FAFAN: 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.
FAFAN
Largest movements
- Current investments +€456,083
up €456,083 (+111%), from €409,642 to €865,725
- Cash -€205,193
down €205,193 (-90.9%), from €225,701 to €20,508
mainly Current investments (-€456,083) and Smaller working-capital items (-€520)
- Reserves +€199,065
up €199,065 (+26.8%), from €742,090 to €941,156
- Tax, wage and social debts +€47,795
up €47,795 (+347%), from €13,755 to €61,550
- Gross operating margin -€7,690
down €7,690 (-2.7%), from €287,749 to €280,059
- Taxes -€3,168
down €3,168 (-3.3%), from €96,112 to €92,944
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 | €769,153 | €1,015,493 | +€246,340 | +32.0% |
| Current assets | 29/58 | €769,153 | €1,015,493 | +€246,340 | +32.0% |
| Amounts receivable within one year | 40/41 | €133,809 | €129,260 | -€4,549 | -3.4% |
| Trade receivables | 40 | €118,909 | €118,909 | = | 0.0% |
| Other amounts receivable | 41 | €14,900 | €10,351 | -€4,549 | -30.5% |
| Current investments | 50/53 | €409,642 | €865,725 | +€456,083 | +111% |
| Cash at bank and in hand | 54/58 | €225,701 | €20,508 | -€205,193 | -90.9% |
| Total equity and liabilities | 10/49 | €769,153 | €1,015,493 | +€246,340 | +32.0% |
| Equity | 10/15 | €754,490 | €953,556 | +€199,065 | +26.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €742,090 | €941,156 | +€199,065 | +26.8% |
| Distributable reserves | 133 | €742,090 | €941,156 | +€199,065 | +26.8% |
| Amounts payable | 17/49 | €14,662 | €61,937 | +€47,275 | +322% |
| Amounts payable within one year | 42/48 | €14,662 | €61,937 | +€47,275 | +322% |
| Trade debts | 44 | €158 | €387 | +€230 | +146% |
| Suppliers | 440/4 | €158 | €387 | +€230 | +146% |
| Taxes, remuneration and social security | 45 | €13,755 | €61,550 | +€47,795 | +347% |
| Taxes | 450/3 | €13,755 | €61,550 | +€47,795 | +347% |
| Other amounts payable | 47/48 | €749 | €0 | -€749 | -100% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €287,749 | €280,059 | -€7,690 | -2.7% |
| Operating profit (loss) | 9901 | €287,244 | €279,539 | -€7,704 | -2.7% |
| Financial income | 75/76B | €14,604 | €12,524 | -€2,080 | -14.2% |
| Recurring financial income | 75 | €14,604 | €12,524 | -€2,080 | -14.2% |
| Financial charges | 65/66B | €53 | €54 | +€1 | +2.1% |
| Recurring financial charges | 65 | €53 | €54 | +€1 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €301,795 | €292,009 | -€9,786 | -3.2% |
| Income taxes | 67/77 | €96,112 | €92,944 | -€3,168 | -3.3% |
| Profit (loss) for the period | 9904 | €205,683 | €199,065 | -€6,617 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €205,683 | €199,065 | -€6,617 | -3.2% |
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 18 October 2026 via checked.be.