FAIGNAERT: what changed
Two fiscal 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.
FAIGNAERT
Largest movements
- Tangible fixed assets +€609,065
up €609,065 (+122.7%), from €496,401 to €1.1m
of which Land and buildings: +€595,521
- Cash -€350,293
down €350,293 (-98.6%), from €355,161 to €4,868
mainly Investment in fixed assets (net) (-€674,451) and Receivables within one year (-€3,988)
- Reserves +€188,436
up €188,436 (+9.1%), from €2.1m to €2.3m
of which Tax-exempt reserves: +€188,436
- Other debts +€83,593
up €83,593 (+238.7%), from €35,020 to €118,613
- Profit (loss) carried forward -€53,958
down €53,958 (-16.1%), from €335,224 to €281,266
- Provisions +€47,857
new in 2025: €47,857
- Gross operating margin +€259,817
up €259,817, from -€10,420 to €249,397
- Financial income +€26,306
up €26,306 (+3880.1%), from €678 to €26,984
- Depreciation +€14,615
up €14,615 (+28.8%), from €50,772 to €65,387
- Other operating charges +€9,827
up €9,827 (+76.1%), from €12,912 to €22,739
- Financial charges +€5,259
up €5,259 (+3022.0%), from €174 to €5,433
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 | €2,524,836 | €2,789,788 | +€264,952 | +10.5% |
| Fixed assets | 21/28 | €496,401 | €1,105,466 | +€609,065 | +122.7% |
| Tangible fixed assets | 22/27 | €496,401 | €1,105,466 | +€609,065 | +122.7% |
| Land and buildings | 22 | €444,002 | €1,039,522 | +€595,521 | +134.1% |
| Plant, machinery and equipment | 23 | €762 | €1,463 | +€700 | +91.9% |
| Furniture and vehicles | 24 | €51,637 | €64,481 | +€12,844 | +24.9% |
| Current assets | 29/58 | €2,028,435 | €1,684,322 | -€344,113 | -17.0% |
| Amounts receivable within one year | 40/41 | €1,423 | €5,411 | +€3,988 | +280.2% |
| Trade receivables | 40 | €1,423 | €1,249 | -€174 | -12.2% |
| Other amounts receivable | 41 | - | €4,162 | +€4,162 | |
| Current investments | 50/53 | €1,670,000 | €1,670,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €355,161 | €4,868 | -€350,293 | -98.6% |
| Deferred charges and accrued income | 490/1 | €1,851 | €4,044 | +€2,192 | +118.4% |
| Total equity and liabilities | 10/49 | €2,524,836 | €2,789,788 | +€264,952 | +10.5% |
| Equity | 10/15 | €2,480,055 | €2,614,533 | +€134,478 | +5.4% |
| Contributions | 10/11 | €80,592 | €80,592 | = | 0.0% |
| Reserves | 13 | €2,064,239 | €2,252,675 | +€188,436 | +9.1% |
| Tax-exempt reserves | 132 | €33,863 | €222,300 | +€188,436 | +556.5% |
| Distributable reserves | 133 | €2,030,375 | €2,030,375 | = | 0.0% |
| Profit (loss) carried forward | 14 | €335,224 | €281,266 | -€53,958 | -16.1% |
| Provisions and deferred taxes | 16 | - | €47,857 | +€47,857 | |
| Deferred taxes | 168 | - | €47,857 | +€47,857 | |
| Amounts payable | 17/49 | €44,781 | €127,398 | +€82,617 | +184.5% |
| Amounts payable within one year | 42/48 | €44,781 | €126,524 | +€81,743 | +182.5% |
| Financial debts | 43 | - | €288 | +€288 | |
| Credit institutions | 430/8 | - | €288 | +€288 | |
| Trade debts | 44 | €8,283 | €7,227 | -€1,056 | -12.7% |
| Suppliers | 440/4 | €8,283 | €7,227 | -€1,056 | -12.7% |
| Taxes, remuneration and social security | 45 | €1,478 | €396 | -€1,082 | -73.2% |
| Taxes | 450/3 | €1,478 | €396 | -€1,082 | -73.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €35,020 | €118,613 | +€83,593 | +238.7% |
| Accrued charges and deferred income | 492/3 | €0 | €874 | +€874 | |
| Non-recurring operating income | 76A | - | €240,000 | +€240,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,772 | €65,387 | +€14,615 | +28.8% |
| Other operating charges | 640/8 | €12,912 | €22,739 | +€9,827 | +76.1% |
| Gross operating margin | 9900 | -€10,420 | €249,397 | +€259,817 | |
| Operating profit (loss) | 9901 | -€74,104 | €161,272 | +€235,376 | |
| Financial income | 75/76B | €678 | €26,984 | +€26,306 | +3880.1% |
| Recurring financial income | 75 | €678 | €26,984 | +€26,306 | +3880.1% |
| Financial charges | 65/66B | €174 | €5,433 | +€5,259 | +3022.0% |
| Recurring financial charges | 65 | €174 | €5,433 | +€5,259 | +3022.0% |
| Profit (loss) for the period before taxes | 9903 | -€73,600 | €182,823 | +€256,423 | |
| Transfer from deferred taxes | 780 | - | €143 | +€143 | |
| Transfer to deferred taxes | 680 | - | €48,000 | +€48,000 | |
| Income taxes | 67/77 | €140 | €488 | +€349 | +250.1% |
| Profit (loss) for the period | 9904 | -€73,740 | €134,478 | +€208,218 | |
| Transfer from tax-exempt reserves | 789 | - | €3,564 | +€3,564 | |
| Transfer to tax-exempt reserves | 689 | - | €192,000 | +€192,000 | |
| Profit (loss) for the period to be appropriated | 9905 | -€73,740 | -€53,958 | +€19,781 | +26.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.