FÄRM: what changed
What changed
FÄRM
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€1.6m
2024 · €542,731-€2.2m
Equity
€4.7m
2024 · €5.8m-€1.0m
Cash
€2.1m
2024 · €1.0m+€1.0m
Balance sheet total
€22.3m
2024 · €14.7m+€7.6m
Largest movements
Assets
- Financial fixed assets -€10.1m
down €10.1m (-95.7%), from €10.5m to €446,567
of which Affiliated companies: -€10.1m
- Tangible fixed assets +€7.7m
up €7.7m (+24,950%), from €30,736 to €7.7m
of which Land and buildings: +€3.9m
- Intangible fixed assets +€6.4m
up €6.4m (+2,347%), from €272,684 to €6.7m
- Stocks and contracts +€2.9m
up €2.9m, from €0 to €2.9m
- Receivables within one year -€1.2m
down €1.2m (-42.7%), from €2.7m to €1.5m
of which Other amounts receivable: -€1.1m
Equity and liabilities
- Debts after one year +€5.5m
up €5.5m (+113%), from €4.8m to €10.3m
- Trade debts +€3.8m
up €3.8m (+859%), from €440,967 to €4.2m
- Other debts -€2.3m
down €2.3m (-92.9%), from €2.5m to €176,161
- Profit (loss) carried forward -€1.6m
down €1.6m (-101%), from -€1.6m to -€3.2m
- Current portion of long-term debt +€863,933
up €863,933 (+242%), from €356,928 to €1.2m
Income statement
- Turnover +€56.8m
up €56.8m (+1,806%), from €3.1m to €60.0m
- Goods and materials +€42.0m
new in 2025: €42.0m
of which Purchases: +€42.2m
- Staff costs +€7.9m
up €7.9m (+795%), from €989,464 to €8.9m
- Services and other goods +€4.8m
up €4.8m (+334%), from €1.4m to €6.3m
- Depreciation +€2.1m
up €2.1m (+1,521%), from €136,714 to €2.2m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€542,731
Turnover
+€56.8m
Other operating income
+€757,811
Goods and materials
-€42.0m
Services and other goods
-€4.8m
Staff costs
-€7.9m
Depreciation
-€2.1m
Write-downs
-€98,854
Provisions
+€2,649
Other operating charges
-€245,932
Other operating items
-€2.5m
Financial income
+€1.5m
Financial charges
-€1.4m
Taxes
-€302,478
Deferred taxes and other
+€17,360
Result 2025
-€1.6m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€356,391
Investment
-€6.2m
Financing
+€6.9m
Cash 2024
€1.0m
From operations (derived)
+€356,391
Net result for the year
-€1.6m
Depreciation
+€2.2m
Receivables after one year
-€855,297
Stocks and contracts
-€2.9m
Receivables within one year
+€1.2m
Deferred charges and accrued income
-€8,370
Provisions
+€85,746
Trade debts
+€3.8m
Tax, wage and social debts
+€629,586
Other debts
-€2.3m
Accrued charges and deferred income
+€171,640
Investment (derived)
-€6.2m
Investment in fixed assets (net)
-€6.2m
Financing
+€6.9m
Debts after one year
+€5.5m
Current portion of long-term debt
+€863,933
Contributions, distributions and other
+€608,266
Cash 2025
€2.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,666,515 | €22,299,618 | +€7.6m | +52.0% |
| Formation expenses | 20 | - | €7,731 | +€7,731 | |
| Fixed assets | 21/28 | €10,805,431 | €14,818,923 | +€4.0m | +37.1% |
| Intangible fixed assets | 21 | €272,684 | €6,673,170 | +€6.4m | +2,347% |
| Tangible fixed assets | 22/27 | €30,736 | €7,699,186 | +€7.7m | +24,950% |
| Land and buildings | 22 | - | €3,898,636 | +€3.9m | |
| Plant, machinery and equipment | 23 | €0 | €1,195,754 | +€1.2m | |
| Furniture and vehicles | 24 | €30,736 | €284,029 | +€253,293 | +824% |
