FARAS: 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.
FARAS
Largest movements
- Receivables within one year +€114,354
up €114,354 (+165%), from €69,407 to €183,762
of which Other amounts receivable: +€114,354
- Cash +€54,768
up €54,768 (+46.6%), from €117,507 to €172,275
mainly Net result for the year (+€303,768) and Tax, wage and social debts (+€37,543)
- Reserves +€303,768
up €303,768 (+70.1%), from €433,101 to €736,869
- Debts after one year -€158,959
down €158,959 (-27.0%), from €589,013 to €430,054
- Tax, wage and social debts +€37,543
up €37,543 (+19.0%), from €197,388 to €234,931
of which Taxes: +€37,738
- Gross operating margin +€79,807
up €79,807 (+21.8%), from €366,062 to €445,869
- Taxes +€47,045
up €47,045 (+81.1%), from €58,010 to €105,055
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 | €1,414,226 | €1,572,509 | +€158,284 | +11.2% |
| Fixed assets | 21/28 | €1,227,191 | €1,212,913 | -€14,278 | -1.2% |
| Tangible fixed assets | 22/27 | €27,191 | €12,913 | -€14,278 | -52.5% |
| Plant, machinery and equipment | 23 | €2,822 | €5,400 | +€2,578 | +91.4% |
| Furniture and vehicles | 24 | €19,444 | €3,188 | -€16,256 | -83.6% |
| Other tangible fixed assets | 26 | €4,925 | €4,325 | -€600 | -12.2% |
| Financial fixed assets | 28 | €1,200,000 | €1,200,000 | = | 0.0% |
| Current assets | 29/58 | €187,035 | €359,597 | +€172,562 | +92.3% |
| Amounts receivable within one year | 40/41 | €69,407 | €183,762 | +€114,354 | +165% |
| Trade receivables | 40 | €60,863 | €60,863 | = | 0.0% |
| Other amounts receivable | 41 | €8,544 | €122,899 | +€114,354 | +1,338% |
| Cash at bank and in hand | 54/58 | €117,507 | €172,275 | +€54,768 | +46.6% |
| Deferred charges and accrued income | 490/1 | €121 | €3,560 | +€3,439 | +2,843% |
| Total equity and liabilities | 10/49 | €1,414,226 | €1,572,509 | +€158,284 | +11.2% |
| Equity | 10/15 | €453,101 | €756,869 | +€303,768 | +67.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €433,101 | €736,869 | +€303,768 | +70.1% |
| Distributable reserves | 133 | €433,101 | €736,869 | +€303,768 | +70.1% |
| Amounts payable | 17/49 | €961,124 | €815,640 | -€145,484 | -15.1% |
| Amounts payable after more than one year | 17 | €589,013 | €430,054 | -€158,959 | -27.0% |
| Financial debts | 170/4 | €589,013 | €430,054 | -€158,959 | -27.0% |
| Amounts payable within one year | 42/48 | €372,112 | €385,586 | +€13,475 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €160,808 | €150,040 | -€10,769 | -6.7% |
| Trade debts | 44 | €11,107 | €616 | -€10,491 | -94.5% |
| Suppliers | 440/4 | €11,107 | €616 | -€10,491 | -94.5% |
| Taxes, remuneration and social security | 45 | €197,388 | €234,931 | +€37,543 | +19.0% |
| Taxes | 450/3 | €188,290 | €226,027 | +€37,738 | +20.0% |
| Remuneration and social security | 454/9 | €9,098 | €8,904 | -€195 | -2.1% |
| Other amounts payable | 47/48 | €2,808 | €0 | -€2,808 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,796 | €4,568 | -€4,228 | -48.1% |
| Other operating charges | 640/8 | €1,060 | €1,569 | +€509 | +48.1% |
| Non-recurring operating charges | 66A | - | €3,181 | +€3,181 | |
| Gross operating margin | 9900 | €366,062 | €445,869 | +€79,807 | +21.8% |
| Operating profit (loss) | 9901 | €356,206 | €436,550 | +€80,344 | +22.6% |
| Financial income | 75/76B | €0 | €862 | +€862 | +4,309,100% |
| Recurring financial income | 75 | €0 | €862 | +€862 | +4,309,100% |
| Financial charges | 65/66B | €28,198 | €28,589 | +€390 | +1.4% |
| Recurring financial charges | 65 | €28,198 | €28,589 | +€390 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €328,007 | €408,823 | +€80,816 | +24.6% |
| Income taxes | 67/77 | €58,010 | €105,055 | +€47,045 | +81.1% |
| Profit (loss) for the period | 9904 | €269,998 | €303,768 | +€33,770 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €269,998 | €303,768 | +€33,770 | +12.5% |
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 16 October 2026 via checked.be.