FASET: 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.
FASET
Largest movements
- Cash +€58,582
up €58,582 (+20.3%), from €289,246 to €347,828
mainly Depreciation (+€44,235) and Deferred charges and accrued income (+€34,962)
- Receivables within one year +€54,302
up €54,302 (+12.7%), from €427,647 to €481,948
of which Trade receivables: +€72,112
- Tangible fixed assets -€40,042
down €40,042 (-17.8%), from €224,543 to €184,500
of which Furniture and vehicles: -€39,628
- Deferred charges and accrued income -€34,962
down €34,962 (-23.5%), from €148,937 to €113,975
- Accrued charges and deferred income +€23,544
new in 2025: €23,544
- Provisions +€22,000
up €22,000 (+61.1%), from €36,000 to €58,000
- Reserves +€19,250
up €19,250 (+2.8%), from €687,546 to €706,796
of which Distributable reserves: +€19,250
- Trade debts -€17,955
down €17,955 (-15.9%), from €112,693 to €94,739
- Staff costs +€51,403
up €51,403 (+79.5%), from €64,633 to €116,036
- Gross operating margin +€35,670
up €35,670 (+20.3%), from €175,615 to €211,286
- Depreciation +€7,527
up €7,527 (+20.5%), from €36,708 to €44,235
- Taxes -€4,024
down €4,024 (-28.7%), from €14,015 to €9,990
- Financial charges -€2,462
down €2,462 (-77.6%), from €3,170 to €709
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 | €1,090,685 | €1,128,564 | +€37,879 | +3.5% |
| Fixed assets | 21/28 | €224,856 | €184,814 | -€40,042 | -17.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €224,543 | €184,500 | -€40,042 | -17.8% |
| Land and buildings | 22 | €31,209 | €34,031 | +€2,821 | +9.0% |
| Plant, machinery and equipment | 23 | €12,352 | €9,116 | -€3,236 | -26.2% |
| Furniture and vehicles | 24 | €180,981 | €141,354 | -€39,628 | -21.9% |
| Financial fixed assets | 28 | €313 | €313 | = | 0.0% |
| Current assets | 29/58 | €865,830 | €943,751 | +€77,921 | +9.0% |
| Amounts receivable within one year | 40/41 | €427,647 | €481,948 | +€54,302 | +12.7% |
| Trade receivables | 40 | €409,777 | €481,889 | +€72,112 | +17.6% |
| Other amounts receivable | 41 | €17,870 | €59 | -€17,811 | -99.7% |
| Cash at bank and in hand | 54/58 | €289,246 | €347,828 | +€58,582 | +20.3% |
| Deferred charges and accrued income | 490/1 | €148,937 | €113,975 | -€34,962 | -23.5% |
| Total equity and liabilities | 10/49 | €1,090,685 | €1,128,564 | +€37,879 | +3.5% |
| Equity | 10/15 | €795,300 | €814,598 | +€19,298 | +2.4% |
| Contributions | 10/11 | €107,700 | €107,700 | = | 0.0% |
| Reserves | 13 | €687,546 | €706,796 | +€19,250 | +2.8% |
| Tax-exempt reserves | 132 | €1,535 | €1,535 | = | 0.0% |
| Distributable reserves | 133 | €686,010 | €705,260 | +€19,250 | +2.8% |
| Profit (loss) carried forward | 14 | €54 | €102 | +€48 | +89.0% |
| Provisions and deferred taxes | 16 | €36,000 | €58,000 | +€22,000 | +61.1% |
| Provisions for liabilities and charges | 160/5 | €36,000 | €58,000 | +€22,000 | +61.1% |
| Other liabilities and charges | 164/5 | €36,000 | €58,000 | +€22,000 | +61.1% |
| Amounts payable | 17/49 | €259,386 | €255,967 | -€3,419 | -1.3% |
| Amounts payable within one year | 42/48 | €259,386 | €232,423 | -€26,963 | -10.4% |
| Trade debts | 44 | €112,693 | €94,739 | -€17,955 | -15.9% |
| Suppliers | 440/4 | €112,693 | €94,739 | -€17,955 | -15.9% |
| Taxes, remuneration and social security | 45 | €92,868 | €81,828 | -€11,040 | -11.9% |
| Taxes | 450/3 | €83,432 | €46,162 | -€37,270 | -44.7% |
| Remuneration and social security | 454/9 | €9,436 | €35,666 | +€26,230 | +278.0% |
| Other amounts payable | 47/48 | €53,824 | €55,856 | +€2,032 | +3.8% |
| Accrued charges and deferred income | 492/3 | - | €23,544 | +€23,544 | |
| Non-recurring operating income | 76A | €5,296 | €0 | -€5,296 | -100.0% |
| Remuneration, social security and pensions | 62 | €64,633 | €116,036 | +€51,403 | +79.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,708 | €44,235 | +€7,527 | +20.5% |
| Other operating charges | 640/8 | €2,631 | €1,764 | -€867 | -33.0% |
| Non-recurring operating charges | 66A | €22,000 | €22,000 | = | 0.0% |
| Gross operating margin | 9900 | €175,615 | €211,286 | +€35,670 | +20.3% |
| Operating profit (loss) | 9901 | €49,643 | €27,252 | -€22,391 | -45.1% |
| Financial income | 75/76B | €2,170 | €2,746 | +€576 | +26.5% |
| Recurring financial income | 75 | €2,170 | €2,746 | +€576 | +26.5% |
| Financial charges | 65/66B | €3,170 | €709 | -€2,462 | -77.6% |
| Recurring financial charges | 65 | €3,170 | €709 | -€2,462 | -77.6% |
| Profit (loss) for the period before taxes | 9903 | €48,642 | €29,288 | -€19,354 | -39.8% |
| Income taxes | 67/77 | €14,015 | €9,990 | -€4,024 | -28.7% |
| Profit (loss) for the period | 9904 | €34,628 | €19,298 | -€15,330 | -44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,628 | €19,298 | -€15,330 | -44.3% |
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 12 October 2026 via checked.be.