FAS Group: 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 Group
Largest movements
- Receivables within one year +€178,096
up €178,096 (+126.5%), from €140,796 to €318,892
of which Trade receivables: +€122,904
- Cash +€36,381
up €36,381 (+167.6%), from €21,713 to €58,094
mainly Accrued charges and deferred income (+€92,975) and Net result for the year (+€67,936)
- Tangible fixed assets -€7,675
down €7,675 (-33.1%), from €23,186 to €15,511
of which Furniture and vehicles: -€8,583
- Financial fixed assets +€7,500
new in 2025: €7,500
- Intangible fixed assets +€6,173
new in 2025: €6,173
- Accrued charges and deferred income +€92,975
new in 2025: €92,975
- Reserves +€67,936
up €67,936 (+65.7%), from €103,364 to €171,299
- Trade debts +€38,266
up €38,266 (+77.7%), from €49,237 to €87,504
- Tax, wage and social debts +€19,972
up €19,972 (+70.0%), from €28,533 to €48,505
of which Taxes: +€14,078
- Other debts +€8,756
new in 2025: €8,756
- Staff costs +€64,194
new in 2025: €64,194
- Other operating charges -€25,844
down €25,844 (-87.0%), from €29,696 to €3,852
- Taxes -€10,355
down €10,355 (-36.3%), from €28,533 to €18,178
- Gross operating margin -€5,028
down €5,028 (-3.0%), from €170,098 to €165,070
- Depreciation +€2,031
up €2,031 (+21.2%), from €9,597 to €11,627
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 | €187,134 | €415,039 | +€227,906 | +121.8% |
| Fixed assets | 21/28 | €23,186 | €29,183 | +€5,998 | +25.9% |
| Intangible fixed assets | 21 | - | €6,173 | +€6,173 | |
| Tangible fixed assets | 22/27 | €23,186 | €15,511 | -€7,675 | -33.1% |
| Plant, machinery and equipment | 23 | €5,520 | €6,429 | +€908 | +16.5% |
| Furniture and vehicles | 24 | €17,666 | €9,082 | -€8,583 | -48.6% |
| Financial fixed assets | 28 | - | €7,500 | +€7,500 | |
| Current assets | 29/58 | €163,948 | €385,856 | +€221,908 | +135.4% |
| Stocks and contracts in progress | 3 | - | €5,000 | +€5,000 | |
| Stocks | 30/36 | - | €5,000 | +€5,000 | |
| Amounts receivable within one year | 40/41 | €140,796 | €318,892 | +€178,096 | +126.5% |
| Trade receivables | 40 | €107,569 | €230,474 | +€122,904 | +114.3% |
| Other amounts receivable | 41 | €33,226 | €88,418 | +€55,192 | +166.1% |
| Cash at bank and in hand | 54/58 | €21,713 | €58,094 | +€36,381 | +167.6% |
| Deferred charges and accrued income | 490/1 | €1,439 | €3,870 | +€2,431 | +168.9% |
| Total equity and liabilities | 10/49 | €187,134 | €415,039 | +€227,906 | +121.8% |
| Equity | 10/15 | €109,364 | €177,299 | +€67,936 | +62.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €103,364 | €171,299 | +€67,936 | +65.7% |
| Distributable reserves | 133 | €103,364 | €171,299 | +€67,936 | +65.7% |
| Amounts payable | 17/49 | €77,770 | €237,740 | +€159,970 | +205.7% |
| Amounts payable within one year | 42/48 | €77,770 | €144,765 | +€66,995 | +86.1% |
| Trade debts | 44 | €49,237 | €87,504 | +€38,266 | +77.7% |
| Suppliers | 440/4 | €49,237 | €87,504 | +€38,266 | +77.7% |
| Taxes, remuneration and social security | 45 | €28,533 | €48,505 | +€19,972 | +70.0% |
| Taxes | 450/3 | €28,533 | €42,611 | +€14,078 | +49.3% |
| Remuneration and social security | 454/9 | - | €5,894 | +€5,894 | |
| Other amounts payable | 47/48 | - | €8,756 | +€8,756 | |
| Accrued charges and deferred income | 492/3 | - | €92,975 | +€92,975 | |
| Remuneration, social security and pensions | 62 | - | €64,194 | +€64,194 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,597 | €11,627 | +€2,031 | +21.2% |
| Other operating charges | 640/8 | €29,696 | €3,852 | -€25,844 | -87.0% |
| Gross operating margin | 9900 | €170,098 | €165,070 | -€5,028 | -3.0% |
| Operating profit (loss) | 9901 | €130,805 | €85,397 | -€45,408 | -34.7% |
| Financial income | 75/76B | €1,269 | €2,254 | +€985 | +77.6% |
| Recurring financial income | 75 | €1,269 | €2,254 | +€985 | +77.6% |
| Financial charges | 65/66B | €178 | €1,537 | +€1,359 | +765.6% |
| Recurring financial charges | 65 | €178 | €1,537 | +€1,359 | +765.6% |
| Profit (loss) for the period before taxes | 9903 | €131,897 | €86,114 | -€45,783 | -34.7% |
| Income taxes | 67/77 | €28,533 | €18,178 | -€10,355 | -36.3% |
| Profit (loss) for the period | 9904 | €103,364 | €67,936 | -€35,428 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €103,364 | €67,936 | -€35,428 | -34.3% |
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 30 September 2026 via checked.be.