| Leasing and similar rights | 25 | - | €444,711 | +€444,711 | |
| Other tangible fixed assets | 26 | - | €1,875,107 | +€1.9m | |
| Assets under construction and advance payments | 27 | - | €948 | +€948 | |
| Financial fixed assets | 28 | €10,502,012 | €446,567 | -€10.1m | -95.7% |
| Affiliated companies | 280/1 | €10,415,144 | €300,001 | -€10.1m | -97.1% |
| Participating interests | 280 | €10,415,144 | €300,001 | -€10.1m | -97.1% |
| Companies linked by participating interests | 282/3 | €82,853 | €62,400 | -€20,453 | -24.7% |
| Participating interests | 282 | €72,400 | €62,400 | -€10,000 | -13.8% |
| Amounts receivable | 283 | €10,453 | €0 | -€10,453 | -100% |
| Other financial fixed assets | 284/8 | €4,015 | €84,166 | +€80,151 | +1,996% |
| Shares | 284 | €3,000 | €28,301 | +€25,301 | +843% |
| Amounts receivable and cash guarantees | 285/8 | €1,015 | €55,865 | +€54,850 | +5,404% |
| Current assets | 29/58 | €3,861,084 | €7,472,964 | +€3.6m | +93.5% |
| Amounts receivable after more than one year | 29 | €15,447 | €870,744 | +€855,297 | +5,537% |
| Other amounts receivable | 291 | €15,447 | €870,744 | +€855,297 | +5,537% |
| Stocks and contracts in progress | 3 | €0 | €2,854,461 | +€2.9m | |
| Stocks | 30/36 | €0 | €2,854,461 | +€2.9m | |
| Goods purchased for resale | 34 | €0 | €2,854,461 | +€2.9m | |
| Amounts receivable within one year | 40/41 | €2,692,823 | €1,542,684 | -€1.2m | -42.7% |
| Trade receivables | 40 | €428,501 | €331,727 | -€96,774 | -22.6% |
| Other amounts receivable | 41 | €2,264,322 | €1,210,957 | -€1.1m | -46.5% |
| Cash at bank and in hand | 54/58 | €1,033,790 | €2,077,682 | +€1.0m | +101% |
| Deferred charges and accrued income | 490/1 | €119,024 | €127,394 | +€8,370 | +7.0% |
| Total equity and liabilities | 10/49 | €14,666,515 | €22,299,618 | +€7.6m | +52.0% |
| Equity | 10/15 | €5,775,065 | €4,741,053 | -€1.0m | -17.9% |
| Contributions | 10/11 | €7,361,470 | €7,359,816 | -€1,654 | 0.0% |
| Reserves | 13 | - | €201,216 | +€201,216 | |
| Tax-exempt reserves | 132 | - | €201,216 | +€201,216 | |
| Profit (loss) carried forward | 14 | -€1,586,405 | -€3,195,147 | -€1.6m | -101% |
| Investment grants | 15 | - | €375,167 | +€375,167 | |
| Provisions and deferred taxes | 16 | - | €85,746 | +€85,746 | |
| Deferred taxes | 168 | - | €85,746 | +€85,746 | |
| Amounts payable | 17/49 | €8,891,450 | €17,472,819 | +€8.6m | +96.5% |
| Amounts payable after more than one year | 17 | €4,812,513 | €10,264,914 | +€5.5m | +113% |
| Financial debts | 170/4 | €4,812,513 | €10,264,914 | +€5.5m | +113% |
| Leasing and similar obligations | 172 | - | €353,064 | +€353,064 | |
| Credit institutions | 173 | €2,052,513 | €0 | -€2.1m | -100% |
| Other loans | 174 | €2,760,000 | €9,911,850 | +€7.2m | +259% |
| Amounts payable within one year | 42/48 | €3,721,252 | €6,678,581 | +€3.0m | +79.5% |
| Current portion of amounts payable after more than one year | 42 | €356,928 | €1,220,861 | +€863,933 | +242% |
| Trade debts | 44 | €440,967 | €4,226,742 | +€3.8m | +859% |
| Suppliers | 440/4 | €440,967 | €4,226,742 | +€3.8m | +859% |
| Taxes, remuneration and social security | 45 | €425,231 | €1,054,817 | +€629,586 | +148% |
