Farys: what changed
What changed
Farys
NACE 36.000, Water collection, treatment and supply
filed annual accounts (NBB)
Net result for the year
€40.3m
2024 · €38.2m+€2.1m
Equity
€2.04bn
2024 · €1.92bn+€120.1m
Cash
€5.8m
2024 · €9.0m-€3.2m
Balance sheet total
€3.81bn
2024 · €3.66bn+€157.9m
Largest movements
Assets
- Tangible fixed assets +€122.1m
up €122.1m (+3.8%), from €3.23bn to €3.35bn
of which Plant, machinery and equipment: +€118.4m
Equity and liabilities
- Debts after one year +€96.6m
up €96.6m (+7.2%), from €1.34bn to €1.43bn
of which Financial debts: +€103.8m
- Investment grants +€80.1m
up €80.1m (+32.6%), from €245.3m to €325.3m
- Other debts -€54.7m
down €54.7m (-81.5%), from €67.1m to €12.4m
- Reserves +€46.3m
up €46.3m (+9.4%), from €491.7m to €538.1m
of which Distributable reserves: +€48.3m
Income statement
- Turnover +€70.6m
up €70.6m (+14.0%), from €506.3m to €576.9m
- Other operating income -€33.9m
down €33.9m (-73.5%), from €46.2m to €12.3m
- Provisions +€10.0m
up €10.0m, from -€5.6m to €4.4m
- Goods and materials +€7.7m
up €7.7m (+3.1%), from €248.8m to €256.5m
of which Purchases: +€7.5m
- Staff costs +€7.3m
up €7.3m (+7.6%), from €96.8m to €104.1m
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
€38.2m
Turnover
+€70.6m
Other operating income
-€33.9m
Goods and materials
-€7.7m
Services and other goods
-€2.5m
Staff costs
-€7.3m
Depreciation
-€4.1m
Write-downs
-€17,956
Provisions
-€10.0m
Other operating charges
-€213,108
Other operating items
-€4.3m
Financial income
+€4.8m
Financial charges
-€3.3m
Taxes
+€51,117
Result 2025
€40.3m
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
+€95.6m
Investment
-€229.2m
Financing
+€130.4m
Cash 2024
€9.0m
From operations (derived)
+€95.6m
Net result for the year
+€40.3m
Depreciation
+€90.3m
Stocks and contracts
-€676,433
Receivables within one year
-€8.0m
Deferred charges and accrued income
-€13.4m
Provisions
+€4.4m
Trade debts
+€6.4m
Tax, wage and social debts
+€2.2m
Advances received
+€17.6m
Other debts
-€54.7m
Accrued charges and deferred income
+€11.2m
Investment (derived)
-€229.2m
Investment in fixed assets (net)
-€213.2m
Current investments
-€16.0m
Financing
+€130.4m
Debts after one year
+€96.6m
Current portion of long-term debt
-€12.9m
Short-term financial debts
-€33.0m
Contributions, distributions and other
+€79.8m
Cash 2025
€5.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,655,171,752 | €3,813,056,906 | +€157.9m | +4.3% |
| Fixed assets | 21/28 | €3,268,624,871 | €3,391,615,397 | +€123.0m | +3.8% |
| Intangible fixed assets | 21 | €21,731,822 | €22,578,880 | +€847,058 | +3.9% |
| Tangible fixed assets | 22/27 | €3,230,806,790 | €3,352,859,158 | +€122.1m | +3.8% |
| Land and buildings | 22 | €265,029,761 | €284,291,228 | +€19.3m | +7.3% |
| Plant, machinery and equipment | 23 | €2,874,099,356 | €2,992,493,907 | +€118.4m | +4.1% |
| Furniture and vehicles | 24 | €3,644,072 | €4,882,431 | +€1.2m | +34.0% |
| Assets under construction and advance payments | 27 | €88,033,600 | €71,191,592 | -€16.8m | -19.1% |
| Financial fixed assets | 28 | €16,086,259 | €16,177,359 | +€91,100 | +0.6% |
| Affiliated companies | 280/1 | €3,902,064 | €3,902,064 | = | 0.0% |
