FAS CONSULT: 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.
FAS CONSULT
Largest movements
- Receivables within one year -€96,481
down €96,481 (-71.4%), from €135,075 to €38,594
of which Trade receivables: -€76,853
- Tangible fixed assets +€22,186
up €22,186 (+12.3%), from €179,890 to €202,076
of which Plant, machinery and equipment: +€32,887
- Cash -€14,754
down €14,754 (-33.2%), from €44,423 to €29,669
mainly Contributions, distributions and other (-€65,732) and Accrued charges and deferred income (-€61,945)
- Accrued charges and deferred income -€61,945
no longer reported in 2025 (was €61,945)
- Profit (loss) carried forward -€35,969
down €35,969 (-54.7%), from €65,732 to €29,763
- Trade debts +€10,046
up €10,046 (+222.7%), from €4,512 to €14,558
- Gross operating margin -€25,919
down €25,919 (-23.1%), from €112,432 to €86,513
- Taxes -€9,754
down €9,754 (-50.1%), from €19,482 to €9,728
- Depreciation +€5,181
up €5,181 (+26.1%), from €19,842 to €25,023
- Other operating charges -€1,295
down €1,295 (-50.2%), from €2,580 to €1,285
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 | €359,388 | €273,129 | -€86,259 | -24.0% |
| Fixed assets | 21/28 | €179,890 | €202,076 | +€22,186 | +12.3% |
| Tangible fixed assets | 22/27 | €179,890 | €202,076 | +€22,186 | +12.3% |
| Plant, machinery and equipment | 23 | €63,615 | €96,502 | +€32,887 | +51.7% |
| Furniture and vehicles | 24 | €116,275 | €105,574 | -€10,701 | -9.2% |
| Current assets | 29/58 | €179,498 | €71,053 | -€108,445 | -60.4% |
| Amounts receivable within one year | 40/41 | €135,075 | €38,594 | -€96,481 | -71.4% |
| Trade receivables | 40 | €92,825 | €15,972 | -€76,853 | -82.8% |
| Other amounts receivable | 41 | €42,250 | €22,622 | -€19,628 | -46.5% |
| Cash at bank and in hand | 54/58 | €44,423 | €29,669 | -€14,754 | -33.2% |
| Deferred charges and accrued income | 490/1 | - | €2,790 | +€2,790 | |
| Total equity and liabilities | 10/49 | €359,388 | €273,129 | -€86,259 | -24.0% |
| Equity | 10/15 | €157,023 | €121,054 | -€35,969 | -22.9% |
| Reserves | 13 | €91,291 | €91,291 | = | 0.0% |
| Distributable reserves | 133 | €91,291 | €91,291 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,732 | €29,763 | -€35,969 | -54.7% |
| Amounts payable | 17/49 | €202,365 | €152,075 | -€50,290 | -24.9% |
| Amounts payable after more than one year | 17 | €90,258 | €90,019 | -€239 | -0.3% |
| Financial debts | 170/4 | €90,258 | €90,019 | -€239 | -0.3% |
| Amounts payable within one year | 42/48 | €50,162 | €62,056 | +€11,894 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €32,212 | €35,062 | +€2,850 | +8.8% |
| Trade debts | 44 | €4,512 | €14,558 | +€10,046 | +222.7% |
| Suppliers | 440/4 | €4,512 | €14,558 | +€10,046 | +222.7% |
| Taxes, remuneration and social security | 45 | €13,435 | €12,435 | -€1,000 | -7.4% |
| Taxes | 450/3 | €13,435 | €12,435 | -€1,000 | -7.4% |
| Other amounts payable | 47/48 | €3 | €1 | -€2 | -66.7% |
| Accrued charges and deferred income | 492/3 | €61,945 | - | -€61,945 | |
| Non-recurring operating income | 76A | €19,523 | - | -€19,523 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,842 | €25,023 | +€5,181 | +26.1% |
| Other operating charges | 640/8 | €2,580 | €1,285 | -€1,295 | -50.2% |
| Non-recurring operating charges | 66A | - | €14,926 | +€14,926 | |
| Gross operating margin | 9900 | €112,432 | €86,513 | -€25,919 | -23.1% |
| Operating profit (loss) | 9901 | €90,010 | €45,279 | -€44,731 | -49.7% |
| Financial income | 75/76B | €645 | €29 | -€616 | -95.5% |
| Recurring financial income | 75 | €645 | €29 | -€616 | -95.5% |
| Financial charges | 65/66B | €5,441 | €5,817 | +€376 | +6.9% |
| Recurring financial charges | 65 | €5,441 | €5,817 | +€376 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €85,214 | €39,491 | -€45,723 | -53.7% |
| Income taxes | 67/77 | €19,482 | €9,728 | -€9,754 | -50.1% |
| Profit (loss) for the period | 9904 | €65,732 | €29,763 | -€35,969 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €65,732 | €29,763 | -€35,969 | -54.7% |
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 5 October 2026 via checked.be.