| Taxes | 450/3 | €351,274 | €214,001 | -€137,273 | -39.1% |
| Remuneration and social security | 454/9 | €73,957 | €840,816 | +€766,859 | +1,037% |
| Other amounts payable | 47/48 | €2,498,127 | €176,161 | -€2.3m | -92.9% |
| Accrued charges and deferred income | 492/3 | €357,684 | €529,324 | +€171,640 | +48.0% |
| Operating income | 70/76A | €3,423,208 | €63,430,479 | +€60.0m | +1,753% |
| Turnover | 70 | €3,145,682 | €59,956,173 | +€56.8m | +1,806% |
| Own construction capitalised | 72 | €70,978 | €0 | -€70,978 | -100% |
| Other operating income | 74 | €168,508 | €926,320 | +€757,811 | +450% |
| Non-recurring operating income | 76A | €38,040 | €2,547,987 | +€2.5m | +6,598% |
| Operating charges | 60/66A | €2,612,140 | €64,619,417 | +€62.0m | +2,374% |
| Goods for resale, raw materials and consumables | 60 | - | €41,991,413 | +€42.0m | |
| Purchases | 600/8 | - | €42,150,289 | +€42.2m | |
| Change in stocks: decrease (increase) | 609 | - | -€158,877 | -€158,877 | |
| Services and other goods | 61 | €1,443,537 | €6,266,261 | +€4.8m | +334% |
| Remuneration, social security and pensions | 62 | €989,464 | €8,857,442 | +€7.9m | +795% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,714 | €2,215,877 | +€2.1m | +1,521% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,500 | €101,354 | +€98,854 | +3,954% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€2,649 | -€2,649 | |
| Other operating charges | 640/8 | €14,697 | €260,629 | +€245,932 | +1,673% |
| Non-recurring operating charges | 66A | €25,229 | €4,929,091 | +€4.9m | +19,438% |
| Operating profit (loss) | 9901 | €811,068 | -€1,188,938 | -€2.0m | |
| Financial income | 75/76B | €80,846 | €1,626,508 | +€1.5m | +1,912% |
| Recurring financial income | 75 | €80,846 | €491,508 | +€410,662 | +508% |
| Income from financial fixed assets | 750 | - | €210,165 | +€210,165 | |
| Income from current assets | 751 | €78,024 | €280 | -€77,744 | -99.6% |
| Other financial income | 752/9 | €2,822 | €281,064 | +€278,241 | +9,858% |
| Non-recurring financial income | 76B | €0 | €1,135,000 | +€1.1m | |
| Financial charges | 65/66B | €494,191 | €1,939,738 | +€1.4m | +293% |
| Recurring financial charges | 65 | €494,191 | €1,877,699 | +€1.4m | +280% |
| Debt charges | 650 | €483,689 | €705,285 | +€221,596 | +45.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | -€38,457 | -€38,457 | |
| Other financial charges | 652/9 | €10,502 | €1,210,872 | +€1.2m | +11,430% |
| Non-recurring financial charges | 66B | €0 | €62,039 | +€62,039 | |
| Profit (loss) for the period before taxes | 9903 | €397,724 | -€1,502,167 | -€1.9m | |
| Transfer from deferred taxes | 780 | - | €17,360 | +€17,360 | |
| Income taxes | 67/77 | -€145,008 | €157,470 | +€302,478 | |
| Taxes | 670/3 | €59 | €213,036 | +€212,978 | +363,072% |
| Tax adjustments and reversals of tax provisions | 77 | €145,066 | €55,566 | -€89,500 | -61.7% |
| Profit (loss) for the period | 9904 | €542,731 | -€1,642,278 | -€2.2m | |
| Transfer from tax-exempt reserves | 789 | - | €33,536 | +€33,536 | |
| Profit (loss) for the period to be appropriated | 9905 | €542,731 | -€1,608,742 | -€2.2m |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.