FARMER GRAY: 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.
FARMER GRAY
Largest movements
- Tangible fixed assets +€66,665
up €66,665 (+7,477%), from €892 to €67,557
- Receivables within one year +€17,205
up €17,205 (+297%), from €5,785 to €22,990
of which Trade receivables: +€17,848
- Cash -€15,896
down €15,896 (-15.6%), from €101,863 to €85,968
mainly Investment in fixed assets (net) (-€81,021) and Receivables within one year (-€17,205)
- Profit (loss) carried forward +€62,349
up €62,349 (+113%), from €55,005 to €117,354
- Tax, wage and social debts +€12,317
up €12,317 (+172%), from €7,163 to €19,480
- Other debts -€5,953
down €5,953 (-15.4%), from €38,721 to €32,768
- Gross operating margin +€65,409
up €65,409 (+220%), from €29,696 to €95,106
- Depreciation +€14,344
up €14,344 (+128,881%), from €11 to €14,356
- Taxes +€11,532
up €11,532 (+249%), from €4,638 to €16,169
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,740 | €176,949 | +€68,209 | +62.7% |
| Fixed assets | 21/28 | €1,092 | €67,757 | +€66,665 | +6,107% |
| Tangible fixed assets | 22/27 | €892 | €67,557 | +€66,665 | +7,477% |
| Furniture and vehicles | 24 | €892 | €67,557 | +€66,665 | +7,477% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €107,649 | €109,192 | +€1,544 | +1.4% |
| Amounts receivable within one year | 40/41 | €5,785 | €22,990 | +€17,205 | +297% |
| Trade receivables | 40 | €5,143 | €22,990 | +€17,848 | +347% |
| Other amounts receivable | 41 | €643 | €0 | -€643 | -100% |
| Cash at bank and in hand | 54/58 | €101,863 | €85,968 | -€15,896 | -15.6% |
| Deferred charges and accrued income | 490/1 | - | €235 | +€235 | |
| Total equity and liabilities | 10/49 | €108,740 | €176,949 | +€68,209 | +62.7% |
| Equity | 10/15 | €60,005 | €122,354 | +€62,349 | +104% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,005 | €117,354 | +€62,349 | +113% |
| Amounts payable | 17/49 | €48,735 | €54,595 | +€5,860 | +12.0% |
| Amounts payable within one year | 42/48 | €47,492 | €52,639 | +€5,148 | +10.8% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €1,608 | €392 | -€1,216 | -75.6% |
| Suppliers | 440/4 | €1,608 | €392 | -€1,216 | -75.6% |
| Taxes, remuneration and social security | 45 | €7,163 | €19,480 | +€12,317 | +172% |
| Taxes | 450/3 | €7,163 | €19,480 | +€12,317 | +172% |
| Other amounts payable | 47/48 | €38,721 | €32,768 | -€5,953 | -15.4% |
| Accrued charges and deferred income | 492/3 | €1,243 | €1,955 | +€712 | +57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11 | €14,356 | +€14,344 | +128,881% |
| Other operating charges | 640/8 | €123 | €106 | -€17 | -13.8% |
| Gross operating margin | 9900 | €29,696 | €95,106 | +€65,409 | +220% |
| Operating profit (loss) | 9901 | €29,562 | €80,644 | +€51,082 | +173% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €1,449 | €2,125 | +€676 | +46.6% |
| Recurring financial charges | 65 | €1,449 | €2,125 | +€676 | +46.6% |
| Profit (loss) for the period before taxes | 9903 | €28,115 | €78,519 | +€50,403 | +179% |
| Income taxes | 67/77 | €4,638 | €16,169 | +€11,532 | +249% |
| Profit (loss) for the period | 9904 | €23,477 | €62,349 | +€38,872 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €23,477 | €62,349 | +€38,872 | +166% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.