FAN: what changed
Two fiscal 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
- Cash -€14,984
down €14,984 (-82.9%), from €18,079 to €3,095
mainly Debts after one year (-€17,815) and Receivables within one year (-€14,420)
- Receivables within one year +€14,420
up €14,420 (+25.7%), from €56,205 to €70,624
of which Trade receivables: +€10,821
- Tangible fixed assets -€10,354
down €10,354 (-34.1%), from €30,374 to €20,020
of which Furniture and vehicles: -€6,515
- Stocks and contracts -€3,648
down €3,648 (-12.5%), from €29,086 to €25,438
of which Stocks: -€2,648
- Deferred charges and accrued income +€2,715
up €2,715 (+209.5%), from €1,296 to €4,011
- Debts after one year -€17,815
down €17,815 (-85.8%), from €20,769 to €2,954
- Reserves +€11,650
up €11,650 (+20.1%), from €57,824 to €69,474
- Tax, wage and social debts -€11,429
down €11,429 (-72.6%), from €15,750 to €4,321
of which Taxes: -€9,129
- Current portion of long-term debt +€3,343
up €3,343 (+46.8%), from €7,139 to €10,482
- Short-term financial debts +€3,163
new in 2025: €3,163
- Gross operating margin -€6,133
down €6,133 (-15.0%), from €40,768 to €34,634
- Taxes -€975
down €975 (-13.8%), from €7,091 to €6,116
- Depreciation +€674
up €674 (+5.6%), from €12,000 to €12,674
- Financial charges +€527
up €527 (+36.8%), from €1,432 to €1,959
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 | €135,291 | €123,502 | -€11,788 | -8.7% |
| Fixed assets | 21/28 | €30,625 | €20,335 | -€10,291 | -33.6% |
| Tangible fixed assets | 22/27 | €30,374 | €20,020 | -€10,354 | -34.1% |
| Plant, machinery and equipment | 23 | €14,556 | €10,717 | -€3,839 | -26.4% |
| Furniture and vehicles | 24 | €15,818 | €9,303 | -€6,515 | -41.2% |
| Financial fixed assets | 28 | €252 | €315 | +€63 | +24.9% |
| Current assets | 29/58 | €104,665 | €103,168 | -€1,497 | -1.4% |
| Stocks and contracts in progress | 3 | €29,086 | €25,438 | -€3,648 | -12.5% |
| Stocks | 30/36 | €7,086 | €4,438 | -€2,648 | -37.4% |
| Contracts in progress | 37 | €22,000 | €21,000 | -€1,000 | -4.5% |
| Amounts receivable within one year | 40/41 | €56,205 | €70,624 | +€14,420 | +25.7% |
| Trade receivables | 40 | €49,776 | €60,597 | +€10,821 | +21.7% |
| Other amounts receivable | 41 | €6,428 | €10,027 | +€3,599 | +56.0% |
| Cash at bank and in hand | 54/58 | €18,079 | €3,095 | -€14,984 | -82.9% |
| Deferred charges and accrued income | 490/1 | €1,296 | €4,011 | +€2,715 | +209.5% |
| Total equity and liabilities | 10/49 | €135,291 | €123,502 | -€11,788 | -8.7% |
| Equity | 10/15 | €64,124 | €75,774 | +€11,650 | +18.2% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €57,824 | €69,474 | +€11,650 | +20.1% |
| Distributable reserves | 133 | €57,824 | €69,474 | +€11,650 | +20.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €71,167 | €47,728 | -€23,438 | -32.9% |
| Amounts payable after more than one year | 17 | €20,769 | €2,954 | -€17,815 | -85.8% |
| Financial debts | 170/4 | €20,769 | €2,954 | -€17,815 | -85.8% |
| Amounts payable within one year | 42/48 | €50,398 | €43,682 | -€6,715 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €7,139 | €10,482 | +€3,343 | +46.8% |
| Financial debts | 43 | - | €3,163 | +€3,163 | |
| Credit institutions | 430/8 | - | €3,163 | +€3,163 | |
| Trade debts | 44 | €17,632 | €18,338 | +€706 | +4.0% |
| Suppliers | 440/4 | €17,632 | €18,338 | +€706 | +4.0% |
| Taxes, remuneration and social security | 45 | €15,750 | €4,321 | -€11,429 | -72.6% |
| Taxes | 450/3 | €13,450 | €4,321 | -€9,129 | -67.9% |
| Remuneration and social security | 454/9 | €2,300 | €0 | -€2,300 | -100.0% |
| Other amounts payable | 47/48 | €9,876 | €7,378 | -€2,498 | -25.3% |
| Accrued charges and deferred income | 492/3 | - | €1,093 | +€1,093 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,000 | €12,674 | +€674 | +5.6% |
| Other operating charges | 640/8 | €1,976 | €2,240 | +€265 | +13.4% |
| Non-recurring operating charges | 66A | €1,311 | €0 | -€1,311 | -100.0% |
| Gross operating margin | 9900 | €40,768 | €34,634 | -€6,133 | -15.0% |
| Operating profit (loss) | 9901 | €25,481 | €19,720 | -€5,761 | -22.6% |
| Financial income | 75/76B | €0 | €4 | +€3 | +1456.5% |
| Recurring financial income | 75 | €0 | €4 | +€3 | +1456.5% |
| Financial charges | 65/66B | €1,432 | €1,959 | +€527 | +36.8% |
| Recurring financial charges | 65 | €1,432 | €1,959 | +€527 | +36.8% |
| Profit (loss) for the period before taxes | 9903 | €24,050 | €17,765 | -€6,284 | -26.1% |
| Income taxes | 67/77 | €7,091 | €6,116 | -€975 | -13.8% |
| Profit (loss) for the period | 9904 | €16,959 | €11,650 | -€5,309 | -31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,959 | €11,650 | -€5,309 | -31.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.