FANCY PANTS: 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.
FANCY PANTS
Largest movements
- Tangible fixed assets +€133,814
up €133,814 (+485%), from €27,576 to €161,390
of which Land and buildings: +€148,185
- Cash -€94,110
down €94,110 (-96.4%), from €97,643 to €3,532
mainly Investment in fixed assets (net) (-€162,706) and Receivables within one year (-€17,320)
- Receivables within one year +€17,320
up €17,320 (+71.1%), from €24,363 to €41,682
of which Trade receivables: +€27,465
- Other debts +€65,643
up €65,643 (+462%), from €14,213 to €79,855
- Profit (loss) carried forward -€12,950
down €12,950 (-110%), from -€11,758 to -€24,708
- Debts after one year -€8,279
down €8,279 (-62.3%), from €13,292 to €5,013
- Trade debts +€8,090
up €8,090 (+152%), from €5,338 to €13,428
- Depreciation +€12,302
up €12,302 (+74.1%), from €16,591 to €28,892
- Gross operating margin +€10,746
up €10,746 (+127%), from €8,448 to €19,193
- Financial charges -€307
down €307 (-14.1%), from €2,171 to €1,864
- Financial income +€229
up €229 (+69.6%), from €330 to €559
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 | €200,910 | €255,630 | +€54,720 | +27.2% |
| Fixed assets | 21/28 | €27,576 | €161,390 | +€133,814 | +485% |
| Tangible fixed assets | 22/27 | €27,576 | €161,390 | +€133,814 | +485% |
| Land and buildings | 22 | €4,784 | €152,969 | +€148,185 | +3,098% |
| Furniture and vehicles | 24 | €20,122 | €6,649 | -€13,473 | -67.0% |
| Other tangible fixed assets | 26 | €2,670 | €1,771 | -€898 | -33.6% |
| Current assets | 29/58 | €173,335 | €94,240 | -€79,094 | -45.6% |
| Stocks and contracts in progress | 3 | €48,970 | €47,130 | -€1,840 | -3.8% |
| Stocks | 30/36 | €48,970 | €47,130 | -€1,840 | -3.8% |
| Amounts receivable within one year | 40/41 | €24,363 | €41,682 | +€17,320 | +71.1% |
| Trade receivables | 40 | €14,218 | €41,682 | +€27,465 | +193% |
| Other amounts receivable | 41 | €10,145 | - | -€10,145 | |
| Cash at bank and in hand | 54/58 | €97,643 | €3,532 | -€94,110 | -96.4% |
| Deferred charges and accrued income | 490/1 | €2,359 | €1,896 | -€463 | -19.6% |
| Total equity and liabilities | 10/49 | €200,910 | €255,630 | +€54,720 | +27.2% |
| Equity | 10/15 | €151,466 | €138,516 | -€12,950 | -8.5% |
| Reserves | 13 | €163,224 | €163,224 | = | 0.0% |
| Distributable reserves | 133 | €163,224 | €163,224 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,758 | -€24,708 | -€12,950 | -110% |
| Amounts payable | 17/49 | €49,444 | €117,114 | +€67,670 | +137% |
| Amounts payable after more than one year | 17 | €13,292 | €5,013 | -€8,279 | -62.3% |
| Financial debts | 170/4 | €13,292 | €5,013 | -€8,279 | -62.3% |
| Amounts payable within one year | 42/48 | €35,824 | €111,768 | +€75,944 | +212% |
| Current portion of amounts payable after more than one year | 42 | €7,897 | €8,279 | +€382 | +4.8% |
| Trade debts | 44 | €5,338 | €13,428 | +€8,090 | +152% |
| Suppliers | 440/4 | €5,338 | €13,428 | +€8,090 | +152% |
| Taxes, remuneration and social security | 45 | €8,377 | €10,205 | +€1,829 | +21.8% |
| Taxes | 450/3 | €8,377 | €10,205 | +€1,829 | +21.8% |
| Other amounts payable | 47/48 | €14,213 | €79,855 | +€65,643 | +462% |
| Accrued charges and deferred income | 492/3 | €328 | €333 | +€5 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,591 | €28,892 | +€12,302 | +74.1% |
| Other operating charges | 640/8 | €1,240 | €1,215 | -€25 | -2.0% |
| Non-recurring operating charges | 66A | €323 | €539 | +€216 | +66.9% |
| Gross operating margin | 9900 | €8,448 | €19,193 | +€10,746 | +127% |
| Operating profit (loss) | 9901 | -€9,706 | -€11,453 | -€1,747 | -18.0% |
| Financial income | 75/76B | €330 | €559 | +€229 | +69.6% |
| Recurring financial income | 75 | €330 | €559 | +€229 | +69.6% |
| Financial charges | 65/66B | €2,171 | €1,864 | -€307 | -14.1% |
| Recurring financial charges | 65 | €2,171 | €1,864 | -€307 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | -€11,548 | -€12,758 | -€1,210 | -10.5% |
| Income taxes | 67/77 | €210 | €192 | -€18 | -8.7% |
| Profit (loss) for the period | 9904 | -€11,758 | -€12,950 | -€1,192 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,758 | -€12,950 | -€1,192 | -10.1% |
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 15 October 2026 via checked.be.