FAP RETAIL: 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.
What changed
FAP RETAIL
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€198,544
2024 · €135,311+€63,233
Equity
€4.7m
2024 · €4.5m+€198,544
Cash
€68,170
2024 · €26,358+€41,812
Balance sheet total
€7.3m
2024 · €7.2m+€122,873
Largest movements
Assets
- Receivables within one year +€175,601
up €175,601 (+4.1%), from €4.3m to €4.5m
of which Other amounts receivable: +€175,601
- Tangible fixed assets -€92,406
down €92,406 (-3.2%), from €2.9m to €2.8m
Equity and liabilities
- Profit (loss) carried forward +€205,817
up €205,817 (+10.2%), from €2.0m to €2.2m
- Debts after one year -€115,863
down €115,863 (-6.5%), from €1.8m to €1.7m
of which Financial debts: -€115,863
Income statement
- Taxes -€197,462
down €197,462 (-69.1%), from €285,804 to €88,342
- Gross operating margin +€45,513
up €45,513 (+22.6%), from €201,527 to €247,040
- Other operating charges -€12,474
down €12,474 (-29.4%), from €42,374 to €29,900
- Financial income -€10,485
down €10,485 (-5.2%), from €202,923 to €192,438
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.
Result 2024
€135,311
Gross operating margin
+€45,513
Depreciation
-€67
Other operating charges
+€12,474
Financial income
-€10,485
Financial charges
-€1,689
Taxes
+€197,462
Deferred taxes and other
-€179,975
Result 2025
€198,544
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€155,185
Investment
€0
Financing
-€113,373
Cash 2024
€26,358
From operations (derived)
+€155,185
Net result for the year
+€198,544
Depreciation
+€92,406
Receivables within one year
-€175,601
Deferred charges and accrued income
+€2,135
Provisions
-€16,322
Trade debts
-€30,099
Tax, wage and social debts
+€59,548
Accrued charges and deferred income
+€24,575
Financing
-€113,373
Debts after one year
-€115,863
Current portion of long-term debt
+€2,490
Cash 2025
€68,170
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,218,820 | €7,341,693 | +€122,873 | +1.7% |
| Fixed assets | 21/28 | €2,866,331 | €2,773,925 | -€92,406 | -3.2% |
| Tangible fixed assets | 22/27 | €2,866,331 | €2,773,925 | -€92,406 | -3.2% |
| Land and buildings | 22 | €2,866,331 | €2,773,925 | -€92,406 | -3.2% |
| Current assets | 29/58 | €4,352,489 | €4,567,768 | +€215,279 | +4.9% |
| Amounts receivable within one year | 40/41 | €4,323,997 | €4,499,598 | +€175,601 | +4.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,323,997 | €4,499,598 | +€175,601 | +4.1% |
| Cash at bank and in hand | 54/58 | €26,358 | €68,170 | +€41,812 | +159% |
| Deferred charges and accrued income | 490/1 | €2,135 | €0 | -€2,135 | -100% |
| Total equity and liabilities | 10/49 | €7,218,820 | €7,341,693 | +€122,873 | +1.7% |
| Equity | 10/15 | €4,474,856 | €4,673,400 | +€198,544 | +4.4% |
| Contributions | 10/11 | €853,891 | €853,891 | = | 0.0% |
| Reserves | 13 | €1,612,559 | €1,605,286 | -€7,273 | -0.5% |
| Tax-exempt reserves | 132 | €412,156 | €404,883 | -€7,273 | -1.8% |
| Distributable reserves | 133 | €1,200,403 | €1,200,403 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,008,406 | €2,214,223 | +€205,817 | +10.2% |
| Provisions and deferred taxes | 16 | €487,442 | €471,120 | -€16,322 | -3.3% |
| Deferred taxes | 168 | €487,442 | €471,120 | -€16,322 | -3.3% |
| Amounts payable | 17/49 | €2,256,523 | €2,197,173 | -€59,349 | -2.6% |
| Amounts payable after more than one year | 17 | €1,780,945 | €1,665,082 | -€115,863 | -6.5% |
| Financial debts | 170/4 | €1,760,495 | €1,644,632 | -€115,863 | -6.6% |
| Other amounts payable | 178/9 | €20,450 | €20,450 | = | 0.0% |
| Amounts payable within one year | 42/48 | €466,485 | €498,424 | +€31,939 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €113,373 | €115,863 | +€2,490 | +2.2% |
| Trade debts | 44 | €50,399 | €20,300 | -€30,099 | -59.7% |
| Suppliers | 440/4 | €50,399 | €20,300 | -€30,099 | -59.7% |
| Taxes, remuneration and social security | 45 | €302,713 | €362,260 | +€59,548 | +19.7% |
| Taxes | 450/3 | €302,713 | €362,260 | +€59,548 | +19.7% |
| Accrued charges and deferred income | 492/3 | €9,093 | €33,667 | +€24,575 | +270% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,339 | €92,406 | +€67 | +0.1% |
| Other operating charges | 640/8 | €42,374 | €29,900 | -€12,474 | -29.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €201,527 | €247,040 | +€45,513 | +22.6% |
| Operating profit (loss) | 9901 | €66,814 | €124,734 | +€57,921 | +86.7% |
| Financial income | 75/76B | €202,923 | €192,438 | -€10,485 | -5.2% |
| Recurring financial income | 75 | €202,923 | €192,438 | -€10,485 | -5.2% |
| Financial charges | 65/66B | €44,919 | €46,608 | +€1,689 | +3.8% |
| Recurring financial charges | 65 | €44,919 | €46,608 | +€1,689 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €224,818 | €270,564 | +€45,747 | +20.3% |
| Transfer from deferred taxes | 780 | €196,297 | €16,322 | -€179,975 | -91.7% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €285,804 | €88,342 | -€197,462 | -69.1% |
| Profit (loss) for the period | 9904 | €135,311 | €198,544 | +€63,233 | +46.7% |
| Transfer from tax-exempt reserves | 789 | €87,470 | €7,273 | -€80,197 | -91.7% |
| Transfer to tax-exempt reserves | 689 | €201,173 | €0 | -€201,173 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €21,608 | €205,817 | +€184,209 | +852% |
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 14 October 2026 via checked.be.