FARECO: 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.
FARECO
Largest movements
- Tangible fixed assets +€408,058
up €408,058 (+111.3%), from €366,539 to €774,598
of which Land and buildings: +€452,644
- Cash -€67,878
down €67,878 (-46.6%), from €145,650 to €77,772
mainly Investment in fixed assets (net) (-€430,723) and Contributions, distributions and other (-€52,170)
- Receivables after one year -€33,059
down €33,059 (-25.9%), from €127,640 to €94,582
- Receivables within one year -€32,253
down €32,253 (-75.2%), from €42,888 to €10,635
of which Trade receivables: -€26,188
- Debts after one year +€101,958
up €101,958 (+148.5%), from €68,636 to €170,594
- Reserves +€75,302
up €75,302 (+13.3%), from €565,932 to €641,234
of which Distributable reserves: +€75,302
- Tax, wage and social debts +€73,824
up €73,824 (+5627.1%), from €1,312 to €75,136
- Current portion of long-term debt +€12,841
up €12,841 (+79.6%), from €16,142 to €28,983
- Gross operating margin +€70,565
up €70,565 (+49.6%), from €142,352 to €212,917
- Taxes +€22,239
up €22,239 (+61.8%), from €35,987 to €58,226
- Depreciation +€8,592
up €8,592 (+61.1%), from €14,072 to €22,664
- Financial charges +€2,514
up €2,514 (+49.3%), from €5,102 to €7,616
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 | €682,717 | €957,586 | +€274,869 | +40.3% |
| Fixed assets | 21/28 | €366,539 | €774,598 | +€408,058 | +111.3% |
| Tangible fixed assets | 22/27 | €366,539 | €774,598 | +€408,058 | +111.3% |
| Land and buildings | 22 | €282,152 | €734,795 | +€452,644 | +160.4% |
| Plant, machinery and equipment | 23 | €1,199 | €2,495 | +€1,296 | +108.0% |
| Furniture and vehicles | 24 | - | €37,308 | +€37,308 | |
| Assets under construction and advance payments | 27 | €83,188 | - | -€83,188 | |
| Current assets | 29/58 | €316,178 | €182,988 | -€133,189 | -42.1% |
| Amounts receivable after more than one year | 29 | €127,640 | €94,582 | -€33,059 | -25.9% |
| Other amounts receivable | 291 | €127,640 | €94,582 | -€33,059 | -25.9% |
| Amounts receivable within one year | 40/41 | €42,888 | €10,635 | -€32,253 | -75.2% |
| Trade receivables | 40 | €30,764 | €4,576 | -€26,188 | -85.1% |
| Other amounts receivable | 41 | €12,124 | €6,059 | -€6,065 | -50.0% |
| Cash at bank and in hand | 54/58 | €145,650 | €77,772 | -€67,878 | -46.6% |
| Total equity and liabilities | 10/49 | €682,717 | €957,586 | +€274,869 | +40.3% |
| Equity | 10/15 | €572,132 | €647,434 | +€75,302 | +13.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €565,932 | €641,234 | +€75,302 | +13.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €564,072 | €639,374 | +€75,302 | +13.3% |
| Amounts payable | 17/49 | €110,585 | €310,152 | +€199,567 | +180.5% |
| Amounts payable after more than one year | 17 | €68,636 | €170,594 | +€101,958 | +148.5% |
| Financial debts | 170/4 | €68,636 | €170,594 | +€101,958 | +148.5% |
| Amounts payable within one year | 42/48 | €41,949 | €139,558 | +€97,609 | +232.7% |
| Current portion of amounts payable after more than one year | 42 | €16,142 | €28,983 | +€12,841 | +79.6% |
| Trade debts | 44 | €2,563 | €4,197 | +€1,633 | +63.7% |
| Suppliers | 440/4 | €2,563 | €4,197 | +€1,633 | +63.7% |
| Taxes, remuneration and social security | 45 | €1,312 | €75,136 | +€73,824 | +5627.1% |
| Taxes | 450/3 | €1,312 | €75,136 | +€73,824 | +5627.1% |
| Other amounts payable | 47/48 | €21,932 | €31,243 | +€9,311 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,072 | €22,664 | +€8,592 | +61.1% |
| Other operating charges | 640/8 | €2,263 | €1,690 | -€573 | -25.3% |
| Gross operating margin | 9900 | €142,352 | €212,917 | +€70,565 | +49.6% |
| Operating profit (loss) | 9901 | €126,017 | €188,563 | +€62,546 | +49.6% |
| Financial income | 75/76B | €5,649 | €4,751 | -€898 | -15.9% |
| Recurring financial income | 75 | €5,649 | €4,751 | -€898 | -15.9% |
| Financial charges | 65/66B | €5,102 | €7,616 | +€2,514 | +49.3% |
| Recurring financial charges | 65 | €5,102 | €7,616 | +€2,514 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | €126,564 | €185,698 | +€59,134 | +46.7% |
| Income taxes | 67/77 | €35,987 | €58,226 | +€22,239 | +61.8% |
| Profit (loss) for the period | 9904 | €90,577 | €127,472 | +€36,895 | +40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,577 | €127,472 | +€36,895 | +40.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.