FAES: 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.
FAES
Largest movements
- Cash -€140,247
down €140,247 (-50.7%), from €276,881 to €136,634
mainly Contributions, distributions and other (-€104,170) and Investment in fixed assets (net) (-€74,402)
- Current investments -€53,513
down €53,513 (-17.9%), from €299,567 to €246,054
- Reserves -€104,170
down €104,170 (-13.7%), from €759,868 to €655,698
of which Distributable reserves: -€104,170
- Tax, wage and social debts -€34,934
down €34,934 (-92.6%), from €37,734 to €2,800
of which Taxes: -€32,084
- Profit (loss) carried forward -€33,006
down €33,006 (-25.0%), from €131,944 to €98,938
- Debts after one year -€18,614
down €18,614 (-17.0%), from €109,538 to €90,924
- Gross operating margin -€537,023
down €537,023 (-99.2%), from €541,540 to €4,516
- Taxes -€131,052
down €131,052 (-99.8%), from €131,354 to €302
- Staff costs -€89,341
down €89,341 (-99.8%), from €89,535 to €194
- Depreciation +€15,503
up €15,503 (+29.8%), from €52,028 to €67,531
- Financial income +€13,066
up €13,066 (+45.5%), from €28,711 to €41,777
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 | €1,144,375 | €946,044 | -€198,331 | -17.3% |
| Fixed assets | 21/28 | €545,699 | €552,570 | +€6,871 | +1.3% |
| Intangible fixed assets | 21 | €24,378 | €21,878 | -€2,500 | -10.3% |
| Tangible fixed assets | 22/27 | €521,195 | €530,566 | +€9,371 | +1.8% |
| Land and buildings | 22 | €449,466 | €466,637 | +€17,171 | +3.8% |
| Plant, machinery and equipment | 23 | €19,241 | €17,556 | -€1,685 | -8.8% |
| Furniture and vehicles | 24 | €52,488 | €46,374 | -€6,115 | -11.6% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €598,676 | €393,474 | -€205,202 | -34.3% |
| Amounts receivable within one year | 40/41 | €21,035 | €10,048 | -€10,986 | -52.2% |
| Trade receivables | 40 | €16,141 | €8,380 | -€7,761 | -48.1% |
| Other amounts receivable | 41 | €4,894 | €1,668 | -€3,226 | -65.9% |
| Current investments | 50/53 | €299,567 | €246,054 | -€53,513 | -17.9% |
| Cash at bank and in hand | 54/58 | €276,881 | €136,634 | -€140,247 | -50.7% |
| Deferred charges and accrued income | 490/1 | €1,194 | €738 | -€456 | -38.2% |
| Total equity and liabilities | 10/49 | €1,144,375 | €946,044 | -€198,331 | -17.3% |
| Equity | 10/15 | €961,812 | €824,636 | -€137,176 | -14.3% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €759,868 | €655,698 | -€104,170 | -13.7% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €752,868 | €648,698 | -€104,170 | -13.8% |
| Profit (loss) carried forward | 14 | €131,944 | €98,938 | -€33,006 | -25.0% |
| Amounts payable | 17/49 | €182,563 | €121,408 | -€61,155 | -33.5% |
| Amounts payable after more than one year | 17 | €109,538 | €90,924 | -€18,614 | -17.0% |
| Financial debts | 170/4 | €109,538 | €90,924 | -€18,614 | -17.0% |
| Amounts payable within one year | 42/48 | €69,844 | €27,200 | -€42,644 | -61.1% |
| Current portion of amounts payable after more than one year | 42 | €17,721 | €18,614 | +€893 | +5.0% |
| Trade debts | 44 | €7,462 | €4,874 | -€2,588 | -34.7% |
| Suppliers | 440/4 | €7,462 | €4,874 | -€2,588 | -34.7% |
| Advances received on contracts in progress | 46 | €3,519 | - | -€3,519 | |
| Taxes, remuneration and social security | 45 | €37,734 | €2,800 | -€34,934 | -92.6% |
| Taxes | 450/3 | €32,584 | €500 | -€32,084 | -98.5% |
| Remuneration and social security | 454/9 | €5,150 | €2,300 | -€2,850 | -55.3% |
| Other amounts payable | 47/48 | €3,407 | €911 | -€2,496 | -73.3% |
| Accrued charges and deferred income | 492/3 | €3,182 | €3,285 | +€103 | +3.2% |
| Non-recurring operating income | 76A | €359,750 | - | -€359,750 | |
| Remuneration, social security and pensions | 62 | €89,535 | €194 | -€89,341 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,028 | €67,531 | +€15,503 | +29.8% |
| Other operating charges | 640/8 | €5,349 | €5,800 | +€451 | +8.4% |
| Gross operating margin | 9900 | €541,540 | €4,516 | -€537,023 | -99.2% |
| Operating profit (loss) | 9901 | €394,628 | -€69,009 | -€463,637 | |
| Financial income | 75/76B | €28,711 | €41,777 | +€13,066 | +45.5% |
| Recurring financial income | 75 | €28,711 | €41,777 | +€13,066 | +45.5% |
| Financial charges | 65/66B | €127 | €5,472 | +€5,345 | +4,211% |
| Recurring financial charges | 65 | €127 | €5,472 | +€5,345 | +4,211% |
| Profit (loss) for the period before taxes | 9903 | €423,212 | -€32,704 | -€455,916 | |
| Income taxes | 67/77 | €131,354 | €302 | -€131,052 | -99.8% |
| Profit (loss) for the period | 9904 | €291,858 | -€33,006 | -€324,864 | |
| Profit (loss) for the period to be appropriated | 9905 | €291,858 | -€33,006 | -€324,864 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.