FARAH SARFRAZ: 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.
FARAH SARFRAZ
Largest movements
- Tangible fixed assets -€36,812
down €36,812 (-4.2%), from €875,036 to €838,224
- Debts after one year -€51,777
down €51,777 (-17.9%), from €290,038 to €238,262
of which Financial debts: -€51,777
- Accrued charges and deferred income +€13,048
up €13,048 (+1,123%), from €1,162 to €14,210
- Depreciation +€5,590
up €5,590 (+17.9%), from €31,222 to €36,812
- Taxes -€2,464
down €2,464 (-61.9%), from €3,981 to €1,516
- Financial income -€1,512
down €1,512 (-93.9%), from €1,610 to €98
- Other operating charges +€1,161
up €1,161 (+22.5%), from €5,161 to €6,321
- Financial charges +€940
up €940 (+14.8%), from €6,355 to €7,295
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 | €897,016 | €856,345 | -€40,671 | -4.5% |
| Fixed assets | 21/28 | €875,036 | €838,224 | -€36,812 | -4.2% |
| Tangible fixed assets | 22/27 | €875,036 | €838,224 | -€36,812 | -4.2% |
| Land and buildings | 22 | €875,036 | €838,224 | -€36,812 | -4.2% |
| Current assets | 29/58 | €21,980 | €18,121 | -€3,859 | -17.6% |
| Amounts receivable within one year | 40/41 | €88 | €2,513 | +€2,425 | +2,766% |
| Other amounts receivable | 41 | €88 | €2,513 | +€2,425 | +2,766% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €21,522 | €15,608 | -€5,914 | -27.5% |
| Deferred charges and accrued income | 490/1 | €370 | €0 | -€370 | -100% |
| Total equity and liabilities | 10/49 | €897,016 | €856,345 | -€40,671 | -4.5% |
| Equity | 10/15 | €247,174 | €251,723 | +€4,549 | +1.8% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €212,174 | €216,723 | +€4,549 | +2.1% |
| Distributable reserves | 133 | €212,174 | €216,723 | +€4,549 | +2.1% |
| Amounts payable | 17/49 | €649,842 | €604,622 | -€45,220 | -7.0% |
| Amounts payable after more than one year | 17 | €290,038 | €238,262 | -€51,777 | -17.9% |
| Financial debts | 170/4 | €282,388 | €230,612 | -€51,777 | -18.3% |
| Other amounts payable | 178/9 | €7,650 | €7,650 | = | 0.0% |
| Amounts payable within one year | 42/48 | €358,642 | €352,150 | -€6,492 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €50,705 | €51,777 | +€1,072 | +2.1% |
| Financial debts | 43 | - | €1,349 | +€1,349 | |
| Credit institutions | 430/8 | - | €1,349 | +€1,349 | |
| Trade debts | 44 | €14,666 | €6,540 | -€8,126 | -55.4% |
| Suppliers | 440/4 | €14,666 | €6,540 | -€8,126 | -55.4% |
| Other amounts payable | 47/48 | €293,270 | €292,483 | -€787 | -0.3% |
| Accrued charges and deferred income | 492/3 | €1,162 | €14,210 | +€13,048 | +1,123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,222 | €36,812 | +€5,590 | +17.9% |
| Other operating charges | 640/8 | €5,161 | €6,321 | +€1,161 | +22.5% |
| Gross operating margin | 9900 | €56,777 | €56,396 | -€381 | -0.7% |
| Operating profit (loss) | 9901 | €20,394 | €13,263 | -€7,132 | -35.0% |
| Financial income | 75/76B | €1,610 | €98 | -€1,512 | -93.9% |
| Recurring financial income | 75 | €1,610 | €98 | -€1,512 | -93.9% |
| Financial charges | 65/66B | €6,355 | €7,295 | +€940 | +14.8% |
| Recurring financial charges | 65 | €6,355 | €7,295 | +€940 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €15,649 | €6,066 | -€9,584 | -61.2% |
| Income taxes | 67/77 | €3,981 | €1,516 | -€2,464 | -61.9% |
| Profit (loss) for the period | 9904 | €11,669 | €4,549 | -€7,119 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,669 | €4,549 | -€7,119 | -61.0% |
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 26 October 2026 via checked.be.