FAES PROJECTS: 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 PROJECTS
Largest movements
- Tangible fixed assets +€35,055
up €35,055 (+5248.2%), from €668 to €35,723
- Cash +€13,460
up €13,460 (+641.4%), from €2,099 to €15,559
mainly Other debts (+€43,565) and Depreciation (+€5,758)
- Receivables within one year -€5,641
down €5,641 (-83.6%), from €6,752 to €1,110
of which Trade receivables: -€5,731
- Other debts +€43,565
up €43,565 (+283.4%), from €15,374 to €58,939
- Profit (loss) carried forward +€4,931
up €4,931 (+11.6%), from -€42,541 to -€37,609
- Tax, wage and social debts -€2,757
down €2,757 (-100.0%), from €2,757 to €0
- Trade debts -€2,639
down €2,639 (-73.4%), from €3,595 to €956
- Gross operating margin +€14,610
up €14,610, from -€3,018 to €11,592
- Depreciation +€5,702
up €5,702 (+10274.4%), from €56 to €5,758
- Other operating charges -€273
down €273 (-28.7%), from €948 to €676
- Financial charges -€247
down €247 (-52.1%), from €474 to €227
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 | €11,960 | €55,060 | +€43,100 | +360.4% |
| Fixed assets | 21/28 | €1,048 | €36,103 | +€35,055 | +3345.1% |
| Tangible fixed assets | 22/27 | €668 | €35,723 | +€35,055 | +5248.2% |
| Furniture and vehicles | 24 | €668 | €35,723 | +€35,055 | +5248.2% |
| Financial fixed assets | 28 | €380 | €380 | = | 0.0% |
| Current assets | 29/58 | €10,912 | €18,958 | +€8,046 | +73.7% |
| Amounts receivable within one year | 40/41 | €6,752 | €1,110 | -€5,641 | -83.6% |
| Trade receivables | 40 | €5,755 | €23 | -€5,731 | -99.6% |
| Other amounts receivable | 41 | €997 | €1,087 | +€90 | +9.0% |
| Cash at bank and in hand | 54/58 | €2,099 | €15,559 | +€13,460 | +641.4% |
| Deferred charges and accrued income | 490/1 | €2,062 | €2,289 | +€227 | +11.0% |
| Total equity and liabilities | 10/49 | €11,960 | €55,060 | +€43,100 | +360.4% |
| Equity | 10/15 | -€9,767 | -€4,835 | +€4,931 | +50.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €14,182 | €14,182 | = | 0.0% |
| Distributable reserves | 133 | €14,182 | €14,182 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,541 | -€37,609 | +€4,931 | +11.6% |
| Amounts payable | 17/49 | €21,727 | €59,895 | +€38,169 | +175.7% |
| Amounts payable within one year | 42/48 | €21,727 | €59,895 | +€38,169 | +175.7% |
| Trade debts | 44 | €3,595 | €956 | -€2,639 | -73.4% |
| Suppliers | 440/4 | €3,595 | €956 | -€2,639 | -73.4% |
| Taxes, remuneration and social security | 45 | €2,757 | €0 | -€2,757 | -100.0% |
| Remuneration and social security | 454/9 | €2,757 | €0 | -€2,757 | -100.0% |
| Other amounts payable | 47/48 | €15,374 | €58,939 | +€43,565 | +283.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56 | €5,758 | +€5,702 | +10274.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €948 | €676 | -€273 | -28.7% |
| Gross operating margin | 9900 | -€3,018 | €11,592 | +€14,610 | |
| Operating profit (loss) | 9901 | -€4,022 | €5,158 | +€9,180 | |
| Financial income | 75/76B | €9 | €0 | -€9 | -100.0% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -100.0% |
| Financial charges | 65/66B | €474 | €227 | -€247 | -52.1% |
| Recurring financial charges | 65 | €474 | €227 | -€247 | -52.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,487 | €4,931 | +€9,418 | |
| Profit (loss) for the period | 9904 | -€4,487 | €4,931 | +€9,418 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,487 | €4,931 | +€9,418 |
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 9 October 2026 via checked.be.