FARMAD: 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.
What changed
FARMAD
NACE 62.100, Computer programming
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€16,172
2024 · €20,206-€4,034
Equity
€649,510
2024 · €633,338+€16,172
Cash
€303,629
2024 · €435,033-€131,404
Balance sheet total
€9.0m
2024 · €8.7m+€288,285
Largest movements
Assets
- Intangible fixed assets +€396,309
up €396,309 (+9.5%), from €4.2m to €4.6m
- Cash -€131,404
down €131,404 (-30.2%), from €435,033 to €303,629
mainly Investment in fixed assets (net) (-€1.1m) and Advances received (-€84,375)
Equity and liabilities
- Current portion of long-term debt +€300,000
up €300,000 (+18.8%), from €1.6m to €1.9m
Income statement
- Turnover -€9.4m
no longer reported in 2025 (was €9.4m)
- Gross operating margin +€4.6m
new in 2025: €4.6m
- Services and other goods -€3.5m
no longer reported in 2025 (was €3.5m)
- Goods and materials -€1.7m
no longer reported in 2025 (was €1.7m)
of which Purchases: -€1.7m
- Other operating income -€304,726
no longer reported in 2025 (was €304,726)
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.
Result 2024
€20,206
Turnover
-€9.4m
Other operating income
-€304,726
Goods and materials
+€1.7m
Services and other goods
+€3.5m
Staff costs
-€120,524
Depreciation
-€104,748
Write-downs
+€15,351
Other operating charges
+€825
Other operating items
+€4.6m
Financial income
+€1,224
Financial charges
+€8,060
Taxes
-€11,884
Result 2025
€16,172
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.
From operations
+€636,828
Investment
-€1.1m
Financing
+€287,201
Cash 2024
€435,033
From operations (derived)
+€636,828
Net result for the year
+€16,172
Depreciation
+€742,446
Stocks and contracts
-€17,075
Receivables within one year
-€40,700
Deferred charges and accrued income
-€48,927
Trade debts
+€32,083
Tax, wage and social debts
+€30,850
Advances received
-€84,375
Accrued charges and deferred income
+€6,354
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
+€287,201
Current portion of long-term debt
+€300,000
Short-term financial debts
-€12,799
Cash 2025
€303,629
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,730,627 | €9,018,912 | +€288,285 | +3.3% |
| Fixed assets | 21/28 | €6,001,855 | €6,314,843 | +€312,988 | +5.2% |
| Intangible fixed assets | 21 | €4,174,779 | €4,571,088 | +€396,309 | +9.5% |
| Tangible fixed assets | 22/27 | €1,827,076 | €1,743,755 | -€83,321 | -4.6% |
| Land and buildings | 22 | €1,798,994 | €1,725,871 | -€73,123 | -4.1% |
| Plant, machinery and equipment | 23 | €28,082 | €17,885 | -€10,198 | -36.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €2,728,772 | €2,704,069 | -€24,703 | -0.9% |
| Stocks and contracts in progress | 3 | €52,789 | €69,864 | +€17,075 | +32.3% |
| Stocks | 30/36 | €52,789 | €69,864 | +€17,075 | +32.3% |
| Goods purchased for resale | 34 | €52,789 | - | -€52,789 | |
| Amounts receivable within one year | 40/41 | €2,036,707 | €2,077,407 | +€40,700 | +2.0% |
| Trade receivables | 40 | €1,805,180 | €1,896,320 | +€91,140 | +5.0% |
| Other amounts receivable | 41 | €231,528 | €181,087 | -€50,440 | -21.8% |
| Cash at bank and in hand | 54/58 | €435,033 | €303,629 | -€131,404 | -30.2% |
| Deferred charges and accrued income | 490/1 | €204,242 | €253,168 | +€48,927 | +24.0% |
| Total equity and liabilities | 10/49 | €8,730,627 | €9,018,912 | +€288,285 | +3.3% |
| Equity | 10/15 | €633,338 | €649,510 | +€16,172 | +2.6% |
| Contributions | 10/11 | €361,500 | €361,500 | = | 0.0% |
| Capital | 10 | €361,500 | €361,500 | = | 0.0% |
