FANK: 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.
FANK
Largest movements
- Tangible fixed assets +€141,971
up €141,971 (+184.7%), from €76,858 to €218,830
of which Plant, machinery and equipment: +€117,277
- Cash +€9,195
up €9,195 (+6604.5%), from €139 to €9,335
mainly Debts after one year (+€138,034) and Depreciation (+€23,654)
- Stocks and contracts -€6,872
down €6,872 (-15.0%), from €45,702 to €38,830
- Receivables within one year -€4,624
down €4,624 (-42.0%), from €11,021 to €6,397
of which Trade receivables: -€4,711
- Debts after one year +€138,034
up €138,034 (+63.4%), from €217,689 to €355,723
of which Financial debts: +€102,472
- Current portion of long-term debt +€16,036
new in 2025: €16,036
- Trade debts -€14,127
down €14,127 (-89.6%), from €15,775 to €1,648
- Depreciation +€7,793
up €7,793 (+49.1%), from €15,861 to €23,654
- Financial charges +€2,630
up €2,630 (+1103.9%), from €238 to €2,869
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 | €134,078 | €273,872 | +€139,794 | +104.3% |
| Fixed assets | 21/28 | €76,858 | €218,830 | +€141,971 | +184.7% |
| Tangible fixed assets | 22/27 | €76,858 | €218,830 | +€141,971 | +184.7% |
| Land and buildings | 22 | - | €6,668 | +€6,668 | |
| Plant, machinery and equipment | 23 | €76,858 | €194,135 | +€117,277 | +152.6% |
| Furniture and vehicles | 24 | - | €18,026 | +€18,026 | |
| Current assets | 29/58 | €57,220 | €55,042 | -€2,178 | -3.8% |
| Stocks and contracts in progress | 3 | €45,702 | €38,830 | -€6,872 | -15.0% |
| Stocks | 30/36 | €45,702 | €38,830 | -€6,872 | -15.0% |
| Amounts receivable within one year | 40/41 | €11,021 | €6,397 | -€4,624 | -42.0% |
| Trade receivables | 40 | €11,021 | €6,310 | -€4,711 | -42.7% |
| Other amounts receivable | 41 | - | €87 | +€87 | |
| Cash at bank and in hand | 54/58 | €139 | €9,335 | +€9,195 | +6604.5% |
| Deferred charges and accrued income | 490/1 | €358 | €480 | +€122 | +34.2% |
| Total equity and liabilities | 10/49 | €134,078 | €273,872 | +€139,794 | +104.3% |
| Equity | 10/15 | -€105,605 | -€105,590 | +€15 | 0.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€124,197 | -€124,182 | +€15 | 0.0% |
| Amounts payable | 17/49 | €239,683 | €379,462 | +€139,779 | +58.3% |
| Amounts payable after more than one year | 17 | €217,689 | €355,723 | +€138,034 | +63.4% |
| Financial debts | 170/4 | - | €102,472 | +€102,472 | |
| Other amounts payable | 178/9 | €217,689 | €253,251 | +€35,562 | +16.3% |
| Amounts payable within one year | 42/48 | €21,995 | €23,740 | +€1,745 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | - | €16,036 | +€16,036 | |
| Trade debts | 44 | €15,775 | €1,648 | -€14,127 | -89.6% |
| Suppliers | 440/4 | €15,775 | €1,648 | -€14,127 | -89.6% |
| Taxes, remuneration and social security | 45 | €6,219 | €6,056 | -€163 | -2.6% |
| Taxes | 450/3 | €6,219 | €6,056 | -€163 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,861 | €23,654 | +€7,793 | +49.1% |
| Other operating charges | 640/8 | €264 | €358 | +€94 | +35.6% |
| Gross operating margin | 9900 | €26,717 | €26,895 | +€178 | +0.7% |
| Operating profit (loss) | 9901 | €10,592 | €2,883 | -€7,709 | -72.8% |
| Financial income | 75/76B | €0 | €1 | +€1 | +7000.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +7000.0% |
| Financial charges | 65/66B | €238 | €2,869 | +€2,630 | +1103.9% |
| Recurring financial charges | 65 | €238 | €2,869 | +€2,630 | +1103.9% |
| Profit (loss) for the period before taxes | 9903 | €10,353 | €15 | -€10,339 | -99.9% |
| Profit (loss) for the period | 9904 | €10,353 | €15 | -€10,339 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,353 | €15 | -€10,339 | -99.9% |
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 28 September 2026 via checked.be.