FAJECO: 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.
FAJECO
Largest movements
- Receivables within one year +€175,406
up €175,406 (+115.1%), from €152,391 to €327,797
of which Trade receivables: +€196,319
- Cash -€25,939
down €25,939 (-22.4%), from €116,034 to €90,095
mainly Receivables within one year (-€175,406) and Net result for the year (-€34,566)
- Tangible fixed assets -€17,862
down €17,862 (-19.1%), from €93,406 to €75,544
of which Furniture and vehicles: -€13,133
- Deferred charges and accrued income -€9,909
down €9,909 (-14.4%), from €68,907 to €58,998
- Other debts +€220,558
up €220,558 (+109.5%), from €201,454 to €422,012
- Profit (loss) carried forward -€34,566
down €34,566 (-12.3%), from €279,946 to €245,380
- Trade debts -€24,919
down €24,919 (-30.6%), from €81,394 to €56,475
- Tax, wage and social debts -€24,389
down €24,389 (-33.2%), from €73,419 to €49,030
of which Taxes: -€24,575
- Debts after one year -€16,052
down €16,052 (-41.7%), from €38,482 to €22,430
- Gross operating margin -€19,220
down €19,220 (-51.0%), from €37,668 to €18,448
- Taxes +€15,984
up €15,984, from -€15,496 to €488
- Financial income +€10,080
up €10,080 (+55.7%), from €18,094 to €28,174
of which Non-recurring financial income: +€7,000
- Depreciation +€7,078
up €7,078 (+27.6%), from €25,628 to €32,706
- Other operating charges -€3,568
down €3,568 (-45.1%), from €7,907 to €4,339
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 | €742,622 | €862,284 | +€119,662 | +16.1% |
| Fixed assets | 21/28 | €93,996 | €76,134 | -€17,862 | -19.0% |
| Tangible fixed assets | 22/27 | €93,406 | €75,544 | -€17,862 | -19.1% |
| Plant, machinery and equipment | 23 | €6,684 | €2,992 | -€3,692 | -55.2% |
| Furniture and vehicles | 24 | €72,488 | €59,355 | -€13,133 | -18.1% |
| Other tangible fixed assets | 26 | €14,234 | €13,197 | -€1,037 | -7.3% |
| Financial fixed assets | 28 | €590 | €590 | = | 0.0% |
| Current assets | 29/58 | €648,626 | €786,150 | +€137,524 | +21.2% |
| Stocks and contracts in progress | 3 | €311,294 | €309,260 | -€2,034 | -0.7% |
| Stocks | 30/36 | €311,294 | €309,260 | -€2,034 | -0.7% |
| Amounts receivable within one year | 40/41 | €152,391 | €327,797 | +€175,406 | +115.1% |
| Trade receivables | 40 | €131,478 | €327,797 | +€196,319 | +149.3% |
| Other amounts receivable | 41 | €20,913 | - | -€20,913 | |
| Cash at bank and in hand | 54/58 | €116,034 | €90,095 | -€25,939 | -22.4% |
| Deferred charges and accrued income | 490/1 | €68,907 | €58,998 | -€9,909 | -14.4% |
| Total equity and liabilities | 10/49 | €742,622 | €862,284 | +€119,662 | +16.1% |
| Equity | 10/15 | €330,851 | €296,285 | -€34,566 | -10.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Capital | 10 | €40,000 | €40,000 | = | 0.0% |
| Issued capital | 100 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €10,905 | €10,905 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Legal reserve | 130 | €4,000 | €4,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,905 | €6,905 | = | 0.0% |
| Profit (loss) carried forward | 14 | €279,946 | €245,380 | -€34,566 | -12.3% |
| Amounts payable | 17/49 | €411,771 | €565,999 | +€154,228 | +37.5% |
| Amounts payable after more than one year | 17 | €38,482 | €22,430 | -€16,052 | -41.7% |
| Financial debts | 170/4 | €38,482 | €22,430 | -€16,052 | -41.7% |
| Amounts payable within one year | 42/48 | €373,289 | €543,569 | +€170,280 | +45.6% |
| Current portion of amounts payable after more than one year | 42 | €17,022 | €16,052 | -€970 | -5.7% |
| Trade debts | 44 | €81,394 | €56,475 | -€24,919 | -30.6% |
| Suppliers | 440/4 | €81,394 | €56,475 | -€24,919 | -30.6% |
| Taxes, remuneration and social security | 45 | €73,419 | €49,030 | -€24,389 | -33.2% |
| Taxes | 450/3 | €67,954 | €43,379 | -€24,575 | -36.2% |
| Remuneration and social security | 454/9 | €5,465 | €5,651 | +€186 | +3.4% |
| Other amounts payable | 47/48 | €201,454 | €422,012 | +€220,558 | +109.5% |
| Remuneration, social security and pensions | 62 | €35,077 | €38,567 | +€3,490 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,628 | €32,706 | +€7,078 | +27.6% |
| Other operating charges | 640/8 | €7,907 | €4,339 | -€3,568 | -45.1% |
| Gross operating margin | 9900 | €37,668 | €18,448 | -€19,220 | -51.0% |
| Operating profit (loss) | 9901 | -€30,944 | -€57,164 | -€26,220 | -84.7% |
| Financial income | 75/76B | €18,094 | €28,174 | +€10,080 | +55.7% |
| Recurring financial income | 75 | €18,094 | €21,174 | +€3,080 | +17.0% |
| Non-recurring financial income | 76B | - | €7,000 | +€7,000 | |
| Financial charges | 65/66B | €4,267 | €5,088 | +€821 | +19.2% |
| Recurring financial charges | 65 | €4,267 | €3,221 | -€1,046 | -24.5% |
| Non-recurring financial charges | 66B | - | €1,867 | +€1,867 | |
| Profit (loss) for the period before taxes | 9903 | -€17,117 | -€34,078 | -€16,961 | -99.1% |
| Income taxes | 67/77 | -€15,496 | €488 | +€15,984 | |
| Profit (loss) for the period | 9904 | -€1,621 | -€34,566 | -€32,945 | -2032.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,621 | -€34,566 | -€32,945 | -2032.4% |
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 12 October 2026 via checked.be.