FASCOMAD: 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.
FASCOMAD
Largest movements
- Receivables within one year -€59,956
down €59,956 (-29.9%), from €200,645 to €140,690
- Stocks and contracts +€13,200
up €13,200 (+19.8%), from €66,570 to €79,770
- Tangible fixed assets -€8,384
down €8,384 (-16.1%), from €52,079 to €43,695
- Cash +€5,362
up €5,362 (+18.4%), from €29,165 to €34,528
mainly Receivables within one year (+€59,956) and Net result for the year (+€32,494)
- Trade debts -€58,683
down €58,683 (-34.5%), from €170,232 to €111,549
- Reserves +€32,494
up €32,494 (+52.7%), from €61,637 to €94,131
- Tax, wage and social debts -€14,314
down €14,314 (-19.3%), from €74,059 to €59,745
of which Taxes: -€31,297
- Other debts -€11,970
down €11,970 (-40.2%), from €29,759 to €17,790
- Current portion of long-term debt +€5,658
up €5,658 (+296%), from €1,910 to €7,568
- Gross operating margin +€112,592
up €112,592 (+55.5%), from €202,902 to €315,493
- Staff costs +€98,940
up €98,940 (+68.6%), from €144,275 to €243,215
- Taxes +€7,726
up €7,726 (+75.6%), from €10,224 to €17,950
- Write-downs -€3,500
new in 2025: -€3,500
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 | €358,079 | €309,656 | -€48,423 | -13.5% |
| Fixed assets | 21/28 | €56,979 | €48,595 | -€8,384 | -14.7% |
| Tangible fixed assets | 22/27 | €52,079 | €43,695 | -€8,384 | -16.1% |
| Land and buildings | 22 | €19,052 | €15,592 | -€3,460 | -18.2% |
| Plant, machinery and equipment | 23 | €11,887 | €11,200 | -€687 | -5.8% |
| Furniture and vehicles | 24 | €7,469 | €4,774 | -€2,695 | -36.1% |
| Leasing and similar rights | 25 | €13,671 | €12,129 | -€1,542 | -11.3% |
| Financial fixed assets | 28 | €4,900 | €4,900 | = | 0.0% |
| Current assets | 29/58 | €301,100 | €261,061 | -€40,039 | -13.3% |
| Stocks and contracts in progress | 3 | €66,570 | €79,770 | +€13,200 | +19.8% |
| Stocks | 30/36 | €66,570 | €79,770 | +€13,200 | +19.8% |
| Amounts receivable within one year | 40/41 | €200,645 | €140,690 | -€59,956 | -29.9% |
| Trade receivables | 40 | €200,645 | €140,690 | -€59,956 | -29.9% |
| Cash at bank and in hand | 54/58 | €29,165 | €34,528 | +€5,362 | +18.4% |
| Deferred charges and accrued income | 490/1 | €4,720 | €6,073 | +€1,354 | +28.7% |
| Total equity and liabilities | 10/49 | €358,079 | €309,656 | -€48,423 | -13.5% |
| Equity | 10/15 | €74,037 | €106,531 | +€32,494 | +43.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €61,637 | €94,131 | +€32,494 | +52.7% |
| Distributable reserves | 133 | €61,637 | €94,131 | +€32,494 | +52.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €284,042 | €203,125 | -€80,917 | -28.5% |
| Amounts payable after more than one year | 17 | €5,489 | €3,377 | -€2,111 | -38.5% |
| Financial debts | 170/4 | €5,489 | €3,377 | -€2,111 | -38.5% |
| Amounts payable within one year | 42/48 | €277,741 | €196,652 | -€81,088 | -29.2% |
| Current portion of amounts payable after more than one year | 42 | €1,910 | €7,568 | +€5,658 | +296% |
| Financial debts | 43 | €1,780 | €0 | -€1,780 | -100% |
| Credit institutions | 430/8 | €1,780 | €0 | -€1,780 | -100% |
| Trade debts | 44 | €170,232 | €111,549 | -€58,683 | -34.5% |
| Suppliers | 440/4 | €170,232 | €111,549 | -€58,683 | -34.5% |
| Taxes, remuneration and social security | 45 | €74,059 | €59,745 | -€14,314 | -19.3% |
| Taxes | 450/3 | €49,306 | €18,009 | -€31,297 | -63.5% |
| Remuneration and social security | 454/9 | €24,753 | €41,736 | +€16,983 | +68.6% |
| Other amounts payable | 47/48 | €29,759 | €17,790 | -€11,970 | -40.2% |
| Accrued charges and deferred income | 492/3 | €813 | €3,096 | +€2,283 | +281% |
| Non-recurring operating income | 76A | €1,587 | €0 | -€1,587 | -100% |
| Remuneration, social security and pensions | 62 | €144,275 | €243,215 | +€98,940 | +68.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,838 | €17,179 | +€1,340 | +8.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,500 | -€3,500 | |
| Other operating charges | 640/8 | €6,131 | €4,143 | -€1,988 | -32.4% |
| Non-recurring operating charges | 66A | €675 | €0 | -€675 | -100% |
| Gross operating margin | 9900 | €202,902 | €315,493 | +€112,592 | +55.5% |
| Operating profit (loss) | 9901 | €35,983 | €54,456 | +€18,473 | +51.3% |
| Financial income | 75/76B | €4,475 | €5,830 | +€1,355 | +30.3% |
| Recurring financial income | 75 | €4,475 | €5,830 | +€1,355 | +30.3% |
| Financial charges | 65/66B | €7,234 | €9,842 | +€2,608 | +36.1% |
| Recurring financial charges | 65 | €7,234 | €9,842 | +€2,608 | +36.1% |
| Profit (loss) for the period before taxes | 9903 | €33,224 | €50,444 | +€17,220 | +51.8% |
| Income taxes | 67/77 | €10,224 | €17,950 | +€7,726 | +75.6% |
| Profit (loss) for the period | 9904 | €22,999 | €32,494 | +€9,495 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,999 | €32,494 | +€9,495 | +41.3% |
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 13 October 2026 via checked.be.