| Participating interests | 280 | €3,902,064 | €3,902,064 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €11,852,200 | €11,945,700 | +€93,500 | +0.8% |
| Participating interests | 282 | €11,852,200 | €11,945,700 | +€93,500 | +0.8% |
| Other financial fixed assets | 284/8 | €331,994 | €329,594 | -€2,400 | -0.7% |
| Shares | 284 | €75,714 | €75,714 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €256,281 | €253,881 | -€2,400 | -0.9% |
| Current assets | 29/58 | €386,546,881 | €421,441,509 | +€34.9m | +9.0% |
| Stocks and contracts in progress | 3 | €13,986,230 | €14,662,663 | +€676,433 | +4.8% |
| Stocks | 30/36 | €8,951,944 | €9,679,322 | +€727,378 | +8.1% |
| Raw materials and consumables | 30/31 | €8,951,944 | €9,679,322 | +€727,378 | +8.1% |
| Contracts in progress | 37 | €5,034,286 | €4,983,341 | -€50,946 | -1.0% |
| Amounts receivable within one year | 40/41 | €201,956,711 | €209,924,805 | +€8.0m | +3.9% |
| Trade receivables | 40 | €125,303,490 | €137,930,655 | +€12.6m | +10.1% |
| Other amounts receivable | 41 | €76,653,221 | €71,994,150 | -€4.7m | -6.1% |
| Current investments | 50/53 | - | €16,000,000 | +€16.0m | |
| Other investments | 51/53 | - | €16,000,000 | +€16.0m | |
| Cash at bank and in hand | 54/58 | €9,006,384 | €5,806,492 | -€3.2m | -35.5% |
| Deferred charges and accrued income | 490/1 | €161,597,557 | €175,047,549 | +€13.4m | +8.3% |
| Total equity and liabilities | 10/49 | €3,655,171,752 | €3,813,056,906 | +€157.9m | +4.3% |
| Equity | 10/15 | €1,920,852,147 | €2,040,928,719 | +€120.1m | +6.3% |
| Contributions | 10/11 | €640,700,972 | €640,428,103 | -€272,869 | 0.0% |
| Revaluation surpluses | 12 | €543,146,908 | €537,093,581 | -€6.1m | -1.1% |
| Reserves | 13 | €491,732,702 | €538,061,927 | +€46.3m | +9.4% |
| Non-distributable reserves | 130/1 | €8,283,999 | €6,283,999 | -€2.0m | -24.1% |
| Other | 1319 | €8,283,999 | €6,283,999 | -€2.0m | -24.1% |
| Distributable reserves | 133 | €483,448,703 | €531,777,928 | +€48.3m | +10.0% |
| Investment grants | 15 | €245,271,565 | €325,345,108 | +€80.1m | +32.6% |
| Provisions and deferred taxes | 16 | €13,978,089 | €18,364,864 | +€4.4m | +31.4% |
| Provisions for liabilities and charges | 160/5 | €13,978,089 | €18,364,864 | +€4.4m | +31.4% |
| Pensions and similar obligations | 160 | €1,078,541 | €984,376 | -€94,165 | -8.7% |
| Major repairs and maintenance | 162 | €4,862,903 | €4,777,223 | -€85,680 | -1.8% |
| Other liabilities and charges | 164/5 | €8,036,645 | €12,603,265 | +€4.6m | +56.8% |
| Amounts payable | 17/49 | €1,720,341,516 | €1,753,763,323 | +€33.4m | +1.9% |
| Amounts payable after more than one year | 17 | €1,337,380,627 | €1,433,940,772 | +€96.6m | +7.2% |
| Financial debts | 170/4 | €1,305,015,296 | €1,408,848,925 | +€103.8m | +8.0% |
| Credit institutions | 173 | €933,765,296 | €927,598,925 | -€6.2m | -0.7% |
| Other loans | 174 | €371,250,000 | €481,250,000 | +€110.0m | +29.6% |
| Other amounts payable | 178/9 | €32,365,331 | €25,091,846 | -€7.3m | -22.5% |
| Amounts payable within one year | 42/48 | €370,338,615 | €295,963,957 | -€74.4m | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €86,371,003 | €73,439,855 | -€12.9m | -15.0% |
| Financial debts | 43 | €33,000,000 | - | -€33.0m | |
| Credit institutions | 430/8 | €33,000,000 | - | -€33.0m | |
