FAIRWAYS EVENTS: 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.
FAIRWAYS EVENTS
Largest movements
- Intangible fixed assets +€167,334
new in 2025: €167,334
- Receivables within one year -€164,025
down €164,025 (-93.9%), from €174,674 to €10,649
of which Other amounts receivable: -€155,373
- Tangible fixed assets +€18,442
up €18,442 (+21.1%), from €87,397 to €105,840
of which Other tangible fixed assets: +€18,238
- Cash +€8,920
up €8,920 (+57.9%), from €15,395 to €24,315
mainly Receivables within one year (+€164,025) and Other debts (+€57,658)
- Other debts +€57,658
new in 2025: €57,658
- Trade debts -€57,048
down €57,048 (-64.2%), from €88,814 to €31,766
- Debts after one year +€28,115
up €28,115 (+574%), from €4,900 to €33,015
of which Financial debts: +€27,885
- Gross operating margin -€11,513
down €11,513 (-20.5%), from €56,088 to €44,575
- Depreciation +€8,746
up €8,746 (+171%), from €5,122 to €13,868
- Taxes -€4,698
down €4,698 (-51.9%), from €9,052 to €4,354
- Financial income -€2,888
no longer reported in 2025 (was €2,888)
- Other operating charges +€2,534
up €2,534 (+12.0%), from €21,074 to €23,608
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 | €278,308 | €311,697 | +€33,389 | +12.0% |
| Fixed assets | 21/28 | €87,397 | €273,422 | +€186,024 | +213% |
| Intangible fixed assets | 21 | - | €167,334 | +€167,334 | |
| Tangible fixed assets | 22/27 | €87,397 | €105,840 | +€18,442 | +21.1% |
| Land and buildings | 22 | €38,795 | €38,795 | = | 0.0% |
| Furniture and vehicles | 24 | €8,954 | €9,158 | +€204 | +2.3% |
| Other tangible fixed assets | 26 | €39,648 | €57,886 | +€18,238 | +46.0% |
| Financial fixed assets | 28 | - | €248 | +€248 | |
| Current assets | 29/58 | €190,911 | €38,276 | -€152,635 | -80.0% |
| Amounts receivable within one year | 40/41 | €174,674 | €10,649 | -€164,025 | -93.9% |
| Trade receivables | 40 | €13,930 | €5,279 | -€8,652 | -62.1% |
| Other amounts receivable | 41 | €160,743 | €5,370 | -€155,373 | -96.7% |
| Current investments | 50/53 | €156 | €142 | -€14 | -9.0% |
| Cash at bank and in hand | 54/58 | €15,395 | €24,315 | +€8,920 | +57.9% |
| Deferred charges and accrued income | 490/1 | €686 | €3,170 | +€2,484 | +362% |
| Total equity and liabilities | 10/49 | €278,308 | €311,697 | +€33,389 | +12.0% |
| Equity | 10/15 | €175,352 | €177,536 | +€2,184 | +1.2% |
| Contributions | 10/11 | €87,163 | €87,163 | = | 0.0% |
| Capital | 10 | €87,163 | €87,163 | = | 0.0% |
| Issued capital | 100 | €87,163 | €87,163 | = | 0.0% |
| Reserves | 13 | €20,451 | €20,451 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,716 | €8,716 | = | 0.0% |
| Legal reserve | 130 | €8,716 | €8,716 | = | 0.0% |
| Distributable reserves | 133 | €11,734 | €11,734 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,738 | €69,922 | +€2,184 | +3.2% |
| Amounts payable | 17/49 | €102,956 | €134,162 | +€31,206 | +30.3% |
| Amounts payable after more than one year | 17 | €4,900 | €33,015 | +€28,115 | +574% |
| Financial debts | 170/4 | - | €27,885 | +€27,885 | |
| Other amounts payable | 178/9 | €4,900 | €5,130 | +€230 | +4.7% |
| Amounts payable within one year | 42/48 | €98,056 | €100,722 | +€2,666 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | - | €2,115 | +€2,115 | |
| Trade debts | 44 | €88,814 | €31,766 | -€57,048 | -64.2% |
| Suppliers | 440/4 | €88,814 | €31,766 | -€57,048 | -64.2% |
| Taxes, remuneration and social security | 45 | €9,242 | €9,184 | -€58 | -0.6% |
| Taxes | 450/3 | €9,242 | €9,184 | -€58 | -0.6% |
| Other amounts payable | 47/48 | - | €57,658 | +€57,658 | |
| Accrued charges and deferred income | 492/3 | - | €424 | +€424 | |
| Non-recurring operating income | 76A | - | €1,420 | +€1,420 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,122 | €13,868 | +€8,746 | +171% |
| Other operating charges | 640/8 | €21,074 | €23,608 | +€2,534 | +12.0% |
| Gross operating margin | 9900 | €56,088 | €44,575 | -€11,513 | -20.5% |
| Operating profit (loss) | 9901 | €29,891 | €7,099 | -€22,792 | -76.3% |
| Financial income | 75/76B | €2,888 | - | -€2,888 | |
| Recurring financial income | 75 | €2,888 | - | -€2,888 | |
| Financial charges | 65/66B | €210 | €562 | +€351 | +167% |
| Recurring financial charges | 65 | €210 | €562 | +€351 | +167% |
| Profit (loss) for the period before taxes | 9903 | €32,568 | €6,537 | -€26,031 | -79.9% |
| Income taxes | 67/77 | €9,052 | €4,354 | -€4,698 | -51.9% |
| Profit (loss) for the period | 9904 | €23,517 | €2,184 | -€21,333 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,517 | €2,184 | -€21,333 | -90.7% |
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 29 October 2026 via checked.be.