FAMARO: 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.
FAMARO
Largest movements
- Receivables within one year +€56,061
up €56,061 (+28.2%), from €198,544 to €254,606
of which Other amounts receivable: +€63,489
- Cash +€24,614
up €24,614 (+23.0%), from €107,007 to €131,621
mainly Net result for the year (+€155,121) and Depreciation (+€23,096)
- Reserves +€155,121
up €155,121 (+18.6%), from €834,788 to €989,909
of which Distributable reserves: +€155,121
- Other debts -€52,100
down €52,100 (-37.6%), from €138,477 to €86,377
- Tax, wage and social debts -€19,924
down €19,924 (-59.5%), from €33,492 to €13,568
of which Remuneration and social security: -€19,581
- Gross operating margin -€208,581
down €208,581 (-52.3%), from €398,832 to €190,250
- Financial income +€63,421
up €63,421 (+5241.2%), from €1,210 to €64,631
- Staff costs -€51,185
down €51,185 (-69.3%), from €73,894 to €22,709
- Taxes -€44,571
down €44,571 (-48.5%), from €91,825 to €47,253
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 | €1,106,406 | €1,178,255 | +€71,849 | +6.5% |
| Fixed assets | 21/28 | €776,305 | €766,920 | -€9,384 | -1.2% |
| Tangible fixed assets | 22/27 | €106,305 | €96,920 | -€9,384 | -8.8% |
| Land and buildings | 22 | €100,733 | €79,732 | -€21,001 | -20.8% |
| Plant, machinery and equipment | 23 | €13 | €6,605 | +€6,592 | +50087.5% |
| Furniture and vehicles | 24 | €5,559 | €10,584 | +€5,025 | +90.4% |
| Financial fixed assets | 28 | €670,000 | €670,000 | = | 0.0% |
| Current assets | 29/58 | €330,101 | €411,335 | +€81,234 | +24.6% |
| Amounts receivable within one year | 40/41 | €198,544 | €254,606 | +€56,061 | +28.2% |
| Trade receivables | 40 | €42,747 | €35,319 | -€7,427 | -17.4% |
| Other amounts receivable | 41 | €155,798 | €219,287 | +€63,489 | +40.8% |
| Current investments | 50/53 | €22,000 | €22,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €107,007 | €131,621 | +€24,614 | +23.0% |
| Deferred charges and accrued income | 490/1 | €2,550 | €3,108 | +€559 | +21.9% |
| Total equity and liabilities | 10/49 | €1,106,406 | €1,178,255 | +€71,849 | +6.5% |
| Equity | 10/15 | €896,788 | €1,051,909 | +€155,121 | +17.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €834,788 | €989,909 | +€155,121 | +18.6% |
| Non-distributable reserves | 130/1 | €12,943 | €12,943 | = | 0.0% |
| Legal reserve | 130 | €12,943 | €12,943 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,147 | €32,147 | = | 0.0% |
| Distributable reserves | 133 | €789,698 | €944,819 | +€155,121 | +19.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €209,618 | €126,347 | -€83,272 | -39.7% |
| Amounts payable after more than one year | 17 | €7,569 | €0 | -€7,569 | -100.0% |
| Financial debts | 170/4 | €7,569 | €0 | -€7,569 | -100.0% |
| Amounts payable within one year | 42/48 | €202,050 | €117,748 | -€84,302 | -41.7% |
| Current portion of amounts payable after more than one year | 42 | €18,123 | €7,569 | -€10,555 | -58.2% |
| Financial debts | 43 | €10,305 | €10,234 | -€70 | -0.7% |
| Credit institutions | 430/8 | €10,305 | €10,234 | -€70 | -0.7% |
| Trade debts | 44 | €1,653 | €0 | -€1,653 | -100.0% |
| Suppliers | 440/4 | €1,653 | €0 | -€1,653 | -100.0% |
| Taxes, remuneration and social security | 45 | €33,492 | €13,568 | -€19,924 | -59.5% |
| Taxes | 450/3 | €13,911 | €13,568 | -€343 | -2.5% |
| Remuneration and social security | 454/9 | €19,581 | €0 | -€19,581 | -100.0% |
| Other amounts payable | 47/48 | €138,477 | €86,377 | -€52,100 | -37.6% |
| Accrued charges and deferred income | 492/3 | €0 | €8,598 | +€8,598 | |
| Remuneration, social security and pensions | 62 | €73,894 | €22,709 | -€51,185 | -69.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,400 | €23,096 | +€696 | +3.1% |
| Other operating charges | 640/8 | €3,964 | €4,717 | +€754 | +19.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €398,832 | €190,250 | -€208,581 | -52.3% |
| Operating profit (loss) | 9901 | €298,573 | €139,728 | -€158,845 | -53.2% |
| Financial income | 75/76B | €1,210 | €64,631 | +€63,421 | +5241.2% |
| Recurring financial income | 75 | €1,210 | €64,631 | +€63,421 | +5241.2% |
| Financial charges | 65/66B | €2,864 | €1,984 | -€880 | -30.7% |
| Recurring financial charges | 65 | €2,864 | €1,984 | -€880 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | €296,919 | €202,375 | -€94,544 | -31.8% |
| Income taxes | 67/77 | €91,825 | €47,253 | -€44,571 | -48.5% |
| Profit (loss) for the period | 9904 | €205,094 | €155,121 | -€49,973 | -24.4% |
| Transfer from tax-exempt reserves | 789 | €181,201 | €0 | -€181,201 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €386,295 | €155,121 | -€231,173 | -59.8% |
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 10 October 2026 via checked.be.