FARH-IMMO: 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.
FARH-IMMO
Largest movements
- Receivables within one year -€752,331
down €752,331 (-70.8%), from €1.1m to €310,870
- Tangible fixed assets +€653,063
up €653,063 (+51.3%), from €1.3m to €1.9m
of which Land and buildings: +€659,368
- Cash +€121,317
up €121,317 (+165.1%), from €73,471 to €194,788
mainly Receivables within one year (+€752,331) and Trade debts (+€129,930)
- Trade debts +€129,930
up €129,930 (+5587.7%), from €2,325 to €132,255
- Profit (loss) carried forward -€59,469
down €59,469 (-25.1%), from -€236,697 to -€296,166
- Other debts -€48,000
down €48,000 (-15.4%), from €310,762 to €262,762
- Gross operating margin +€49,877
up €49,877 (+99.8%), from -€49,985 to -€108
- Financial charges +€18,048
up €18,048 (+51.7%), from €34,917 to €52,965
- Depreciation -€2,985
down €2,985 (-32.0%), from €9,323 to €6,338
- Other operating charges -€738
down €738 (-92.7%), from €796 to €58
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 | €2,409,863 | €2,431,911 | +€22,048 | +0.9% |
| Fixed assets | 21/28 | €1,273,191 | €1,926,253 | +€653,063 | +51.3% |
| Tangible fixed assets | 22/27 | €1,272,886 | €1,925,948 | +€653,063 | +51.3% |
| Land and buildings | 22 | €1,257,104 | €1,916,472 | +€659,368 | +52.5% |
| Furniture and vehicles | 24 | €15,782 | €9,476 | -€6,306 | -40.0% |
| Financial fixed assets | 28 | €305 | €305 | = | 0.0% |
| Current assets | 29/58 | €1,136,673 | €505,658 | -€631,015 | -55.5% |
| Amounts receivable within one year | 40/41 | €1,063,201 | €310,870 | -€752,331 | -70.8% |
| Other amounts receivable | 41 | €1,063,201 | €310,870 | -€752,331 | -70.8% |
| Cash at bank and in hand | 54/58 | €73,471 | €194,788 | +€121,317 | +165.1% |
| Total equity and liabilities | 10/49 | €2,409,863 | €2,431,911 | +€22,048 | +0.9% |
| Equity | 10/15 | -€128,637 | -€188,106 | -€59,469 | -46.2% |
| Contributions | 10/11 | €108,060 | €108,060 | = | 0.0% |
| Capital | 10 | €108,060 | €108,060 | = | 0.0% |
| Issued capital | 100 | €108,060 | €108,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€236,697 | -€296,166 | -€59,469 | -25.1% |
| Amounts payable | 17/49 | €2,538,500 | €2,620,017 | +€81,517 | +3.2% |
| Amounts payable after more than one year | 17 | €2,225,000 | €2,225,000 | = | 0.0% |
| Financial debts | 170/4 | €1,900,000 | €1,900,000 | = | 0.0% |
| Other amounts payable | 178/9 | €325,000 | €325,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €313,153 | €395,017 | +€81,865 | +26.1% |
| Trade debts | 44 | €2,325 | €132,255 | +€129,930 | +5587.7% |
| Suppliers | 440/4 | €2,325 | €132,255 | +€129,930 | +5587.7% |
| Taxes, remuneration and social security | 45 | €65 | - | -€65 | |
| Taxes | 450/3 | €65 | - | -€65 | |
| Other amounts payable | 47/48 | €310,762 | €262,762 | -€48,000 | -15.4% |
| Accrued charges and deferred income | 492/3 | €348 | - | -€348 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,323 | €6,338 | -€2,985 | -32.0% |
| Other operating charges | 640/8 | €796 | €58 | -€738 | -92.7% |
| Gross operating margin | 9900 | -€49,985 | -€108 | +€49,877 | +99.8% |
| Operating profit (loss) | 9901 | -€60,105 | -€6,504 | +€53,601 | +89.2% |
| Financial charges | 65/66B | €34,917 | €52,965 | +€18,048 | +51.7% |
| Recurring financial charges | 65 | €34,917 | €52,965 | +€18,048 | +51.7% |
| Profit (loss) for the period before taxes | 9903 | -€95,022 | -€59,469 | +€35,553 | +37.4% |
| Profit (loss) for the period | 9904 | -€95,022 | -€59,469 | +€35,553 | +37.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€95,022 | -€59,469 | +€35,553 | +37.4% |
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 4 October 2026 via checked.be.