FARCAS: 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.
FARCAS
Largest movements
- Current investments +€40,294
up €40,294 (+19.2%), from €210,000 to €250,294
- Receivables within one year +€37,350
up €37,350 (+219.4%), from €17,022 to €54,372
of which Trade receivables: +€38,811
- Tangible fixed assets -€30,962
down €30,962 (-2.7%), from €1.1m to €1.1m
of which Land and buildings: -€34,028
- Trade debts +€55,968
up €55,968 (+101.2%), from €55,324 to €111,293
- Reserves +€43,352
up €43,352 (+7.8%), from €558,176 to €601,528
of which Distributable reserves: +€43,352
- Other debts -€24,580
down €24,580 (-5.1%), from €482,863 to €458,283
- Tax, wage and social debts +€23,624
up €23,624 (+64.6%), from €36,542 to €60,166
of which Taxes: +€20,648
- Debts after one year -€20,254
down €20,254 (-7.2%), from €283,144 to €262,891
- Gross operating margin -€22,401
down €22,401 (-9.1%), from €246,466 to €224,065
- Financial income -€2,478
down €2,478 (-35.2%), from €7,033 to €4,555
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 | €1,581,246 | €1,642,391 | +€61,145 | +3.9% |
| Fixed assets | 21/28 | €1,137,152 | €1,106,190 | -€30,962 | -2.7% |
| Tangible fixed assets | 22/27 | €1,136,602 | €1,105,640 | -€30,962 | -2.7% |
| Land and buildings | 22 | €1,117,091 | €1,083,062 | -€34,028 | -3.0% |
| Plant, machinery and equipment | 23 | €18,897 | €20,559 | +€1,662 | +8.8% |
| Furniture and vehicles | 24 | €615 | €2,019 | +€1,403 | +228.1% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €444,094 | €536,201 | +€92,107 | +20.7% |
| Stocks and contracts in progress | 3 | €76,494 | €80,678 | +€4,184 | +5.5% |
| Stocks | 30/36 | €76,494 | €80,678 | +€4,184 | +5.5% |
| Amounts receivable within one year | 40/41 | €17,022 | €54,372 | +€37,350 | +219.4% |
| Trade receivables | 40 | €12,794 | €51,605 | +€38,811 | +303.4% |
| Other amounts receivable | 41 | €4,228 | €2,767 | -€1,461 | -34.5% |
| Current investments | 50/53 | €210,000 | €250,294 | +€40,294 | +19.2% |
| Cash at bank and in hand | 54/58 | €139,061 | €149,637 | +€10,576 | +7.6% |
| Deferred charges and accrued income | 490/1 | €1,517 | €1,220 | -€297 | -19.6% |
| Total equity and liabilities | 10/49 | €1,581,246 | €1,642,391 | +€61,145 | +3.9% |
| Equity | 10/15 | €683,544 | €726,896 | +€43,352 | +6.3% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €558,176 | €601,528 | +€43,352 | +7.8% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €739 | €739 | = | 0.0% |
| Distributable reserves | 133 | €550,000 | €593,352 | +€43,352 | +7.9% |
| Profit (loss) carried forward | 14 | €51,000 | €51,000 | = | 0.0% |
| Amounts payable | 17/49 | €897,702 | €915,495 | +€17,793 | +2.0% |
| Amounts payable after more than one year | 17 | €283,144 | €262,891 | -€20,254 | -7.2% |
| Financial debts | 170/4 | €283,144 | €262,891 | -€20,254 | -7.2% |
| Amounts payable within one year | 42/48 | €612,817 | €651,685 | +€38,868 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €38,088 | €21,944 | -€16,144 | -42.4% |
| Trade debts | 44 | €55,324 | €111,293 | +€55,968 | +101.2% |
| Suppliers | 440/4 | €55,324 | €111,293 | +€55,968 | +101.2% |
| Taxes, remuneration and social security | 45 | €36,542 | €60,166 | +€23,624 | +64.6% |
| Taxes | 450/3 | €19,866 | €40,514 | +€20,648 | +103.9% |
| Remuneration and social security | 454/9 | €16,676 | €19,652 | +€2,976 | +17.8% |
| Other amounts payable | 47/48 | €482,863 | €458,283 | -€24,580 | -5.1% |
| Accrued charges and deferred income | 492/3 | €1,741 | €919 | -€822 | -47.2% |
| Remuneration, social security and pensions | 62 | €89,412 | €90,640 | +€1,228 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,435 | €38,083 | +€648 | +1.7% |
| Other operating charges | 640/8 | €10,971 | €10,816 | -€155 | -1.4% |
| Non-recurring operating charges | 66A | €16,349 | - | -€16,349 | |
| Gross operating margin | 9900 | €246,466 | €224,065 | -€22,401 | -9.1% |
| Operating profit (loss) | 9901 | €92,300 | €84,526 | -€7,774 | -8.4% |
| Financial income | 75/76B | €7,033 | €4,555 | -€2,478 | -35.2% |
| Recurring financial income | 75 | €7,033 | €4,555 | -€2,478 | -35.2% |
| Financial charges | 65/66B | €24,988 | €23,376 | -€1,612 | -6.5% |
| Recurring financial charges | 65 | €24,988 | €23,376 | -€1,612 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €74,345 | €65,705 | -€8,640 | -11.6% |
| Income taxes | 67/77 | €23,996 | €22,353 | -€1,642 | -6.8% |
| Profit (loss) for the period | 9904 | €50,350 | €43,352 | -€6,998 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,350 | €43,352 | -€6,998 | -13.9% |
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 7 October 2026 via checked.be.