| Trade debts | 44 | €48,075,384 | €54,501,726 | +€6.4m | +13.4% |
| Suppliers | 440/4 | €48,075,384 | €54,501,726 | +€6.4m | +13.4% |
| Advances received on contracts in progress | 46 | €122,749,788 | €140,309,203 | +€17.6m | +14.3% |
| Taxes, remuneration and social security | 45 | €13,081,657 | €15,323,482 | +€2.2m | +17.1% |
| Taxes | 450/3 | €1,633,430 | €4,969,169 | +€3.3m | +204% |
| Remuneration and social security | 454/9 | €11,448,227 | €10,354,314 | -€1.1m | -9.6% |
| Other amounts payable | 47/48 | €67,060,783 | €12,389,690 | -€54.7m | -81.5% |
| Accrued charges and deferred income | 492/3 | €12,622,274 | €23,858,595 | +€11.2m | +89.0% |
| Operating income | 70/76A | €597,954,465 | €631,603,321 | +€33.6m | +5.6% |
| Turnover | 70 | €506,292,269 | €576,927,502 | +€70.6m | +14.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,010,708 | -€50,946 | -€1.1m | |
| Own construction capitalised | 72 | €35,288,061 | €41,508,842 | +€6.2m | +17.6% |
| Other operating income | 74 | €46,194,919 | €12,256,769 | -€33.9m | -73.5% |
| Non-recurring operating income | 76A | €9,168,508 | €961,154 | -€8.2m | -89.5% |
| Operating charges | 60/66A | €524,218,269 | €557,356,994 | +€33.1m | +6.3% |
| Goods for resale, raw materials and consumables | 60 | €248,802,193 | €256,511,054 | +€7.7m | +3.1% |
| Purchases | 600/8 | €249,819,160 | €257,320,326 | +€7.5m | +3.0% |
| Change in stocks: decrease (increase) | 609 | -€1,016,968 | -€809,272 | +€207,695 | +20.4% |
| Services and other goods | 61 | €84,484,035 | €86,964,622 | +€2.5m | +2.9% |
| Remuneration, social security and pensions | 62 | €96,761,073 | €104,103,270 | +€7.3m | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,136,829 | €90,256,592 | +€4.1m | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,095,039 | €2,112,995 | +€17,956 | +0.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,575,640 | €4,386,774 | +€10.0m | |
| Other operating charges | 640/8 | €7,274,473 | €7,487,581 | +€213,108 | +2.9% |
| Non-recurring operating charges | 66A | €4,240,269 | €5,534,106 | +€1.3m | +30.5% |
| Operating profit (loss) | 9901 | €73,736,196 | €74,246,327 | +€510,131 | +0.7% |
| Financial income | 75/76B | €7,627,195 | €12,462,928 | +€4.8m | +63.4% |
| Recurring financial income | 75 | €7,627,195 | €12,462,928 | +€4.8m | +63.4% |
| Income from current assets | 751 | €507,859 | €465,653 | -€42,206 | -8.3% |
| Other financial income | 752/9 | €7,119,336 | €11,997,275 | +€4.9m | +68.5% |
| Financial charges | 65/66B | €42,754,034 | €46,055,316 | +€3.3m | +7.7% |
| Recurring financial charges | 65 | €42,754,034 | €46,055,316 | +€3.3m | +7.7% |
| Debt charges | 650 | €41,905,691 | €45,209,592 | +€3.3m | +7.9% |
| Other financial charges | 652/9 | €848,343 | €845,724 | -€2,619 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €38,609,357 | €40,653,939 | +€2.0m | +5.3% |
| Income taxes | 67/77 | €429,158 | €378,041 | -€51,117 | -11.9% |
| Taxes | 670/3 | €429,158 | €378,041 | -€51,117 | -11.9% |
| Profit (loss) for the period | 9904 | €38,180,199 | €40,275,898 | +€2.1m | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,180,199 | €40,275,898 | +€2.1m | +5.5% |
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 3 November 2026 via checked.be.