Falter: 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.
Falter
Largest movements
- Cash -€39,614
down €39,614 (-38.7%), from €102,426 to €62,812
mainly Trade debts (-€95,928) and Investment in fixed assets (net) (-€24,389)
- Stocks and contracts -€29,054
down €29,054 (-8.2%), from €356,346 to €327,291
- Tangible fixed assets -€10,412
down €10,412 (-2.4%), from €433,031 to €422,619
of which Land and buildings: -€32,536
- Trade debts -€95,928
down €95,928 (-33.4%), from €287,524 to €191,596
- Reserves +€28,000
up €28,000 (+14.7%), from €190,380 to €218,380
- Debts after one year -€19,310
down €19,310 (-5.0%), from €382,603 to €363,293
of which Advances received on contracts in progress: -€12,645
- Financial income +€11,051
up €11,051 (+51,859%), from €21 to €11,072
- Gross operating margin +€4,224
up €4,224 (+4.5%), from €94,274 to €98,498
- Depreciation +€2,994
up €2,994 (+8.2%), from €36,539 to €39,533
- Financial charges +€1,797
up €1,797 (+13.1%), from €13,731 to €15,527
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 | €938,096 | €860,565 | -€77,531 | -8.3% |
| Fixed assets | 21/28 | €437,763 | €422,619 | -€15,144 | -3.5% |
| Tangible fixed assets | 22/27 | €433,031 | €422,619 | -€10,412 | -2.4% |
| Land and buildings | 22 | €421,065 | €388,529 | -€32,536 | -7.7% |
| Plant, machinery and equipment | 23 | €2,667 | €15,032 | +€12,365 | +464% |
| Furniture and vehicles | 24 | €9,300 | €19,059 | +€9,759 | +105% |
| Financial fixed assets | 28 | €4,732 | - | -€4,732 | |
| Current assets | 29/58 | €500,333 | €437,946 | -€62,387 | -12.5% |
| Stocks and contracts in progress | 3 | €356,346 | €327,291 | -€29,054 | -8.2% |
| Stocks | 30/36 | €356,346 | €327,291 | -€29,054 | -8.2% |
| Amounts receivable within one year | 40/41 | €41,561 | €47,843 | +€6,282 | +15.1% |
| Trade receivables | 40 | €8,983 | €16,427 | +€7,444 | +82.9% |
| Other amounts receivable | 41 | €32,579 | €31,416 | -€1,162 | -3.6% |
| Cash at bank and in hand | 54/58 | €102,426 | €62,812 | -€39,614 | -38.7% |
| Total equity and liabilities | 10/49 | €938,096 | €860,565 | -€77,531 | -8.3% |
| Equity | 10/15 | €209,202 | €237,233 | +€28,031 | +13.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €190,380 | €218,380 | +€28,000 | +14.7% |
| Distributable reserves | 133 | €190,380 | €218,380 | +€28,000 | +14.7% |
| Profit (loss) carried forward | 14 | €230 | €261 | +€31 | +13.3% |
| Amounts payable | 17/49 | €728,894 | €623,333 | -€105,562 | -14.5% |
| Amounts payable after more than one year | 17 | €382,603 | €363,293 | -€19,310 | -5.0% |
| Financial debts | 170/4 | €369,958 | €363,293 | -€6,665 | -1.8% |
| Advances received on contracts in progress | 176 | €12,645 | - | -€12,645 | |
| Amounts payable within one year | 42/48 | €346,291 | €255,411 | -€90,880 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €38,248 | €46,319 | +€8,071 | +21.1% |
| Trade debts | 44 | €287,524 | €191,596 | -€95,928 | -33.4% |
| Suppliers | 440/4 | €287,524 | €191,596 | -€95,928 | -33.4% |
| Taxes, remuneration and social security | 45 | €20,519 | €17,497 | -€3,022 | -14.7% |
| Taxes | 450/3 | €20,519 | €17,497 | -€3,022 | -14.7% |
| Accrued charges and deferred income | 492/3 | - | €4,628 | +€4,628 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,539 | €39,533 | +€2,994 | +8.2% |
| Other operating charges | 640/8 | €12,031 | €12,591 | +€561 | +4.7% |
| Non-recurring operating charges | 66A | - | €4,134 | +€4,134 | |
| Gross operating margin | 9900 | €94,274 | €98,498 | +€4,224 | +4.5% |
| Operating profit (loss) | 9901 | €45,705 | €42,239 | -€3,465 | -7.6% |
| Financial income | 75/76B | €21 | €11,072 | +€11,051 | +51,859% |
| Recurring financial income | 75 | €21 | €11,072 | +€11,051 | +51,859% |
| Financial charges | 65/66B | €13,731 | €15,527 | +€1,797 | +13.1% |
| Recurring financial charges | 65 | €13,731 | €15,527 | +€1,797 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €31,995 | €37,784 | +€5,789 | +18.1% |
| Income taxes | 67/77 | €8,917 | €9,754 | +€836 | +9.4% |
| Profit (loss) for the period | 9904 | €23,078 | €28,031 | +€4,953 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,078 | €28,031 | +€4,953 | +21.5% |
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 16 October 2026 via checked.be.