FAER: 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.
FAER
Largest movements
- Cash -€18,232
down €18,232 (-98.3%), from €18,544 to €311
mainly Net result for the year (-€62,109) and Tax, wage and social debts (-€16,674)
- Tangible fixed assets -€12,112
down €12,112 (-44.0%), from €27,507 to €15,395
- Receivables within one year -€3,515
down €3,515 (-5.0%), from €70,261 to €66,746
of which Trade receivables: -€3,352
- Stocks and contracts -€2,000
no longer reported in 2025 (was €2,000)
- Profit (loss) carried forward -€62,109
down €62,109 (-106.7%), from -€58,191 to -€120,300
- Trade debts +€45,471
up €45,471 (+2475.0%), from €1,837 to €47,309
- Tax, wage and social debts -€16,674
down €16,674 (-87.8%), from €18,995 to €2,321
- Debts after one year -€8,028
down €8,028 (-34.5%), from €23,286 to €15,258
- Short-term financial debts +€4,260
new in 2025: €4,260
- Gross operating margin -€168,991
down €168,991 (-70.0%), from €241,355 to €72,364
- Staff costs -€115,098
down €115,098 (-49.6%), from €231,886 to €116,788
- Depreciation +€4,135
up €4,135 (+85.0%), from €4,864 to €8,999
- Taxes +€2,751
new in 2025: €2,751
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €122,658 | €86,178 | -€36,480 | -29.7% |
| Fixed assets | 21/28 | €27,715 | €15,603 | -€12,112 | -43.7% |
| Tangible fixed assets | 22/27 | €27,507 | €15,395 | -€12,112 | -44.0% |
| Furniture and vehicles | 24 | €27,507 | €15,395 | -€12,112 | -44.0% |
| Financial fixed assets | 28 | €208 | €208 | = | 0.0% |
| Current assets | 29/58 | €94,943 | €70,575 | -€24,368 | -25.7% |
| Stocks and contracts in progress | 3 | €2,000 | - | -€2,000 | |
| Stocks | 30/36 | €2,000 | - | -€2,000 | |
| Amounts receivable within one year | 40/41 | €70,261 | €66,746 | -€3,515 | -5.0% |
| Trade receivables | 40 | €65,298 | €61,946 | -€3,352 | -5.1% |
| Other amounts receivable | 41 | €4,963 | €4,799 | -€163 | -3.3% |
| Cash at bank and in hand | 54/58 | €18,544 | €311 | -€18,232 | -98.3% |
| Deferred charges and accrued income | 490/1 | €4,138 | €3,518 | -€620 | -15.0% |
| Total equity and liabilities | 10/49 | €122,658 | €86,178 | -€36,480 | -29.7% |
| Equity | 10/15 | -€39,591 | -€101,700 | -€62,109 | -156.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,191 | -€120,300 | -€62,109 | -106.7% |
| Amounts payable | 17/49 | €162,249 | €187,878 | +€25,629 | +15.8% |
| Amounts payable after more than one year | 17 | €23,286 | €15,258 | -€8,028 | -34.5% |
| Financial debts | 170/4 | €23,286 | €15,258 | -€8,028 | -34.5% |
| Amounts payable within one year | 42/48 | €138,963 | €172,620 | +€33,657 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | €13,164 | €13,595 | +€431 | +3.3% |
| Financial debts | 43 | - | €4,260 | +€4,260 | |
| Credit institutions | 430/8 | - | €4,260 | +€4,260 | |
| Trade debts | 44 | €1,837 | €47,309 | +€45,471 | +2475.0% |
| Suppliers | 440/4 | €1,837 | €47,309 | +€45,471 | +2475.0% |
| Taxes, remuneration and social security | 45 | €18,995 | €2,321 | -€16,674 | -87.8% |
| Remuneration and social security | 454/9 | €18,995 | €2,321 | -€16,674 | -87.8% |
| Other amounts payable | 47/48 | €104,966 | €105,135 | +€169 | +0.2% |
| Non-recurring operating income | 76A | €579 | €2,676 | +€2,097 | +362.5% |
| Remuneration, social security and pensions | 62 | €231,886 | €116,788 | -€115,098 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,864 | €8,999 | +€4,135 | +85.0% |
| Other operating charges | 640/8 | €1,600 | €1,675 | +€76 | +4.7% |
| Non-recurring operating charges | 66A | - | €1,577 | +€1,577 | |
| Gross operating margin | 9900 | €241,355 | €72,364 | -€168,991 | -70.0% |
| Operating profit (loss) | 9901 | €3,005 | -€56,676 | -€59,681 | |
| Financial income | 75/76B | €401 | €68 | -€333 | -83.1% |
| Recurring financial income | 75 | €401 | €68 | -€333 | -83.1% |
| Financial charges | 65/66B | €3,303 | €2,750 | -€553 | -16.7% |
| Recurring financial charges | 65 | €3,303 | €2,750 | -€553 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €103 | -€59,358 | -€59,461 | |
| Income taxes | 67/77 | - | €2,751 | +€2,751 | |
| Profit (loss) for the period | 9904 | €103 | -€62,109 | -€62,212 | |
| Profit (loss) for the period to be appropriated | 9905 | €103 | -€62,109 | -€62,212 |
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 10 October 2026 via checked.be.