FAL-OR: 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.
FAL-OR
Largest movements
- Cash -€20,278
down €20,278 (-49.6%), from €40,898 to €20,620
mainly Debts after one year (-€123,119) and Smaller working-capital items (-€141)
- Debts after one year -€123,119
down €123,119 (-22.0%), from €560,800 to €437,681
- Reserves +€73,995
up €73,995 (+32.1%), from €230,768 to €304,762
- Current portion of long-term debt +€23,424
up €23,424 (+18.1%), from €129,674 to €153,098
- Financial income -€9,929
down €9,929 (-11.3%), from €88,175 to €78,246
- Financial charges -€3,179
down €3,179 (-14.3%), from €22,165 to €18,986
- Gross operating margin -€2,530
down €2,530 (-13.4%), from €18,930 to €16,399
- Other operating charges +€612
up €612 (+129%), from €474 to €1,086
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 | €976,003 | €951,645 | -€24,357 | -2.5% |
| Fixed assets | 21/28 | €900,124 | €900,124 | = | 0.0% |
| Financial fixed assets | 28 | €900,124 | €900,124 | = | 0.0% |
| Current assets | 29/58 | €75,879 | €51,521 | -€24,357 | -32.1% |
| Amounts receivable within one year | 40/41 | €34,981 | €30,902 | -€4,079 | -11.7% |
| Trade receivables | 40 | €3,150 | €3,150 | = | 0.0% |
| Other amounts receivable | 41 | €31,831 | €27,752 | -€4,079 | -12.8% |
| Cash at bank and in hand | 54/58 | €40,898 | €20,620 | -€20,278 | -49.6% |
| Total equity and liabilities | 10/49 | €976,003 | €951,645 | -€24,357 | -2.5% |
| Equity | 10/15 | €249,368 | €323,362 | +€73,995 | +29.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €230,768 | €304,762 | +€73,995 | +32.1% |
| Distributable reserves | 133 | €230,768 | €304,762 | +€73,995 | +32.1% |
| Amounts payable | 17/49 | €726,635 | €628,283 | -€98,352 | -13.5% |
| Amounts payable after more than one year | 17 | €560,800 | €437,681 | -€123,119 | -22.0% |
| Financial debts | 170/4 | €560,800 | €437,681 | -€123,119 | -22.0% |
| Amounts payable within one year | 42/48 | €165,835 | €190,602 | +€24,767 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €129,674 | €153,098 | +€23,424 | +18.1% |
| Trade debts | 44 | €915 | €856 | -€60 | -6.5% |
| Suppliers | 440/4 | €915 | €856 | -€60 | -6.5% |
| Taxes, remuneration and social security | 45 | €5,290 | €5,209 | -€81 | -1.5% |
| Taxes | 450/3 | €3,604 | €3,506 | -€98 | -2.7% |
| Remuneration and social security | 454/9 | €1,686 | €1,703 | +€17 | +1.0% |
| Other amounts payable | 47/48 | €29,955 | €31,439 | +€1,485 | +5.0% |
| Other operating charges | 640/8 | €474 | €1,086 | +€612 | +129% |
| Gross operating margin | 9900 | €18,930 | €16,399 | -€2,530 | -13.4% |
| Operating profit (loss) | 9901 | €18,456 | €15,314 | -€3,142 | -17.0% |
| Financial income | 75/76B | €88,175 | €78,246 | -€9,929 | -11.3% |
| Recurring financial income | 75 | €88,175 | €78,246 | -€9,929 | -11.3% |
| Financial charges | 65/66B | €22,165 | €18,986 | -€3,179 | -14.3% |
| Recurring financial charges | 65 | €22,165 | €18,986 | -€3,179 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €84,466 | €74,574 | -€9,892 | -11.7% |
| Income taxes | 67/77 | €669 | €579 | -€90 | -13.4% |
| Profit (loss) for the period | 9904 | €83,796 | €73,995 | -€9,802 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €83,796 | €73,995 | -€9,802 | -11.7% |
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 1 November 2026 via checked.be.