FARES BTH: 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.
FARES BTH
Largest movements
- Stocks and contracts +€11,033
up €11,033 (+174.7%), from €6,314 to €17,347
- Cash +€5,706
up €5,706 (+11.3%), from €50,407 to €56,113
mainly Other debts (+€8,002) and Trade debts (+€4,244)
- Other debts +€8,002
up €8,002 (+27.1%), from €29,525 to €37,527
- Trade debts +€4,244
up €4,244 (+27.5%), from €15,417 to €19,661
- Tax, wage and social debts +€2,940
up €2,940 (+85.7%), from €3,429 to €6,370
of which Remuneration and social security: +€2,200
- Profit (loss) carried forward +€2,233
up €2,233 (+26.8%), from €8,331 to €10,564
- Gross operating margin -€11,735
down €11,735 (-60.4%), from €19,417 to €7,681
- Taxes -€3,432
down €3,432 (-82.3%), from €4,172 to €740
- Other operating charges +€437
up €437 (+767.9%), from €57 to €494
- Depreciation +€365
up €365 (+11.1%), from €3,290 to €3,655
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 | €66,702 | €84,121 | +€17,419 | +26.1% |
| Fixed assets | 21/28 | €5,146 | €5,391 | +€245 | +4.8% |
| Tangible fixed assets | 22/27 | €5,146 | €5,391 | +€245 | +4.8% |
| Plant, machinery and equipment | 23 | €713 | €3,738 | +€3,025 | +424.0% |
| Leasing and similar rights | 25 | €2,633 | €135 | -€2,498 | -94.9% |
| Other tangible fixed assets | 26 | €1,800 | €1,518 | -€282 | -15.6% |
| Current assets | 29/58 | €61,557 | €78,731 | +€17,174 | +27.9% |
| Stocks and contracts in progress | 3 | €6,314 | €17,347 | +€11,033 | +174.7% |
| Stocks | 30/36 | €6,314 | €17,347 | +€11,033 | +174.7% |
| Amounts receivable within one year | 40/41 | €4,644 | €5,073 | +€429 | +9.2% |
| Trade receivables | 40 | €3,632 | €2,521 | -€1,112 | -30.6% |
| Other amounts receivable | 41 | €1,012 | €2,552 | +€1,540 | +152.3% |
| Cash at bank and in hand | 54/58 | €50,407 | €56,113 | +€5,706 | +11.3% |
| Deferred charges and accrued income | 490/1 | €192 | €197 | +€6 | +3.0% |
| Total equity and liabilities | 10/49 | €66,702 | €84,121 | +€17,419 | +26.1% |
| Equity | 10/15 | €18,331 | €20,564 | +€2,233 | +12.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Outside capital | 11 | €10,000 | - | -€10,000 | |
| Other | 1109/19 | €10,000 | - | -€10,000 | |
| Profit (loss) carried forward | 14 | €8,331 | €10,564 | +€2,233 | +26.8% |
| Amounts payable | 17/49 | €48,372 | €63,558 | +€15,186 | +31.4% |
| Amounts payable within one year | 42/48 | €48,372 | €63,558 | +€15,186 | +31.4% |
| Trade debts | 44 | €15,417 | €19,661 | +€4,244 | +27.5% |
| Suppliers | 440/4 | €15,417 | €19,661 | +€4,244 | +27.5% |
| Taxes, remuneration and social security | 45 | €3,429 | €6,370 | +€2,940 | +85.7% |
| Taxes | 450/3 | €3,429 | €4,170 | +€740 | +21.6% |
| Remuneration and social security | 454/9 | - | €2,200 | +€2,200 | |
| Other amounts payable | 47/48 | €29,525 | €37,527 | +€8,002 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,290 | €3,655 | +€365 | +11.1% |
| Other operating charges | 640/8 | €57 | €494 | +€437 | +767.9% |
| Gross operating margin | 9900 | €19,417 | €7,681 | -€11,735 | -60.4% |
| Operating profit (loss) | 9901 | €16,069 | €3,532 | -€12,537 | -78.0% |
| Financial income | 75/76B | €1 | €3 | +€2 | +216.0% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +216.0% |
| Financial charges | 65/66B | €396 | €562 | +€166 | +42.0% |
| Recurring financial charges | 65 | €396 | €562 | +€166 | +42.0% |
| Profit (loss) for the period before taxes | 9903 | €15,675 | €2,973 | -€12,701 | -81.0% |
| Income taxes | 67/77 | €4,172 | €740 | -€3,432 | -82.3% |
| Profit (loss) for the period | 9904 | €11,502 | €2,233 | -€9,269 | -80.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,502 | €2,233 | -€9,269 | -80.6% |
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 8 October 2026 via checked.be.