FAS DEVELOPMENT: 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.
FAS DEVELOPMENT
Largest movements
- Cash -€51,536
down €51,536 (-99.1%), from €51,985 to €450
mainly Other debts (-€59,088) and Trade debts (-€2,395)
- Other debts -€59,088
down €59,088 (-16.3%), from €361,586 to €302,497
- Profit (loss) carried forward +€6,587
up €6,587 (+13.0%), from €50,824 to €57,410
- Financial income +€6,471
new in 2025: €6,471
- Gross operating margin -€1,621
down €1,621 (-35.0%), from €4,631 to €3,010
- Write-downs +€1,300
up €1,300 (+144%), from €900 to €2,200
- Taxes -€740
down €740 (-77.3%), from €957 to €217
- Depreciation +€214
up €214 (+115%), from €186 to €401
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.
Derived cash bridge
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 | €435,256 | €380,576 | -€54,680 | -12.6% |
| Fixed assets | 21/28 | €379,427 | €379,026 | -€401 | -0.1% |
| Tangible fixed assets | 22/27 | €1,592 | €1,191 | -€401 | -25.2% |
| Furniture and vehicles | 24 | €1,592 | €1,191 | -€401 | -25.2% |
| Financial fixed assets | 28 | €377,835 | €377,835 | = | 0.0% |
| Current assets | 29/58 | €55,829 | €1,550 | -€54,279 | -97.2% |
| Amounts receivable within one year | 40/41 | €3,843 | €1,100 | -€2,743 | -71.4% |
| Trade receivables | 40 | €3,300 | €1,100 | -€2,200 | -66.7% |
| Other amounts receivable | 41 | €543 | - | -€543 | |
| Cash at bank and in hand | 54/58 | €51,985 | €450 | -€51,536 | -99.1% |
| Total equity and liabilities | 10/49 | €435,256 | €380,576 | -€54,680 | -12.6% |
| Equity | 10/15 | €71,275 | €77,862 | +€6,587 | +9.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,824 | €57,410 | +€6,587 | +13.0% |
| Amounts payable | 17/49 | €363,981 | €302,714 | -€61,266 | -16.8% |
| Amounts payable within one year | 42/48 | €363,981 | €302,714 | -€61,266 | -16.8% |
| Trade debts | 44 | €2,395 | - | -€2,395 | |
| Suppliers | 440/4 | €2,395 | - | -€2,395 | |
| Taxes, remuneration and social security | 45 | - | €217 | +€217 | |
| Taxes | 450/3 | - | €217 | +€217 | |
| Other amounts payable | 47/48 | €361,586 | €302,497 | -€59,088 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186 | €401 | +€214 | +115% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €900 | €2,200 | +€1,300 | +144% |
| Gross operating margin | 9900 | €4,631 | €3,010 | -€1,621 | -35.0% |
| Operating profit (loss) | 9901 | €3,544 | €409 | -€3,135 | -88.4% |
| Financial income | 75/76B | - | €6,471 | +€6,471 | |
| Recurring financial income | 75 | - | €6,471 | +€6,471 | |
| Financial charges | 65/66B | €74 | €77 | +€3 | +4.2% |
| Recurring financial charges | 65 | €74 | €77 | +€3 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €3,471 | €6,804 | +€3,333 | +96.0% |
| Income taxes | 67/77 | €957 | €217 | -€740 | -77.3% |
| Profit (loss) for the period | 9904 | €2,514 | €6,587 | +€4,073 | +162% |
| Profit (loss) for the period to be appropriated | 9905 | €2,514 | €6,587 | +€4,073 | +162% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.