FAN: 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.
FAN
Largest movements
- Tangible fixed assets -€27,042
down €27,042 (-5.7%), from €478,010 to €450,968
of which Furniture and vehicles: -€17,931
- Cash +€19,792
up €19,792 (+29.5%), from €67,022 to €86,814
mainly Depreciation (+€34,253) and Net result for the year (+€31,808)
- Profit (loss) carried forward +€31,808
up €31,808 (+27.4%), from €115,964 to €147,771
- Debts after one year -€22,950
down €22,950 (-25.5%), from €89,888 to €66,938
- Other debts -€12,580
down €12,580 (-4.5%), from €279,987 to €267,407
- Other operating charges -€6,237
down €6,237 (-63.0%), from €9,903 to €3,666
- Taxes +€4,041
up €4,041 (+49.0%), from €8,241 to €12,281
- Gross operating margin +€2,371
up €2,371 (+2.1%), from €114,301 to €116,672
- Depreciation +€1,240
up €1,240 (+3.8%), from €33,013 to €34,253
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 | €562,592 | €549,227 | -€13,365 | -2.4% |
| Fixed assets | 21/28 | €478,279 | €451,237 | -€27,042 | -5.7% |
| Tangible fixed assets | 22/27 | €478,010 | €450,968 | -€27,042 | -5.7% |
| Land and buildings | 22 | €370,621 | €361,165 | -€9,456 | -2.6% |
| Plant, machinery and equipment | 23 | €48,226 | €48,571 | +€345 | +0.7% |
| Furniture and vehicles | 24 | €59,163 | €41,232 | -€17,931 | -30.3% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €84,312 | €97,990 | +€13,677 | +16.2% |
| Stocks and contracts in progress | 3 | €9,536 | €8,148 | -€1,388 | -14.6% |
| Stocks | 30/36 | €9,536 | €8,148 | -€1,388 | -14.6% |
| Amounts receivable within one year | 40/41 | €6,265 | €1,838 | -€4,426 | -70.7% |
| Trade receivables | 40 | €3,523 | €10 | -€3,513 | -99.7% |
| Other amounts receivable | 41 | €2,742 | €1,828 | -€914 | -33.3% |
| Cash at bank and in hand | 54/58 | €67,022 | €86,814 | +€19,792 | +29.5% |
| Deferred charges and accrued income | 490/1 | €1,490 | €1,190 | -€300 | -20.1% |
| Total equity and liabilities | 10/49 | €562,592 | €549,227 | -€13,365 | -2.4% |
| Equity | 10/15 | €134,556 | €166,363 | +€31,808 | +23.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,964 | €147,771 | +€31,808 | +27.4% |
| Amounts payable | 17/49 | €428,036 | €382,864 | -€45,172 | -10.6% |
| Amounts payable after more than one year | 17 | €89,888 | €66,938 | -€22,950 | -25.5% |
| Financial debts | 170/4 | €89,888 | €66,938 | -€22,950 | -25.5% |
| Amounts payable within one year | 42/48 | €338,149 | €315,926 | -€22,222 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €28,292 | €23,110 | -€5,182 | -18.3% |
| Trade debts | 44 | €17,536 | €15,968 | -€1,568 | -8.9% |
| Suppliers | 440/4 | €17,536 | €15,968 | -€1,568 | -8.9% |
| Taxes, remuneration and social security | 45 | €12,334 | €9,442 | -€2,892 | -23.4% |
| Taxes | 450/3 | €10,112 | €7,142 | -€2,971 | -29.4% |
| Remuneration and social security | 454/9 | €2,221 | €2,300 | +€78 | +3.5% |
| Other amounts payable | 47/48 | €279,987 | €267,407 | -€12,580 | -4.5% |
| Remuneration, social security and pensions | 62 | €28,256 | €28,612 | +€356 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,013 | €34,253 | +€1,240 | +3.8% |
| Other operating charges | 640/8 | €9,903 | €3,666 | -€6,237 | -63.0% |
| Gross operating margin | 9900 | €114,301 | €116,672 | +€2,371 | +2.1% |
| Operating profit (loss) | 9901 | €43,129 | €50,141 | +€7,012 | +16.3% |
| Financial income | 75/76B | €34 | €172 | +€139 | +413.6% |
| Recurring financial income | 75 | €34 | €172 | +€139 | +413.6% |
| Financial charges | 65/66B | €5,774 | €6,225 | +€450 | +7.8% |
| Recurring financial charges | 65 | €5,774 | €6,225 | +€450 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €37,389 | €44,089 | +€6,700 | +17.9% |
| Income taxes | 67/77 | €8,241 | €12,281 | +€4,041 | +49.0% |
| Profit (loss) for the period | 9904 | €29,148 | €31,808 | +€2,660 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,148 | €31,808 | +€2,660 | +9.1% |
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 11 October 2026 via checked.be.