.3% |
| Amounts receivable within one year | 40/41 | €17,476 | €15,547 | -€1,929 | -11.0% |
| Trade receivables | 40 | €15,006 | €11,013 | -€3,993 | -26.6% |
| Other amounts receivable | 41 | €2,470 | €4,534 | +€2,064 | +83.6% |
| Cash at bank and in hand | 54/58 | €75,193 | €54,109 | -€21,084 | -28.0% |
| Deferred charges and accrued income | 490/1 | €1,118 | €2,266 | +€1,148 | +103% |
| Total equity and liabilities | 10/49 | €1,468,684 | €1,415,871 | -€52,813 | -3.6% |
| Equity | 10/15 | €109,775 | €129,374 | +€19,599 | +17.9% |
| Contributions | 10/11 | €44,850 | €44,850 | = | 0.0% |
| Reserves | 13 | €70,233 | €89,831 | +€19,599 | +27.9% |
| Non-distributable reserves | 130/1 | €3,045 | €3,045 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,045 | €3,045 | = | 0.0% |
| Distributable reserves | 133 | €67,188 | €86,786 | +€19,599 | +29.2% |
| Profit (loss) carried forward | 14 | -€5,308 | -€5,308 | = | 0.0% |
| Amounts payable | 17/49 | €1,358,909 | €1,286,497 | -€72,411 | -5.3% |
| Amounts payable after more than one year | 17 | €1,236,910 | €1,141,793 | -€95,118 | -7.7% |
| Financial debts | 170/4 | €866,850 | €697,275 | -€169,575 | -19.6% |
| Other amounts payable | 178/9 | €370,060 | €444,518 | +€74,457 | +20.1% |
| Amounts payable within one year | 42/48 | €121,999 | €144,705 | +€22,706 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €105,199 | €101,381 | -€3,818 | -3.6% |
| Trade debts | 44 | €1,486 | €21,849 | +€20,363 | +1,370% |
| Suppliers | 440/4 | €1,486 | €21,849 | +€20,363 | +1,370% |
| Taxes, remuneration and social security | 45 | €15,314 | €21,475 | +€6,161 | +40.2% |
| Taxes | 450/3 | €15,314 | €21,475 | +€6,161 | +40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,611 | €57,474 | +€1,863 | +3.4% |
| Other operating charges | 640/8 | €8,956 | €5,547 | -€3,409 | -38.1% |
| Non-recurring operating charges | 66A | €200 | €0 | -€200 | -100% |
| Gross operating margin | 9900 | €144,708 | €120,064 | -€24,644 | -17.0% |
| Operating profit (loss) | 9901 | €79,941 | €57,043 | -€22,898 | -28.6% |
| Financial income | 75/76B | €0 | €4 | +€3 | +1,110% |
| Recurring financial income | 75 | €0 | €4 | +€3 | +1,110% |
| Financial charges | 65/66B | €29,152 | €26,120 | -€3,032 | -10.4% |
| Recurring financial charges | 65 | €29,152 | €26,120 | -€3,032 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €50,789 | €30,926 | -€19,864 | -39.1% |
| Income taxes | 67/77 | €23,409 | €11,327 | -€12,082 | -51.6% |
| Profit (loss) for the period | 9904 | €27,380 | €19,599 | -€7,782 | -28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,380 | €19,599 | -€7,782 | -28.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.