Fair Projects: 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.
Fair Projects
Largest movements
- Stocks and contracts -€415,714
down €415,714 (-98.1%), from €423,605 to €7,892
- Receivables within one year +€325,994
up €325,994 (+481.7%), from €67,676 to €393,670
of which Trade receivables: +€335,753
- Deferred charges and accrued income +€288,308
up €288,308 (+265037.6%), from €109 to €288,417
- Current portion of long-term debt +€100,000
new in 2025: €100,000
- Other debts +€74,653
up €74,653 (+19.1%), from €391,346 to €465,999
- Tax, wage and social debts +€58,070
up €58,070 (+3149.3%), from €1,844 to €59,914
- Trade debts -€50,052
down €50,052 (-34.8%), from €144,029 to €93,977
- Profit (loss) carried forward +€26,826
up €26,826 (+61.4%), from -€43,665 to -€16,840
- Gross operating margin +€67,211
up €67,211, from -€32,736 to €34,475
- Financial charges -€3,067
down €3,067 (-33.8%), from €9,068 to €6,001
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 | €495,554 | €705,160 | +€209,605 | +42.3% |
| Formation expenses | 20 | €630 | €422 | -€208 | -33.0% |
| Fixed assets | 21/28 | €2,205 | €6,385 | +€4,180 | +189.6% |
| Tangible fixed assets | 22/27 | €1,032 | €4,377 | +€3,345 | +324.0% |
| Plant, machinery and equipment | 23 | - | €3,300 | +€3,300 | |
| Furniture and vehicles | 24 | €1,032 | €1,078 | +€45 | +4.4% |
| Financial fixed assets | 28 | €1,173 | €2,008 | +€835 | +71.3% |
| Current assets | 29/58 | €492,720 | €698,353 | +€205,633 | +41.7% |
| Stocks and contracts in progress | 3 | €423,605 | €7,892 | -€415,714 | -98.1% |
| Stocks | 30/36 | €423,605 | €7,892 | -€415,714 | -98.1% |
| Amounts receivable within one year | 40/41 | €67,676 | €393,670 | +€325,994 | +481.7% |
| Trade receivables | 40 | €49,170 | €384,923 | +€335,753 | +682.8% |
| Other amounts receivable | 41 | €18,506 | €8,747 | -€9,759 | -52.7% |
| Cash at bank and in hand | 54/58 | €1,329 | €8,374 | +€7,045 | +530.0% |
| Deferred charges and accrued income | 490/1 | €109 | €288,417 | +€288,308 | +265037.6% |
| Total equity and liabilities | 10/49 | €495,554 | €705,160 | +€209,605 | +42.3% |
| Equity | 10/15 | -€41,665 | -€14,840 | +€26,826 | +64.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,665 | -€16,840 | +€26,826 | +61.4% |
| Amounts payable | 17/49 | €537,220 | €720,000 | +€182,780 | +34.0% |
| Amounts payable within one year | 42/48 | €537,220 | €719,890 | +€182,670 | +34.0% |
| Current portion of amounts payable after more than one year | 42 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €144,029 | €93,977 | -€50,052 | -34.8% |
| Suppliers | 440/4 | €144,029 | €93,977 | -€50,052 | -34.8% |
| Taxes, remuneration and social security | 45 | €1,844 | €59,914 | +€58,070 | +3149.3% |
| Taxes | 450/3 | €1,844 | €59,914 | +€58,070 | +3149.3% |
| Other amounts payable | 47/48 | €391,346 | €465,999 | +€74,653 | +19.1% |
| Accrued charges and deferred income | 492/3 | - | €109 | +€109 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €857 | €633 | -€224 | -26.1% |
| Other operating charges | 640/8 | €794 | €767 | -€27 | -3.3% |
| Gross operating margin | 9900 | -€32,736 | €34,475 | +€67,211 | |
| Operating profit (loss) | 9901 | -€34,387 | €33,075 | +€67,462 | |
| Financial income | 75/76B | €34 | €0 | -€34 | -99.4% |
| Recurring financial income | 75 | €34 | €0 | -€34 | -99.4% |
| Financial charges | 65/66B | €9,068 | €6,001 | -€3,067 | -33.8% |
| Recurring financial charges | 65 | €9,068 | €6,001 | -€3,067 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | -€43,421 | €27,074 | +€70,495 | |
| Income taxes | 67/77 | €245 | €249 | +€4 | +1.7% |
| Profit (loss) for the period | 9904 | -€43,665 | €26,826 | +€70,491 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,665 | €26,826 | +€70,491 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.