FALS: 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.
FALS
Largest movements
- Receivables within one year -€194,801
down €194,801 (-57.7%), from €337,812 to €143,011
of which Other amounts receivable: -€193,989
- Tangible fixed assets +€123,332
up €123,332 (+34.3%), from €359,350 to €482,682
of which Other tangible fixed assets: +€73,410
- Stocks and contracts -€32,445
down €32,445 (-43.7%), from €74,239 to €41,794
- Deferred charges and accrued income -€13,927
down €13,927 (-81.4%), from €17,101 to €3,174
- Cash +€8,287
up €8,287 (+71.0%), from €11,677 to €19,964
mainly Receivables within one year (+€194,801) and Other debts (+€192,400)
- Profit (loss) carried forward -€200,932
down €200,932 (-122.9%), from -€163,516 to -€364,449
- Other debts +€192,400
new in 2025: €192,400
- Debts after one year -€51,879
down €51,879 (-18.7%), from €277,164 to €225,285
- Trade debts -€45,778
down €45,778 (-12.5%), from €367,267 to €321,489
- Accrued charges and deferred income +€19,714
up €19,714 (+80.0%), from €24,630 to €44,344
- Gross operating margin +€145,384
up €145,384 (+74.3%), from €195,753 to €341,137
- Staff costs +€7,594
up €7,594 (+2.0%), from €382,588 to €390,181
- Financial charges -€3,494
down €3,494 (-16.0%), from €21,819 to €18,324
of which Financial charges: -€7,289
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 | €804,588 | €693,329 | -€111,259 | -13.8% |
| Fixed assets | 21/28 | €363,759 | €485,387 | +€121,628 | +33.4% |
| Intangible fixed assets | 21 | €3,672 | €1,968 | -€1,704 | -46.4% |
| Tangible fixed assets | 22/27 | €359,350 | €482,682 | +€123,332 | +34.3% |
| Plant, machinery and equipment | 23 | €64,353 | €93,423 | +€29,071 | +45.2% |
| Furniture and vehicles | 24 | €271,073 | €293,732 | +€22,659 | +8.4% |
| Leasing and similar rights | 25 | €7,277 | €5,469 | -€1,808 | -24.8% |
| Other tangible fixed assets | 26 | €16,648 | €90,058 | +€73,410 | +441.0% |
| Financial fixed assets | 28 | €737 | €737 | = | 0.0% |
| Current assets | 29/58 | €440,829 | €207,943 | -€232,887 | -52.8% |
| Stocks and contracts in progress | 3 | €74,239 | €41,794 | -€32,445 | -43.7% |
| Stocks | 30/36 | €74,239 | €41,794 | -€32,445 | -43.7% |
| Amounts receivable within one year | 40/41 | €337,812 | €143,011 | -€194,801 | -57.7% |
| Trade receivables | 40 | €55,932 | €55,121 | -€811 | -1.5% |
| Other amounts receivable | 41 | €281,879 | €87,890 | -€193,989 | -68.8% |
| Cash at bank and in hand | 54/58 | €11,677 | €19,964 | +€8,287 | +71.0% |
| Deferred charges and accrued income | 490/1 | €17,101 | €3,174 | -€13,927 | -81.4% |
| Total equity and liabilities | 10/49 | €804,588 | €693,329 | -€111,259 | -13.8% |
| Equity | 10/15 | €24,231 | -€185,570 | -€209,802 | |
| Contributions | 10/11 | €4,288 | €4,288 | = | 0.0% |
| Contributions outside capital | 11 | €4,288 | €4,288 | = | 0.0% |
| Share premium | 1100/10 | €4,288 | €4,288 | = | 0.0% |
| Reserves | 13 | €168,282 | €165,246 | -€3,035 | -1.8% |
| Non-distributable reserves | 130/1 | €1,683 | €1,683 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,683 | €1,683 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,879 | €18,843 | -€3,035 | -13.9% |
| Distributable reserves | 133 | €144,720 | €144,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€163,516 | -€364,449 | -€200,932 | -122.9% |
| Investment grants | 15 | €15,178 | €9,344 | -€5,834 | -38.4% |
| Amounts payable | 17/49 | €780,357 | €878,900 | +€98,543 | +12.6% |
| Amounts payable after more than one year | 17 | €277,164 | €225,285 | -€51,879 | -18.7% |
| Financial debts | 170/4 | €277,164 | €225,285 | -€51,879 | -18.7% |
| Amounts payable within one year | 42/48 | €478,563 | €609,271 | +€130,708 | +27.3% |
| Current portion of amounts payable after more than one year | 42 | €58,081 | €55,309 | -€2,773 | -4.8% |
| Financial debts | 43 | - | €1,234 | +€1,234 | |
| Credit institutions | 430/8 | - | €1,234 | +€1,234 | |
| Trade debts | 44 | €367,267 | €321,489 | -€45,778 | -12.5% |
| Suppliers | 440/4 | €367,267 | €321,489 | -€45,778 | -12.5% |
| Advances received on contracts in progress | 46 | - | €518 | +€518 | |
| Taxes, remuneration and social security | 45 | €53,215 | €38,321 | -€14,893 | -28.0% |
| Taxes | 450/3 | - | €2,418 | +€2,418 | |
| Remuneration and social security | 454/9 | €53,215 | €35,903 | -€17,312 | -32.5% |
| Other amounts payable | 47/48 | - | €192,400 | +€192,400 | |
| Accrued charges and deferred income | 492/3 | €24,630 | €44,344 | +€19,714 | +80.0% |
| Non-recurring operating income | 76A | €9,037 | - | -€9,037 | |
| Remuneration, social security and pensions | 62 | €382,588 | €390,181 | +€7,594 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,878 | €125,565 | +€687 | +0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €750 | +€750 | |
| Other operating charges | 640/8 | €16,435 | €14,953 | -€1,482 | -9.0% |
| Non-recurring operating charges | 66A | €44,627 | €1,050 | -€43,577 | -97.6% |
| Gross operating margin | 9900 | €195,753 | €341,137 | +€145,384 | +74.3% |
| Operating profit (loss) | 9901 | -€372,774 | -€191,364 | +€181,411 | +48.7% |
| Financial income | 75/76B | €4,410 | €5,836 | +€1,426 | +32.3% |
| Recurring financial income | 75 | €4,410 | €5,836 | +€1,426 | +32.3% |
| Financial charges | 65/66B | €21,819 | €18,324 | -€3,494 | -16.0% |
| Recurring financial charges | 65 | €21,819 | €14,530 | -€7,289 | -33.4% |
| Non-recurring financial charges | 66B | - | €3,794 | +€3,794 | |
| Profit (loss) for the period before taxes | 9903 | -€390,183 | -€203,852 | +€186,331 | +47.8% |
| Income taxes | 67/77 | €140 | €116 | -€24 | -17.4% |
| Profit (loss) for the period | 9904 | -€390,324 | -€203,968 | +€186,356 | +47.7% |
| Transfer from tax-exempt reserves | 789 | - | €3,035 | +€3,035 | |
| Profit (loss) for the period to be appropriated | 9905 | -€390,324 | -€200,932 | +€189,391 | +48.5% |
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.