FARA: 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.
FARA
Largest movements
- Cash +€205,323
up €205,323 (+282.7%), from €72,626 to €277,949
mainly Debts after one year (+€300,000) and Depreciation (+€129,621)
- Tangible fixed assets +€118,708
up €118,708 (+7.8%), from €1.5m to €1.6m
of which Land and buildings: +€117,934
- Current investments -€115,077
down €115,077 (-100.0%), from €115,077 to €0
- Debts after one year +€300,000
up €300,000 (+60.6%), from €495,000 to €795,000
- Profit (loss) carried forward -€56,014
down €56,014 (-37.4%), from -€149,817 to -€205,831
- Reserves -€22,270
down €22,270 (-4.9%), from €451,817 to €429,546
of which Tax-exempt reserves: -€22,270
- Gross operating margin +€5,089
up €5,089 (+6.8%), from €74,860 to €79,949
- Depreciation -€4,897
down €4,897 (-3.6%), from €134,519 to €129,621
- Financial charges -€2,662
down €2,662 (-7.4%), from €36,115 to €33,453
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 | €1,711,549 | €1,920,603 | +€209,053 | +12.2% |
| Fixed assets | 21/28 | €1,523,780 | €1,642,488 | +€118,708 | +7.8% |
| Tangible fixed assets | 22/27 | €1,523,780 | €1,642,488 | +€118,708 | +7.8% |
| Land and buildings | 22 | €1,523,780 | €1,641,714 | +€117,934 | +7.7% |
| Furniture and vehicles | 24 | - | €774 | +€774 | |
| Current assets | 29/58 | €187,770 | €278,115 | +€90,345 | +48.1% |
| Amounts receivable within one year | 40/41 | €66 | €167 | +€100 | +151.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €66 | €167 | +€100 | +151.5% |
| Current investments | 50/53 | €115,077 | €0 | -€115,077 | -100.0% |
| Cash at bank and in hand | 54/58 | €72,626 | €277,949 | +€205,323 | +282.7% |
| Total equity and liabilities | 10/49 | €1,711,549 | €1,920,603 | +€209,053 | +12.2% |
| Equity | 10/15 | €701,999 | €623,715 | -€78,284 | -11.2% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €451,817 | €429,546 | -€22,270 | -4.9% |
| Non-distributable reserves | 130/1 | €39,688 | €39,688 | = | 0.0% |
| Legal reserve | 130 | €39,688 | €39,688 | = | 0.0% |
| Tax-exempt reserves | 132 | €367,034 | €344,764 | -€22,270 | -6.1% |
| Distributable reserves | 133 | €45,095 | €45,095 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€149,817 | -€205,831 | -€56,014 | -37.4% |
| Provisions and deferred taxes | 16 | €122,345 | €114,837 | -€7,508 | -6.1% |
| Deferred taxes | 168 | €122,345 | €114,837 | -€7,508 | -6.1% |
| Amounts payable | 17/49 | €887,205 | €1,182,051 | +€294,846 | +33.2% |
| Amounts payable after more than one year | 17 | €495,000 | €795,000 | +€300,000 | +60.6% |
| Financial debts | 170/4 | €495,000 | €795,000 | +€300,000 | +60.6% |
| Amounts payable within one year | 42/48 | €392,205 | €387,051 | -€5,154 | -1.3% |
| Trade debts | 44 | €126 | €0 | -€126 | -100.0% |
| Suppliers | 440/4 | €126 | €0 | -€126 | -100.0% |
| Other amounts payable | 47/48 | €392,079 | €387,051 | -€5,028 | -1.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,519 | €129,621 | -€4,897 | -3.6% |
| Other operating charges | 640/8 | €8,482 | €8,739 | +€257 | +3.0% |
| Gross operating margin | 9900 | €74,860 | €79,949 | +€5,089 | +6.8% |
| Operating profit (loss) | 9901 | -€68,140 | -€58,411 | +€9,729 | +14.3% |
| Financial income | 75/76B | €5,814 | €6,071 | +€257 | +4.4% |
| Recurring financial income | 75 | €5,814 | €6,071 | +€257 | +4.4% |
| Financial charges | 65/66B | €36,115 | €33,453 | -€2,662 | -7.4% |
| Recurring financial charges | 65 | €36,115 | €33,453 | -€2,662 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€98,441 | -€85,792 | +€12,649 | +12.8% |
| Transfer from deferred taxes | 780 | €6,619 | €7,508 | +€890 | +13.4% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€91,822 | -€78,284 | +€13,538 | +14.7% |
| Transfer from tax-exempt reserves | 789 | €20,330 | €22,270 | +€1,941 | +9.5% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€71,493 | -€56,014 | +€15,479 | +21.7% |
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 4 October 2026 via checked.be.