FAROEK: 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.
FAROEK
Largest movements
- Receivables within one year +€41,253
up €41,253 (+199.1%), from €20,718 to €61,970
of which Trade receivables: +€41,253
- Cash +€26,591
up €26,591 (+18.7%), from €142,379 to €168,970
mainly Net result for the year (+€75,596) and Depreciation (+€5,814)
- Current investments -€4,172
no longer reported in 2025 (was €4,172)
- Reserves +€75,596
up €75,596 (+56.8%), from €133,115 to €208,710
- Tax, wage and social debts -€13,000
down €13,000 (-57.8%), from €22,502 to €9,503
- Other debts +€3,217
up €3,217 (+13.9%), from €23,073 to €26,290
- Trade debts -€2,777
down €2,777 (-100.0%), from €2,777 to €0
- Gross operating margin +€51,670
up €51,670 (+102.6%), from €50,371 to €102,041
- Taxes +€10,792
up €10,792 (+100.9%), from €10,699 to €21,491
- Financial income +€2,107
up €2,107 (+247.7%), from €851 to €2,958
- Staff costs +€1,365
new in 2025: €1,365
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 | €191,468 | €254,503 | +€63,036 | +32.9% |
| Fixed assets | 21/28 | €24,199 | €23,076 | -€1,123 | -4.6% |
| Tangible fixed assets | 22/27 | €24,199 | €23,076 | -€1,123 | -4.6% |
| Land and buildings | 22 | €17,746 | €13,883 | -€3,863 | -21.8% |
| Plant, machinery and equipment | 23 | €716 | €5,103 | +€4,387 | +612.9% |
| Furniture and vehicles | 24 | €5,737 | €4,090 | -€1,647 | -28.7% |
| Current assets | 29/58 | €167,269 | €231,427 | +€64,158 | +38.4% |
| Amounts receivable within one year | 40/41 | €20,718 | €61,970 | +€41,253 | +199.1% |
| Trade receivables | 40 | €20,718 | €61,970 | +€41,253 | +199.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €4,172 | - | -€4,172 | |
| Cash at bank and in hand | 54/58 | €142,379 | €168,970 | +€26,591 | +18.7% |
| Deferred charges and accrued income | 490/1 | €0 | €487 | +€487 | |
| Total equity and liabilities | 10/49 | €191,468 | €254,503 | +€63,036 | +32.9% |
| Equity | 10/15 | €143,115 | €218,710 | +€75,596 | +52.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €133,115 | €208,710 | +€75,596 | +56.8% |
| Distributable reserves | 133 | €133,115 | €208,710 | +€75,596 | +56.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €48,353 | €35,793 | -€12,560 | -26.0% |
| Amounts payable within one year | 42/48 | €48,353 | €35,793 | -€12,560 | -26.0% |
| Trade debts | 44 | €2,777 | €0 | -€2,777 | -100.0% |
| Suppliers | 440/4 | €2,777 | €0 | -€2,777 | -100.0% |
| Taxes, remuneration and social security | 45 | €22,502 | €9,503 | -€13,000 | -57.8% |
| Taxes | 450/3 | €22,502 | €9,503 | -€13,000 | -57.8% |
| Other amounts payable | 47/48 | €23,073 | €26,290 | +€3,217 | +13.9% |
| Remuneration, social security and pensions | 62 | - | €1,365 | +€1,365 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,185 | €5,814 | +€629 | +12.1% |
| Other operating charges | 640/8 | €393 | €520 | +€127 | +32.2% |
| Gross operating margin | 9900 | €50,371 | €102,041 | +€51,670 | +102.6% |
| Operating profit (loss) | 9901 | €44,793 | €94,343 | +€49,549 | +110.6% |
| Financial income | 75/76B | €851 | €2,958 | +€2,107 | +247.7% |
| Recurring financial income | 75 | €851 | €2,958 | +€2,107 | +247.7% |
| Financial charges | 65/66B | €156 | €214 | +€57 | +36.7% |
| Recurring financial charges | 65 | €156 | €214 | +€57 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €45,488 | €97,086 | +€51,599 | +113.4% |
| Income taxes | 67/77 | €10,699 | €21,491 | +€10,792 | +100.9% |
| Profit (loss) for the period | 9904 | €34,788 | €75,596 | +€40,807 | +117.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,788 | €75,596 | +€40,807 | +117.3% |
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.