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
- Tangible fixed assets -€24,015
down €24,015 (-3.5%), from €691,490 to €667,476
- Current portion of long-term debt -€28,042
down €28,042 (-100%), from €28,042 to €0
- Accrued charges and deferred income +€8,596
up €8,596, from €0 to €8,596
- Gross operating margin -€2,899
down €2,899 (-7.2%), from €40,436 to €37,537
- Financial charges -€2,193
down €2,193 (-68.8%), from €3,186 to €994
- Other operating charges -€1,328
down €1,328 (-12.9%), from €10,324 to €8,996
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 | €692,054 | €668,018 | -€24,036 | -3.5% |
| Fixed assets | 21/28 | €691,989 | €667,974 | -€24,015 | -3.5% |
| Tangible fixed assets | 22/27 | €691,490 | €667,476 | -€24,015 | -3.5% |
| Land and buildings | 22 | €691,490 | €667,476 | -€24,015 | -3.5% |
| Financial fixed assets | 28 | €498 | €498 | = | 0.0% |
| Current assets | 29/58 | €65 | €44 | -€21 | -32.7% |
| Cash at bank and in hand | 54/58 | €65 | €44 | -€21 | -32.7% |
| Total equity and liabilities | 10/49 | €692,054 | €668,018 | -€24,036 | -3.5% |
| Equity | 10/15 | €51,349 | €54,882 | +€3,533 | +6.9% |
| Contributions | 10/11 | €441,000 | €441,000 | = | 0.0% |
| Capital | 10 | €441,000 | €441,000 | = | 0.0% |
| Issued capital | 100 | €441,000 | €441,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€389,651 | -€386,118 | +€3,533 | +0.9% |
| Amounts payable | 17/49 | €640,704 | €613,136 | -€27,569 | -4.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €640,704 | €604,539 | -€36,165 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €28,042 | €0 | -€28,042 | -100% |
| Trade debts | 44 | €4,604 | €136 | -€4,468 | -97.1% |
| Suppliers | 440/4 | €4,604 | €136 | -€4,468 | -97.1% |
| Other amounts payable | 47/48 | €608,058 | €604,404 | -€3,654 | -0.6% |
| Accrued charges and deferred income | 492/3 | €0 | €8,596 | +€8,596 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,015 | €24,015 | = | 0.0% |
| Other operating charges | 640/8 | €10,324 | €8,996 | -€1,328 | -12.9% |
| Gross operating margin | 9900 | €40,436 | €37,537 | -€2,899 | -7.2% |
| Operating profit (loss) | 9901 | €6,098 | €4,527 | -€1,571 | -25.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,186 | €994 | -€2,193 | -68.8% |
| Recurring financial charges | 65 | €3,186 | €994 | -€2,193 | -68.8% |
| Profit (loss) for the period before taxes | 9903 | €2,912 | €3,533 | +€621 | +21.3% |
| Profit (loss) for the period | 9904 | €2,912 | €3,533 | +€621 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,912 | €3,533 | +€621 | +21.3% |
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 20 October 2026 via checked.be.