FAHRENHEIT: 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.
FAHRENHEIT
Largest movements
- Cash -€32,256
down €32,256 (-20.0%), from €161,660 to €129,404
mainly Debts after one year (-€19,990) and Net result for the year (-€13,905)
- Tangible fixed assets -€11,278
down €11,278 (-10.2%), from €110,200 to €98,922
of which Land and buildings: -€7,199
- Debts after one year -€19,990
down €19,990 (-5.8%), from €344,932 to €324,941
of which Financial debts: -€19,990
- Reserves -€13,905
down €13,905 (-29.1%), from €47,802 to €33,897
of which Distributable reserves: -€12,900
- Other debts -€6,145
no longer reported in 2025 (was €6,145)
- Gross operating margin +€4,529
up €4,529, from -€3,406 to €1,123
- Other operating charges +€979
up €979 (+37.3%), from €2,620 to €3,599
- Depreciation -€454
down €454 (-3.9%), from €11,732 to €11,278
- Financial charges +€204
up €204 (+85.4%), from €239 to €442
- Taxes +€50
up €50 (+28.5%), from €176 to €226
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 | €539,540 | €494,933 | -€44,606 | -8.3% |
| Fixed assets | 21/28 | €210,990 | €199,712 | -€11,278 | -5.3% |
| Tangible fixed assets | 22/27 | €110,200 | €98,922 | -€11,278 | -10.2% |
| Land and buildings | 22 | €89,969 | €82,770 | -€7,199 | -8.0% |
| Plant, machinery and equipment | 23 | €12,086 | €8,007 | -€4,079 | -33.7% |
| Furniture and vehicles | 24 | €8,145 | €8,145 | = | 0.0% |
| Financial fixed assets | 28 | €100,790 | €100,790 | = | 0.0% |
| Current assets | 29/58 | €328,550 | €295,221 | -€33,329 | -10.1% |
| Amounts receivable after more than one year | 29 | €165,247 | €165,247 | = | 0.0% |
| Other amounts receivable | 291 | €165,247 | €165,247 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €826 | €315 | -€511 | -61.9% |
| Other amounts receivable | 41 | €826 | €315 | -€511 | -61.9% |
| Cash at bank and in hand | 54/58 | €161,660 | €129,404 | -€32,256 | -20.0% |
| Deferred charges and accrued income | 490/1 | €817 | €255 | -€562 | -68.8% |
| Total equity and liabilities | 10/49 | €539,540 | €494,933 | -€44,606 | -8.3% |
| Equity | 10/15 | €178,552 | €164,647 | -€13,905 | -7.8% |
| Contributions | 10/11 | €130,750 | €130,750 | = | 0.0% |
| Contributions outside capital | 11 | €130,750 | €130,750 | = | 0.0% |
| Share premium | 1100/10 | €130,750 | €130,750 | = | 0.0% |
| Reserves | 13 | €47,802 | €33,897 | -€13,905 | -29.1% |
| Tax-exempt reserves | 132 | €9,040 | €8,035 | -€1,004 | -11.1% |
| Distributable reserves | 133 | €38,762 | €25,862 | -€12,900 | -33.3% |
| Provisions and deferred taxes | 16 | €4,655 | €4,138 | -€517 | -11.1% |
| Deferred taxes | 168 | €4,655 | €4,138 | -€517 | -11.1% |
| Amounts payable | 17/49 | €356,333 | €326,148 | -€30,185 | -8.5% |
| Amounts payable after more than one year | 17 | €344,932 | €324,941 | -€19,990 | -5.8% |
| Financial debts | 170/4 | €339,758 | €319,768 | -€19,990 | -5.9% |
| Other amounts payable | 178/9 | €5,174 | €5,174 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,401 | €1,207 | -€10,194 | -89.4% |
| Trade debts | 44 | €1,930 | €805 | -€1,124 | -58.3% |
| Suppliers | 440/4 | €1,930 | €805 | -€1,124 | -58.3% |
| Taxes, remuneration and social security | 45 | €3,327 | €402 | -€2,925 | -87.9% |
| Taxes | 450/3 | €3,327 | €402 | -€2,925 | -87.9% |
| Other amounts payable | 47/48 | €6,145 | - | -€6,145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,732 | €11,278 | -€454 | -3.9% |
| Other operating charges | 640/8 | €2,620 | €3,599 | +€979 | +37.3% |
| Gross operating margin | 9900 | -€3,406 | €1,123 | +€4,529 | |
| Operating profit (loss) | 9901 | -€17,758 | -€13,754 | +€4,004 | +22.5% |
| Financial charges | 65/66B | €239 | €442 | +€204 | +85.4% |
| Recurring financial charges | 65 | €239 | €442 | +€204 | +85.4% |
| Profit (loss) for the period before taxes | 9903 | -€17,996 | -€14,196 | +€3,801 | +21.1% |
| Transfer from deferred taxes | 780 | €517 | €517 | = | 0.0% |
| Income taxes | 67/77 | €176 | €226 | +€50 | +28.5% |
| Profit (loss) for the period | 9904 | -€17,655 | -€13,905 | +€3,750 | +21.2% |
| Transfer from tax-exempt reserves | 789 | €1,004 | €1,004 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,651 | -€12,900 | +€3,750 | +22.5% |
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.