| Issued capital | 100 | €361,500 | €361,500 | = | 0.0% |
| Reserves | 13 | €271,838 | €288,010 | +€16,172 | +5.9% |
| Non-distributable reserves | 130/1 | €40,000 | €40,000 | = | 0.0% |
| Legal reserve | 130 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €231,838 | €248,010 | +€16,172 | +7.0% |
| Amounts payable | 17/49 | €8,097,289 | €8,369,402 | +€272,113 | +3.4% |
| Amounts payable after more than one year | 17 | €2,864,418 | €2,864,418 | = | 0.0% |
| Financial debts | 170/4 | €2,864,418 | €2,864,418 | = | 0.0% |
| Subordinated loans | 170 | €1,700,000 | - | -€1.7m | |
| Other loans | 174 | €1,164,418 | - | -€1.2m | |
| Amounts payable within one year | 42/48 | €3,514,115 | €3,779,874 | +€265,759 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €1,600,000 | €1,900,000 | +€300,000 | +18.8% |
| Financial debts | 43 | €47,642 | €34,843 | -€12,799 | -26.9% |
| Other loans | 439 | €47,642 | €34,843 | -€12,799 | -26.9% |
| Trade debts | 44 | €949,474 | €981,557 | +€32,083 | +3.4% |
| Suppliers | 440/4 | €949,474 | €981,557 | +€32,083 | +3.4% |
| Advances received on contracts in progress | 46 | €84,375 | €0 | -€84,375 | -100.0% |
| Taxes, remuneration and social security | 45 | €832,624 | €863,473 | +€30,850 | +3.7% |
| Taxes | 450/3 | €302,253 | €288,609 | -€13,644 | -4.5% |
| Remuneration and social security | 454/9 | €530,371 | €574,865 | +€44,493 | +8.4% |
| Accrued charges and deferred income | 492/3 | €1,718,755 | €1,725,109 | +€6,354 | +0.4% |
| Operating income | 70/76A | €9,667,045 | - | -€9.7m | |
| Turnover | 70 | €9,355,952 | - | -€9.4m | |
| Other operating income | 74 | €304,726 | - | -€304,726 | |
| Non-recurring operating income | 76A | €6,367 | €8,726 | +€2,359 | +37.0% |
| Operating charges | 60/66A | €9,495,084 | - | -€9.5m | |
| Goods for resale, raw materials and consumables | 60 | €1,726,339 | - | -€1.7m | |
| Purchases | 600/8 | €1,668,762 | - | -€1.7m | |
| Change in stocks: decrease (increase) | 609 | €57,577 | - | -€57,577 | |
| Services and other goods | 61 | €3,519,486 | - | -€3.5m | |
| Remuneration, social security and pensions | 62 | €3,591,605 | €3,712,129 | +€120,524 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €637,698 | €742,446 | +€104,748 | +16.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€15,351 | -€15,351 | |
| Other operating charges | 640/8 | €19,914 | €19,089 | -€825 | -4.1% |
| Non-recurring operating charges | 66A | €42 | €75 | +€33 | +79.1% |
| Gross operating margin | 9900 | - | €4,628,916 | +€4.6m | |
| Operating profit (loss) | 9901 | €171,961 | €170,527 | -€1,434 | -0.8% |
| Financial income | 75/76B | €3,981 | €5,205 | +€1,224 | +30.8% |
| Recurring financial income | 75 | €3,981 | €5,205 | +€1,224 | +30.8% |
| Income from current assets | 751 | €3,981 | - | -€3,981 | |
| Financial charges | 65/66B | €132,724 | €124,664 | -€8,060 | -6.1% |
| Recurring financial charges | 65 | €132,724 | €124,664 | -€8,060 | -6.1% |
| Debt charges | 650 | €132,285 | - | -€132,285 | |
| Other financial charges | 652/9 | €439 | - | -€439 | |
| Profit (loss) for the period before taxes | 9903 | €43,217 | €51,067 | +€7,850 | +18.2% |
| Income taxes | 67/77 | €23,012 | €34,896 | +€11,884 | +51.6% |
| Taxes | 670/3 | €39,200 | - | -€39,200 | |
| Tax adjustments and reversals of tax provisions | 77 | €16,188 | - | -€16,188 | |
| Profit (loss) for the period | 9904 | €20,206 | €16,172 | -€4,034 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,206 | €16,172 | -€4,034 | -20.0% |
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 6 October 2026 via checked.be.