FAKO: 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.
FAKO
Largest movements
- Tangible fixed assets +€228,533
up €228,533 (+18.1%), from €1.3m to €1.5m
of which Land and buildings: +€231,258
- Receivables within one year +€150,242
up €150,242 (+78.0%), from €192,547 to €342,789
of which Trade receivables: +€150,993
- Cash +€76,607
up €76,607 (+64.5%), from €118,804 to €195,411
mainly Net result for the year (+€161,785) and Trade debts (+€150,835)
- Stocks and contracts -€59,426
down €59,426 (-11.6%), from €512,462 to €453,036
- Profit (loss) carried forward +€161,785
up €161,785 (+58.5%), from -€276,512 to -€114,727
- Trade debts +€150,835
up €150,835 (+184%), from €82,123 to €232,958
- Debts after one year +€71,511
up €71,511 (+7.8%), from €913,997 to €985,508
- Gross operating margin +€72,483
up €72,483 (+23.6%), from €306,687 to €379,170
- Other operating charges +€26,667
up €26,667 (+146%), from €18,295 to €44,962
- Depreciation +€21,275
up €21,275 (+20.2%), from €105,365 to €126,640
- Financial charges -€9,210
down €9,210 (-16.3%), from €56,557 to €47,347
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 | €2,093,452 | €2,489,652 | +€396,200 | +18.9% |
| Fixed assets | 21/28 | €1,265,726 | €1,494,259 | +€228,533 | +18.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,265,091 | €1,493,624 | +€228,533 | +18.1% |
| Land and buildings | 22 | €1,048,193 | €1,279,451 | +€231,258 | +22.1% |
| Plant, machinery and equipment | 23 | €93,132 | €83,680 | -€9,452 | -10.1% |
| Furniture and vehicles | 24 | €123,766 | €130,493 | +€6,727 | +5.4% |
| Financial fixed assets | 28 | €635 | €635 | = | 0.0% |
| Current assets | 29/58 | €827,726 | €995,393 | +€167,667 | +20.3% |
| Stocks and contracts in progress | 3 | €512,462 | €453,036 | -€59,426 | -11.6% |
| Stocks | 30/36 | €512,462 | €453,036 | -€59,426 | -11.6% |
| Amounts receivable within one year | 40/41 | €192,547 | €342,789 | +€150,242 | +78.0% |
| Trade receivables | 40 | €191,493 | €342,486 | +€150,993 | +78.9% |
| Other amounts receivable | 41 | €1,054 | €303 | -€751 | -71.3% |
| Cash at bank and in hand | 54/58 | €118,804 | €195,411 | +€76,607 | +64.5% |
| Deferred charges and accrued income | 490/1 | €3,913 | €4,157 | +€244 | +6.2% |
| Total equity and liabilities | 10/49 | €2,093,452 | €2,489,652 | +€396,200 | +18.9% |
| Equity | 10/15 | €50,529 | €212,314 | +€161,785 | +320% |
| Contributions | 10/11 | €213,750 | €213,750 | = | 0.0% |
| Capital | 10 | €213,750 | €213,750 | = | 0.0% |
| Issued capital | 100 | €213,750 | €213,750 | = | 0.0% |
| Reserves | 13 | €113,291 | €113,291 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €111,432 | €111,432 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€276,512 | -€114,727 | +€161,785 | +58.5% |
| Amounts payable | 17/49 | €2,042,923 | €2,277,338 | +€234,415 | +11.5% |
| Amounts payable after more than one year | 17 | €913,997 | €985,508 | +€71,511 | +7.8% |
| Financial debts | 170/4 | €913,997 | €985,508 | +€71,511 | +7.8% |
| Amounts payable within one year | 42/48 | €1,117,921 | €1,276,901 | +€158,980 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €144,349 | €161,411 | +€17,062 | +11.8% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €82,123 | €232,958 | +€150,835 | +184% |
| Suppliers | 440/4 | €82,123 | €232,958 | +€150,835 | +184% |
| Taxes, remuneration and social security | 45 | €127 | €3,297 | +€3,170 | +2,496% |
| Taxes | 450/3 | €127 | €247 | +€120 | +94.5% |
| Remuneration and social security | 454/9 | - | €3,050 | +€3,050 | |
| Other amounts payable | 47/48 | €766,322 | €754,235 | -€12,087 | -1.6% |
| Accrued charges and deferred income | 492/3 | €11,005 | €14,929 | +€3,924 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,365 | €126,640 | +€21,275 | +20.2% |
| Other operating charges | 640/8 | €18,295 | €44,962 | +€26,667 | +146% |
| Gross operating margin | 9900 | €306,687 | €379,170 | +€72,483 | +23.6% |
| Operating profit (loss) | 9901 | €183,027 | €207,568 | +€24,541 | +13.4% |
| Financial income | 75/76B | €1,878 | €1,302 | -€576 | -30.7% |
| Recurring financial income | 75 | €1,878 | €1,302 | -€576 | -30.7% |
| Financial charges | 65/66B | €56,557 | €47,347 | -€9,210 | -16.3% |
| Recurring financial charges | 65 | €56,557 | €47,347 | -€9,210 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €128,348 | €161,523 | +€33,175 | +25.8% |
| Income taxes | 67/77 | €385 | -€262 | -€647 | |
| Profit (loss) for the period | 9904 | €127,963 | €161,785 | +€33,822 | +26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €127,963 | €161,785 | +€33,822 | +26.4% |
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 13 October 2026 via checked.be.