FAIRWAY: 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.
FAIRWAY
Largest movements
- Receivables within one year -€83,235
down €83,235 (-59.6%), from €139,760 to €56,525
of which Trade receivables: -€76,275
- Current investments +€78,581
up €78,581 (+78.6%), from €100,000 to €178,581
- Tangible fixed assets +€16,227
up €16,227 (+28.7%), from €56,479 to €72,706
of which Furniture and vehicles: +€15,892
- Financial fixed assets -€9,500
down €9,500 (-6.3%), from €152,000 to €142,500
- Reserves +€69,752
up €69,752 (+15.0%), from €465,904 to €535,656
- Trade debts -€62,919
down €62,919 (-98.5%), from €63,852 to €933
- Gross operating margin -€69,716
down €69,716 (-28.6%), from €243,645 to €173,928
- Taxes -€22,623
down €22,623 (-42.3%), from €53,514 to €30,891
- Financial income +€7,417
up €7,417 (+2342.4%), from €317 to €7,733
- Depreciation +€4,826
up €4,826 (+113.3%), from €4,260 to €9,087
- Staff costs +€3,301
up €3,301 (+5.5%), from €60,480 to €63,782
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 | €570,966 | €576,333 | +€5,368 | +0.9% |
| Fixed assets | 21/28 | €208,479 | €215,206 | +€6,727 | +3.2% |
| Tangible fixed assets | 22/27 | €56,479 | €72,706 | +€16,227 | +28.7% |
| Furniture and vehicles | 24 | €14,976 | €30,868 | +€15,892 | +106.1% |
| Other tangible fixed assets | 26 | €41,503 | €41,838 | +€335 | +0.8% |
| Financial fixed assets | 28 | €152,000 | €142,500 | -€9,500 | -6.3% |
| Current assets | 29/58 | €362,486 | €361,127 | -€1,359 | -0.4% |
| Amounts receivable within one year | 40/41 | €139,760 | €56,525 | -€83,235 | -59.6% |
| Trade receivables | 40 | €94,701 | €18,426 | -€76,275 | -80.5% |
| Other amounts receivable | 41 | €45,059 | €38,099 | -€6,960 | -15.4% |
| Current investments | 50/53 | €100,000 | €178,581 | +€78,581 | +78.6% |
| Cash at bank and in hand | 54/58 | €119,540 | €123,320 | +€3,780 | +3.2% |
| Deferred charges and accrued income | 490/1 | €3,186 | €2,702 | -€485 | -15.2% |
| Total equity and liabilities | 10/49 | €570,966 | €576,333 | +€5,368 | +0.9% |
| Equity | 10/15 | €484,504 | €554,256 | +€69,752 | +14.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €465,904 | €535,656 | +€69,752 | +15.0% |
| Distributable reserves | 133 | €465,904 | €535,656 | +€69,752 | +15.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €86,462 | €22,078 | -€64,384 | -74.5% |
| Amounts payable within one year | 42/48 | €86,423 | €22,078 | -€64,345 | -74.5% |
| Trade debts | 44 | €63,852 | €933 | -€62,919 | -98.5% |
| Suppliers | 440/4 | €63,852 | €933 | -€62,919 | -98.5% |
| Taxes, remuneration and social security | 45 | €20,971 | €19,426 | -€1,544 | -7.4% |
| Taxes | 450/3 | €13,070 | €11,238 | -€1,832 | -14.0% |
| Remuneration and social security | 454/9 | €7,901 | €8,188 | +€288 | +3.6% |
| Other amounts payable | 47/48 | €1,600 | €1,718 | +€118 | +7.4% |
| Accrued charges and deferred income | 492/3 | €39 | €0 | -€39 | -100.0% |
| Non-recurring operating income | 76A | €4,500 | €0 | -€4,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €60,480 | €63,782 | +€3,301 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,260 | €9,087 | +€4,826 | +113.3% |
| Other operating charges | 640/8 | €1,497 | €1,604 | +€107 | +7.2% |
| Gross operating margin | 9900 | €243,645 | €173,928 | -€69,716 | -28.6% |
| Operating profit (loss) | 9901 | €177,407 | €99,456 | -€77,951 | -43.9% |
| Financial income | 75/76B | €317 | €7,733 | +€7,417 | +2342.4% |
| Recurring financial income | 75 | €317 | €7,733 | +€7,417 | +2342.4% |
| Financial charges | 65/66B | €2,893 | €4,828 | +€1,935 | +66.9% |
| Recurring financial charges | 65 | €2,893 | €4,828 | +€1,935 | +66.9% |
| Profit (loss) for the period before taxes | 9903 | €174,831 | €102,361 | -€72,470 | -41.5% |
| Income taxes | 67/77 | €53,514 | €30,891 | -€22,623 | -42.3% |
| Profit (loss) for the period | 9904 | €121,317 | €71,470 | -€49,847 | -41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €121,317 | €71,470 | -€49,847 | -41.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.