FARKO: what changed
Two financial 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.
FARKO
Largest movements
- Stocks and contracts -€77,008
down €77,008 (-42.5%), from €181,180 to €104,172
- Cash -€29,896
down €29,896 (-70.5%), from €42,425 to €12,529
mainly Trade debts (-€154,124) and Tax, wage and social debts (-€7,607)
- Trade debts -€154,124
down €154,124 (-60.1%), from €256,474 to €102,350
- Profit (loss) carried forward +€36,924
up €36,924 (+22.2%), from €166,159 to €203,083
- Debts after one year +€11,924
new in 2025: €11,924
- Tax, wage and social debts -€7,607
down €7,607 (-25.3%), from €30,122 to €22,516
of which Taxes: -€12,569
- Gross operating margin +€7,562
up €7,562 (+7.3%), from €103,163 to €110,725
- Financial charges +€2,350
up €2,350 (+49.4%), from €4,753 to €7,103
- Staff costs +€2,160
up €2,160 (+5.9%), from €36,351 to €38,511
- Other operating charges -€1,828
down €1,828 (-21.4%), from €8,542 to €6,714
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 | €474,294 | €361,700 | -€112,594 | -23.7% |
| Fixed assets | 21/28 | €17,510 | €14,384 | -€3,126 | -17.9% |
| Tangible fixed assets | 22/27 | €8,695 | €5,569 | -€3,126 | -35.9% |
| Plant, machinery and equipment | 23 | €505 | €38 | -€467 | -92.4% |
| Furniture and vehicles | 24 | €8,190 | €5,531 | -€2,659 | -32.5% |
| Financial fixed assets | 28 | €8,815 | €8,815 | = | 0.0% |
| Current assets | 29/58 | €456,784 | €347,316 | -€109,468 | -24.0% |
| Stocks and contracts in progress | 3 | €181,180 | €104,172 | -€77,008 | -42.5% |
| Stocks | 30/36 | €181,180 | €104,172 | -€77,008 | -42.5% |
| Amounts receivable within one year | 40/41 | €233,180 | €230,291 | -€2,888 | -1.2% |
| Trade receivables | 40 | €206,352 | €218,948 | +€12,596 | +6.1% |
| Other amounts receivable | 41 | €26,827 | €11,343 | -€15,485 | -57.7% |
| Cash at bank and in hand | 54/58 | €42,425 | €12,529 | -€29,896 | -70.5% |
| Deferred charges and accrued income | 490/1 | - | €325 | +€325 | |
| Total equity and liabilities | 10/49 | €474,294 | €361,700 | -€112,594 | -23.7% |
| Equity | 10/15 | €186,159 | €223,083 | +€36,924 | +19.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €166,159 | €203,083 | +€36,924 | +22.2% |
| Amounts payable | 17/49 | €288,135 | €138,617 | -€149,518 | -51.9% |
| Amounts payable after more than one year | 17 | - | €11,924 | +€11,924 | |
| Financial debts | 170/4 | - | €11,924 | +€11,924 | |
| Amounts payable within one year | 42/48 | €288,135 | €126,693 | -€161,442 | -56.0% |
| Trade debts | 44 | €256,474 | €102,350 | -€154,124 | -60.1% |
| Suppliers | 440/4 | €256,474 | €102,350 | -€154,124 | -60.1% |
| Taxes, remuneration and social security | 45 | €30,122 | €22,516 | -€7,607 | -25.3% |
| Taxes | 450/3 | €16,032 | €3,462 | -€12,569 | -78.4% |
| Remuneration and social security | 454/9 | €14,091 | €19,053 | +€4,962 | +35.2% |
| Other amounts payable | 47/48 | €1,539 | €1,827 | +€288 | +18.7% |
| Remuneration, social security and pensions | 62 | €36,351 | €38,511 | +€2,160 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,266 | €4,226 | -€40 | -0.9% |
| Other operating charges | 640/8 | €8,542 | €6,714 | -€1,828 | -21.4% |
| Gross operating margin | 9900 | €103,163 | €110,725 | +€7,562 | +7.3% |
| Operating profit (loss) | 9901 | €54,004 | €61,274 | +€7,270 | +13.5% |
| Financial income | 75/76B | - | €23 | +€23 | |
| Recurring financial income | 75 | - | €23 | +€23 | |
| Financial charges | 65/66B | €4,753 | €7,103 | +€2,350 | +49.4% |
| Recurring financial charges | 65 | €4,753 | €7,103 | +€2,350 | +49.4% |
| Profit (loss) for the period before taxes | 9903 | €49,251 | €54,194 | +€4,943 | +10.0% |
| Income taxes | 67/77 | €16,587 | €17,270 | +€683 | +4.1% |
| Profit (loss) for the period | 9904 | €32,664 | €36,924 | +€4,260 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,664 | €36,924 | +€4,260 | +13.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.