FARIO: 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.
FARIO
Largest movements
- Tangible fixed assets -€50,691
down €50,691 (-5.6%), from €901,538 to €850,847
of which Land and buildings: -€27,316
- Reserves +€225,000
up €225,000 (+3629.0%), from €6,200 to €231,200
of which Distributable reserves: +€225,000
- Debts after one year -€127,790
down €127,790 (-11.0%), from €1.2m to €1.0m
- Profit (loss) carried forward -€95,097
down €95,097 (-91.2%), from €104,318 to €9,222
- Other debts -€54,622
down €54,622 (-17.6%), from €310,551 to €255,929
- Financial income +€85,000
new in 2025: €85,000
- Gross operating margin +€27,161
up €27,161 (+19.7%), from €137,735 to €164,896
- Depreciation +€9,714
up €9,714 (+23.7%), from €40,977 to €50,691
- Taxes +€9,675
new in 2025: €9,675
- Financial charges +€9,453
up €9,453 (+22.3%), from €42,479 to €51,931
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 | €1,787,074 | €1,746,329 | -€40,745 | -2.3% |
| Fixed assets | 21/28 | €1,740,538 | €1,702,483 | -€38,055 | -2.2% |
| Tangible fixed assets | 22/27 | €901,538 | €850,847 | -€50,691 | -5.6% |
| Land and buildings | 22 | €817,803 | €790,487 | -€27,316 | -3.3% |
| Furniture and vehicles | 24 | €3,941 | €1,912 | -€2,029 | -51.5% |
| Other tangible fixed assets | 26 | €79,793 | €58,447 | -€21,346 | -26.8% |
| Financial fixed assets | 28 | €839,000 | €851,636 | +€12,636 | +1.5% |
| Current assets | 29/58 | €46,537 | €43,847 | -€2,690 | -5.8% |
| Amounts receivable within one year | 40/41 | €32,641 | €39,847 | +€7,207 | +22.1% |
| Trade receivables | 40 | €16,170 | €27,707 | +€11,536 | +71.3% |
| Other amounts receivable | 41 | €16,470 | €12,141 | -€4,330 | -26.3% |
| Cash at bank and in hand | 54/58 | €12,687 | €559 | -€12,128 | -95.6% |
| Deferred charges and accrued income | 490/1 | €1,209 | €3,440 | +€2,231 | +184.5% |
| Total equity and liabilities | 10/49 | €1,787,074 | €1,746,329 | -€40,745 | -2.3% |
| Equity | 10/15 | €172,518 | €302,422 | +€129,903 | +75.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €231,200 | +€225,000 | +3629.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | - | €225,000 | +€225,000 | |
| Profit (loss) carried forward | 14 | €104,318 | €9,222 | -€95,097 | -91.2% |
| Amounts payable | 17/49 | €1,614,556 | €1,443,908 | -€170,648 | -10.6% |
| Amounts payable after more than one year | 17 | €1,158,282 | €1,030,493 | -€127,790 | -11.0% |
| Financial debts | 170/4 | €1,158,282 | €1,030,493 | -€127,790 | -11.0% |
| Amounts payable within one year | 42/48 | €456,274 | €412,903 | -€43,371 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €120,975 | €126,164 | +€5,190 | +4.3% |
| Trade debts | 44 | €6,678 | €17,838 | +€11,160 | +167.1% |
| Suppliers | 440/4 | €6,678 | €17,838 | +€11,160 | +167.1% |
| Advances received on contracts in progress | 46 | €9,800 | - | -€9,800 | |
| Taxes, remuneration and social security | 45 | €8,270 | €12,972 | +€4,701 | +56.8% |
| Taxes | 450/3 | €8,270 | €12,972 | +€4,701 | +56.8% |
| Other amounts payable | 47/48 | €310,551 | €255,929 | -€54,622 | -17.6% |
| Accrued charges and deferred income | 492/3 | - | €512 | +€512 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,977 | €50,691 | +€9,714 | +23.7% |
| Other operating charges | 640/8 | €5,613 | €7,696 | +€2,082 | +37.1% |
| Gross operating margin | 9900 | €137,735 | €164,896 | +€27,161 | +19.7% |
| Operating profit (loss) | 9901 | €91,144 | €106,510 | +€15,365 | +16.9% |
| Financial income | 75/76B | - | €85,000 | +€85,000 | |
| Recurring financial income | 75 | - | €85,000 | +€85,000 | |
| Financial charges | 65/66B | €42,479 | €51,931 | +€9,453 | +22.3% |
| Recurring financial charges | 65 | €42,479 | €51,931 | +€9,453 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €48,666 | €139,578 | +€90,912 | +186.8% |
| Income taxes | 67/77 | - | €9,675 | +€9,675 | |
| Profit (loss) for the period | 9904 | €48,666 | €129,903 | +€81,237 | +166.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,666 | €129,903 | +€81,237 | +166.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.