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
- Cash -€7,998
down €7,998 (-64.8%), from €12,334 to €4,336
mainly Debts after one year (-€26,481) and Other debts (-€2,921)
- Debts after one year -€26,481
down €26,481 (-11.4%), from €232,808 to €206,327
- Profit (loss) carried forward +€11,859
up €11,859, from -€6,708 to €5,151
- Accrued charges and deferred income +€5,381
up €5,381 (+50.4%), from €10,679 to €16,060
- Depreciation -€12,503
down €12,503 (-94.8%), from €13,187 to €684
- Gross operating margin -€6,144
down €6,144 (-18.4%), from €33,368 to €27,224
- Taxes +€1,460
new in 2025: €1,460
- Financial charges -€335
down €335 (-2.9%), from €11,587 to €11,252
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 | €523,242 | €510,282 | -€12,960 | -2.5% |
| Fixed assets | 21/28 | €505,789 | €505,105 | -€684 | -0.1% |
| Tangible fixed assets | 22/27 | €505,289 | €504,605 | -€684 | -0.1% |
| Land and buildings | 22 | €505,289 | €504,605 | -€684 | -0.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €17,453 | €5,177 | -€12,276 | -70.3% |
| Amounts receivable within one year | 40/41 | €3,543 | - | -€3,543 | |
| Trade receivables | 40 | €3,543 | - | -€3,543 | |
| Cash at bank and in hand | 54/58 | €12,334 | €4,336 | -€7,998 | -64.8% |
| Deferred charges and accrued income | 490/1 | €1,576 | €841 | -€735 | -46.6% |
| Total equity and liabilities | 10/49 | €523,242 | €510,282 | -€12,960 | -2.5% |
| Equity | 10/15 | -€508 | €11,351 | +€11,859 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,708 | €5,151 | +€11,859 | |
| Amounts payable | 17/49 | €523,750 | €498,931 | -€24,819 | -4.7% |
| Amounts payable after more than one year | 17 | €232,808 | €206,327 | -€26,481 | -11.4% |
| Financial debts | 170/4 | €232,808 | €206,327 | -€26,481 | -11.4% |
| Amounts payable within one year | 42/48 | €280,263 | €276,544 | -€3,719 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €25,870 | €26,480 | +€610 | +2.4% |
| Trade debts | 44 | €5,310 | €2,441 | -€2,869 | -54.0% |
| Suppliers | 440/4 | €5,310 | €2,441 | -€2,869 | -54.0% |
| Taxes, remuneration and social security | 45 | - | €1,461 | +€1,461 | |
| Taxes | 450/3 | - | €1,461 | +€1,461 | |
| Other amounts payable | 47/48 | €249,083 | €246,162 | -€2,921 | -1.2% |
| Accrued charges and deferred income | 492/3 | €10,679 | €16,060 | +€5,381 | +50.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,187 | €684 | -€12,503 | -94.8% |
| Other operating charges | 640/8 | €1,916 | €1,969 | +€53 | +2.8% |
| Gross operating margin | 9900 | €33,368 | €27,224 | -€6,144 | -18.4% |
| Operating profit (loss) | 9901 | €18,265 | €24,571 | +€6,306 | +34.5% |
| Financial charges | 65/66B | €11,587 | €11,252 | -€335 | -2.9% |
| Recurring financial charges | 65 | €11,587 | €11,252 | -€335 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €6,678 | €13,319 | +€6,641 | +99.4% |
| Income taxes | 67/77 | - | €1,460 | +€1,460 | |
| Profit (loss) for the period | 9904 | €6,678 | €11,859 | +€5,181 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,678 | €11,859 | +€5,181 | +77.6% |
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 12 October 2026 via checked.be.