FAIM: 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.
FAIM
Largest movements
- Tangible fixed assets -€79,890
down €79,890 (-7.9%), from €1.0m to €931,178
of which Other tangible fixed assets: -€49,309
- Cash -€28,311
down €28,311 (-41.9%), from €67,570 to €39,258
mainly Debts after one year (-€88,917) and Accrued charges and deferred income (-€29,380)
- Debts after one year -€88,917
down €88,917 (-14.8%), from €602,099 to €513,183
- Accrued charges and deferred income -€29,380
down €29,380 (-70.2%), from €41,837 to €12,457
- Reserves +€29,179
up €29,179 (+32.2%), from €90,518 to €119,697
of which Distributable reserves: +€30,547
- Advances received -€18,306
down €18,306 (-24.1%), from €76,011 to €57,705
- Gross operating margin +€33,592
up €33,592 (+4.5%), from €750,493 to €784,085
- Staff costs +€29,781
up €29,781 (+4.8%), from €615,435 to €645,216
- Depreciation +€8,340
up €8,340 (+10.6%), from €78,961 to €87,301
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 | €1,156,632 | €1,041,057 | -€115,575 | -10.0% |
| Fixed assets | 21/28 | €1,011,203 | €931,313 | -€79,890 | -7.9% |
| Tangible fixed assets | 22/27 | €1,011,068 | €931,178 | -€79,890 | -7.9% |
| Land and buildings | 22 | €113,327 | €105,820 | -€7,506 | -6.6% |
| Plant, machinery and equipment | 23 | €178,414 | €160,904 | -€17,511 | -9.8% |
| Furniture and vehicles | 24 | €26,916 | €21,351 | -€5,564 | -20.7% |
| Other tangible fixed assets | 26 | €692,411 | €643,103 | -€49,309 | -7.1% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €145,430 | €109,744 | -€35,686 | -24.5% |
| Amounts receivable after more than one year | 29 | €5,341 | €5,341 | = | 0.0% |
| Other amounts receivable | 291 | €5,341 | €5,341 | = | 0.0% |
| Stocks and contracts in progress | 3 | €26,975 | €18,374 | -€8,601 | -31.9% |
| Stocks | 30/36 | €26,975 | €18,374 | -€8,601 | -31.9% |
| Amounts receivable within one year | 40/41 | €37,019 | €38,449 | +€1,430 | +3.9% |
| Trade receivables | 40 | €30,263 | €32,990 | +€2,727 | +9.0% |
| Other amounts receivable | 41 | €6,756 | €5,459 | -€1,297 | -19.2% |
| Current investments | 50/53 | €7,804 | €7,804 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,570 | €39,258 | -€28,311 | -41.9% |
| Deferred charges and accrued income | 490/1 | €720 | €517 | -€203 | -28.2% |
| Total equity and liabilities | 10/49 | €1,156,632 | €1,041,057 | -€115,575 | -10.0% |
| Equity | 10/15 | €109,118 | €138,297 | +€29,179 | +26.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €90,518 | €119,697 | +€29,179 | +32.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,735 | €27,367 | -€1,368 | -4.8% |
| Distributable reserves | 133 | €59,923 | €90,471 | +€30,547 | +51.0% |
| Provisions and deferred taxes | 16 | €9,578 | €9,122 | -€456 | -4.8% |
| Deferred taxes | 168 | €9,578 | €9,122 | -€456 | -4.8% |
| Amounts payable | 17/49 | €1,037,936 | €893,637 | -€144,298 | -13.9% |
| Amounts payable after more than one year | 17 | €602,099 | €513,183 | -€88,917 | -14.8% |
| Financial debts | 170/4 | €602,099 | €513,183 | -€88,917 | -14.8% |
| Amounts payable within one year | 42/48 | €393,999 | €367,997 | -€26,002 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €112,187 | €103,829 | -€8,358 | -7.4% |
| Trade debts | 44 | €76,994 | €82,730 | +€5,736 | +7.5% |
| Suppliers | 440/4 | €76,994 | €82,730 | +€5,736 | +7.5% |
| Advances received on contracts in progress | 46 | €76,011 | €57,705 | -€18,306 | -24.1% |
| Taxes, remuneration and social security | 45 | €54,031 | €48,957 | -€5,074 | -9.4% |
| Taxes | 450/3 | €12,227 | €15,127 | +€2,899 | +23.7% |
| Remuneration and social security | 454/9 | €41,804 | €33,831 | -€7,973 | -19.1% |
| Other amounts payable | 47/48 | €74,776 | €74,776 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €41,837 | €12,457 | -€29,380 | -70.2% |
| Remuneration, social security and pensions | 62 | €615,435 | €645,216 | +€29,781 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,961 | €87,301 | +€8,340 | +10.6% |
| Other operating charges | 640/8 | €6,810 | €5,606 | -€1,203 | -17.7% |
| Gross operating margin | 9900 | €750,493 | €784,085 | +€33,592 | +4.5% |
| Operating profit (loss) | 9901 | €49,287 | €45,962 | -€3,326 | -6.7% |
| Financial charges | 65/66B | €12,689 | €10,362 | -€2,327 | -18.3% |
| Recurring financial charges | 65 | €12,689 | €10,362 | -€2,327 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €36,598 | €35,599 | -€999 | -2.7% |
| Transfer from deferred taxes | 780 | €456 | €456 | = | 0.0% |
| Income taxes | 67/77 | €761 | €6,877 | +€6,115 | +803% |
| Profit (loss) for the period | 9904 | €36,293 | €29,179 | -€7,114 | -19.6% |
| Transfer from tax-exempt reserves | 789 | €1,368 | €1,368 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,662 | €30,547 | -€7,114 | -18.9% |
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 13 October 2026 via checked.be.